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Disputing Archives | Ovation Credit Repair Services

Validation of Debt

By | Collections, Consumer Rights, Credit Laws, Debt

Under the Fair Debt Collection Practices Act, debt collectors have certain obligations when first communicating with a consumer about a debt.  The debt collector must provide certain information within five days of the initial contact with the consumer.  That information includes the amount of the debt and the name of the creditor to whom the debt is owed. 

The debt collector must also provide certain statements within five days of the initial communication.  The following statements are required:

  1. A statement that the debt will be assumed to be valid by the debt collector unless the consumer, disputes the validity of the debt, or any portion thereof, the debt within thirty days after receipt of the notice;
  2. A statement that the debt collector will obtain verification of the debt or a copy of a judgment against the consumer and a copy of such verification or judgment will be mailed to the consumer by the debt collector if the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed; and
  3. A statement that the debt collector will provide the consumer with the name and address of the original creditor if different from the current creditor upon the consumer’s written request within the thirty-day period.

Keep in mind that a communication in the form of a formal pleading in a civil action is not considered an “initial communication.”

Validating the Debt:

If the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the debt collector must cease collection of the debt, or any disputed portion thereof, until the debt collector obtains verification of the debt.  The debt collector can satisfy this requirement by obtaining a copy of a judgment or other specific account information and mailing the information to the consumer.

Also, if the consumer has requested the name and address of the original creditor, the debt collector must cease collection of the debt, or any disputed portion thereof, until the debt collector obtains the name and address of the original creditor and that information is mailed to the consumer by the debt collector.

Debt collectors are allowed to proceed with lawful collection activity during the thirty day period prior to receipt of a dispute.  Any collection activities and communication during the thirty day period may not overshadow or be inconsistent with the disclosure of the consumer’s right to dispute the debt or request the name and address of the original creditor.

What happens if the consumer does not demand validation of the debt within the thirty day period?

If the consumer does not dispute the validity of the debt during the thirty day period, the debt collector may assume that the debt is valid for collection purposes.  However, the failure of a consumer to dispute the validity of a debt may not be construed by any court as an admission of liability by the consumer.

What does this mean?

When you are contacted by a debt collector in regard to a debt that you allegedly owe, it does not mean that the debt collector has access to the information necessary to validate the debt.  While some debt collectors have this information in advance of an initial contact, many debt collectors only attempt to validate a debt if the consumer requests during the thirty day period.  If the debt cannot be validated, the debt collector must cease additional collection activity.  Also, if a debt cannot be validated, the debt cannot be reported on your credit profile.

What Items Are Reported to the Credit Bureaus?

By | Consumer Rights, Credit Cards, Credit Laws, Credit Repair, Credit Reports, Credit Scores, Fair Credit Reporting Act, Personal Finance

The credit reporting system is not perfect.  In fact, it is far from perfect.  As a result, a consumer that manages credit responsibly may not be rewarded with an appropriate credit score.  To understand how this can happen, consumers need to understand who reports credit data to the credit bureaus. 

Approximately 30,000 data furnishers provide data to the credit bureaus each month.  This results in about 4 billion points of data each month.  That breaks down to approximately 130 million items each and every day.  The largest providers of data are financial service providers such as banks, credit unions, and consumer finance companies. 

While these numbers are staggering, there is a lot of data that is not reported.   Creditors are not actually required to report data to the credit bureaus.  As a result, some creditors choose not to report any data at all.  Other creditors choose to only report negative information or to exclude important key data points such as credit limits.  If you have positive information and your creditors do not report it the bureaus, or if they only report negative or incomplete items, your credit score will be impacted negatively.  This is simply because you will not receive the benefit of this positive information when your credit score is calculated.

So why wouldn’t a creditor want to report information?  Some creditors are concerned that their competitors will obtain valuable information about their customers and then use this information to compete for the customers or evaluate certain lines of business.  Some creditors choose not to report to limit the potential liability imposed on data providers by the Fair Credit Reporting Act.  Some creditors simply want to avoid the costs associated with providing data altogether.  These costs include reporting expenses, dispute investigation expenses, compliance expenses, and system maintenance expenses.  Some regulated entities, such as telephone companies, are restricted by regulations as to the information they may report.  Some of these companies, for example, are only permitted to report data about accounts that are past due or are in a charged-off status.

If you are trying to improve your credit score, it is important that you work with creditors that report both positive information as well as the negative information.  It is also important that they report all of the information, not just selective data that may negatively impact your credit score even though your account is in good standing. Check your credit report frequently and verify that all of your creditors are reporting to the credit bureaus correctly.  Remember that your credit score is based only on the information that is reported, and your credit score could be higher if you have positive information that is not reported or not reported completely.

Who Is The BEST For My Credit Repair?

By | Ask a Credit Expert, Consumer Rights, Credit Laws, Credit Repair, Fair Credit Reporting Act, Personal Finance, Save Money, Your Credit

When it comes to repairing your credit report you need to do some research.  You want to know: who you are working with, what services they provide, what kind of guarantee they have, what your responsibility is during the process, how much it costs, and how long it generally takes.

I can tell you all of this for Ovation Credit Services. Ovation Credit Services is an attorney run business that started in 2004.  Our administration is made up of several people that have been in the industry for over 10+ years.  Before we ever took on clients we made sure that we had a staff that was fully trained and knowledgeable in credit repair, credit reports, the credit bureaus, the FCRA (Fair Credit Reporting Act), and CROA (Credit Repair Organization Act). We made sure that we had a strong foundation for our clients to rely on by providing the following:

  • Excellent customizable programs for every consumer
  • Staff that always answers the phone so our clients do not get voicemail during business hours
  • All emails are returned within 24 hours
  • An excellent sales team in place to answer all questions and provide Free Credit Consultations
  • Different discounts so all consumers can afford our services
  • 100% Service Guarantee
  • No-risk refund policy

Ovation’s programs are based upon extensive research of consumer credit laws, experience with credit bureau and creditor tactics, and persistence for our clients. Our programs are 100% legal and have helped tens of thousands of Americans correct and update their credit profiles resulting in higher credit scores. We currently offer two program choices to address your particular credit needs; Essentials and Essentials Plus. To learn more about these programs, click on the link to read all about our programs, add on options, and discounts. http://www.ovationcredit.com/services/services.php

Our service guarantee and no-risk refund policy were put into place to protect both us and our clients.  Our service guarantee is very straight forward. During any month, if we fail to provide the agreed upon services, we will not charge your Monthly Fees for that month. It’s as simple as that! We stand behind the quality of the work we do for you, and it shows. If you feel that something was not done on your case, you can ask for a refund at any time as well. Also, understand that each case is different, and results will vary upon the specific issues contained on your credit reports. They will also vary based upon the amount of time you are willing to commit to your credit report repair. As such, Ovation Credit does not and can not guarantee specific results.

As a client of Ovation Credit Services you are expected to participate in your credit repair process as well.  As you commit your time to your case it will show as you receive results back.  Generally, clients that participate more get better results.  Once you are a client you agree to do the following: provide your 3 credit reports to get started, send us any additional information that is required or necessary for us to dispute for you, and forward all correspondence from the credit bureaus, creditors, and other related services.

With Ovation Credit Services you get more for your money. Right now, you can get signed up with Ovation for only $60 for an individual and $96 for a couple.  Thirty days after you sign up, you start your monthly billing.  Our monthly prices are: $37 for Essentials and $57 for Essentials Plus – for an individual.  For couples, it is $60 a month for Essentials and $92 a month for Essentials Plus. To customize the programs even more you can add on Identity Optimization and/or Fast Track for $25 each. Click on this link to learn even more about our programs and add on programs: http://www.ovationcredit.com/services/services.php

As you work with Ovation Credit, you will see that we work hard to get our clients the best results possible, as quickly as possible.  On average our clients are with us 6-8 months and receive 19 improvements.  We are also the ONLY credit repair company in the United States that disputes directly into TransUnion’s system.  With this new program our clients receive their updated credit reports back from TransUnion via email and usually within 2-3 weeks each time we dispute instead of 45-60 days.

As you can see, there are A LOT of reasons that Ovation Credit Services is the BEST! This is also why we are an Accredited Business with the Better Business Bureau and have an A Rating.  So, come and join our family by clicking on the sign up page and get back to a BETTER financial future! You can also call one of our Credit Analysts at 1-866-639-3426 option 2.

If you have a question for our Credit Expert Kristi Thornton, send an email to [email protected]

Can I Get My Credit Scores for Free?

By | Ask a Credit Expert, Credit Laws, Credit Repair, Fair Credit Reporting Act, Personal Finance, Save Money, Your Credit

Currently, consumers CANNOT get their credit scores for free.  Generally, the only way to get your credit scores is to buy them, or get them through a credit monitoring service.  There are several websites available to purchase your credit scores.  It usually costs about $15-$30.  You can also get your credit scores and credit reports, directly from the credit bureaus.  Their websites are: www.Experian.com, www.Equifax.com, and www.TransUnion.com. Plus, you are entitled to one free credit report from each of the credit bureaus every 12 months and the credit bureaus set up a specific website for consumers to use: www.annualcreditreport.com.  Once you get your credit reports, you will only have to buy your credit scores from the credit bureaus or a third party.

As for credit monitoring, there are several options out there for consumers to do a FREE trial of credit monitoring, usually 7-14 days, which usually includes your three credit reports and your three credit scores.  Credit monitoring can be a good service to have if you have had identity theft or you are working on your credit and trying to fix items on your credit reports.  However, it is not a necessity and usually when you dispute items on your credit reports the credit bureaus will send you updated credit reports back via the mail.

Ovation Credit Services sends their clients to GoFreeCredit.com to sign up for a FREE trial of credit monitoring to get their credit reports and credit scores.  You can obtain all three credit reports and scores by clicking here. This site offers consumers credit reports and scores with a FREE seven-day trial in monthly credit monitoring. You will not be charged for anything if you cancel the service during the free seven-day trial membership.  If you need any assistance ordering your credit reports, getting your credit scores, or would like a FREE Credit Consultation please call 1-866-639-3426 option 2.

If you have a question for our Credit Expert Kristi Thornton, send an email to [email protected]

Can I dispute an account on my credit reports that I know is my account?

By | Ask a Credit Expert, Bankruptcy, Collections, Consumer Rights, Credit Cards, Credit Repair, Payment, Your Credit

Yes, you can dispute accounts on your credit reports that belong to you.  Just because an account is yours, does not mean that it is reporting accurately or that all of the information reporting on the account is correct. Statistics show that 79% of credit reports in the United States contain errors.  If an account has incomplete or inaccurate information then you would want to dispute the account and any information reporting on it that is incorrect.  You can dispute the balance of the account, any incorrect dates reporting with the account, whether the account is open or closed, or any other information that is listed incorrectly. For example, if you have an account that is reporting as being 90 days late and you know it was never late, then you would dispute the late payment to get the late payment updated/removed from your report, not the entire account.  That is exactly why you want to review your report at least once a year.

As a consumer it is in your best interest to go through your credit report once or twice a year and review all of the accounts and the information reporting on each account. That way if you find inaccurate information and/or accounts, you can dispute them right away. Too many consumers wait and then review their credit reports when they are trying to finance a car or a home and then it is too late. If there are negative errors on your credit reports you run the risk of being declined or being approved but with a high interest rate or needing a co-signer. So, check your report and review each account that is reporting to make sure everything is accurate. If something is inaccurate or incomplete at that time then you can dispute the information and get it corrected before you need to use your credit.

If you need help disputing your credit reports, contact the Experts at Ovation Credit Services where you will get First Class Customer Service! Go to www.ovationcredit.com for more information, or call 1-866-639-3426!

I Changed My Name Legally, Can I Get My Old Name Taken Off Of My Credit Reports?

By | Ask a Credit Expert

I legally changed my full name this year by court order (first name +last name). All 3 bureaus show my old name as “Also know as” or else along with my new name.  Is there a way to remove my old name for the 3 credit bureaus so I can enjoy my new name?

 

That is a good question.  Yes, it is possible to have your old name removed from your credit reports by disputing.  However, I would not recommend that you dispute and have the name removed.  The reason I don’t recommend you having your name removed is because you have credit accounts and credit history tied to your name.  If you have your old name removed from your credit reports then you run the risk of having the credit history that is tied to it removed from your report as well, which will lower your credit score.  Your length of credit history is 15% of your credit score so you do not want to do anything that will take any of your history away from your credit report.  I would recommend that you make sure each credit report has your new name as “Your Name”, and then make sure your old name is listed as an alias and then dispute any other names on your credit reports that are incorrect.  Once that is all straightened out you will want to make sure your credit reports stay correct.  Good luck with getting everything straightened out and if you need any help disputing anything on your credit reports give Ovation Credit a call at 1-866-639-3426.

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