Credit Repair Help

Sadly debt Collection Agencies have used credit report and the threat of ruining credit report and credit score to get people to pay off debt without asking too many questions. Debt collection companies and creditors use the credit reporting system as a tool for their debt collection practices. Their goal is if they threaten to report your debt to the credit bureaus, then you are more likely to pay quickly and without asking questions. Many illegal debt collection practices get away with collecting debt illegally, breaking several laws such as those outlined in the Fair Debt Collection Practices Act.

Do debt Collection Agencies report incorrect data to the credit bureaus?

Yes and more often than you think! The credit reporting system expects debt Collection Agencies to inform consumers that they need to take care of legitimate debt by a certain deadline otherwise, accurate derogatory data will be reported to the credit bureaus. However, do all debt Collection Agencies do this? No. Many debt Collection Agencies have been reported to abuse their power and report or threaten to report inaccurate derogatory data to credit bureaus as a tactic to pressure consumer to pay the debt in dispute.

What do I do when a debt collection agency reported or threaten to report inaccurate debt data?

If you suspect that the debt collection agency is treating you unfairly in regard to your debt, check out the Fair Debt Collection Practices Act and Fair Credit Reporting Act to see if they have broken any parts of the laws concerning debt collection and credit. If they have, even in the slightest form, you must inform the:

• FTC
• your state attorney general
• the state attorney general of the state they are in or in the state in which the debt originated

You can also go to the press tell your story. You can get your story in the news, radio, or any other media that will let you. The easiest way to get your story published in the press is to write your story, email it to as many editors as possible. This is especially good when you think the creditor is treating you unfairly and the debt collection practices involved could potentially hurt other citizens.

Related posts

• Credit Rights & Debt Collection Rights
• Fair Debt Collection Practices Act
• Disputing a Debt
• Debt Collection Lawsuit
• Collection Agencies