Key Points – Melody Crutchfield

KEY POINTS TO CONSIDER

As soon as you hire a credit restoration company, you give up most of your consumer rights and credit restoration is almost useless. The bureaus have a tricky way of knowing this. Keep the law on your side and save money at the same time. Do it yourself!

Just about every federal law is on YOUR side. The Fair Credit Reporting Act protects you, the consumer, so that these big multi billion dollar corporations “The Credit Bureaus” can’t take advantage of you.

Many of the collection agencies are owned by the credit bureaus. That’s right! That collection letter you received in the mail about a past due bill most likely came from one of the bureaus. This is why it’s so important to know your rights.

The credit bureaus are simply record keepers and nothing more. They are in the business to make money. They are not doing a public service. They sell your information over and over again for profit.

When you perform a dispute online, you give up the consumer protection afforded to you in The Fair Credit Reporting Act. This is why it is always best to perform disputes via the US Postal Service. The dispute letter you send in does not even get a chance to be seen by a pair of human eyes. The credit bureaus use a high tech web based software called e-Oscar, which basically scans the dispute and then attempts to categorize the letter with a two-letter code. As of 2019, there are 26 codes that e-OSCAR uses, some of which are “Not his/hers” and “Claims account closed.”