How to remove ACCURATE negative accounts


for the first video I decided to choose something very basic so I’m going to cover two different things so Raymond Davis said he wants to learn about the credit terms such as charge-offs collections etc and what the differences are and then I don’t buy a bull once to learn to remove an accurate not inaccurate but accurate negative accounts that’s running their credit so what I did was I just made a one pager and you can find the link to the sound description box so we have collections third-party collections debt buyer charge offs repossessions foreclosures hiring freeze and late payments so very simply collections that are third party is basically when the original creditor I you know cannot collect on a debt and they hire a collection agency to try to recover the debt um so neither the original creditor or the collection agency are paid unless the debtor actually pees on this and the agreement would look here like 40 60 or 60 40 I’m cher show what that would mean is that if the debt is $100 then you know someone won’t get 60 bucks and someone would give 40 bucks if it’s paid on or no vice versa so a debt collector and as a debt buyer is a little bit different so the example that I used is the same example in the article that I shared the other night where Capital One is original creditor and they sell a $10,000 debt to portfolio recovery on and off people say recovers will say recovery for $2,000 so portfolio recovery is literally purchasing the debt for 2,000 but they can actually attempt to collect $10,000 out of the $10,000 even though they only paid $2,000 for it so I’m Capital One writes off $8,000 okay so I’m this is to a charge off is basically you know sold somewhere after six months to a debt collector if they’re in fact one to sell the debt sometimes the original creditor actually keeps the account and never sells it so that is the difference between those two collection types so then we have charge-offs so a chargaff is where I’m the original creditor cannot recover the debt and they write it off as unrecoverable so this is kind of like we use an example with a Verizon Verizon normally does not sell to a collection agency although in some cases they do and I would say nine times out of ten I see it happen where they sell it to Jefferson beside that they keep it in-house and they do not sell it and they basically write it off okay so I’m a repossession is either voluntary or involuntary and voluntary is obviously and then you give the vehicle back and involuntary they came and like swooped it from your driveway or you know while you were at the taco stand whatever so a repossession that is very difficult to get off but if you do a google search you can actually find the a letter that can be used for accounts that are older than two years meaning the repossession occurred more than 20 years ago and they have not taking you to court and it’s very very very effective okay so foreclosures that’s where the mortgage property is reclaimed after the mortgage or fails to pay and hard inquiries so a creditor inquired into a consumers credit report in the inquiry shows as you know creditor name and the date they inked reoccurred and then lastly late payments I do not have you know any public records on here those are very very simple to understand bankruptcies tax liens evictions but a late payment occurs when the consumer does not pay for an account on time or within the grace period you know if there’s actually one that exists so some consumers argue that they were not thirty days late and that they were only ten days late but I mean regardless of ten days or 30 days they still read part I sees me report thirty days because we’re not going to report you is ten or eleven easily I’m the second thing was removing accurate negative accounts so basically what I’m stating here is a weather and account is accurate or inaccurate reported on one’s credit it must be legally verified so how do you actually get an accurate negative account remote so basically you need to get them to legally verify it when I say illegally that means that they can’t just state to the consumer excuse me that the creditor has verified the consumers account so an account may state that a consumer has a balance of $10,000 but whether it’s reporting to accurately were inherently you know I must be legally verified by initiating an investigation with a credit bureaus so to remove and accurately list an item let’s say that a consumer does in fact over ten thousand bucks you know that means that the balance is accurate but what about the other elements of the account such as the open date monthly payment high balance last payment date etc so you need to look at the entire account literally the whole shebang so if the account was disputed was a required knows these few entered within the required 30-day time frame from the date they received the notice to be the dispute letter for section six twenty three it literally has to say disputed by consumer or you know something like that okay so if not then it’s not reported accurately and the count has to be removed or did they send proof that the balance is reported accurately or did they just say that the creditor verified it so another example would be if a $10,000 account is charged off insult an LVN be not l and being then they have to report it as sold because they no longer own the account so if the collector now reports the debt on the credit report there’s only one that can report the bounce so I mean is it accurate that the ten thousand dollars you know that the $10,000 account was sold yes is it accurate that ovn be known as I can yes but what about who’s recording the balance and whether the original account as you reported accurate we accurately regarding the ownership so you have to look at the entire breakdown of the account you can even look at things like the account terms and that account type so just because something is reporting accurately whether that be the balance or I’m you know the monthly payment or whatever you need to look at the every single element of the account and I know that I’m reiterating it but that’s very very important so it doesn’t matter whether you own that account where there it you know you know about it whether the balance is accurate whether the open date is accurate look at the other things and dispute whatever you can in order of importance like I’ve shown you in other videos and you’ll be able to get that account removed because remember it has to be legally verified okay because otherwise they’re just reporting whatever the hell they want to because they’re being paid to do so okay saying you actually have to force them to initiate an investigation so I’m I am going to be posting another one next Wednesday or Thursday more than likely it’s going to be Wednesdays so 10:00 p.m.

Eastern Standard Time and this week Sunday is going to be another live giveaway and it’s going to be to a mother because it’s Mother’s Day so if you’d like your free consultation for a credit sweep you can schedule yours today at expert credit sweeps Calm forward slash book – online which is this link that you see right here all right extra credit we’ve comp or slash book – online if you need help and you’d like me to take over your credit suite so I

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