Re: [tips_and_tricks] Financial world help.
I appreciate the info. I figured this was the course.
I did mention in my initial email that it was sold of to some collectors. So they may be the attorneys you make mention of. If it was...what is the procedure then?
If it was done with her (his x-wife but wife at the time) SSN and he had no knowledge of it, then can it be on his credit report simply because they were married. He was and still is in the Navy.
pd wrote:Tim -- Your brother should get a current copy of his credit reports from all three major credit reporting agencies (CRA). Under the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA), anyone is allowed to challenge what they consider to be a false or incorrect report on their credit. In this particular case your brother would challenge the $8,000 amount with a demand for the CRA's to verify and validate the amount. Generally, the CRA will send a letter back on about the 20th day stating that it looks like the information is correct to them. To be correctly validated, the CRA must have contacted the reporting entity and the reporting entity must have supplied them with documented proof of claim. As a rule, this does not happen. So, you wait until about the 25th day after you contact them (always via certified mail so you have a paper trail) and give them an additional five calendar days to get the proper validation to you or, in the alternative, the CRA must clear the entry off your credit report. In the event they fail to do so, it is worth up to $1,000 per failure to clear the record through a FDCPA or FCRA lawsuit that can be filed in your local district court. For further information you can get a lot from a google search on the two acts mentioned here. Your brother will have an entire different set of things to do in the event some group of lawyers purchases the debt and tries to collect on it. pd
Tim <timcostello@...> wrote:
Long story made very short.