Remove Collections Using The National Consumer Assistance Plan

Remove Collections using the National Consumer Assistance Plan.

In March of 2015 the New York Attorney General entered into an agreement with the three major repositories. They agreed that changes would be made regarding how some debts would show up on consumers credit reports.

One of those things was how a debt was showing up without the consumer actually signing for that debt. Meaning that if a consumer received a parking ticket those things were showing up on consumers credit reports. That’s not really a debtor agreement that a consumer entered into. The consumer did not agree to pay back that debt.

I’m not advocating consumers not pay their bills but if they did not enter into the agreement to repay something, it is not really a debtor relationship and that really shouldn’t be on the credit report. There were library fines and other things showing up on consumers credit reports that was not a contractual obligation.

How can you remove Collections Using The National Consumer Assistance Plan and address that type of collection? Consumers need to write a letter to the repository that says that they never enter into any agreement with the creditor. They never actually agreed to pay them back and then reference the act. I’ll put an example letter down below this on my blog but consumers actually need to reference the National Consumer Assistance Plan in their letter.

Repositories,

I am disputing the account indicated XXXXXXXXXX on my credit report dated XXXXXX. I never entered into a contractual agreement with XXXXXXX and per the National Consumer Assistance Plan it should have never appeared on my credit report. Please remove it as soon as possible and send me a notification that this has been corrected.

Thank you

Name/ address phone and email.

If consumers write a letter this and mails it to all three repositories. Any debt, like a library fine or something that consumer didn’t actually agree to pay for should come off their credit report. I’m not advocating again that consumers don’t pay their debt. They should always pay their debt. This video along with all my other videos does not offer legal advice. They are meant to strictly offer my opinion.

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I think it’s a very important thing that the National Consumer Assistance Plan came out with and hopefully you can use this for good and not evil but just want to share that with you.

Trended Credit Data Unintended Consequences
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Trended Credit Data Unintended Consequences

Trended Credit Data unintended consequences.

If you want to see more videos about credit and credit scoring check these out at www.thecreditguy.tv. If  you are a mortgage lender please share this on your Facebook or LinkedIn page.   If you have any questions, leave them down below I’d be happy to answer them.

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7 secrets of a perfect credit score

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Go to www.getloanready.com to find other ways to improve your credit score. I’m Dave Sullivan here for the credit guy TV so you with a little bit me we’re going to change the credit industry thank you

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