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CREDIT REPAIR REALITY
CREDIT REPAIR BIOGRAPHIES
The following credit repair subjects have given us permission to publish their names and the events surrounding our credit repair service. We are going to follow them from the point of ordering their credit reports through the dispute process. We will give you a play-by-play analysis of the successes we've had and the companies who are holding up the process.
Frankie Fuchs
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Frankie Fuchs - Regina, SK
Credit Problem - Consumer Proposal
Frankie hasn't been able to get credit anywhere for 5 years
Status of Credit Repair Service - Currently ordering his credit reports from Equifax and TransUnion
Date Job Started: September 28, 2004
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October 26, 2004 - First reply from Equifax.
Frankie Fuchs receives a form letter from Equifax that states the following:
"Because of the nature of your dispute, we must speak with you in order to resolve your issue. Please contact the National Consumer Relations department…"
Frankie has waited over a month and still has not received his credit report from Equifax. He just received some jargon that is making it very difficult for him to see his own personal credit history. Without his credit report, Frankie cannot see what's listed about him, let alone dispute any items!
ECR sent in Frankie's proper ID all of the required documents. By law, Frankie should be getting his credit report. This is why we're doing credit repair reality to show the types of problems we have been having with Equifax and TransUnion.
November 1, 2004 - RE: TransUnion. We haven't as of yet heard anything from TransUnion regarding Frankie. We ordered his credit report on September 28, 2004. That's over 1 month that Frankie hasn't heard anything.
December 2, 2004 - Frankie gets his Equifax credit report FINALLY!
Frankie has not got his TransUnion report yet because TransUnion is demanding that we send the credit report order form with his signature. We have sent his proper ID to transunion but that is not enough. We'll be sending the full package to TransUnion and Frankie will now have to wait another month to get his TransUnion report.
Frankie (the client) was delinquent on his cell phone bill Sasktel Mobility. He owed $420.00
He filed for Consumer Proposal in December 2001. The cell phone bill was included in the consumer proposal.
A few months later, the client gets a collection call from a collection agency for the cell phone bill. Apparently the cell phone company didn't stop the collection proceedings. The client gets TWO collection notations on his credit report.
I called the Sasktel Mobility the cell phone company and the manager of accounting said, "Well, he should have some type of notation on his account showing he was delinquent."
Points to know from this transaction
1) The client should not have been collected because the item was in consumer proposal which is protected by law.
2) It is the accounting managers opinion that my client should have "something" on his credit report to show the delinquent account.
The point to this discussion is, sometimes important people in important companies don't know the regulations. You need to challenge them diligently to make sure you get your rights taken care of.
We'll be writing to Ministry of Justice - Consumer Protection about this on behalf of Frankie Fuchs.
ECR'S COMMENTARY
Even though we're just starting work for Frankie, we'll have to keep in touch with TransUnion. They're usually very difficult to deal with when people order their credit reports.
Frankie's consumer proposal should prove interesting as there are usually a great deal of reporting problems associated with them with both Equifax and TransUnion in Canada.
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Ken Thomas
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Ken Thomas - Whitewood, SK
Credit Problem - Alot of collections
Status of Credit Repair Service - Currently ordering his credit reports from Equifax and TransUnion
Date Job Started: September 28, 2004
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October 26, 2004 - First reply from Equifax.
Ken got the same response as Frankie Fuchs. He received a form letter from Equifax that states the following:
"Because of the nature of your dispute, we must speak with you in order to resolve your issue. Please contact the National Consumer Relations department…"
Ken now has waited over a month and still has not received his credit report from Equifax. He just received some jargon that is making it very difficult for him to see his own personal credit history.
ECR sent in Ken's proper ID all of the required documents. By law, Frankie should be getting his credit report. So far Equifax is showing their true colors so far.
November 1, 2004 - RE: TransUnion. We haven't as of yet heard anything from TransUnion regarding Ken. We ordered his credit report on September 28, 2004. That's over 1 month that Frankie hasn't heard anything.
November 1, 2004 - I'm sending off complaint letters to the Saskatchewan Ministry of Justice - Consumer protection. We'll see how they help us.
ECR'S COMMENTARY
We are excited about Ken having collections on his credit report. We have a problem with collection agencies and the fact that THERE ARE NO LAWS THAT SAY YOU HAVE TO DEAL WITH THEM! This is not well known logic in Canada. Hopefully with Ken's situation, we'll be able to prove our theories in a public light.
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Monty Loree
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Monty Loree - The Credit Repair Man
Credit Status - Perfect Credit
Status of Credit Repair Service - We have been disputing items on both Equifax and TransUnion since January 2004
Date Job Started: January 25, 2004
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ECR'S COMMENTARY
Even though Monty has no derogatory items on his credit report, he has had many errors that needed straightening out. Especially on his TransUnion report. We have been disputing some items for 7 months.
IMPORTANT: Monty's score increased by 85 points with TransUnion and 56 points with Equifax by disputing inaccurate items.
MONTY SAVED MONEY
The point is that, even if you have perfect credit, you still may be able to increase your credit scores and save money on interest rates and finance charges. Monty saved 2.75% on a line of credit, and was able to get substantial credit increases with two credit facilities, because of the higher credit scores.
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Joe X
Client wishes to remain anonymous.
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Joe X
Credit Problems - Bankruptcy and bad reporting
Status of Credit Repair Service - We have been disputing items on both Equifax and TransUnion since June 15 2004
Date Job Started: June 15, 2004
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The problem with this clients report is that all of the creditors included in his bankruptcy keep reporting late payments to TransUnion 3 years after the bankruptcy was filed. This problem is not happening with Equifax. His credit score keeps going down each month and it is not his fault.
EXAMPLE TransUnion CREDIT ITEM IS LISTED AS FOLLOWS:
Royal Bank
R9
Revised Date: 04/2004
Balance: $6812.00
Individual
Opened: 07/1996
High Credit: N/A
Payment Terms: Monthly $0
Last Day of Activity: 05-2001
Past Due: $0.00
Credit Limit $7000.00
Remarks: Included in Bankruptcy
4 times 30 days late
2 times 60 days late
28 times 90 days late
The client has NEVER been late on making a payment. When he declared bankruptcy he was current on all of his bills. This client has approximately 10 listings like this and they are all incorrect.
Can you spot the errors with this credit item?
Joe X's Commentary - "I am very busy with my business. I don't have the time and inclination to sit and fight the credit bureaus on my own. That's why I turned to ECR for help. The process has been slow, but I know that we're making progress. Thanks Express Credit Repair.
VIDEO INTERVIEW - We'll be publishing an interview with Joe X in the near future - Stay Tuned.
ECR Commentary:
TransUnion has in a few letters said that they have verified the correctness of this record. Clearly they haven't. They need to be accountable to the Justice system for their wrong doing on this matter. The client is suffering because TransUnion doesn't know how to or doesn't want to deal with this problem.
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ECR'S OVERALL COMMENTARY
As all of our 5 people get started into our program, we will be talking about all of the aspects of the problems and triumphs that we're having with credit bureaus, creditors, collection agencies and everyone else listed on their credit reports. We'll also give updates from time to time as to how our credit repair services are affecting the lives of these people.
We appreciate the cooperation of these people as it is not easy to make public their financial matters. We feel it is necessary however, as it will help more people to understand about credit repair. As well, we need to bring light to the lack of control that the consumer has with their personal credit information on their credit reports.
November 1, 2004 - So far Equifax
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