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Debt Consolidation Facts

1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will identify you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair Isaac).

2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% - 30%!

3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have at least 2 credit cards and 14% of them have 10 or more credit cards.

Make Money & Repair Your Credit History by Suing Credit Bureaus & Debt Collectors

(March 28th, 2007)

Many credit bureaus are careless when handling the credit reports of millions of consumers. Afterall, any mistake on your credit report could deny you a mortgage loan or a new car! If you fight against these wrongdoings, you could win good amount of cash! 1 violation carried out by a Credit Bureau or a debt collection agency results in a fine of $1000 immediately. This means you will have an extra $1000 cash in your pocket, and you are punishing the violators of the Consumer Law. This is a good thing! By punishing the wrongdoer, you will be protecting your rights as a consumer, and the rights of millions of other consumers.

In the table that follows, we list the type of collection agencies or credit bureaus that you can sue, why you can sue them, the appropriate supporting law and the monetary value of the punishment $$$.

Who? Why? Appropriate Law Punishment
Creditors Inaccurate credit history entries - Financial Injury & Defamation

- US Court of Appeals, Ninth Circuit, No. 00-15946, Nelson vs. Chase Manhattan
Court will decide monetary value of punishment
Creditors If you dispute their debt, and they fail to report it to the Credit Bureaus Fair Credit Reporting Act Section 623.  $1000

- If creditors check your credit report without a valid reason.

- Negative entries on your credit report and negative credit score.

Fair Credit Reporting Act Section 604 (A)(3)  $1000
Credit Bureaus If you provide proof of invalid negative entries on your credit report and the Credit Bureaus refuse to correct it. Fair Credit Reporting Act Section 623. Court will decide monetary value of punishment
Credit Bureaus If Credit Bureaus re-insert a removed negative item from your credit report without informing you in 5 business days. Fair Credit Reporting Act Part (A)(5)(B)(ii) $1000
Credit Bureaus If Credit Bureaus fail to respond to your written disputes within 30 days Fair Credit Reporting Act Section 611 (A)(1) $1000
Creditors or Collection Agencies If they attempt to Re-Age your delinquent accounts in efforts to keep the negative items longer on your credit report. Fair Credit Reporting Act Section 605.  $1000
Collection Agencies If they do not attempt to validate your debts owed but still pursue debt collection efforts and harass you. Fair Debt Collection Practices Act FDCPA
Section 809 (b).
Collection Agencies If you send them a "Cease & Desist" letter but they still contact you by phone. Fair Debt Collection Practices Act FDCPA
Section 805 (c).
Collection agencies If they have not done any validation on your debts owed but still report it to the Credit Bureaus. Fair Debt Collection Practices Act FDCPA
Section 809
Debt Collector If they call you after 9pm at night or before 8am in the morning. Fair Debt Collection Practices Act FDCPA
Section 805 (a)(1)
Debt Collector If he calls you at your place of employment knowing that your boss or your workplace rules do NOT allow you to receive such kind of communication. Fair Debt Collection Practices Act FDCPA
Section 805 (a)(3)
Debt Collector Calls an unrelated third party such as your friends, relatives or neighbours. Fair Debt Collection Practices Act FDCPA
Section 805
Collection Agency If they use any type of harassment or abuse when communicating with you. Fair Debt Collection Practices Act FDCPA
Section 806
Debt Collector If they threaten to garnish your wages, seize your property or have you arrested. Fair Debt Collection Practices Act FDCPA
Section 807