Imagine the ability to payoff your debts by suing your creditors and collectors and winning.
Sounds too good to be true, doesn’t it?
How is this possible?
Creditors and debt collectors blatantly violate state and federal laws all the time.
IF THEY DO, YOU CAN SUE!
The key is knowing the law so you know when they are violating it.
It may not be that far outside of your present reality, but if you are simply provided a little dose of reality and current laws related to credit reporting and collections you can soon be on your way to suing your creditors and debt collectors and letting them pay off your debt.
Here are the top 5 things most people don’t know as it relates to credit restoration:
- You can sue your creditors for reporting inaccurate information and win up to $1000 per account per credit bureau ($3000)
- You can sue collectors for calling you after they have been legally informed not to
- You can settle accounts outside of court for even larger amounts than you can legally win in court
- You can require creditors & collectors to provide you with all of the original signed loan documentation, applications, disclosures, records of payments, etc., by simply sending them one simple letter
- You can require debt collectors to provide you a copy of their license proving they are licensed to collect in the state you are in.
That’s right!
Let’s break each one of these down in further detail:
- Suing Creditors- Is your creditor reporting knowingly incorrect derogatory information on your credit report or did they illegally receive a judgment under false pretenses? Armed with a little knowledge of the law and small claims court procedure, you can effectively sue creditors who are knowingly reporting incorrect information on your credit report or who have illegally obtained a judgment against you by providing knowingly fraudulent information to the judge. To do this, you must have followed a very specific, but simple procedure of dispute and debt investigation (you simply send two letters at specific intervals). If they fail to respond, respond with insufficient information proving the debt is yours or verify that the debt is not yours but continue reporting anyway, you can sue them in small claims court in your county for the whopping expense of usually around $25-$50 for the small claims court filing fee and a few minutes of your time. In the case of a judgment that has been illegally obtained against you due to fraud, you must simply file a motion to vacate which costs around the same amount.
- Suing Debt Collectors- Once you have legally served a debt collector in writing with a cease and desist letter, they are required by federal law to immediately stop calling you. They are legally permitted to contact you one more time only to let you know that they will either no longer be proceeding or that they will be proceeding with collection efforts via other venues. Beyond that, they are not legally allowed to contact you again via phone for any reason. If they do, you can sue! Have you ever had debt collectors harass you because they thought you were someone else simply because your phone number was the phone number of one of their borrowers before you got it or because you have a name that someone else also has (John Smith, for example)? If so, you need to check out how this guy used his Google Voice account and cell phone to generate prima facie evidence to use in small claims court and win $5,000. His expense? $35 and twenty minutes of his time. Read the full article here
- Settling Out Of Court For More Than You Can Legally Win In Court- Hard to believe, but true. If you start filing small claims court suits against creditors and collectors from other cities and states, in many cases it is simply cheaper for them to settle with you out of court than it would be for them to have an attorney appear and try the case. The largest majority of all law suits filed settle before ever reaching a judge or jury. The number one reason for this? The cost to the get the case all the way to trial. Small claims court is different than a civil filing in circuit court but the principle remains the same. All it takes is a few dollars and a few minutes to fill out and file a form.
- Requiring Creditors & Debt Collectors To Provide You With Documentation- Another little known fact by consumers is that you can legally require creditors and debt collectors to jump through a myriad of hoops and provide you with a ton of paperwork, notes, loans, applications and licenses proving the validity of the debt they are reporting and/or attempting to collect on as well as their legal ability to collect. In most cases, through negligence, neglect or acquisition by another company, creditors don’t always have this information, collectors rarely do and most of the time they won’t provide it. Why not? Because generally if someone knows that aspect of the law they know the game is up and they are in for a fight. What they want are laydowns with people who don’t know the law who they can badger into paying them on debts they cannot legally collect in many cases.
- Requiring Collectors To Provide You With Their State Licensing- If your state requires a license to be a debt collection company (most do), with one simple letter, you can require them to legally provide you with a copy of their license and legal proof of their authorization to collect on that debt. As previously mentioned, in most cases, they will never provide this information. They will simply fail to respond thereby negating their legal ability to collect on the debt, and if properly handled, enable you to get the derogatory account legally removed from your credit bureau.
Creditors, debt collectors and attorneys hate having the shoe put on the other foot. They absolutely hate being served with pro se complaints (pro se means you represent yourself without an attorney), especially legitimate ones they know they cannot win.
So remember this little catch phrase as it relates to creditors, debt collectors and attorneys violating state and federal law:
If they do, you can sue!
Did you find this post informative? Have more questions? Leave them in the comment box below.
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See what others have to say about Credit Repair College’s Membership Program after only 69 days, legally eliminating 26 of 32 accounts and more than $10,000 in debts owed that now no longer have to be paid:
At this rate I estimate another 60 days and my credit woes will be eliminated. Thank you for being a seller of truth and not a seller of promises. Again I can truly say I am better to have known you. ~Sarah
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