3 Federal Statutes That Can Help Add 200+ Points #3

Hey there, Yusheeka Gray here with DIY Credit, and I am back with the third and final federal statute that can be used to add up to 200 plus points to your credit score. 

Now, I've already talked about a couple in previous videos, the Fair Credit Recording Act, as well as the Fair Debt Collection Practices Act.

But in this video, we're going to focus on the Fair Credit Billing Act, aka the FCBA, which governs original creditors. And so by the end of this video, you should have a pretty good idea of what's expected and required of original creditors, as well as how you can use this federal statute for your disputes, okay. 

So there are multiple things that are required of them. One of the biggest things that is required of an original creditor is to maintain an original signed contract on file. If they don't have that, they can't verify the account. 

The second thing is they are required to bill you correctly and also to properly facilitate disputes, the kind of disputes that you might be submitting in regard to your credit report. And in addition to that, they're also required to provide any information concerning the account upon request and in a timely manner. And so this means that you can actually bombard them basically with tons of information that they probably won't have. You can ask for the original signed contract. You can ask for a copy of the photo identification that was provided at the time of originating the account. You can ask for an itemized accounting or an itemized statement of account. If they don't have these things and anything else that you can think of, then they can't verify the account and therefore they can't report it. So this can be used to dispute things like charge-offs and late payments and so forth. 

I hope this is helpful to you in your disputes. If you have any questions about your credit and/or would like to request a free victory consultation, please give us a call at (803) 240-8344 or (803) 784-8100.

Thank you so much for watching, and bye for now.

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