William E. Lewis Jr & Associates opens new location in Davie

As a nationally recognized credit repair and identity theft expert, Bill Lewis is principal of William E. Lewis Jr. & Associates, a solutions based professional consulting firm specializing in the discriminating individual, business or governmental entity, in Fort Lauderdale, Florida.

As a nationally recognized credit repair and identity theft expert, Bill Lewis of William E. Lewis Jr. & Associates – a solutions based professional consulting firm specializing in the discriminating individual, business or governmental entity – announces the opening of a new office in Davie, Florida.

Having outgrown their former location, William E. Lewis Jr & Associates recently moved to 6099 Stirling Road, Suite 210, Davie, FL 33314. 

Formerly with Credit Restoration Consultants, Bill Lewis has been widely sought by many in the restoration of their personal credit worthiness.  As such, a new credit repair component was formed.

In tough economic times, your good name and reputation are more important than ever. Creditors have tightened their guidelines effectively barring millions of Americans from obtaining credit.  Even those with excellent credit are experiencing reduced credit limits and closed equity lines. Mortgage lenders, auto finance companies, credit card issuers and banks have all raised the bar.

The terms credit repair, credit restoration or credit rehabilitation are somewhat synonymous. Those with bad credit histories cannot afford to ignore the potential benefits of credit repair. In today’s economy, a strong FICO score is more important than ever.

Approximately 78% of credit profiles in the United States contain some sort of error or omission materially affecting credit worthiness.  Absent self-help and the “do-it-yourself” approach, a consumer may hire a credit repair company in the restoration of their good name and reputation within the community.

Long gone are the days of obtaining credit, goods, benefits, services and/or employment with a 620 score. In most instances, a consumer will be denied if they maintain a credit score lower than 740. Even those with high credit scores have experienced closed credit card accounts and equity lines.  When an account has not been closed, credit limits have been reduced to the current balance due.

Borrowers with low credit scores can expect to be denied or to pay significantly higher interest rates than those with excellent credit.

Operating within William E. Lewis Jr. & Associates is a boutique credit service organization specializing in the restoration of consumer credit worthiness as well as identity theft. Assisting consumers in achieving a favorable financial credit profile is their first priority.

Everything they do at William E. Lewis Jr & Associates is legal utilizing laws enacted by Congress to dispute negative, erroneous, obsolete, and/or fraudulent information contained within your consumer credit profile.

Utilizing the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, and the Fair and Accurate Credit Transactions Act, William E. Lewis Jr & Associates will assist consumers in the submission of disputes electronically, verbally and in writing to the Equifax, Experian and Trans Union consumer reporting agencies in addition to creditors, collection agencies, third-party record providers and state/federal/private regulatory authorities.

Unlike most credit repair clinics that submit the same written dispute letters monthly, William E. Lewis Jr & Associates has devised a credit restoration strategy utilizing the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, the Fair and Accurate Credit Transactions Act, in addition to laws applicable to a consumers state of residence. 

Keep in mind that anything William E. Lewis Jr & Associates can do – you can do yourself.  That means that you do not have to hire William E. Lewis Jr & Associates – or any other credit repair company – to review, investigate and/or dispute alleged discrepancies on your credit report.

Where William E. Lewis Jr & Associates may have an edge over the average consumer is that we possess the education, knowledge and a source proven method that consistently yields results.

William E. Lewis Jr & Associates has obtained thousands of deletions and updates for its clients and can help remove erroneous and/or inaccurate judgments, liens, bankruptcies, student loans, inquiries, derogatory accounts, personal identifiers, arrests, etc.  While the credit restoration process can take anywhere from 30 days to six months, most clients see dramatic results in 45-60 days.

Credit repair, credit restoration and/or credit rehabilitation is as legal as pleading “not guilty” in a court of law. With that said, one must understand that as a credit service organization William E. Lewis Jr & Associates is not a law firm and that none of their employees is an attorney licensed to practice law in the state of Florida.

As such, William E. Lewis Jr & Associates cannot provide legal advice nor represent any individual before any court or in any legal proceeding.  In the event that legal representation is required, William E. Lewis Jr & Associates may provide an appropriate attorney referral for consultation. 

Ordering Free Credit Reports:

Under the Fair Credit Reporting Act, as modified by the Fair and Accurate Credit Transactions Act, consumers are entitled to a free copy of their credit report under a narrow set of circumstances.  If you have been denied credit, goods, benefits, services, insurance, and/or employment, the credit reporting agencies of Equifax, Experian and Trans Union are statutorily mandated to provide a copy free of charge.

Equifax can be contacted at (800) 685-1111 or www.Equifax.com; Experian can be contacted at (888) 397-3742 or www.Experian.com; and Trans Union can be contacted at (800) 916-8800 or www.TransUnion.com. Be sure to prompt that you were denied credit when requested to do so.

Absent these exceptions, consumers are entitled to one free “annual credit report” per year. Credit scores are not included with any of the “free credit reports” provided by the national credit reporting agencies.

For your free annual credit report, contact the central source at 877-FACT-ACT (877-322-8228) or www.AnnualCreditReport.com. Follow the voice prompts and obtain your credit report for review.

When self-help or the “do-it-yourself” approach is not feasible and you decide to hire a company to restore your credit, be sure to check them out.  While the majority of credit repair clinics are scams, a few good ones do exist.  Consumers can check out a credit service organization through their state Attorney General, the Federal Trade Commissionat www.ftc.gov or through the Better Business Bureau at www.BBB.org.

For more information, please contact William E. Lewis Jr & Associates at (954) 337-1530 or visit them on the Internet at www.williamlewis.us.

_____________________________________

As a nationally recognized credit repair and identity theft expert, Bill Lewis is principal of William E. Lewis Jr. & Associates, a solutions based professional consulting firm specializing in the discriminating individual, business or governmental entity.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 11,550 plus fans on Facebook at: http://www.facebook.com/thecreditreportwithbilllewis.

Identity theft protection services are a waste of money

If you are one of the 48 million Americans who purchased some sort of “identity theft protection” service in 2011, you wasted your money.

Identity theft protection services and credit reporting agencies such as Equifax, Experian and Trans Union push statistics like “almost 14 million adults were victims of identity theft in 2011” and “over 100 million Americans have had their personal identifying information placed at risk of identity theft as a result of governmental and corporate data breaches.”

While true, these statements are nothing but scare tactics so you will purchase a service to protect your good name and reputation within the community.

Some of these “identity theft protection services” cost up to $189 annually.

What the credit reporting agencies fail to tell you is that identity theft protection does not cover prior instances of identity theft, IRS tax return filings, account takeovers, the misuse of credit or debit cards, or the establishment of personal identification (such as a driver’s license or Social Security card) in your name.

Americans are spending an estimated $3.5 billion a year on identity theft protection. Recent reports indicate that by 2015, Americans will be spending in excess of $6 billion to protect their identity from theft.

Most of these services are a waste of money as almost all of the services provided are available at little or no cost to the consumer.

There is no reason to pay a monthly or yearly fee for something you can do yourself for free.

Periodically review your credit report

By keeping close tabs on your consumer credit profile, you can detect signs of identity theft early. If you find an account not opened by you and have positively identified it as fraudulent, enter a dispute directly with the creditor as well as with the credit reporting agencies of Equifax, Experian and TransUnion. You can obtain a free credit report at www.annualcreditreport.com or 877-322-8228. When you pay for identity theft protection, this free credit report is one of the “benefits” they tout.

Place a 90-day initial fraud alert on your credit report

Contact the credit reporting agencies and request a 90-day initial fraud alert on your credit report. Not only will this trigger a free credit report but will advise potential creditors to investigate any application prior to issuing credit, goods, benefits, services and/or employment. Contact Equifax at 800-525-6285, Experian at 888-397-3742 and Trans Union at 800-916-8800. When you pay for identity theft protection, this fraud alert is one of the “benefits” they tout. Just be sure to renew the alert every three months.

Freeze your credit report

Identity thieves are frozen in their tracks without access to your credit report as potential creditors will not have access to your credit history. In most states, you are entitled to temporarily “freeze” access to your credit profile without cost if you are over 65 years of age or are a verified victim of identity theft. All others may be required to pay a small fee. Without access to your credit report, a responsible lender will not issue credit. When you pay for identity theft protection, a credit report freeze is one of the “benefits” they tout.

Stop unsolicited credit card offers

Are you tired of junk mail filling your mail box? Opting out at www.optoutprescreen.com or 888-5OPT-OUT will stop most unsolicited pre-approved applications and reduce the incidence of identity theft. Opting out refers to the process of removing your name and address from lists supplied by the Equifax, Experian, Trans Union and Innovis credit reporting agencies to be used for firm (preapproved/ prescreened) offers of credit or insurance. When paying for identity theft protection, opting out is one of the “benefits” they tout.

Purchase a cross-cut shredder

“Dumpster diving” is still a very popular method of obtaining credit card applications and supporting documentation. Purchase a cross-cut shredder that cuts vertically and horizontally, turning sensitive mail into confetti. If you think a torn up credit card application will be rejected by a credit card company, you have not heard the story of how Chase Bank approved a ripped up application.

Victims of identity theft often feel pressured into purchasing additional identity theft monitoring products when contacting the Equifax, Experian and Trans Union consumer reporting agencies to repair their credit. So much so that the Federal Trade Commission has recently reported the conduct in a 73-page report titled: “An FTC Staff Report on a Survey of Identity Theft Victims.”

What the credit reporting agencies fail to tell you is that identity theft protection does not cover prior instances of identity theft. As such, you are not protected and are wasting your money.

The FTC report also found that the vast majority of Americans dealing with identity theft issues were unaware of their rights under the Fair Credit Reporting Act. These rights included the ability to request free credit reports when placing a fraud alert, the ability to block fraudulent information from appearing on their credit reports and to receive a notice of these and other important rights directly from creditors and consumer reporting agencies.

While the Credit Card Act of 2009 mandated a number of changes in relation to “free credit reports,” the area of identity theft protection is an area to watch. Reduced fees in one area will only mean enhanced fees in another. There is no reason to pay a monthly or yearly fee for something you can do yourself for free.

Bill Lewis is the principal of William E. Lewis Jr. & Associates and host of “The Credit Report with Bill Lewis” — a daily forum for business and financial news, politics, economic trends and issues on AM 740 WSBR in south Florida.

William E. Lewis Jr & Associates announces the formation of a credit repair component

William E. Lewis Jr. & Associates, a solutions based professional consulting firm specializing in the discriminating individual, business or governmental entity, is proud to announce the formation of a credit repair component.

Facing uncertain economic times, Bill Lewis – formerly with Credit Restoration Consultants – has been widely sought by many in the restoration of their personal credit worthiness.

Approximately 78% of credit profiles in the United States contain some sort of error or omission materially affecting credit worthiness.  Absent self-help and the “do-it-yourself” approach, a consumer may hire a credit repair company in the restoration of their good name and reputation within the community.

In tough economic times, your good name and reputation is more important than ever. Creditors have tightened their guidelines effectively barring millions of Americans from borrowing money. Even those with excellent credit are experiencing reduced credit limits and closed equity lines. Mortgage lenders, auto finance companies, credit card issuers and banks have all raised the bar.

The terms credit repair, credit restoration or credit rehabilitation are somewhat synonymous. Those with bad credit histories cannot afford to ignore the potential benefits of credit repair. In today’s economy, a strong FICO score is more important than ever.

Long gone are the days of obtaining credit, goods, benefits, services and/or employment with a 620 score. In most instances, a consumer will be denied if they maintain a credit score lower than 740. Even those with high credit scores have experienced closed credit card accounts and equity lines.  When an account has not been closed, credit limits have been reduced to the current balance due.

Borrowers with low credit scores can expect to be denied or to pay significantly higher interest rates than those with excellent credit.

Operating within William E. Lewis Jr. & Associates is a small credit service organization specializing in the restoration of consumer credit worthiness as well as identity theft. We assist consumers in achieving a favorable financial credit profile.

Everything we do at William E. Lewis Jr & Associates is legal utilizing laws enacted by Congress to dispute negative, erroneous, obsolete, and/or fraudulent information contained within your consumer credit profile.

Utilizing the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, and the Fair and Accurate Credit Transactions Act, William E. Lewis Jr & Associates will assist consumers in the submission of disputes electronically, verbally and in writing to the Equifax, Experian and Trans Union consumer reporting agencies in addition to creditors, collection agencies, third-party record providers and state/federal/private regulatory authorities.

Unlike most credit repair clinics that submit the same written dispute letters monthly, William E. Lewis Jr & Associates has devised a credit restoration strategy utilizing the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, the Fair and Accurate Credit Transactions Act, in addition to laws applicable to a consumers state of residence.

Keep in mind that anything William E. Lewis Jr & Associates can do – you can do yourself.  That means that you do not have to hire William E. Lewis Jr & Associates – or any other credit repair company – to review, investigate and/or dispute alleged discrepancies on your credit report.

Where William E. Lewis Jr & Associates may have an edge over the average consumer is that we possess the education, knowledge and a source proven method that consistently yields results.

William E. Lewis Jr & Associates has obtained thousands of deletions and updates for its clients and can help remove erroneous and/or inaccurate judgments, liens, bankruptcies, student loans, inquiries, derogatory tradelines, personal identifiers, arrests, etc.  While the credit restoration process can take anywhere from 30 days to six months, most clients see dramatic results in 45-60 days.

Credit repair, credit restoration and/or credit rehabilitation is as legal as pleading “not guilty” in a court of law. With that said, one must understand that as a credit service organization William E. Lewis Jr & Associates is not a law firm and that none of their employees is an attorney licensed to practice law in the state of Florida.

As such, William E. Lewis Jr & Associates cannot provide legal advice nor represent any individual before any court or in any legal proceeding.  In the event that legal representation is required, William E. Lewis Jr & Associates may provide an appropriate attorney referral for consultation.

Ordering Free Credit Reports:

Under the Fair Credit Reporting Act, as modified by the Fair and Accurate Credit Transactions Act, consumers are entitled to a free copy of their credit report under a narrow set of circumstances.  If you have been denied credit, goods, benefits, services, insurance, and/or employment, the credit reporting agencies of Equifax, Experian and Trans Union are statutorily mandated to provide a copy free of charge.

Equifax can be contacted at (800) 685-1111 or www.Equifax.com; Experian can be contacted at (888) 397-3742 or www.Experian.com; and Trans Union can be contacted at (800) 916-8800 or www.TransUnion.com. Be sure to prompt that you were denied credit when requested to do so.

Absent these exceptions, consumers are entitled to one free “annual credit report” per year. Credit scores are not included with any of the “free credit reports” provided by the national credit reporting agencies.

For your free annual credit report, contact the central source at 877-FACT-ACT (877-322-8228) or www.AnnualCreditReport.com. Follow the voice prompts and obtain your credit report for review.

When self-help or the “do-it-yourself” approach is not feasible and you decide to hire a company to restore your credit, be sure to check them out.  While the majority of credit repair clinics are scams, a few good ones do exist.  Consumers can check out a credit service organization through their state Attorney General, the Federal Trade Commission at www.ftc.gov or through the Better Business Bureau at www.BBB.org.

For more information, please contact William E. Lewis Jr & Associates at (954) 337-1530 or visit them on the Internet at www.williamlewis.us.

_____________________________________

Bill Lewis is principal of William E. Lewis Jr. & Associates, a solutions based professional consulting firm specializing in the discriminating individual, business or governmental entity.

The Credit Report with Bill Lewis airs live, Monday through Friday from 7am-8am Eastern Time with an encore presentation Saturday’s at 4pm on AM 740 WSBR. Streaming audio is available at http://www.wsbrradio.com and on air participation is welcome at (888) 721-0074.

If you miss the early broadcast, The Credit Report with Bill Lewis is still available weeknights at 9pm Eastern Time, Saturday’s at 6pm and Sunday’s at 8pm on AM 1470 WWNN by streaming audio at http://www.wwnnradio.com.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 35,550 plus fans on Facebook at: http://www.facebook.com/thecreditreportwithbilllewis.

Don’t waste money on identity theft protection services

Are you one of the 47.5 million Americans who purchased “identity theft protection” last year? If so, you wasted your money.

Credit reporting agencies and identity theft protection services push statistics like “almost 14 million adults were victims of identity theft in 2011” or “over 100 million Americans have had their personal identifying information placed at risk of identity theft as a result of governmental and corporate data breaches.”

These statements are made while prodding you to purchase a service that could cost up to $189 annually. What these companies fail to tell you is that identity theft protection does not cover IRS tax return filings, account takeovers, the misuse of credit or debit cards, prior instances of identity theft or the establishment of personal identification (such as a driver’s license or Social Security card) in your name.

According to recent reports, Americans are spending an estimated $3.5 billion a year on identity theft protection. Most of these services are a waste of money as almost all of the services provided are available at little or no cost to the consumer.

There is no reason to pay a monthly or yearly fee for something you can do yourself for free.

Periodically review your credit report

By keeping close tabs on your consumer credit profile, you can detect signs of identity theft early. If you find an account not opened by you and have positively identified it as fraudulent, enter a dispute directly with the creditor as well as with the credit reporting agencies of Equifax, Experian and TransUnion. You can obtain a free credit report at www.annualcreditreport.com or (877) 322-8228. When you pay for identity theft protection, this free credit report is one of the “benefits” they tout.

Place a 90-day initial fraud alert on your credit report

Contact the credit reporting agencies and request a 90-day initial fraud alert on your credit report. Not only will this trigger a free credit report but will advise potential creditors to investigate any application prior to issuing credit, goods, benefits, services and/or employment. Contact Equifax at (800) 525-6285, Experian at (888) 397-3742 and Trans Union at (800) 916-8800. When you pay for identity theft protection, this fraud alert is one of the “benefits” they tout. Just be sure to renew the alert every three months.

Freeze your credit report

Identity thieves are frozen in their tracks without access to your credit report as potential creditors will not have access to your credit history. In most states, you are entitled to temporarily “freeze” access to your credit profile without cost if you are over 65 years of age or are a verified victim of identity theft. All others may be required to pay a small fee. Without access to your credit report, a responsible lender will not issue credit. When you pay for identity theft protection, a credit report freeze is one of the “benefits” they tout.

Stop unsolicited credit card offers

Are you tired of junk mail filling your mail box? Opting out at www.optoutprescreen.com or (888) 5OPT-OUT will stop most unsolicited pre-approved applications and reduce the incidence of identity theft. Opting out refers to the process of removing your name and address from lists supplied by the Equifax, Experian, Trans Union and Innovis credit reporting agencies to be used for firm (preapproved/ prescreened) offers of credit or insurance. When paying for identity theft protection, opting out is one of the “benefits” they tout.

Purchase a cross-cut shredder

“Dumpster diving” is still a very popular method of obtaining credit card applications and supporting documentation. Purchase a cross-cut shredder that cuts vertically and horizontally, turning sensitive mail into confetti. If you think a torn up credit card application will be rejected by a credit card company, you have not heard the story of how Chase Bank approved a ripped up application.

Victims of identity theft often feel pressured into purchasing additional identity theft monitoring products when contacting the Equifax, Experian and Trans Union consumer reporting agencies to repair their credit. So much so that the Federal Trade Commission has recently reported the conduct in a 73-page report titled: “An FTC Staff Report on a Survey of Identity Theft Victims.”

The FTC report also found that the vast majority of consumers dealing with identity theft issues were unaware of their rights under the Fair Credit Reporting Act. These rights included the ability to request free credit reports when placing a fraud alert, the ability to block fraudulent information from appearing on their credit reports and to receive a notice of these and other important rights directly from creditors and consumer reporting agencies.

While the Credit Card Act of 2009 mandated a number of changes in relation to “free credit reports,” the area of identity theft protection is an area to watch. Reduced fees in one area will only mean enhanced fees in another. There is no reason to pay a monthly or yearly fee for something you can do yourself for free.

Bill Lewis is the principal of William E. Lewis Jr. & Associates and host of The Credit Report with Bill Lewis — a daily forum for business and financial news, politics, economic trends and issues on AM 740 WSBR in south Florida.

Two Memorial Healthcare System employees suspected in identity theft scheme

 

Two employees of the Memorial Healthcare System have been fired and may face criminal charges in relation to an identity theft scheme involving the intended filing of fraudulent IRS tax returns.

The system – which controls the public hospitals of South Broward – began notifying Thursday approximately 9,500 patients that their personal information may have been stolen by the former employees. 

The illegal access allegedly occurred during 2011 and early 2012.

The unnamed former employees are suspected of taking patients’ names, dates of birth and Social Security numbers.  According to the Memorial Healthcare System, no medical records were stolen. 

Patients affected by the information breach are being offered one year of free credit monitoring services as well as call center support.

While awaiting notification, former patients of the Memorial Healthcare System should contact the credit reporting agencies to initiate a 90-day “fraud alert” in an effort to protect their personal information.

Equifax can be contacted at (800) 685-1111 or www.Equifax.com; Experian can be contacted at (888) 397-3742 or www.Experian.com; and Trans Union can be contacted at (800) 916-8800 or www.TransUnion.com.  Be sure to prompt that you are a potential identity theft victim when requested to do so.

For your free annual credit report, contact the central source at 877-FACT-ACT (877-322-8228) or www.AnnualCreditReport.com.  Follow the voice prompts and obtain your credit report for review.

Under the Fair Credit Reporting Act, consumers are entitled to a free copy of their credit report under a narrow set of circumstances.  If you have been denied credit, goods, benefits, services, insurance, and/or employment, or are a potential victim of fraud, the credit reporting agencies of Equifax, Experian and Trans Union are statutorily mandated to provide a copy free of charge.

Guide to Credit Reports, Credit Scores

Attention is focused on new financial regulations enacted as part of the Dodd-Frank Act.

Earlier this year, the Federal Trade Commission announced final rules requiring creditors to provide consumers’ with a “risk-based pricing notice” when granting credit on less favorable terms than it provides other consumers.

To assist consumer understanding of these new rules, the U.S. Federal Reserve has unveiled an online guide to credit reports.

This straight-forward guide includes information on credit reports and credit scores, how they are utilized in credit granting decisions, unsolicited credit offers, credit repair and how to protect your personal information from fraud.

Released on Wednesday, the “Consumer’s Guide to Credit Reports and Credit Scores” is meant to complement consumer-protection laws that Congress enacted several years ago.

Under the Fair and Accurate Credit Transactions Act of 2003, lenders – starting in January – will be required to tell consumers when adverse information on their credit reports is going to result in higher rates and fees for mortgages, credit cards and other loans.

In today’s tough economy, a strong FICO (Fair Isaac) credit score is more important than ever. Studies show that approximately 78 percent of credit profiles in the United States contain some sort of error or omission materially impacting credit worthiness.

As creditors tend to offer favorable terms to consumers with good credit histories and more costly credit to those with poor credit histories, the guide is intended to assist them in disputing negative and/or inaccurate information prior to making an application for credit or employment.

Under the “risk-based pricing” rules, consumers hit with the less favorable credit terms can also obtain a free credit report to check its accuracy.

Under the Fair Credit Reporting Act, as modified by the Fair and Accurate Credit Transactions Act, consumers are entitled to a free copy of their credit report under a narrow set of circumstances.

If you have been denied credit, goods, benefits, services, insurance, and/or employment, the credit reporting agencies of Equifax, Experian and Trans Union are statutorily mandated to provide a copy free of charge.

Absent these exceptions, consumers are entitled to one free “annual credit report” per year. Credit scores are not included with any of the “free credit reports” provided by the national credit reporting agencies.

Equifax can be contacted at (800) 685-1111 or www.Equifax.com; Experian can be contacted at (888) 397-3742 or www.Experian.com; and Trans Union can be contacted at (800) 916-8800 or www.TransUnion.com.

Be sure to prompt that you were denied credit when requested to do so.

For your free annual credit report, contact the central source at 877-FACT-ACT (877-322-8228) or www.AnnualCreditReport.com. Follow the voice prompts and obtain your credit report for review.

Consumer advocates say additional work is needed to address concerns about credit reports and credit scores. “The main problem is really with credit reports – they’re just plagued with inaccuracies,” said National Consumer Law Center attorney Lauren Saunders. “It’s a nightmare for consumers to get anything fixed.”

Saunders said she is expecting the FTC and the new Consumer Financial Protection Bureau, the first agency to be charged with protecting consumers from abusive financial products, to take more action in addressing consumer concerns about credit reports.

Acting as a primer to the uneducated individual, the “Consumer’s Guide to Credit Reports and Credit Scores” advises what they should do if they find errors. In a three-step process, ordering credit reports and reviewing them for errors or inaccuracies; contacting the credit reporting agencies to enter a formal dispute; and, waiting for a response from the CRA’s and/or creditors is explained.

To learn more about the Consumer’s Guide to Credit Reports and Credit Scores, visit www.federalreserve.gov/creditreports. To review Bill Lewis’ entire consumer protection series at the Highlands Today, visit www.williamlewis.us.

Source:  The Credit Report with Bill Lewis – Highlands Today, an edition of the Tampa Tribune – Media General Group.  http://www2.highlandstoday.com/content/2010/nov/14/guide-credit-reports-credit-scores/

William E. Lewis Jr., is a credit repair expert with Credit Restoration Consultants and host of “The Credit Report with Bill Lewis” on AM 1470 WWNN, a daily forum for business and financial news, politics, economic trends, and cutting edge issues.

U.S. Supreme Court Rules Against Debt Collector

Debt collectors can no longer claim ignorance of the law as an excuse for violating the Fair Debt Collections Practices Act (FDCPA) while attempting to collect a debt.

On Wednesday, the United States Supreme Court handed down a ruling that severely restricts the “bona fide error” defense under the Fair Debt Collection Practices Act for debt collectors that send erroneous collection notices.

In a 7-2 ruling, the high court ruled that collection law firms could not use misinterpretations of the law in a “bona fide error” defense under the FDCPA.

In the matter of Jerman v. Carlisle, McNellie, Rini, Kramer & Ulrich, Karen Jerman sued an Ohio law firm for violating the FDCPA when it attempted to foreclose on her home following payment on the mortgage. In its initial collection notice, the law firm sought written proof that Jerman paid her Countrywide Home Loans mortgage. Absent proof of payment or a written dispute within 30 days, the debt would be presumed valid. Jerman hired an attorney to meet the written requirement, although the FDCPA does not explicitly require consumers to submit disputes in writing.

Specializing in real estate and foreclosure law, Carlisle admitted that its initial validation notice intended dispute claims to be submitted in writing. After Jerman sued, the firm argued that it should not be held liable under the FDCPA because the violation was an unintentional or “bona fide error.” Carlisle defended the matter asserting a “safe harbor protection” stating they were unaware that “written” disputes were not required under the FDCPA.

Although consumers are often instructed by debt collectors to submit written disputes, no such language exists under the Fair Debt Collection Practices Act. In this instance, Carlisle argued that said “bona fide error” was the result of a clerical mistake.

The lower court sided with Jerman, noting that while Carlisle had violated the FDCPA, it was not liable under the Fair Debt Collection Practices Act for damages as the violation was unintentional or a “bona fide error.” An appeals court decision affirmed that ruling, sending the case to the United States Supreme Court.

In an opinion written for the 7-2 majority by Justice Sonya Sotomayor, the high court stated that “ignorance of the law will not excuse any person, either civilly or criminally.” Carlisle had argued that misinterpretations of the law were written into the Fair Debt Collection Practices Act. Sotomayor and the majority disagreed, noting that ignorance of the law was not explicitly written into the FDCPA.

Justice Anthony Kennedy, in a dissent joined by Justice Samuel Alito Jr., said the high court’s decision “aligns the judicial system with those who would use litigation to enrich themselves at the expense of attorneys who strictly follow and adhere to professional and ethical standards.”But Sotomayor spoke directly to that objection in the majority opinion, writing, “We do not foresee that our decision today will place unmanageable burdens on lawyers practicing in the debt collection industry.”

“Debt collectors should be treated like anyone else when violating a federal statute,” said Scott Kleiman, a foreclosure defense attorney with Kalis & Kleiman. “The Supreme Court decision keeps intact an important reason for debt collectors to abide by the law. While strong financial incentives encourage the collection of delinquent debts, continued unlawful behavior will not be excused and punished to the fullest extent of the law.”

The case originated when Carlisle – acting as a debt collector – sent a notice and foreclosure complaint to Jerman, requiring her to submit any dispute “in writing” within 30 days. The “in writing” language was included in the notice based upon legal authority from other jurisdictions. 

Although Countrywide Home Loans subsequently dismissed the foreclosure action, Jerman turned to the Icove Legal Group, a Cleveland-based public interest law firm that filed a class-action suit on behalf of her and other homeowners who received the erroneous notice. “This case will have a far-reaching impact within the debt collection industry as consumer laws in a number of states have ‘bona fide error’ statutes identical to the Fair Debt Collection Practices Act,” stated attorney Ed Icove, in applauding the 7-2 majority decision.

The entire United States Supreme Court opinion can be read at http://www.supremecourt.gov/opinions/09pdf/08-1200…

Source:  The Credit Report with Bill Lewis – Highlands Today, an edition of the Tampa Tribune. http://www2.highlandstoday.com/content/2010/apr/25/us-supreme-court-rules-against-debt-collector/columns-welewisjr/

William E. Lewis Jr., is a credit repair expert with Credit Restoration Consultants and host of “The Credit Report with Bill Lewis” on AM 1470 WWNN, a daily forum for business and financial news, politics, economic trends, and cutting edge issues.

Stop Annoying or Harassing Phone Calls

Are you receiving annoying or harassing phone calls from telemarketers or debt collectors? In these tough economic times, your telephone seems to ring more often. There are actions you can take to reduce the number of calls you receive. First, you must determine whether the caller is a telemarketer attempting to solicit a product or charity, or a debt collector attempting to collect a past due bill.

To stop most telemarketers from calling your home or cell phone, you must sign up through the Do Not Call Registry offered by the Federal Trade Commission. Registration can be made online at www.donotcall.gov or by calling 888-382-1222 from the number in which you seek to block.

The national Do Not Call Registry gives you an opportunity to restrict most telemarketing calls received on your home or cell number. Once you register, telemarketers covered by registry rules have up to 31 days to remove your phone number from their calling lists. Should the telemarketing calls continue, you have a right to file a complaint with the FTC.

The Federal Trade Commission says that “because of limitations in the jurisdiction of the FTC and FCC, calls from or on behalf of political organizations, charities, and telephone surveyors would still be permitted, as would calls from companies with which you have an existing business relationship, or those to whom you’ve provided express agreement in writing to receive their calls. However, if you ask a company with which you have an existing business relationship to place your number on its own do-not-call list, it must honor your request. You should keep a record of the date you make the request.”

Distinguished from the telemarketer, is the debt collector. If you owe a past-due bill, debt collectors have the right to call you – but not harass you. The Federal Trade Commission enforces the Fair Debt Collection Practices Act (FDCPA), a federal law that prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from you.

There are many types of debts covered by the FDCPA. Personal, family, household debts, auto loans, medical bills, and even your mortgage are all protected under the law. The FDCPA, however, does not cover debts incurred to run or operate a business.

Some of the most common questions about debt collectors and consumer rights can be answered by visiting the Federal Trade Commission’s Web site at www.ftc.gov. Although the FTC will not normally intercede on behalf of an individual consumer, they act as a clearing house for complaints and have been known to initiate legal action against the most abusive collectors in the industry.

Should a Florida resident have a complaint about abusive debt collection tactics, they can file a complaint through the Florida Office of Financial Regulation (OFR), the state agency in charge of debt collectors, at www.flofr.com. In this instance, the OFR will open a file and forward the complaint to the offending agency.

If a debt collector violates the FDCPA, you can take legal action.

“You have the right to sue a collector in a state or federal court within one year from the date the law was violated,” the FTC said. “If you win, the judge can require the collector to pay you for any damages you can prove you suffered because of the illegal collection practices, like lost wages and medical bills. The judge can require the debt collector to pay you up to $1,000, even if you can’t prove that you suffered actual damages. You also can be reimbursed for your attorney’s fees and court costs. A group of people also may sue a debt collector as part of a class action lawsuit and recover money for damages up to $500,000, or one percent of the collector’s net worth, whichever amount is lower. Even if a debt collector violates the FDCPA in trying to collect a debt, the debt does not go away if you owe it.”

Whether you receive an annoying or harassing call from a telemarketer soliciting a product or charity, or a debt collector attempting to collect a debt, you can stop your phone from ringing by simply learning your rights.

William E. Lewis Jr., is a credit repair expert with Credit Restoration Consultants and host of “The Credit Report with Bill Lewis” on AM 1470 WWNN, a daily forum for business and financial news, politics, economic trends, and cutting edge issues.

http://www2.highlandstoday.com/content/2010/mar/21/lc-stop-annoying-or-harassing-phone-calls/columns-welewisjr/

Identity Theft Protection is a Waste of Money

Are you one of the 13 million people who purchased “identity theft protection” in 2009?  If so, you wasted your money.  Identity theft protection companies push statistics like “almost 11 million adults were victims of identity theft in 2009” while prodding you to purchase a service that could cost up to $179.00 per year.  What they fail to advise is that identity theft protection does not cover account take-overs, the misuse of debits cards, or the establishment of personal identification (such as a driver license) in your name.

I am happy to report that almost all of the services provided by identity theft protection companies are available at little or no cost.  There is no reason to pay a monthly or yearly fee for something you can do yourself.

REVIEW YOUR CREDIT REPORT

By keeping close tabs on your credit report, you can identify signs of fraud early.  If you find an account not opened by you and have positively identified it as fraudulent, enter a dispute with the credit reporting agencies of Equifax, Experian and Trans Union.  You can obtain a free credit report at www.annualcreditreport.com or (877) 322-8228.  When you pay for identity theft protection, this free credit report is one of the “benefits” they tout.

PLACE A 90-DAY INITIAL FRAUD ALERT ON YOUR CREDIT REPORT

Call the credit reporting agencies and request a 90-day initial fraud alert on your credit report.  Not only will this trigger a free credit report but will advise potential creditors to investigate any application prior to issuing credit, goods, benefits, services, and/or employment.  Contact Equifax at (800) 525-6285, Experian at (888) 397-3742 and Trans Union at (800) 916-8800.  When you pay for identity theft protection, this fraud alert is one of the “benefits” they tout.

FREEZE YOUR CREDIT REPORT

Identity thieves and creditors are frozen in their tracks without access to your credit report as they will not have access to your credit history.  In Florida, you are entitled to temporarily “freeze” access to your credit profile without cost if you are over 65 years of age or are a verified victim of identity theft.  All others must pay $10.00.  Without access to your credit report, a responsible lender will not issue credit.  When you pay for identity theft protection, a credit report freeze is one of the “benefits” they tout.

STOP UNSOLICITED CREDIT CARD OFFERS

Are you tired of junk mail filling your mail box?  Opting out at www.optoutprescreen.com or (888) 5OPT-OUT will stop most unsolicited pre-approved applications and reduce the incidence of identity theft. Opting-Out refers to the process of removing your name from lists supplied by Equifax, Experian, TransUnion, and Innovis to be used for firm (preapproved / prescreened) offers of credit or insurance.  When paying for identity theft protection, opting out is one of the “benefits” they tout.

BUY A CROSS-CUT SHREDDER

“Dumpster diving” is still a very popular method of obtaining credit card applications and supporting documentation.  Purchase a cross-cut shredder that cuts vertically and horizontally, turning sensitive mail into confetti.  If you think a torn up credit card application will be rejected by a credit card company, you have not heard the story of how Chase approved a ripped up application.

While the Credit Card Act of 2009 has mandated a number of changes in relation to “free credit reports,” the area of identity theft protection is an area to watch.  Reduced fees in one area will only mean enhanced fees in another.  There is no reason to pay a monthly or yearly fee for something you can do yourself.

William E. Lewis Jr., is a credit repair expert with Credit Restoration Consultants and host of “The Credit Report with Bill Lewis” on AM 1470 WWNN, a daily forum for business and financial news, politics, economic trends, and cutting edge issues.

http://www2.highlandstoday.com/content/2010/mar/07/lc-identity-theft-protection-is-a-waste-of-money/columns-welewisjr/