Has anyone heard of the "1-2 Punch" Process?

Mar 132011
 

Following is the summary of a procedure that is widely and strongly recommended on another credit forum.  It is touted there as a very effective means to tie debt collectors in a legal knot, and force CA removal or violations in cases where the debt collector has reported to your CR.

It is called the “1-2 Punch.”  Debt validation in combination with a dispute to the CRA.

 

It works like this:

1. The consumer first sends a DV letter to the debt collector.  This letter is sent to invoke the “cease collection of the debt”  provisions of FDCPA 809(b).

2.  Immediately after that, the consumer is advised to send a dispute to the CRA under FCRA 611(a), with some unspecified allegation of inaccurate credit reporting.

 

This so-called 1-2 punch is supposed to tie the debt collector in knots.

It is predicated upon the assumption that, once the consumer sends a DV letter, the debt collector is then prevented from responding to the CRA in the parallel dispute process within the 30-day period set forth in FCRA 611(a) and 623(b).

The supposed dilemma for the debt collector is asserted to be:

If they respond to the CRA dispute, they are in violation of FDCPA 809(b).

If they don’t respond to the CRA dispute within 30-days, they must delete their CA reporting.

That is it.

 

I have questioned this process in their forum, opining that response to a legal FCRA requirement that they investigate and report back to the CRA on the dispute is not a “collection of the debt” activity, but rather a required action on their part under the FCRA.  The response I get from those in their forum is  “it works for us, so if you don’t like the process, just don’t use it!

 

Has anyone heard of, or used, such a process?  I reiterate that those on that forum are adamant about this process, and feel that it is legally supported.

Ok, so I screwed up..

Feb 112011
 

Went online and disputed 2 old accounts that have long been closed, each with a TON of lates from 5-6 years ago, simply claimed they weren’t mine, which I thought was “validating” them.. anyway, now I learn that was wrong and having them show is being disputed is bad as we will soon be doing a refi on our house.. how long will it take the dispute process to work so these are no longer listed as disputed?

Disputes and score

Dec 172010
 

I disputed several items on my Equifax and Transunion reports early this month and I now see that my score has risen about 60 points on EQ and 140 on TU. Does a credit score rise while things are in dispute, but fall down again if they are verified? I haven’t gotten an email from EQ saying the process is complete yet. I did get an email from TU that the dispute process was completed.

imminent Danger? Should I talk to a CA

Dec 032010
 

I have been working VERY hard to rebuild my score towards the purchase of a home in the next 30 days with spme decent success.

 

I had a very old credit card. I always believed the balance was incorrect.   I had been trying to get in touch with them about paying off something to get it removed, with no response, so I disputed it.

 

A week later, I had a notice that the debt had been sold to bulk CA.  I sent a request for validation.

 

Fast forward. 

 

(1) The CA sent me validation that was simply original creditor name, amount due.  I have no idea how to actually get them to detail the balance.  Its not even what the original creditor was reporting.

(2) The credit card company never responded and the item was removed from my credit report, boosting the score

(3) the CA claimed to not report on the credit reports in a previous discussion.

 

Now I can not decide – do I contact the CA, attempt to work something reasonable with them and avoid THEM adding something to my credit report  OR do I wait and see if they add something?

 

Is there a next step that would keep the dispute process with the CA rolling?

 

any help greatly, greatly appreciated.

 

 

Please Help! New Collection while applying for Mortgage!

Jul 132010
 

Well what do you know, just as I am right in the middle of applying for a mortgage a new collection pops up out the blue! It is for $176. the original creditor is municipal court (I believe this is a very old traffic citation that is just now coming back to haunt me). What should I do? Should i send a DV letter? should I PIF the CA? I am not sure that i can do anything with the OC considering that it is a court system. Any advice on getting this deleted is greatly appreciated. Also if I dispute the item will it not be counted in my fico scoring during the dispute process?

 

Thanks!

 

 

Help with tax judgements

Jul 052010
 

In checking my credit report I found three public records. 

 

The first is a state tax lien for $751 filed 04/2006 that I was not aware of from a state that I used to live in 2003.  I disputed the lien with EQ and EXP and the result was “reviewed, meets FCRA standards”.  There is an address for the court and a record number, no phone number.  Any suggestions on the best way to get this taken care of?

 

The second is a civil suit filed in 2005  for $1603 with a circuit court.  Same state I moved from in 2003 and the dispute (with TU) resulted in the same as the previous.

 

The third is a state tax lien for $77 file 06/1994.  I am not sure why this is still showing but the dispute process did not remove it from (TU).

 

Any suggestions on the best method for clearing these up would be greatly appreciated.  Can you use a Pay and Delete letter with public records?   

 

Thanks

What is the difference between the Equifax report on MyFICO and report directly from Equifax?

Mar 142010
 

This is my first post here on MyFICO.  I started my credit repair journey after my BK discharge last year (2009) and have recently come to this site to learn more effective rebuilding methods.

 

Naturally I pulled TU and EQ reports to see where I am in my repair progress.

I noticed that the EQ report from MyFICO shows the items included in BK (IIB) like it is supposed to, but the balance reads ‘NOT REPORTED’ rather than zero. I called EQ and they would not discuss anything without having one of their reports directly. So I obtained their report to facilitate the dispute process and all the balances actually show a zero like they are supposed to show.

 

Is there anyway to correct the report balances on the MyFICO EQ report? 

 

What exactly is the difference between the reports directly from the CRA and the one’s from MyFICO?

 

Major Change to FCRA Dispute PRocess

Mar 072010
 

In what I have always thought to be one of the stupidest and most restrictive provisions of the FCRA, the only dispute process previously availbible to consumers was to file any and all disputes against any creitorl by way of dispute party dispute with the third-party consumer reporiting agency to which they were rubber stamp. Disputes should be directly with the creditor.

 

Consumers could not previously dispute direcltly with the creditor.  They  had to, stupidly, first got trough CRA pre-processing, and the ruthless dossimiation of their brainless and automated E-Oscar process; referral of their much-sanitized reaasn s to a  credior, thrugh a limioted E-Oscar code number, and and referral oof whateer trought anoother code.

Congress recognized the stupidity of this dispute proocess a decade, and yet enacted FCRA 623(a)(8), permitting direct dispiute between the contesting parties to be delayed for more than a decase,  That delsy is now GONE!

 

It was just on hold pending final rules plublished in the Feferal Register.  Those final rules will become effeciive July 1,2010.

 

Consumers, as of 7/1/2010, can now dispute, under the statutory provisions of FCRA 623(a)(8), any reporiting of information to a CRA directly iwith the party who provided the information, without having to use the CRA as an intermediatary.