Overview of FCRA Fair Credit Reporting Act

[@neilgoodman2885]

Thank you counselor, very much. Little consumers need all the help we can get. Stay safe, healthy, and wealthy Respectfully,

[@johngwatts]

You are very welcome -- thanks for the kind words! John

[@ballislife9989]

Is there a cutoff amount $$ wise for commercial loans where the FCRA no longer applies?

[@johngwatts]

There are some rules about larger mortgages but to my knowledge commercial loans apply in this sense: If the credit bureau reports it on your CONSUMER report, then it has to be accurate and complete. Normally the COMMERCIAL loans would only be reported on things like your Dunn & Bradstreet report etc. If you give me some more context I may can help you better. Thanks! John Watts

[@ballislife9989]

@@johngwatts As a CRA, say a client obtains my services to conduct background checks on the key principals (both individuals and companies) for a commercial property loan valued at $5+ million. Thank you.

[@quicksilver2446]

Has anyone asks here, where have these 3 Credit Companies came from, and how they control our lives by gathering our private information behind our backs, without our Permission ???? They can, and do ruin peoples life when they have the wrong information. And since they monetize our info, now it becomes illegal without my authorization. All Lawyers love this creation, its a cash cow for them !!

[@marzdeep88]

🤣 He just taught you how to not let credit ruin your life. 🤦🏾‍♂️ Open your 👀 and 👂🏾’s

[@ANDRE-sp2mi]

I appreciate your help with fair credit act.

[@ezoburg7583]

Very good info. Thank you very much sir.

[@johngwatts]

You are welcome! John Watts

[@NaNa-2017]

Thanks so much!

[@johngwatts]

You're welcome!

[@henrystreety1266]

Great video, very educational, thanks....

[@johngwatts]

Thank you Henry for the kind words -- glad you found it useful!

[@AVAL932]

So, are chargeoffs inaccurate since the debt is canceled?

[@FatLabRat]

Hey so if transunion lists a bankruptcy 7 on my file as dismissed but I’ve never had a dismissed bankruptcy can I sue them?

[@miccahleonard8213]

If you have it deleted you have no proof and can’t sue.

[@dustinsteinle4386]

Trying to confirm a statement I heard around student loans. That FCRA has a clause around need based loans and since a credit check wasn’t done to get the loan that it should not reported on your credit report. Therefore you can request the loan to be removed from your credit reports as in the case of most federal loans.

[@johngwatts]

Nothing in the FCRA to my knowledge says if no credit check there is no credit reporting. Actually many accounts have no credit checks that wind up on credit reports.

[@RoderickHunt-q6v]

hey man what else have you heard in the regard of this comment about the FCRA?

[@thegods2622]

Hey what can you do if a debt collector that isn't suing you but calling the usual stuff but are not register in the state I'm in to collect. Can I file a lawsuit against them for violation of state and federal law for trying to collect when they can't or should I get the state attorney General involved. Just wondering if I can use this tactic kill a debt ?

[@johngwatts]

Really depends on your state. Some states don't really care and they rule that licensing is just for revenue. Other states are very serious about it and it can mean you can sue. Have to check your state -- get with a good FDCPA lawyer in your state -- www.consumeradvocates.org/find-an-attorney Best wishes! John

[@Poohdafool108]

Read the book and you will get the right answer. Cause you don’t need a lawyer

[@intuitiv3taur3an91]

Wow I am adoring this information! Packed with so much information.

[@sjinvestors250]

How can I learn this stuff

[@darrellholland8267]

Wow that's is amazing information really good to hear the real law from a lawyer I wish you practice law in little Rock Arkansas thanks for the credit information okay.💯👍🏽😁

[@johngwatts]

Glad it was helpful thanks for your comment!

[@maethomas4575]

I have a question my question is can a account be closed without none of your whereabouts and no notifications or no calls no text no emails and also put into paperless files without your whereabouts and you did not even do that or consent to it for not being able to use their card because of not having a job because of the coronavirus

[@elcanaldecredito]

Thanks for such a great information I figured out this and I found an attorney I just found he is taking 100% of the settlements of my clients, he start taken 50% but now I found out is 100% his answer he is making the account deleted from his credit report, The only reason we looking for attorney is make my clients paid for the damages but is unfair this attorney is taking the whole settlement

[@johngwatts]

That seems odd to me. Ultimately what a client and lawyer agree to is normally ok and maybe the clients agree that the deletion is worth whatever money is being paid. But it seems very odd that the clients would agree or the lawyer would propose taking all the money.....

[@elcanaldecredito]

@@johngwatts my Clint never agree with that , I know I can remove the only reason I have an attorney is to get a settlement for my client, his settlement even show my client need to paid 1099. My clients are Spanish Speakers.

[@maethomas4575]

And my other question is that the card was made off of a shady stand in in the mall shady mall on a using a another using another another company stand at that and not getting any paperwork from the card itself in the mail or off of the jeweler

[@ftfitgirl]

Great content. I need an attorney. My husband and I have found that my old mortgage company has and is currently filed 4 late payments in 2019 which I have Proof we never missed a payment Select portfolio services bought my mortgage in 2018 Reported 2019 4 late We disputed and all the sudden right before I bought my new house they moved them 2020. So i have suffered 2019 for no reason then sold our home 1/15/20 And now 4 more show up in 2020. Account was closed and paid in full. I have all the proof in the world and found so much info about this complaint being sued huge for this and changed their name. What are your thoughts?

[@johngwatts]

I think they are in a lot of trouble! I believe you reached out to me directly so I won't respond here if that is right -- if not I'm happy to do a video on this. Sorry going through this! John

[@burninglight]

☝️first one to comment. Thank you for all the great information.

[@johngwatts]

Thanks for being first! :). You are very welcome -- appreciate you watching!

[@burninglight]

@@johngwatts you’re welcome. This information is so useful. Going to do some research 🧐 on it today by pulling my cra and print them.

[@johngwatts]

Good deal!

[@claytonhill6358]

So we should be able to sue all the CRAs based on this because there is no way any CRA can verify identity based on this standard. Federal and state courts are prohibited from reporting full ssn's and dob's publicly.

[@RoderickHunt-q6v]

Can you elaborate?

[@oklahomafreedom5536]

Is congress doing anything special for the credit laws during the pandemic?

[@Thecreditdoll]

Hi, I will like to work with you