HOW DOES THE PROGRAM WORK - j.b5z.net



CREDIT CARD EQUALIZATION

 

HOW DOES THE PROGRAM WORK?

Q. I am currently making payments on my credit cards, should I continue to make minimum payments?

R. If you can afford to continue making between 40-50% of the minimum payment, it will prevent the creditor from selling your debt to a third party, and making the process simpler.  Unless they return your checks, they will cash them otherwise they will send them back with a letter.  If they send them back to you with a letter, let us know.  Once they are deleted from your credit report, then you can stop paying completely.  If you can avoid giving the creditor a reason to sell your debt, then we advise this.

Q. How is my credit card debt forgiven?

R. A debt that is proven to be invalid must be forgiven and thus removed from the credit report.

Q. Do I need to get copies of my credit reports before sending in my paperwork?

R. No. FCUSA will pull these for you as part of your $50 service fee. We pull credit reports from all 3 credit reporting agencies. Equifax, Experian, and Transunion.

 

Q. How long does the credit card equalization process take?

R. Approximately 90-120 business days -- providing the client performs their part of the contract in terms of following instructions and timelines.  It is also dependent upon the number of cards, and several other factors, which influence the complexity of your case.

Q. What do I do if I am being hounded on the phone?

R. Tell the company that you do not acknowledge the debt, and you want them to communicate with you by mail only. It is a class one misdemeanor in most states to harass an individual by phone. 

Q. How do you invalidate the debt exactly?

R. We request assistance on your behalf through Federal Government agencies to rectify probable improper occurances on your account.

 

Q. Who do we call for questions?

R. Your representative is your first point of contact.

 

Q. Once I'm in the program, how long will it be before I can use my checking and savings account again?  I had to pull money out for threat of having it taken/garnished.

R. Within the first two to three months.  You will start to see your credit report improve and the trade lines removed.  Once the debt is invalid, if they try to take your money, you can sue them.

Q. I currently have an attorney working for me.  What do I do, if I want to join your program?

R. Speak with your representative about that.

Q. Do you dispute the debts?

R. No, we challenge compliance with the FCRA and TILA acts.

Q. Is anyone in compliance with the Federal law?

R. Only the government is in compliance, this is why government taxes cannot be invalidated through our process.

Q. When will Government Agencies notify 3rd party collectors?

R. Usually within 15 business days after they receive our grievance.

Q. Who tells the creditor to pay the damages?

R. If damages are assesed, the Federal Agency will contact you directly. 

Q. What kind of damages have other people received?

R. We have reports of clients who have received between $180 and $8000 in damages.  Damages depend on the severity of the violations determined by the government.

Q. Can I contact the government agencies myself?

R. Absolutely NOT.  Under no circumstance will you, should you, or can you contact these government agencies directly -- even though you will get copies of their communications.  Doing this, you will jeopardize our program and your successful resolution to your own problems.  Your attempt at communication may not coincide with the way we have set up the grievance.

CREDIT CARDS / LOANS

Q. Can I invalidate a signature bank loan?

R.  If it is unsecured debt, you can submit it.

Q. Can I invalidate store cards like Sears, or JC Penney?

R. Yes, if there is a sponsoring "Bank" on the card (most).

Q. Is the debt equalization program for couples as well?

R. The debt equalization is based purely on the number of cards you are processing regardless of whether they are in your or your spouses name.

Q. Does this work on signature loans?

R. Unsecured signature loans, yes.  If you have given any information about property you own, or other collateral, and there is a clause in your contract disclosing the need for chattel in your contract, we cannot assist.  If there is no disclosure, but you provided chattel information -- please let us know -- we might be able to help.

Q. Can I invalidate Credit Union issued credit cards?

R. Yes.

Q. If I have credit cards with a $0 balance, should I invalidate those?

R. It can be beneficial to your credit score to maintain open cards that have $0 balances. (we recommend not using them actively unless you can afford to pay the balances off).

 

Q. If I have a closed $0 balance account, do I put that into the program?

R. No, unless there is a negative credit score you wish removed.

Q. My credit card company just increased my rates and stopped my credit.

R. Submit the cards.

Q. So what do I get at the end of this process?

R. Your debt invalidated, your credit restored and potentially some money back in your pocket in the form of damages from the creditor.

Q. I have received "statements" as validation of debts -- is this legal?

R. No.  But we're not asking for documents whether you owe the debt.  We are challenging how they were not in compliance with the FCRA and TILA and usually there are violations in both categories.  The government does not ask for statements or statement summary.  We're not disputing the account/validity of charges - we're alleging the creditor is not in compliance with the FCRA and TILA.

Q. If I transfer money from one credit card to another, and then go through this program, can they transfer that money back to the original credit card?

R. Legally, no.  

Q. I have transferred some balances from one credit card to another -- does this qualify?

R. Yes, we can help with this also.

Q. I have had several cash advances on a credit card, can these be invalidated?

R. Yes because these are not secured.  They still fall in the realm of credit card purchases.

Q. Does this work on secured home mortgage?

R. No.  

Q. How do I stop phone calls from the creditors?

R. When we get your credit report, they put an alert on your credit report.  No creditor can access your report for collection or other purposes.  If any debt collector calls, we advise you to tell them "Please put it in writing", then end the call.

Q. I am not behind on my credit cards; can I invalidate them?

R. It is best to pay them during the program.

Q. I have charge-offs -- can you invalidate these?

R. Yes.

STUDENT LOANS    SECURED LOANS

Q. Can you help with car loans?

R. Car loans can be dealt with only if the car was repossessed and money is still outstanding -- we cannot help if you still have possession of the car.

Q. Can we equalize a student loan?

R. Yes, non-government student loans can be equalized.

 

Q. What do I need to submit for a student loan?

R. You need to send us a copy of the student loan contract.

CREDIT REPORTS

Q. A creditor is sending a 1099 to me regarding a debt they've written off.

R. While this is income, you also paid interest on these debts.  If you paid interest on a loan it may not be considered income by the IRS.

Q. Do credit reporting agencies check the information sent to them by the creditor?

R. No - this is why we are able to prove noncompliance.  The credit reporting agencies do not validate the information, unless it is challenged.

Q. Is credit repair the same as credit restoration?

R. No.  Credit restoration, however is another process..

Q. Can we buy a new car or buy a new home while we're in this process?

R. You can get credit, but not for the first two/three weeks.  We have to get this information to the national credit reporting agencies and they will put an alert on your credit report.  Because of this block, you will not have anybody giving you credit in the first few weeks.

HOW DO I JOIN?  FIND OUT MORE?

Q. If I want to sign up, who do I contact?

R. Your representative.

Q. Can I do this if I'm in Canada?

R.  Yes, if you have a US Bank credit card.

Q. If I am current on my credit cards that I want to put into this program, how early or late should I send in my paperwork and payment?

R. You should send in your documentation and payment 45 days before the credit cards will be declared delinquent.  This will give us time to communicate directly with the creditor and hopefully avoid third party companies that might try to buy your delinquent debt.

Q. Can I put the cost on a credit card?

R. You may use PayPal for payment, using a credit or debit card.  You also may include a bank check,  money order or credit card as payment on your FCUSA order form.  

Q. Can I make partial payments, say on a monthly basis?

R. No.

Q. If I don't want all my cards invalidated, how do you know which ones I want to keep?

R. You submit from this site ONLY the cards you want invalidated.

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