Daniel Rosen (Credit Repair Business Secrets) explains "consumer law disputing" — essentially factual disputing using federal consumer-credit statutes (Title 15, Chapter 41, U.S. Code) — and argues it is an effective, established method to remove inaccurate, incomplete, or unverifiable items from credit reports. He lists five central laws in Chapter 41 (FCRA, FACTA, FCBA, ECOA, FDCPA), emphasizes that most effective credit repair codes derive from the FCRA, and highlights two specific statutory provisions cited in dispute letters: 15 U.S.C. 1681i(a)(5) (consumer dispute/investigation/removal) and 15 U.S.C. 1681e(b) (reasonable procedures/accuracy). The video also points viewers to downloadable dispute-letter templates and to Rosen's paid training (Credit Hero Challenge).
Questions this video answers
June 6, 2023
15 U.S.C. 1681i(a)(5)
15 U.S.C. 1681e(b)
Chapters
Hey credit heroes. Everyone's talking about this new thing called consumer law disputing and today I'm going to explain what it is and whether or not to believe the hype. So you better stick around. My name is Daniel Rosen and welcome to Credit Repair Business Secrets. You might have noticed that consumer law is is a hot topic buzzword in the credit repair community, but there seems to be some confusion about what it actually is, where it comes from, and whether or not it really works. Well, I'm happy to confirm that consumer law is the real deal. It's a proven dispute method that can be used to remove just about anything from a credit report. But guess what? You're probably already using it. Consumer law disputing is factual disputing. They're the very same method. They just have a different name. It just puts greater emphasis on understanding the specific legal codes that we already use in our dispute letters. That being said, since everyone is super excited to talk about consumer credit law today, I'm going to reveal some of the most effective credit repair legal codes and I'm going to show you how you can use them to get the best results. Here's how this relates to us. If the facts are on your side and the law is on your side, you have the tools and the leverage that you need to succeed at credit repair. The consumer law dispute process refers to the use of federal laws, specifically sections of the US Code, Title 15, Chapter 41, in order to fight back against unfair, deceptive or abusive practices related to credit. Chapter 41 is a collection of laws that help to ensure that consumers have everything from fair and accurate credit reporting to protections against unfair billing practices, abusive debt collectors, and identity thieves. The five most important laws included in chapter 41 are the Fair Credit Reporting act, also known as the fcra, the Fair and Accurate Credit Transactions Act, F A C T A fact, the Fair Credit Billing act, fcba, the Equal Credit Opportunity act, and the Fair Debt Collection Practices act. Fdcpa. The fcra the Fair Credit Reporting act is the most comprehensive of all of these laws because it regulates the entire credit reporting industry and it gives consumers the right to dispute inaccurate or incomplete information on their credit reports, and it prohibits the credit bureaus from reporting anything that is not accurate, not timely or relevant. FACTA was enacted in 2003 to strengthen the FCRA. It requires that the bureaus take steps to prevent identity theft, and it gives consumers more rights to dispute inaccurate information. It also requires that creditors provide consumers with more information about their accounts, and it prohibits creditors from using certain information to make decisions the most effective legal codes used in credit repair dispute letters are pulled from the fcra section of chapter 41. But every law in chapter 41 is a tool that you can use to fight back, to boost scores, and to change lives. Here's the thing to remember if you're using dispute letters, you're already using the consumer law method even if you don't realize it. Especially if you're using credit repair cloud. See, most letters cite at least one legal code violation as the reason for the dispute. Now if you don't have any dispute letters handy and you want to see some examples, I'm going to drop a link over there in the Show Notes so that you can download our free five dispute letter templates that every credit hero needs. As you look through those dispute letters, you're going to see specific legal codes. These codes are the foundation of the credit repair process and they are the only reason that banks and bureaus listen to people like us. Here's why this is important. If you want to learn every consumer credit law in the book, you can the FCRA and other Chapter 41 legal codes are easily searchable online, and some even offer all of Chapter 41 as a free PDF download. Now, Chapter 41 is over 200 pages, which sounds like a lot until you consider that every single sentence is a right that helps you to defend yourself and others from the worst aspects of the credit system. Even if you exclude the fcra. Chapter four includes the fcba, which you can use to dispute a billing error on your credit card statement, as well as the ecoa, which you can use to challenge a creditor's decision to deny you credit, and the fdcpa, which you can use to stop a bill collector from harassing you. Now these are all general examples. You'll need to dig deeper to find the specific code that relates to your unique disputes. But I did promise to reveal some of the most effective credit repair legal codes. Here's what you need to Section 15 U.S. code 1681 I A5 of the Fair Credit Reporting Act. It states that if a consumer disputes the accuracy of the information in their credit report, the credit reporting agency must investigate the dispute and if the information is found to be inaccurate, they must remove it from the report. So if you remember just one thing from this episode, remember this legal code because it gives you the right to dispute any inaccurate, incomplete or unverifiable items on your credit reports. Section 15 US Code 1681 EB of the FCRA requires that consumer reporting agencies use reasonable procedures to assure the maximum possible accuracy of the information in the reports that they furnish. In simpler terms, the credit bureaus must take steps to ensure that the information they are reporting is accurate. For example, if you show evidence that a late payment was actually paid on time, but the bureaus continue to include it in your credit report, this is a violation because they didn't take steps to verify the accuracy of the information before reporting it. 1681i A5 and 1681eb are two of the most common credit report violations and two of the most important legal codes to include in your dispute letters. But as I said, There are over 200 pages of additional consumer credit laws, so there's plenty more to learn. Here's my final point. Calling factual disputing something other than factual disputing it might sell some books and courses, but just know that this method remains the same. If the facts are on your side and the law is on your side, you have the tools and the leverage you need to succeed at credit repair. Period. And I'll end by saying if you want more tricks to boosting credit scores and check out my episode how to Delete Negative Items Instantly. And if you'd like to get certified in disputing and gain confidence and grow your very own credit repair business, check out our Credit Hero Challenge. Doors are closing soon, so sign up right now@creditherochallenge.com.
