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Hi, I has a Sole Proprietary company with its own EIN. The company owns two cars with loans taken under his SSN. I want to shift such liability to his business to build business credit. Someone told me that I need to change business structure to LLC to do such shift. Which order of action would be better and how to shift the car loans from my personal credit report to company's credit report Change the company to LLC then do correction in credit report to put the loan under the company or Do correction in credit report to put the loan under the company then change it to LLC. I appreciate your response and help.

Just wondering if you guys had any luck with disputing an item and getting it removed after paying in full. The company absolutely refused to delete and they wouldn't settle, so I went ahead and paid the $242. I started with a 481 CS on November 1, 2015 and I'm now at 616. It isn't great but it's so much better. I am serious about clearing things up and I just got tired of seeing the collection reported every month on Equifax. I actually had success with getting the aforementioned item removed from EXP and TU before PIF - the company didn't respond to the dispute but DID response to Equifax so it remained. So, I'm hoping that, now that it's paid, they will just ignore another Equifax dispute. Anyone had success with this? If it doesn't work, will PIF at least bump up my Equifax score a little bit?

Note - This bill was introduced in the US Senate. Not sure if there is a companion bill in the House of Representatives as yet. It is a commendable effort, but at the rate both are approaching the infinity of dysfunction, no action to pass the bill is contemplated before the END of the century. If we are reading the bill correctly, it provides injunctive relief to plaintiffs as well as ATTORNEYS FEES!!! If someone could give me a quick sanity check [text of the bill is below], that would be much appreciated. Amendment to Fair Credit Reporting Act to Impact Debt Collection Bill focuses on preventing errors in consumers' credit reports and calls for the CFPB to develop accuracy procedures for credit reporting agencies to follow. New legislation from Sens. Sherrod Brown (D-Ohio), and Brian Schatz, (D-Hawaii), seeks to amend the Fair Credit Reporting Act (FCRA) to protect consumers from inaccurate credit reports and credit scores. The “Stop Errors in Credit Use and Reporting Act” would make it easier for consumers to correct, dispute, and access their credit reports and builds on a proposal from Sen. Bernie Sanders (I-Vt.), to provide consumers with free credit scores, according to a statement from Brown and Schatz. Under the FCRA, credit reporting agencies are required to, “follow reasonable procedures to assure maximum possible accuracy” of information contained in credit reports, but reports still contain far too many preventable errors, according to a summary of the legislation. “In today’s economy, it is critical that consumers have access to a safe and reliable way of checking their credit reports and scores,” Brown said. “This legislation ensures consumers have the resources they need to correct credit report errors that could potentially impact future employment opportunities, credit applications, and other transactions that require a good credit score. Consumers would also have access to a free annual credit score and report.” Of relevance to debt collection agencies, the bill amends responsibilities of consumer data furnishers to provide “free disclosure after notice of adverse action or offer of credit on materially less favorable terms.” (1) In general.--Not later than 14 days after the date on which a consumer reporting agency receives a notification under subsection (a)(2) or (h)(6) of section 615, or from a debt collection agency affiliated with the consumer reporting agency, the consumer reporting agency shall make, without charge to the consumer, all disclosures required in accordance with the rules prescribed by the Bureau under section 609(h). Other specific components the legislation would: Require the Consumer Financial Protection Bureau (CFPB) to develop procedures for credit reporting agencies to follow as a means to improve accuracy.Ensure that agencies send consumers’ disputes and supporting documents to the creditor when there is an error on a report, so that they can thoroughly review the consumer’s claim.Make it easier for consumers to spot errors in their credit reports by requiring that consumers receive a free copy of their credit report if anyone makes an unfavorable decision based on the report.Give consumers the ability to request a free credit score along with their annual free credit report to see what credit they might be eligible for.Give courts the ability to stop a credit reporting agency from reporting inaccurate information and provide the Federal Trade Commission with new authority to stop sloppy practices. The legislation is cosponsored by Sanders, Sen. Elizabeth Warren, (D-Mass.), and Sen. Richard Blumenthal (D-Conn.). It is under review by the Committee on Banking, Housing and Urban Affairs Senate: S.2224 - SECURE Act INJUNCTIVE RELIEF AND ATTORNEYS FEES!!! Injunctive Relief.--In addition to any other remedy set forth in this section, a court may award injunctive relief to require compliance with the requirements imposed under this title with respect to any consumer. In the event of any successful action for injunctive relief under this subsection, the court may award to the prevailing party costs and reasonable attorney fees (as determined by the court) incurred during the action by such party.

Hi, I recently applied for credit and was surprised I was turned down when the bank pulled the bureau I thought I had a very strong credit rating with. The reason was too many inquiries. I reviewed my report, and sure enough, there were about 16 inquiries. However, most of them come from current creditors, or banks / credit unions where I have business and personal checking and savings accounts. I was surprised to see most of these as hard inquiries, negatively affecting my credit. When I opened the checking and savings, I was advised they would all be "soft pulls" by each credit union. The others are from current creditors, ie. credit cards. I'm not past due on anything, nor in any kind of collection status and not in any litigation. I would assume credit card banks would do normal periodic credit reviews via soft pulls, but these are all appearing as "hard pulls." The cumulative effect over the past two years was to negatively affect my credit. I believe out of the 16 hard inquiries at least half should be soft pulls. I disputed in writing with the one credit bureau where they all appear and my disputes have been denied twice now. Has anyone come up with any new strategies on disputing inquiries, or how to deal with this scenario? I'm concerned that just going back to the banks will be a lost cause, and quite difficult to find any individual in the "credit inquiry department." Thank you.

Hi, I am planning to file Arbitration under the terms of one of the credit bureaus credit monitoring contracts. It has an Arbitration clause with AAA as the forum. I have multiple trade lines to dispute that this one particular CRA has refused to properly investigate, despite my many letters sent CMRRR. My question is primarily one of strategy. I can combine all of the disputes into one large complaint, which will make the process more manageable. However, I am considering filing separate arbitration demands as they each have slightly different issues and FCRA violations, and the arbitration fees required by the CRA will likely bring them to the table to resolve the dispute. It would be great if anyone has had a similar issue, or can offer some general thoughts on the strategy of a combined claim vs. individual claims. Thanks!

Hello! I am new to the forum! I decided to tackle my husband's credit repair on my own, he has 3 accounts in collections and I want to make sure I am doing things the right way. I pulled his credit report from the Experian website on 3/6/13. The report contains information for all three CB's (Credit Bureaus). I am going to start sending dispute letters through certified mail. Here are a couple of questions: If I pulled report from Experian.com, do CB's still have 45 days to respond to my dispute letter?If yes to answer above - when will they have to reply in 30 days or less? (When does it reset?)Should I send proof of address along with dispute letters?Upon reviewing the website, www.creditinfocenter.com, I get the feeling the first step in credit repair is to dispute debt with CB's. When do you move on to disputing debt with collection agency? I.e. CB has "validated" debt twice..., etc...Thank you very much for your help, I look forward to being part of this forum and I hope that one day I will be able to share my learning experiences through this ordeal with all of you. The only reason why I decided to tackle this on my own is because I stumbled upon this website/forum. Thanks!

Hi, I recently received a 1099-C from a bank. The 1099-C form states a code for the "triggering event" that caused them to issue the form. In this case it is Code G - which is defined as: "Decision or policy to discontinue collection." The form also states "Cancellation of Debt." However, the same creditor also updated the alleged debt on my credit report after issuing the 1099-C. My question is, updating an alleged debt on a credit report has been deemed collection activity by the courts - which is contrary to Code G - Decision or policy to discontinue collection. While I know there are cases of collection attempts after a 1099-C has been issued, for credit reporting purposes, cant they still continue to report while telling the IRS they have made a "Decision or policy to discontinue collection" ?