When you find yourself in the financial red, the only reasonable thing to do is relax and think things through. That’s what I told myself after I finished tallying up the list of debts that appeared on my Experian credit report. Consumers are entitled to one free credit report from all credit bureaus every calendar year. In accordance, a request was sent to all the major credit reporting companies including Experian, TransUnion, Equifax and Chex-Systems. To my annoyance, Experian and Chex-System were the only companies that responded by sending me a copy of my credit report. TransUnion and Equifax both sent me a request for additional information which led me to ask a couple of questions - Do you think they are doing this so I would get impatient and acquire my report on the internet and pay them for it? Why is it that Experian and Chex-Systems sent me a credit and the two others did not when I sent them the same set of information to prove my identity? There’s one way to find out. If I could purchase my credit report online without showing them any additional information, then we know they have a racket going on that is meant to circumvent their responsibility to provide one free credit report per year.
The six-digit amount - $112,188.00 – was the sum of all the debts that appeared on the Experian report and some that didn’t but I was aware of. Fortunately, most of the figures are inaccurate/erroneous and will be disputed, contested and if required brought to court. There are bodies of laws that protect consumers from excessive and usurious creditor practices. These are things that I will have to learn, understand and use to deal with these creditors and collectors.
This creditor list will be updated as the information changes. I will also post the actions, tactics and strategies that I employed to deal with these creditors. The short-term goal is to get the liability zeroed out, so I can begin acquiring things in my name once again. At this point, anything that I acquire could literally be taken away from me. Ultimately I want to do this without filing bankruptcy so I can use my credit to amass wealth. Credit is an important tool for wealth generation. My many years of mortgage banking experience showed me how credit can be a two-sided blade. The upside, however, outweighs the negative if you know how to manage leverage smartly. In this day and age, there are simply some things that could not be acquired by cash. When was the last time you bought a house with cash?
So we start approximately $112,188 in the red. In the words of Cheech Marin, "das eesy man!"
VIEW ROBERT'S DEBT SPREADSHEET
The six-digit amount - $112,188.00 – was the sum of all the debts that appeared on the Experian report and some that didn’t but I was aware of. Fortunately, most of the figures are inaccurate/erroneous and will be disputed, contested and if required brought to court. There are bodies of laws that protect consumers from excessive and usurious creditor practices. These are things that I will have to learn, understand and use to deal with these creditors and collectors.
This creditor list will be updated as the information changes. I will also post the actions, tactics and strategies that I employed to deal with these creditors. The short-term goal is to get the liability zeroed out, so I can begin acquiring things in my name once again. At this point, anything that I acquire could literally be taken away from me. Ultimately I want to do this without filing bankruptcy so I can use my credit to amass wealth. Credit is an important tool for wealth generation. My many years of mortgage banking experience showed me how credit can be a two-sided blade. The upside, however, outweighs the negative if you know how to manage leverage smartly. In this day and age, there are simply some things that could not be acquired by cash. When was the last time you bought a house with cash?
So we start approximately $112,188 in the red. In the words of Cheech Marin, "das eesy man!"
VIEW ROBERT'S DEBT SPREADSHEET
