ERICH Credit Consultants, LLC

The FTC is encouraging consumers to Opt for Free Credit Monitoring instead of the $125 alternative cash payout as part of the .

A new FTC blog post notes, “the public’s response to the settlement has been overwhelming. Because the amount of money set aside for the cash payment option is capped at $31 million, consumers who select that option may not receive the $125 they had expected.”

For those who have not submitted a claim, the FTC is recommending that affected consumers consider choosing the free credit monitoring service, which is worth hundreds of dollars and comes with identity theft insurance and restoration services. For consumers who have already chosen the cash option, the settlement administrator will e-mail those consumers and provide them with the opportunity to either (1) submit additional information, or (2) switch to the free credit monitoring service. Consumers can also contact the settlement administrator directly.”

What are your thoughts on this? Opt-in for credit monitoring or cash out?

Beginning in January 2020, Equifax will provide all U.S. consumers with six free credit reports a year. This is in addition to the one free annual report that Equifax and the the two other nationwide credit reporting agency provides.

This is a apart of a larger settlement with the CFPB, FTC and 50-U.S. states, which alleged that the credit reporting companies failure to take reasonable steps to secure its network led to a data breach in 2017 that affected approximately 127 million people.


Watch the press conference here: https://kvgo.com/ftc/press-conf-07222019

Rp 😂

👉🏽The Fair Credit Reporting Act outlines consumer’s rights to dispute inaccurate information on their credit reports. But it’s essential to know that this law does NOT apply to business credit repair. There are currently no laws which outline business owners’ rights regarding credit disputing. The FCRA also requires credit issuers to notify you of what bureaus they pulled your credit data from to determine your denial for financing. In the business credit world this is not the case, you rarely ever know the source that pulled your business credit or which reporting agencies they pulled it with.

However,If you see accounts or details you don’t recognize or you feel are inaccurate, request a debt validation for that account using a debt validation letter. Solicit the creditor for verification of the account details they are reporting. 💪🏽The FCRA and the fair debt collections practices act apply to consumer debts, not business debts. So you can send a debt validation letter, but the creditor is not required by law to respond to your dispute.

👉🏽The Fair Credit Reporting Act outlines consumer’s rights to dispute inaccurate information on their credit reports. But it’s essential to know that this law does NOT apply to business credit repair. There are currently no laws which outline business owners’ rights regarding credit disputing. The FCRA also requires credit issuers to notify you of what bureaus they pulled your credit data from to determine your denial for financing. In the business credit world this is not the case, you rarely ever know the source that pulled your business credit or which reporting agencies they pulled it with.

However,If you see accounts or details you don’t recognize or you feel are inaccurate, request a debt validation for that account using a debt validation letter. Solicit the creditor for verification of the account details they are reporting.

💪🏽The FCRA and the fair debt collections practices act apply to consumer debts, not business debts. So you can send a debt validation letter, but the creditor is not required by law to respond to your dispute.

🙌🏽 New Credit New Money. Happy New Years ❤️

We’re in the last few months of the year. Let be one of your for the new year. 🙌🏽💪🏽

First round credit error deletions.

Make sure you get your pre-approval first!

According to the National Federation of Independent Business, over 80% of businesses rely on some sort of financing for survival.