Goodwill Requests…Do They Work?

I get asked alot about goodwill requests.  This is when a consumer may call a creditor and ask for a courtesy removal of a late reporting.  For some reason, this tactic is commonly known to exist and thought to be very effective.  I can tell you from professional experience, it is rarely effective.

Goodwill requests are more effective for mildly late accounts such as 30 days late, with a long account history that were isolated incidents. A creditor cannot, by law, report information that is inaccurate, therefore the goodwill request must not admit the late, and it must make the fault of the late payment unclear.

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Lou Centrella, Fairway Independent Mortgage

“I want to let you know that your presentation last week was fantastic. You had the full attention of the entire group. Your information was presented with enthusiasm and entertainment. I think the audience really benefited from your excellent presentation. The knowledge they gained from you will make them better realtors for the future.”

Lou C.

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Consumer Rights Under the FDCPA…

Here is a brief review of our rights under the FDCPA:

• It details a person’s right to request more information about the alleged debt. The procedure is called debt validation and it’s a powerful intervention that we will be explaining in greater detail. Until then, understand that debt validation allows every consumer the right to dispute the validity of the debt. The collection agency must respond with proof that the debt belongs to the person, otherwise they must stop collection efforts and REMOVE the account from all credit reporting agencies. Debt validation is an effective tool for removing collection accounts.

• Provides behavioral standards for acceptable third-party collections. The following are examples of violations:

• • The collection agency threatens to tell your client’s employer or neighbors about the debt, or actually does tell them about the debt.

• • The collection agency speaks about the debt to a party that is not responsible for the debt

• • Pre-Texting- The collection agency acts as another company in an effort to gain additional information. Here is an example: the collection agent claims to be from a raffle/prize company and notifies the debtor that they “Won” in order to extract information about their finances, employment or other items.

• • The collection agency calls at unreasonable hours. 9:00 p.m. – 8:00 a.m. is considered unreasonable under the federal law.

• • The collection agency threatens to take action against the person that it cannot legally take (for example, threatening to take money out of their Social Security check or threatening arrest or jail).

• • The debt collector communicates with the person in a manner to harass, intimidate, threaten, or embarrass the debtor.

• • The debt collector communicates with the person or spouse more than three times in a single week.

• • The debt collector communicates with the person through the use of notices that look like government documents, or emergency messages.

• • The debt collector is prohibited from soliciting a postdated check in order to threaten criminal prosecution. A postdated check may not be deposited by a collector before the date on the check. Additionally, a collector’s acceptance of a postdated check violates the law unless it gave the consumer who wrote the check 3 to 10 business days notice prior to depositing the check.

• Requires debt collectors to immediately identify themselves when communicating with the person whether it is on the telephone “Hi this is Joe from ABC collections” or in written form “This corresponded is an attempt to collect a debt.” This helps to prevent sneak attack behavior.

• Allows a person to request that the collection agencies stop contact with them. This is formally called “cease and desist.” However, this is not recommended because the collector will have no other choice but to take the person to court. So be careful before you send any letter with the words “cease and decease” on it, as you might get your client sued.

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Hector Torres

Qwest helped me to clean up your reports.  Thanks to Curtis And Qwest I will apply for a home.

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Kenan Keys

I worked with Qwest from Oct/Nov and I’m ready to apply for a home. Really good people to work with. I would recommend anyone to go if you need help with your credit.

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Mariah Katona

Qwest made it possible for one of our biggest dreams,to own a home, come true in a short amount of time! So thankful Priscilla Rosar recommended us!

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Does my FICO Score change every month?

According to FICO, 83% of the population experiences changes to their FICO^®Credit Score by up to 20 points month to month…

Beyond that, our FICO score changing only every month is completely a myth.  Reality is that our FICO Score can change several times per month and can even change from AM to PM.  The FICO Score is going to change whenever the date on the credit report changes, and depending when that information is added, deleted or updated, the Score can change accordingly.

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