I just pulled my credit report and found a tradeline for a company called Beacon Financial Group in Miami. According to my credit report, I owe $567. The report lists an address but not phone number. I have looked everywhere online (directory assistance, maimi chamber of commerce, etc.) but I can't find this company. I want to clear up this trade line but I can't find the company? What should I do? Thanks in advance. Ben
It does not matter what address you have for them!! Do the basics: OPT OUT Delete old addresses from each credit report. Dispute with each CRA, in writing via the US Mail, " this account is inaccurate, please correct it or delete it from my report ". Simple letter. The advice from collectman is advice from a collection agency. Do you understand he is here on this board to assist his company in collecting debts? More up front than some, but still here to collect debts?
I'm aware of a Beacon Financial Group in Miami, but it is an investment business....not sure if this is applicable(?). Does the tradeline list what type of account this is? I would also write the company at the address listed on your report requesting verification of this debt. Make sure to state that you dispute the information reported, and have no knowledge of this debt and account. Send the request Certified Mail Return Receipt Requested (CMRRR). When you receive the "green card" back, then dispute with the Credit Reporting Agencies (CRAs) as "Not Mine". If you cannot find this company, then I'm not sure how the tradeline could be verified by the CRAs......
Bella are you that incompetent? He was asking how to find the CA and a phone number or contact information for them. By reversing the address one would be able to find a phone number for that address, which is what I was attempting to do. Biz thats all I could find on my searches was the investment and a mortgage company.
Actually, I am not even sure they are still in business....it's been (quite) a while for me. I didn't know about the mortgage business.
Oh, dear collectman! I am not at all incompetent, believe me! I am smart enough to know what he was actually looking for: to get rid of the negative/derog on his report. Your " tactic " seems to be to contact the CA, for some odd reason I have yet to figure out (wink wink!). His core question was " how do I get rid of this CA reporting on my credit report ", and writing to the CA is not the way to accomplish that. Those of us who are competent know that.... I am not questioning your competence, by the way, I am questioning your motives. Understand?
I want to clear up this trade line but I can't find the company? i.e., I want contact information for them, i.e. a phone number, address, fax number, website. Maybe he's a responsible person who wants to pay his obligations after he finds out the information about the account, i.e. I want to clear up this trade line...
Your " tactic " seems to be to contact the CA, for some odd reason I have yet to figure out (wink wink!). Duh, they are the ones reporting the account. Seems fit one would contact them to find out why...maybe that was me thinking to much into his question.
collectman: This shows how little you know about effective credit repair. Amazing.... The solution is to dispute with the CRA, silly! Please don't give advice like this to people when you don't know what you are doing!
Disputing with the CRA will not give you validation or prove the account or provide him the information he is looking for. Good grief some people......
collectKID: No, you....! It will not get the account validated, but here is what WILL happen: Dispute with the CRA. If the CA is still reporting, still owns the account, and they verify, THEN the OP can get the up to date information! NOT rocket science, kiddo! If the CA still has a financial interest in the account, the CA will rear its ugly head. If it does NOT have a financial interest in the account any longer, guess what will happen? The account will be deleted, most likely, if a true verification is done by the CRA...right? If the CRA does not do a true verification, but instead matches the address and verifies internally, then the OP has new knowledge, right? So then the step would be either delete the old addresses which are used to internally verify the account, and dispute again, using the word " reinvestigate " on the follow up dispute with that same CRA. Simple truth, most of us know this: the OP does not give a flip about finding the CA. Finding the CA is merely a method to get his/her goal accomplished: deletion of the tl from any and all CR's. If there is a quicker way to get that goal accomplished, virtually every one of us would take it. Got that? At least do the people on this board a favor, would you? If you don't know the answer to a question, just avoid answering the question. I have no doubts you know something about your side of the business, but you have repeatedly shown you know little about the credit repair effort. This is but another shining example....
Funny, biz and I had basically the same idea, to contact the CA that is reporting and find out information about the account and request validation, but I'm an idiot. The OP wanted contact information for the CA, why dont you stick to answering questions that the OP directly asks.
The OP asked for a method for contacting the CA....why? So s/he could get the tl deleted......which is precisely what you missed. Your posts are so biased towards the interests of the collection agencies....why would someone chase down a CA's address all over the country, when the CA will show up if they are forced to verify to collect their debt? If they are even in existence any longer? Use your head, guy!
I want to clear up this trade line but I can't find the company? That doesn't say, " I want it deleted." I read it as I want to take care of this tradeline and need contact information for the CA to do so.
Let's approach this from a tactical view: 1) We (the repliers) do not know if this is indeed a "CA" tradeline. We do not know what type of company it is. The OP also did not state what status the owed amount was. 2) We know the OP has a negative tradeline that he does not recognize, and implies that it is "Not His". Let's work on the premise that it is an "error" and "Not His". 3) If the data furnisher has supplied an address, per the FCRA they are under the practice of responding to a direct dispute by the consumer. 4) "If" this is a CA account, then Ben's best process for removing the negative tradeline is to first request validation/verification from the furnisher, stating clearly the dispute of not recognizing the debt, sent Certified Mail Return Receipt Requested, then dispute with the CRA(s) once he has received the "green card" as proof of receipt. The "1-2 Punch", where the dispute with the CRAs should find the tradeline labeld "disputed by consumer" in their investigation. The "1-2 Punch" approach gains leverage for deletion based upon violations of the FDCPA and FCRA. 5) Disputing first with the CRAs will not guarantee Ben will receive updated contact information regarding the data furnisher, most likely they will post the same limited address information now furnished. 6) If this is truly an error in reporting by Beacon, a dispute with the CRAs gives them no new information to highlight the error. They may verify based upon an automatic response (yes, this is not proper, but a likely outcome). 7) Again, if this is a legitimate error in reporting, a written request for validation/verification may be all that is required to clear this up. In fairness to all the CAs, I am sure there are many that do try to conduct business properly, and mistakes do happen. Yes, if Ben is pursuing full repair, he should have updated address and personal info to include only current info (based upon Ben's date of joining forum). But BellaRuss, I think it is a prudent tactic to attempt contact directly (in written form) to the data furnisher, seeking validation/verification. If the furnisher is doing something "underhanded" then the 1-2 Punch tatic will only add leverage to the deletion pursuit. It also adds legitimacy to a dispute of "Not Mine". If the entire pursuit becomes elevated, then you have progressively accumulated violations to help facilitate removal. I know you do not agree with this approach, but I have had 100% success on clearing errors by telephone calls to data furnishers, and all gladly provided written confirmation (in case the CRAs committed errors and continued reporting). Sometimes we get a bit too adversarial in our perspectives, and a simple pleasant business like approach is the most effective.
Follow up DV to the DF with disputing thru the CRA. Although timely DV to a debt collector can get you legal leverage thru FDCPA, to effectively use the FACTA dispute mechanism with other DFs who are not debt collectors, or if the dispute is not or is alleged to not be timely, then you will need the dispute of the erroneous TL directly to the CRA to create an effective cause of action under FCRA. You will need to dispute thru the CRA, even though you believe the DF itself is responsible for reporting erroneously. Dave Szwak commented recently on this point, as did these attorneys: http://www.alabamaconsumerlawblog.com/2007/03/third_critical_step_in_correct.html "Posted On: March 16, 2007 by Third Critical Step in Correcting Errors on Credit Reports After pulling and reviewing your credit reports, now is the time to dispute the errors. First, we need to mention a trap that so many consumers (and lawyers) fall in to that is fatal. It makes "common sense" to dispute only with the company that is reporting the false information (called the "furnisher" in the law). For example, if Capital One is reporting a balance and you know you paid it off, it makes sense to only dispute with Capital One. After all, we might say, what can the reporting agencies do? The problem is that under the law, the Fair Credit Reporting Act, the furnisher generally has no obligation to do anything with your direct dispute. You need to dispute directly with Equifax or Experian or Trans Union and then let them notify the furnisher of your dispute. Once the reporting agencies notify the furnisher of your dispute, then the furnisher has an obligation to investigate your dispute. We read cases every month from federal courts where the consumers have been thrown out of court on a motion to dismiss because they did not dispute directly with the reporting agencies. The other advantage to disputing with the reporting agencies is that this puts an obligation on them to investigate your dispute as well. We will talk in a later post about how the reporting agencies try to avoid this obligation by what is called "parroting".... So, now we are going to dispute with the reporting agencies - how should this be done? You can call, write, do an online dispute, or sometimes fax a dispute. What's the best way? Since this is a blog, you know we like technology. We strive towards a paperless law office (not there yet!) but in disputing errors, we like the old fashioned letter. Send a written letter, and send it certified mail with return receipt requested. Keep a copy of the signed letter. This is so important we will repeat it: Keep a copy of the signed letter. Keep it with a copy of all enclosures stapled to it. The reason we like the letter approach is too often the reporting agencies will deny receiving your phone call or your fax or your online dispute. This can be fatal to your lawsuit (we will talk more about lawsuits in a later post). To be able to pull out the signed green card and show it is quite satisfying when the agencies have denied receiving your dispute.... ..."
