AboutRegan Shinski Expertise I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit reporting.
Experience Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports.
Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry.
I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA).
I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage.
In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.
Education/Credentials BA - University of Minnesota
Question I surrendered my vehicle during my bankruptcy proceedings, and the bank after 1 year is still reporting it on my credit report as pass due balance owe on the monthly payments.
Answer Dear Jack:
The first step is to send a dispute letter to each of the three major credit bureaus - Experian, Equifax, and Transunion. Just a simple letter stating the account is not reporting correctly. The credit bureau will contact the creditor and respond back to you in writing in about 30-35 days.
If they verify it - i.e. make no changes - you have a choice at that time. You can send another round of dispute letters and include a copy of your discharge papers showing the vehicle in the bankruptcy. This should correct the account. Personally, as an owner of a credit repair company, this is not my recommendation but it is the path of least resistance and should get it to report properly.
The risk - and why I don't like it - is because you are then admitting the bankruptcy and that this vehicle was taken in the bankruptcy. Again, as a credit repair guy, I fight to get the account DELETED entirely. Once you send the documents that show the bankruptcy, it's obviously harder to delete the bankruptcy accounts.
Anyway, send the first round with a generic statement that it is incorrect and see what they do. Save all documents. Contact me again with their response if it does not update to the way you want it. We can discuss options at that time.
