I asked some questions on a few weeks ago about a predatory lender who charged off a student loan on my credit report, but I believe they are predatory lenders. I want to know how to report them, so that I can fix my credit report...
Predatory lenders impose unfair or abusive loan terms on a borrower through deceptive, coercive, exploitative or unscrupulous actions for a loan that a borrower doesn’t need, doesn’t want or can’t afford.
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFPB has the authority to take action against institutions engaging in unfair, deceptive, or abusive practices. CFPB takes complaints about student loans. To submit a complaint for CFPB investigation, consumers can:
•Go online at
www.consumerfinance.gov/complaint
•Call the toll-free phone number at 1-855-411-CFPB (2372) or TTY/TDD phone number at 1-855-729-CFPB (2372)
However, I suggest contacting an attorney to discuss your specific details and guide you on possibilities for rehabilitating your credit score and getting financial relief.
If you have documentation showing that the mark on the credit report is incorrect, you can contact the credit agencies directly through their websites and make a complaint support by documentation. They will review and take the appropriate action if they think you've provided adequate documents to support your claim.
As far as predatory lending: you can file a complaint with the district attorney, DOJ or contact your own attorney and sue them.
Here is a link:
http://www.justice.gov/usao/pae/Documents/preda...
Hope that helps and good luck!
Contact the California department of consumer affairs, those are the people to start with, they may send you to another agency, but this is a process and you may have to spend a fair amount of time calling on variuos people. Get names, id #s, and phone numbers for everyone that you talk to.
I have not looked in while but I believe you are able to put a 100 word statement at the end of your credit report. If that is still the case make the statement and explain your situation and how you dispute the debt.
