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The Credit Card Rights Coalition consists of
the following three phases, each with its own distinct purpose. We
use a combination of laws including, but not limited to the Fair
Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act
(FDCPA), the Fair Credit Billing Act (FCBA) and any State Unfair and
Deceptive Acts and Practices (UDAP) laws that support and help
bolster our arguments.
Phase One-
Credit Restoration begins as soon you enter our program and your
paperwork has been processed and continues for 24 months. Our
experience has been that the majority of negatives will be removed
from a typical customer's credit reports within the first 3 to 4
months of this process, but we will continue to challenge unverified
information and monitor all customers’ credit reports for a full 24
months.
Phase Two-
Validation and Reconciliation also begins as soon as your paperwork
is processed. The purpose of this phase is to create an
administrative record and establish as much information as possible
as to the ownership and validity of the alleged debt. The process
works through two levels.
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First, we help you send out a series of
proprietary letters at specific times to either the original
creditor (OC) or the third party debt collector (3PDC) in an
attempt to have the OC or 3PDC provide validation of the alleged
debt. If they are unable to do so, we demand that they zero out
our customer’s account and mark it “paid as agreed.”
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Second, these letters are also used to
expedite the transfer of the account from the OC to the 3PDC at
which time our correspondence is used to enhance our compliance
audits in Phase Three. Phase Two usually takes from 3 to 8
months depending on the status of the accounts when the
individual enters the program and the speed at which the various
OC's and 3PDC's respond to our correspondence.
Phase Three-
Federal Lawsuit begins at the completion of Phase Two. In Phase
Three, our paralegals conduct a compliance audit of each account of
each customer. They then use their completed audits to compose a
solid Federal Complaint, which is then sent on to one of our Credit
Card Rights Coalition attorneys for filing in Federal Court, who
handles this matter from here. Our experience has been that these
cases rarely go to trial and settle over the phone usually within 1
to 2 months after the suit has been filed. At this point, the
3PDC (third party debt collector) will usually cancel the debt to a
zero balance, report to the credit bureaus that your account was
paid as agreed and agree not to issue a 1099 to the Internal Revenue
Service. Once the process is completed, your credit card debt
could be reduced to zero and your credit rating score raised by the
deletion of negative reports.
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