Cold Credit with @StoneColdGrind

The Coldest Alltrepreneur “Stone Cold Grind” talks credit removal and building wealth through debt

Ludovici : Why is your credit important ?

Stone Cold Grind : Credit can build wealth and buy you assets. Credit is usually associated with debt but not all debt is bad debt. People should use their credit to create new streams of income. This is why it’s important to have an equitable credit report

Ludovici : How did you get into credit ?

Stone Cold Grind: Credit got into me. With a 450 credit score from maxed out credit cards, medical bills, and student loans my interest rates got stupid high and I would get denied for new lines of credit, auto loans, and apartments. I also knew without investors or people to support my business ventures I would need good credit to fund what I wanted to do.

Ludovici : How did you clean your credit ?

Stone Cold Grind : I initially paid Lexington Law to fix my credit but after a year of payments with no results I took matters into my own hands. I learned credit removal tactics from Him500 but my situation was so bad those didn’t even work. So I dove into consumer law and learned of how credit reporting agencies which label themselves “bureaus'“ violate consumer rights on a daily basis. They aren’t even bureaus and don’t have as much power as they make it seem. They are just resellers of information with a system used to oppress us just like these other systems.

Ludovici : What are some violations you found in your credit reports or others ?

Stone Cold Grind : The Fair Debt Collection Practice Act, the Fair Credit Report Act, and Truth in Lending Act protect our consumer rights. There are violations on just about every credit report its just up to the owner of the report to find the violation and demand they get removed. Some of the most common are 15 U.S. Code 1681b-Permissible Purposes of a Consumer Report, 15 U.S.Code 1681e - Compliance Procedures, 15 U.S.Code 1681i - Procedure in Case of Disputed Accuracy. In summary, these laws state that the reporting agency may only furnish information under written instructions of the consumer, all information in the report must be 100% accurate, and the reporting agency must investigate and notify the consumer of investigation results 30 days from the dispute or delete the information.

Ludovici : How do you dispute the information ?

Stone Cold Grind : You can dispute the information via phone, mail, or online. For best dispute results, opt out of the secondary reporting agencies like SageStream, Lexus Nexis, ARS, etc. These agencies house your information and share it with the main agencies Experian, Transunion, Equifax. If you opt out of their system its unlikely the main agencies will be able to conduct a sufficient investigation. Write a letter detailing what laws were violated and demand they be investigated and removed. Mail it certified. Letter templates and secondary reporting agency information can be found on the CFPB website.

If you need more tips or assistance getting items removed from your report follow the coldest “Alltrepreneur” on IG @StoneColdGrind !