Season 6 Episode 3 - Credit Repair Illegal In Georgia

Credit Repair Illegal In Georgia

Georgia is the only state where it is illegal to help a consumer to improve their credit score. The residents are at a disadvantage and the results show that Georgia ranks 48 out of 50 states with bad information on their consumer report. Source - Experian (2019).

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Transcript

3 Credit Repair Illegal In Georgia

Email: Chrish289@proton.me
            (c)Copyright, 2021-2030
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Introduction:


Welcome uh today we bring you a story i i try to bring incredible stories here on this channel regarding child support but here is a story that uh is news to many of you and that is credit repair is illegal in the state of georgia yes i know it sounds very unbelievable but credit repair is illegal in georgia now for many of you who tuned to my channels i bring stories you know i do the research and so when i saw this story about georgia i said wait a minute this cannot be but it actually is true the office of the attorney general uh carr prosecuted in july 19 2019 a company for providing services which is to repair both personal and business uh credit and they refined a million dollars yes again it sounds unbelievable but it was and the company that settled that was the financial education services

now for many of you have been to my channel you understand that this law in georgia violates the supremacy clause yes the supremacy clause which establishes that the federal government and their rules and laws you know basically overrule state law and credit report is legal in all 50 states or in this case in all states except for georgia now why is it allowed well we'll talk more about it in in this uh in this episode but please stay here watch this to the end i have some some solutions and i'll point out some issues with it but you will learn something as well as watch this video if you know someone who lives in georgia there they will need the solution so stay tuned at the end

now we have in here on the channel we talked mostly about child support but we started a new process where when we help you get rid of child support or if you've used our information to re to remove yourself from the child support program we want you to set your site on the road towards financial freedom and it starts off with having excellent credit

so let's look at the georgia code the law itself it's title 16 crimes and offenses and it's under the classification of forgery and fraudulent practice and that is georgia 16-9-59

operations of credit repair services is illegal in georgia

so here's how they define the operation of credit repair that is they take the definition from the consumer uh fair credit reporting act which is 15 usc 1681 that's a definition for credit reporting services so a person commits the offense of operating a credit repair service organization when he or she owns operates or is affiliated with a credit repair services and that person who commits the offense of operating a credit repair services organization shall be guilty of a misdemeanor yes it is a crime to be involved in the business of repairing credit in the state of georgia again the story is incredible when i first read it but i've done the research and i'm here to share that with you so this is important where i talk about a lot know your rights know your rights under child support but also know your rights under the fair credit

 reporting because i've said it is legal in all 49 states to do credit repair or to pay your credit except in the state of georgia now to understand more about the rules and requirement and about fair credit reporting you can get a free copy from either the consumer finance website or you can get it from our website in our learning management system which we'll talk about at the end of the video so we're now stressing on this channel that you should check your credit report at least once a year that is the recommended guideline and last year they were recommending that you check your credit report for errors uh every six months now a credit report as you know the fico score and now there there's another version of this with rates but

 for the most part fico score is the most popular it starts off with a 300 which is called very poor credit to excellent which is anything over 700 to as high as 8.50 and what does that mean it means that you get to either borrow at the best rate or at the lowest rate or you borrow what is called the subprime lending market so what are the possible risks to your

 credit report or the reporting well one if you're below 600 there's several reasons why it we think one of them is for child support payments which are mostly men there's also collections on your account which is a debt that you hadn't paid from a retailer or credit card that could show up on your report medical bills that also or late payment fees or or or services you do not provide you did not pay for as well as federal and state tax liens there could be municipal

 tax liens there could be court fees and fines uh student loans that's another category for many of us who had to pay for college and had to borrow and still have a student loan carrying their monthly payment because as you know student loans cannot be charged off in a debt also late payments on your current credit cards your current debt again these are the factors that will drive your score within the low 600 which pushes you into that subprime borrowing market

okay so now what are your rights under the fair credit reporting act as we said this is a federal federal statute it's federal requirement except in georgia well the first thing you should do is you should ask for your credit score yes we all have a credit score some of us may have nothing in our credit report but we have a score so this is a good time for you to get that score and the score is broken down in terms of history of your payments the amount you owe the length of your credit and so on next you want to know what is in your file what do they currently have on you that is their consumer reporting agencies what information do you

 have you have a right to know what's in your file next if there are any errors or inaccuracy you have a federal right to dispute those that information so those are your rights under the fair credit reporting act hello my name is chris and in this session we're reviewing the unbelievable statute or law in georgia that says if you're assisted by anyone to do your to fix your credit report it is a crime and in this episode we're going to talk about it more give you the full faction of our research but also provide you with some remedy so please stay tuned do not leave watch this important video it's not often that you can find a state statute that violates the federal supremacy clause and if you're new to this channel please feel the subscribe as we give you more information

we ask from time to time a donation to keep our research going as well as to keep our channel going and yes these videos are free we provide them on on this channel but also we're asking for a gift we'll accept a five dollar cash app or a gift of any kind again to help us keep our research and share it with you you can find us on your favorite podcast whether it's apple amazon or google or your other local market check your market for listings for child support made simple

podcast we have covered repairing your credit we did a video several videos on the topic please feel free to review them we talk about removing child support from your credit report yes that is correct you can do that as well as other strategies but in this episode we're just going to focus on georgia

so the georgia credit repair trade association on january 12 2021 wrote that the georgia experiment has failed that is more than a decade ago the state of georgia passed the law to make credit repair services illegal in its state unless it's performed by a lawyer or a non-profit it was a great idea they thought but it backfired what it led to was is that the many of the citizens of georgia has discrepancies under credit report but unfortunately they have to do it themselves and if you're someone for any reason that you're impaired or you just need assistance your legislators literally make this function a criminal act yes a criminal act so that's why uh the writer of this article matt lister wrote that this experiment miserably failed the question becomes will or will anyone has the the wherewithal to change this law so to allow the people in georgia to fix their credit now what if now let's move away from credit repair what if you're just a credit counseling organization so it's either credit repair or credit

 counseling well overall the purpose of credit counseling is to teach and manage how to budget your expenses your income as well as your cash flow for your household what is also debt payments how to manage your debt pay off your credit cards how to rank your debt how to look at the interest rates and the strategies for using money efficiently and you find those guidelines and rules on what's called the fair credit reporting act as well as the fair debt collection practices act yes these are two federal statutes sometimes people say them together but they're actually separate one's the reporting and then the one one the other one's debt collection well this is fine if it's credited counseling does it violates the law we'll look further into this but what if you're a business in other words you're a small business and you simply want someone to help you not with running the business but just manage your credit counseling how do you get around that

so looking further into the georgia law it says that the operation of a consumer debt counseling service by non-profit organization exempt from taxation under 501c3 of the internal revenue code or a person's license to practice law in the state within the scope as an attorney what they basically mean is there are only two types of support you can get it's either a non-profit or an attorney now for many of us who are individual we may not have the money to spend for an attorney an attorney obviously is not expensive but this is a non-legal function we're talking about mathematics we're talking about money we're talking the

 movement of money and yet they have delegated this exclusively to attorneys well what about debt counseling services well to run a non-profit obviously you need money to run to open up the non-profit to run that but notice they focus primarily on those that are 501c3 so you could be a non-profit but if you're not a 501c3 you cannot perform counseling services or credit services

so this is what's unfair about the law and we went through and we did more research when it comes to a certified public accountant they cannot assist you with your credit repair yes i know it sounds ludicrous an accountant deals with numbers all day long dealing with banks other financial services to deal with business and individual and yet they have to hand over the very function that they perform on a daily basis to an attorney for their clients it's it's almost the same thing as saying well the attorney can hand over to the cpa to go to court to argue a case obviously that's ridiculous but why isn't the opposite and again this is the fundamental problem with this statute in georgia

we also did further research we looked into the irs and see what answers they provide and they also said the same thing no to tax professionals in the state of Georgia cannot do credit repair again ridiculous as it sound you think that the v if you're if you owe a tax lead or you're in issues with taxes and it's on your credit report who else would you turn to than the actual people who understand that which are tax professionals but instead of Georgia you hand that over to an attorney

now there are many other services that help you with your credit the question is can they really help and we'll do more research for you but for the state of Georgia as it stands today there's a thin line between providing services and being prosecuted for providing those very services and the professionals who do this for a living their hands are also tied so in order to solve or at least provide more information to the people of Georgia and for everyone we prov we have uh on our learning management called childsupport.newsandler.com which is you can remove child support from your credit report and you can watch the video on that but there are also techniques in here that you could use for yourself in the state of Georgia as you know you have to do this yourself i'm sorry that for some of you would need help you may have to

 learn the techniques of how to remove discrepancies information on your credit report and we again we offer this uh in our learning management but there are techniques and tools you can use to remove you know bad information or inaccurate information or payment history or correct payment history so while we are not targeting georgia per se you can use the information further we'll also put what is called the rules for the fair credit as we said earlier on our website you can free to download it see what your rights are in within the state of georgia now we have an overall master class that deals with child support of how to escape child support it's just that now in Georgia you have another hurdle in addition to cleaning up your credit report on top of everything else this brings us to the end of this presentation as we said when we research this topic Georgia was the only state that you could not get assistance

 with repairing a credit report as always we said please subscribe to this channel and also hit the notification bell so that you are updated when we produce new material we also ask for ongoing donations to help us with our research as we did here in this particular topic we point to you specifically with the law such that none of you either you know come in contact with it where there's a negative repercussion as well as we ask for a gift small gift we'll take you know any amount

so that's it in the state of Georgia it is illegal to be assisted with the credit report however we put information on our our child support. News and the website where you could use to help fix your credit report and thanks have a good day