Don't BE FOOLED -charge offs on your credit report are UNLAWFUL!

(edited from live) Today we're talking about whether or not it's unlawful to report charge offs on a credit report. Need help fixing your credit? Head to https://my740.com and I'll see if I can help. Free credit repair course: https://hub.my740.com Credit repair mentorship program: https://sendmeto.co/mentor-charter Join this channel to get access to perks: https://www.youtube.com/channel/UCG_gSTE_8amNdUBlxJRmVHQ/join Check out the store: https://www.youtube.com/c/AskKristin/store 🔮SUBSCRIBE TO MY CHANNEL 🔮 https://www.youtube.com/c/Ask-Kristin?sub_confirmation=1 ✨ Check out all 3 credit reports and scores with the same credit monitoring I show in my videos and use for my clients with SmartCredit https://smartcredit.com/VargasConsulting/ or IdentityIQ: ✨ https://member.identityiq.com/help-you-to-save-money.aspx?offercode=431134PT 🧙‍♀️ GET HELP WITH YOUR CREDIT JOURNEY DIY awesome free tools, tutorials and downloads - https://vault.my740.com 🦸‍♀️ DFY credit sweep service free consultation 🦸‍♀️ https://my740.com Let's jump on a call and see if I can help! ⭐️ Video Notes: Is it lawful to report a charge of on a credit report? Just think about that for a second? Is it legal? Yes, charge offs can report on your credit report. But is it lawful? So let's look at this real quick. Because you may be able to use this when you are disputing your charge offs with the credit bureaus. I don't know how far you're gonna be able to go by using this with the actual data furnishers. But you never know. Okay, so if you have charge offs, please pay attention. Alright. So is it lawful to report a charge off? My answer to this is kind of in the middle? Yes. And no, but let's just look at the facts here. So what is a charge off? You had some sort of credit or a loan or whatever, and you did not pay for whatever that credit is. And now you have a charge off, right? Okay. We're on the same page there. But doesn't that mean that it's technically income? Well, according to the IRS, an unpaid charge off is income, right? And according to the FCRA income, cannot report on your credit report, go Google it go look it up. It's right on Experience page if you can't find it in the FCRA. And make sure that you smash that like if you did not know this. Alright, so is it unlawful to report a charge off? Yes, it is. But it's illegal? Yes, it is. So what do you do about that? I don't know. Is it possible to use this in your disputes? Like I said, you may be able to, but we're just dealing with the facts, right? Just look at that. Again, this literally blew my mind today. The IRS says that something that you do not pay back and goes to charge off status is now income, right? Because you took it and you didn't pay it back? Okay. No judgment, just facts. Okay. So now, that is income, the FCRA says, it cannot report on your credit report. Because remember, there's certain things that do not report like is like transactional data and checking accounts and stuff like that, right? I mean, everybody knows that when you go and get a vehicle, it says that your loan, your original amount was XYZ $20,000. Right. But other than that, there's no other transactional data in employments not even reported on there anymore. Why? Because it's kind of hearsay. So what you are going to see on your credit report is you know, your name and your address and, you know, your accounts, whether positive or negative, going back seven years, you know, so on and so forth. But you're not going to see income, but according to the IRS, the biggest collection agency, that charge off is considered to be income, then why is it lawful to report a charge off on your credit report? That is my question. I mean, I don't know about you, but that doesn't make any sense to me. So if you were gonna write a dispute, even though I don't have any laws to give you or whatever right now, I just ran across this earlier and I was like, You know what, I gotta go either do a video or go live about this and see what see what you guys have to say about this right? Delete this chart of XYZ with American Express account number 349 and nine, because it's unlawfully reported because it's considered to be income by the IRS. I mean, you could literally put it as simple as that and if somebody does try to do that, and you know if it works, let me know if it doesn't obviously let me know