Do I have to Pay For Accounts Removed From My Credit Report

(edited from life) Today we're talking about wether you have to pay for accounts that were disputed and removed from your creidt report. If you would like to learn how to do a credit sweep head to https://hub.my740.com or if you would like to see if I can do a credit sweep for you head to https://my740.com 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: loan, I have been asked probably 18 times as to whether, when you remove something from your credit report, do you still have to pay for it? And unfortunately, the answer to this is yes. But if you just think about this for a moment, it will make sense, okay? Just imagine a world. Just imagine an economy, just imagine a United States where you can just dispute something, get it removed from your credit report and then not have to pay for it. Right? Why pay for your credit cards? Why pay for your water bill? Why pay for your student loans? Why pay for anything for that matter? I mean, it's just as simple as sending out a couple disputes and getting it removed. Right? The IRS wouldn't exist, right. Debt collection companies wouldn't exist, lawsuits for this wouldn't exist, the credit bureaus wouldn't exist, because it would be consequently as why put it on your credit report to begin with. That is my question. All right. So yes, I understand. We want to remove these things from our credit report, and we want it to be quick, we want it to be overnight, we want it, we want to do these things and go out and get our credit and do it all over again. Right. But it's not as simple as that. And if it were, this entire thing would be a little bit different. Hey, Kristen, if you remove this XYZ account, from my credit report, do I actually still have to pay for it? Who's telling you that? Alright, so look at this example, here, we have two different sides of this, right, we have the credit bureaus who report the debt they are they are literally in the data business, right, they obtain, maintain and sell your information, okay, they do not hold or own your accounts, your debt, okay, that's on the other side, the data furnisher the account holder, okay, not all data furnishers or account holders, because you can actually have the original creditor and then you can have the debt collector that is associated with it, right. But we're talking about the actual company that holds the debt such as Capital One, so you have Capital One, you owe them $5,000, they report this to the credit bureaus. And they're basically showing everyone that, hey, you're either paying on time or you are not paying at all or you're paying late or you're good, and then you paid late, whatever it is, your payment history is now reporting with the credit bureaus, and Capital One pays to get this information reported to the credit bureaus. And that's why you don't see all of your accounts reporting on all three bureaus. What you're basically telling me is that when you go in, you remove this from your credit report. Now you no longer owe this debt, why it was just deleted from a database. See, your credit report is just a query a search run on a massive database, because the report millions and millions and millions and millions and millions of accounts for millions of consumers 270 scorable consumers, right. So now, all of this information is in these database