Syndicatered is back online, and posts about the credit repair mechanisms he's mentioned before (paragraph breaks added):
So how exactly do you kick out one of these credit killers? Two techniques work, one is to kick out the legs of what made up the BK or Foreclosure, so say for instance you had 3 credit cards that were wiped off in your BK, these items are listed and reflected on your credit report as BK items. You dispute the 3 credit cards until you get them wiped off, its a matter of time and persistence and you can get pretty much anything knocked off, sometimes it just takes a little bit longer time. So if you get everything that made up the BK removed via the 30 day method, than how can the BK possibly stand if everything it represented cant be accounted for? Because they can't prove the validity of it anymore, they have to delete it whether you really had a BK or foreclosure or not, your just working the system and using your rights.
The second method is soo awesome, I love this, so when you get say a Foreclosure they lodge you in county records, depending on your city where you recieved the foreclosure or BK determines you may have a little bit different variation because of how your court system handles its paperwork. So your courthouse will either house your record in the court house in an offsite store place. There are only two people who are actually allowed access to your file, you and the clerk of courts. So lets say the credit bureau's want to verify that you have a file with them they call the clerk to access it. So how do you spin this?? You go and request your file and depending on where it is you may get it immediately or they have to send for it so it could be a day or two. When you have your file or the clerk of courts has your file waiting for you, the file is in limbo to other parties. So if the credit bureau goes to pull for your file, it comes up as file not found. The idea is to delay your file from being returned for as long as humanly possible, whatever bullshit you have to feed to keep your judgment from going back into the system.
The more he clarifies the method, the more shady it seems.
Is it ethical? I think so. The laws are there for me as a consumer and I for one am all about working the system in my favor. A lawyer can charge you a few grand to do that for you and get them removed or you can do it yourself with some deliberate effort. It's not easy and you have to keep good records. Is it wrong to answer no on a loan app to the have you ever had a BK or Foreclosure question? I'd say in that case your lying and breaking the law as it applies but good look on them even caring cause they can't prove it. So thats all there is to it.
Well, there are several reasons to think this is unethical if not illegal. First, we have the tragedy of the commons. Just as people who abuse antibiotics by "working the system in their favor" end up helping to create super-resistant bacteria that endanger everyone, people who abuse the bankruptcy system will end up killing it. The legislature will not stand idly by and allow people to do this.
Second, it appears from a quick Google search that in order to dispute an item on your credit report, you need to say that you believe the item is incorrect, and state your opinion as to the facts. So what do you say? "I never had these credit cards?" "I never filed for bankruptcy?" A simple fix for this would be to require that people who dispute credit items do so under penalty of perjury - as in "I certify that the above information is true to the best of my knowledge," and if you're lying, you can go to jail. I would be disappointed to learn that this isn't already the case.
Beyond the legal and ethical issues, there's just the practical issue of does this process actually work. He's saying that if you can't get a credit card record off you need to be persistant. This seems to mean that if you dispute a credit card, and the bureau gets proof it's valid, you just dispute it again. You would think that after the first few times this happened, the bureaus would learn that someone who disputes an item is likely to dispute other items or the same item again. They could easily have a file folder for you in which the simply place a copy of the proof for future reference. In fact, here's a quote from the FTC's web page How to Dispute Credit Report Errors (emphasis added):
Consumer reporting companies must investigate the items in question—usually within 30 days—unless they consider your dispute frivolous.
My guess is that the third time you request to have a legitimate credit card record removed from your report that they can just consider all further requests from you to be frivolous, and at least in Syndicatered's case they'd be correct.
Let me revisit some individual things he said:
So if you get everything that made up the BK removed via the 30 day method, than how can the BK possibly stand if everything it represented cant be accounted for?
I'd say the fact that there's a public record at a courthouse of your bankruptcy or foreclosure would mean they could keep it even if you manage to annoy them into removing credit card records.
so when you get say a Foreclosure they lodge you in county records, depending on your city where you recieved the foreclosure or BK determines you may have a little bit different variation because of how your court system handles its paperwork. So your courthouse will either house your record in the court house in an offsite store place. There are only two people who are actually allowed access to your file, you and the clerk of courts.
That's very interesting. Care to explain how any Joe Schmoe with an internet connection can get a link to, say, this document?
In case you don't want to click it, here's what it looks like:
16 comments:
"good things are in the works." casey serin, you're an archtype.
I don't need "credit repair" and i guess that says something right there. From a LiveJournal perspective, people who prohibit comments set off all kinds of flags for me. I have practiced yoga intensively for seven years, and know what namasté means. It's a claim that he honors the divinity within me. Yet he doesn't want to hear my responses, out of fear they might contain negativity. Where's the honor in this distrust?
"expanding my operations to include currency transactions" is clear as mud. i own some euros but saying so is neither description of a business value-adding proposition or a particularly astute investment decision. i think it's a sensible hedge. is he merely describing the ownership of foreign currencies for speculative purposes? why shroud it? unless you're a kid trying to wear bigger pants than fit you. is he another DebtKid in the making? at least his girlfriend can set worthwhile, achievable goals and add real value. props to her.
here's a clue: his girlfriend/lover has an active livejournal. perhaps he's trying to impress her. there's a "currency transaction" right there.
John, I am reading your responses and responding to them am I not or have I missed something? As for the credit repair, this is information obtained from books and MP3's from credit experts, I didn't make this up and as per the Lis Pendis, thanks! I had no idea that was out there. The Condoe building "Silver Thatch" has a $51,000 assessment that, well to say the least, I cannot afford to pay an additional $850 a month as well as the mortgage and my other bills. They are pretty much shit out of luck if they do decide to foreclose on me in the next few months out because they have second lien on the mortgage which is upside down $98,000 anyhow, i.e. they won't get anything. I wouldn't be shocked at all to see more than 50% of the units with the same Liens on them seeing as how the building is unlivable from 8 am in the morning till 6 at night due to cement drills they have on all floors of the building for the next year. You can't hear someone 2 feet away from you shouting at you, it's that bad. On the public records, it won't work for the purpose of the credit dispute to my knowledge because it could have been nulled and not have been deleted, as frequently happens, so they have to go back to the courthouse where it was lodged to verify its accuracy.
As per currency, it's exactly like you think only on a large scale, i.e. someone (or a company) has say 50 Billion in Euro's and wants dollars or visa versa. At large denominations there is a discount on the money of usually 10%. It's not my money I'm selling, I get paid as an intermediary amongst other intermediaries for arranging the transactions to take place because you are going through private channels on the Currency typically, i.e. it's not like you are walking into Bank of America. You have people and institutions with a lot of $ who want to keep their business dealings private from say the fed or perhaps they just have their own procedures they prefer to follow which are difficult to accommodate. There is 5% commission on all currency transactions, 2.5% of which is open to the people in the middle. The way it works is say in a Euro to Dollar transaction you have the Euro mandate (the Euro providers registered representative) who gets .83% of the commission, .83 to the dollars representative and than the other .83 is split 50/50 between the euro intermediaries and the dollar intermediaries which there are usually from 4 to 7 of to make the deals happen. When dealing with bank REO's, there is 2% commission available on the transaction, bank instruments have 1%. Commercial financing you get whatever you negotiate with the person who's looking to do the project as there are no regulations such as RESPA to cap what you can charge, we charge minimum 1.75%. Commodities often have a 2% commission as well but that can vary depending on the commodity. All of the above have somewhat similar payment structures with regards to mandates, reps and intermediaries. And if my girlfriend has an LJ account, thats news to me.
stupid internet ate my reply. summary: it's not a silent journey if you keep talking. enable replies on your posts and build relationships. my relationships to investors and inventors on lj have been invaluable to me. i also wrote down my own goal for 1/1/09, but it wasn't nearly so grand as one million dollars.
I get paid as an intermediary amongst other intermediaries for arranging the transactions to take place
Yet this payment you get for your financial high-rolling on the international money markets isn't enough for you to cover your monthly nut? Some swift mental arithmetic says things don't add up, here.
You have people and institutions with a lot of $ who want to keep their business dealings private from say the fed...
Wait, are you sure these people are legit? I'd hate for you to have discovered some nice business opportunity only to later find out you are laundering money for the mob or something.
If this is legit, then good luck to you. However, the thing I like to ask myself about these types of opportunities is: If the money is so easy to make, why hasn't every available dollar already flocked to it? This is the same question I have about your commercial business, and why I pointed out that there are like 200 copies of your website out there - you are competing with everyone.
But, it sounded like you had at least one deal in the pipeline so that's good news. I'd love to hear update on that on the LJ or here.
Thanks for bringing back the Livejournal, I appreciate being able to follow along.
God this guy is so full of it. He's naive, a little dumb and so easily mislead.
Like if I need $50 billion in Euros I'm going to pay 5% on it. Hahahahahahahahah.
And on top of that, ya, the people that are doing $50 billion currency transactions sure would go to some guy who's never done this before but he did stay at a Holiday Inn Express last night and he also took a course from Kellene Bishop.
This dude is delusional.
Doug,
Google is pulling my name again with the shiteweasel link. Can you please look into this? I think it's pulling off the title of one of your posts that has my name on it. As per your question as to the legitimacy of the companies I am working with on these transactions, the possibility of fraud is very real and very high, especially when you get in the bank instrument market. Currency's have a little bit more safety net built in because the transactions are set up in such a way to protect the currency holders via conditional pay orders or on a strict bank to bank basis. I run into fraud frequently but I have the knowledge, experience and resources now to at least know what to look out for. When we first started down this road, we were playing with fire. The transactions I am working on are real but easy to pull off? Hardly. I have to worry constantly about fraud, peoples ability to perform, and like you said the potential of money laundering. The 200 identical websites are other students of Kellene, they are competition but honestly we end up working together with many of them, bounce idea's off each other, refer projects that aren't for us, utilize their resources etc, there is a lot of business out there because it's a global market, we are doing our own thing with our own focus, their business models are up to them. They are in the same boat as we are only we have been focusing mostly on where the most amount of $ is which isn't the commercial loans. Some of the brokers we deal with on a day in day out basis have made huge amounts of cash however the vast majority have not, some of them it looks like are even headed to jail for committing fraud themselves or being a part of transactions that were fraudulent where people lost huge sums of $.
TK, please feel free to enlighten me on how 'I'm full of it and a little dumb.' Last time I checked I've been perfectly honest with my situation, open about the pitfalls I face, the money potential that exists, the size of the transactions I am attempting to close, etc. As per my "dumb" level, educationally I speak 3 languages, have 6 college degree's, maintain excellent meaningful relationships,work out every morning, eat pretty good,I'd rather read than watch TV and have a pretty firm grip of reality given my situation and my capabilities and I'm actually doing something to try and achieve what I'm capable of. As for your comments on the 50B, it's pretty apparent you aren't very big in the thinking department. Let's see, if I have 50 Billion in one currency, I want another, I can get it at 10% less than what it's worth and out of the 5% commissions I only have to pay 2.5% of that and keep the other 2.5% for myself, well I just walked away with an immediate 7.5% profit. Please enlighten me, I'd love to hear your brilliant reasoning on how that doesn't make sense given it took possibly 2 weeks if it goes through. People like you really make me laugh TK because you deserve everything you manifest in your life and blame it on other people when it doesn't work out, good luck with all that.
Andrew this is why you are naive and goofy.
You actually think someone with 50 billion in Euros is going to pay 10% to exchange it. This is retarded. Using something like XE (see xe.com/fx I use it all the time for my business) even for small amounts you are only taking about a 2% hit, 10% are you kidding? Not to mention that for large sums you can go to a bank or a forex dealer and get a sizable volume discount.
So yeah, I don't think you know what you're talking about. You swallow what these people feed you uncritically and your head is in the clouds man.
And also, who the hell is exchanging 50 billion of anything for anything else? No one person has that much, and I don't know if any corporations do. Wal-Mart has about 7B in cash reserves, WaMu has what 11B? So who is going to exchange that much and more importantly why would they go through you?
Even if it's smaller amounts, say $1M, where would someone go? Maybe a bank? Or a forex dealer? And then shop around to see who can give them the best price? You can't even come close, you have no experience in this business and even throwing around numbers like this makes you laughable. Answer those questions.
And also, please elaborate on that $21 trillion you were trying to find a home for. Whatever happened to that? I'm going to guess after you wired the good faith money to the guy in Nigeria you never heard from him again. That's why you're just a naive goofball that's full of it. To think that anyone holds $21T in loans and further that they'd come to you even if they did... that's either stupidity or naivete probably a little bit of both.
As to me, I do pretty well, I also own my own business and it's doing great. I don't even have to go to reiki or talk about positive intentions or anything, I just work hard and good things happen.
OK so there's some questions above I'd really be interested in the answer to.
And I am just looking at these numbers and laughing. So if this transaction goes through the guy on the other end just paid a $5 billion commission on his money. Does this make any sense?
And then you'd be worth $3.75 billion. How many guys on the world billionaires list do you think got there from one or two currency transactions?
If you'd like to make a wager on whether you'll be a millionaire in a year or not I'll put up $5k that you won't be. We can find an escrow and make it happen, that would be pretty fun and maybe give you just a little more motivation to prove me wrong. Interested?
"I speak 3 languages, have 6 college degree's..."
I know it's a minor point, but the apostrophe does not belong here. You misuse it routinely. Did you know that? Perhaps none of your three languages are English, so I do understand.
I am also convinced there's a rat here. You are either laundering money earned from a crime, or there is some other illegitimate reason someone pays 10% on a currency transfer. Is that accurate? Ten percent on a currency transfer? Why do you think people accept that degree of surcharge?
Do I also make you laugh? The sort of derision you're expressing ("... really make me laugh...") does not typically accompany incredibly successful personalities. That's negativity to an extreme degree, oozing out every pore of you in that paragraph. What bother do you have with those you think are just bitter naysayers and curmudgeons?
I'm not saying you're a bad person, but I'm strongly considering joining the bet against your one million dollar "intention". Please let me know the precise terms.
Andrew-
I'm sorry that Google was showing "shiteweasel" in searches for you again. I've changed the name of the blog, and I'll leave it this more innocuous "shadenfrentrepreneur" so that it won't be scatological.
I see you've deleted your LJ again, I hope that when Google reindexes and stops with the "shiteweasel" you feel you can bring it back again. I will not use the word "shiteweasel" on the blog anymore, because it's not my intention to link an insulting word to anyone's name - except maybe Casey, but even then I think we can keep it clean and respectful.
Good luck, and peace...
Wow...simple wow. I think this guy has some big ideas and goals. I think he can pull it off. At least he has some initiative and a dream.
I just worry the risk outweighs the reward.
Six college degrees!? LMAO. I know one guy who has that many -- three bachelor's, two masters and a PhD -- and it took him quite some time, even though he's pretty darn smart and focused. Isn't Syndicatered like early to mid-20s?
If you're reading, Syndicatered, please enumerate these degrees. Taking a seminar in commercial lending does not qualify as a college degree.
I notice now that Google has indexed the new name, so now the word "shiteweasel" does not appear in searches for your name, Andrew. I hope this helps.
Good luck, I hope the new year brings you knowledge and power and success, in whatever form that needs to be.
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