TMU R UAL LNT AND “THE THREE MAJOR BUREAUS”Right of Rescission 1635Disclaimer This publication is designed to provide accurate and authoritative information with regard to the subject matter covered, While all of the stories described in the book may be based on true experiences, most of the names are pseudonyms, and some situations have been changed slightly for educational purposes and to protect each individual's privacy. It is sold with the understanding that the publisher is not engaged in rendering legal or other professional advice. If legal advice or other expert assistance is required, the services of 2 competent professional person should be sought. All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic, or mechanical, including photocopying, recording, or by any information storage or retrieval system, without the written permission of the publisher, except where permitted by law. The authors and publishers specifically disclaim all responsibility for any liability, loss, or risk, personal or otherwise, which is incurred as a consequence, directly ot indirectly, of the use and application of any of the contents of this book. ‘The Bureau Bullies LLC, its Logos and Marks are trademarks of The Bureau Bullies LLC.Umar Clark & Muhammed Clark Welcome Thank you so much for your support, I do not think you know how much it means to me to be able to be of service to you. I pray this work benefits you and yours for generations to come. Please scan the QR code below: Please keep in mind that you do not have permission to screen record and illegally distribute the videos in this book. The passwords are subject to change at any time. If they do change, please email info@thebureaubullies.com. The video platform we use gives Us the ability to see if any of our content is being screen recorded.Bankrupt the Bureaus a Unlearn & Relearn Learning something new in general can be extremely stressful, but what can be even more seressful is having to unlearn and relearn. Most of the people who attend our classes are not people who are just learning about credit. Most of the people we teach are people who are credit repair specialist or people who have a history of studying credit; which is good, Many credit repair professionals have helped change the lives of a lot of people, which we love. However, what happens with most of them when they learn from us is they feel like they have been taught a lie, ot lived a lie, and then they begin to beat themselves up because unlearning and relearning is a very stessful and humbling process. Trust me, I know. So before we officially dive in, I would like to aid you and give you one of the methods my team and I use to aid us in our studies and stress management. Please scan the QR code below:Bankrupt the Bureaus When I wrote DIY Reparations, my intention was to fill a void. Not just in our community, which lacks proper education and understanding on debt and credit, but also a void within myself. I was in deep pain from watching the oppression of my people. Months later, I am still in pain. There is still a void in me and our community, but after being blessed to impact so many lives with the knowledge I have been loaned, I can honestly say that I feel a sense of fulfillment. Our work is nowhere near done, but we have done what many are afraid to do and that is take the first step toward freedom, justice, and equality. The hardest part of producing something impactful, and something of value, isn’t the critiques of those who are never pleased, but it is the love of those who take your works and look to you for hope. I struggled with being called a leader, guru, and a master; because none of those terms are true. I am a student, and I am above no one. My hope and prayer is that all of those who I impact or meet surpass me, so that they can see that they are their own guru, The knowledge I have been loaned is not a secret, nor is it something special. It is public information and readily available to any and everyone. I dedicate this book to those who look to me and my works for hope. May this book motivate you to look to you and see your own power, and ultimately inspire you to Do For Self. Please scan the QR code. The password for every QR code included in the book is ILOVEMYSELF in all caps.Umar Clark & Muhammed Clark The Theory Before we officially dive into this chapter, I would like to make it clear that this is just an educated theory of mine and not fact. The things I am about to say are merely based off my own independent studies. My theory is that banks and other corporations, who are involved directly or indirectly wich the extension of credit, whether in connection with “loans” or anything similar, all got together and developed the three major bureaus (Equifax, Transunion, and Experian). Why would developing consumer reporting agencies be advantageous to them, you might ask? My theory is because it gives them the ability to strategically undermine the consumer. How so? If you read our other book, DIY Reparations (which we strongly suggest you do), you would know that after 1933, the government agreed to assume all liabilities that arise under transactions using your credit card (social security card) pursuant to 18 USC 8. Just like now, most people then did not understand how to operate in commerce, and on the other side, the laws at the time were not adequate enough to equip the consumers (us) with the proper procedures to know how to operate in commerce, and it is not the role of the government to teach a natural person how to do so. They just put laws in place for you to act on. The power of being a natural person is based in the fact that you can speak, act, and do for self, Only corporations/citizens wait for someone else (government, attorneys) to act on their behalf. Back to our original point; them knowing that all obligations arising out of transactions using your credit card (social security card) were in fact the obligation of the United States, they knew this did not give them much power. Why? Think of how powerful itis for you to be able to walk into a car dealership, a school, or a bank and give them credit out of thin air, This credit in turn keeps the dealerships, schools, and banks alive. Wane proof? At the beginning of the FCRA (Fair Credit Reporting Act) 15 USC 1681(a)(1); Congress tells ue that the banking system is dependent upon fair and accurate credit reporting. Meaning the banks are dependent upon credit, To be dependent on something means you can't live without it. Fish are dependent on water. So for Congress £° tell you that u |Bankrupt the Bureaus i tg yourself who creates/originates credit? eed to as) tanks are dependent upoa credit, you ™ svouldve never used the word dependent, no; Ifbanks could originate credit, COMBE” oo be enacted. Clearly the language A it Reporting Act) ™ z A would the a pels a ee of the language, is a dead giveaway of who the Congress uses; the nature, ig you. Pursuant to 12 USC 1431, the role of a original creditor is. ‘The original ane a oe oe Fe circles they an bank is not to extend credit, nor et theory? Well, in order for me to make sense of yee So what docs this have 940,011 hen the banks, and the other firms my theory, I had to first show you your power. 90 Gal ane etc.) see the power that you, the natural person and consumer have, they lerships, : have to find a way to undermined you and keep you from finding put that you have an open-end (unlimited) credit plan. To hide the fact that credit is designed to remove obligations, and that a natural person is supposed to live debt free. Reflect on this, and I mean deeply reflect on it. You have the power to enter any bank, school, or dealership in this country, give them your credit card (social), and get anything you want. Any amount of money, any car, and house, and not assume any liability pursuant to 18 USC 8. Doesn't that amount of freedom sound a little too good to be true? I¢’s not, but they had to make you believe it islwas. If you look at the beginning of Truth in Lending (15 USC 1601), Congress says that economic stabilization would be enhanced if consumers were made aware of the truth about credit. The title Truth in Lending proves that someone was lying before the law was a but it also shows as if consumers were made aware of their open-end credit plan, rere would be no recessions and the economy would remain stable. But if there were no recessions and the economy was always stable, how would that be advantareous to banks and corporations? It wouldnit be. Banks feed - economy is stable, no one is desperate, So these themselves have an advantage they were never They begin to collect credit j third parties (bureaus),‘Umar Clark & Muhammed Clark oy know. Anytime your credit card (social) is used in any consumer credit transaction, youre supposed to get whatever you want, but this would give you way too much power. So banks use bureaus and give them the power to “decide” if you're worthy of your own credit. What the banks and firms fail to disclose to you is that anytime they use your social in connection with any consumer credit transaction, they are paid. So whether they “approve” you or not, they are paid as if you were approved. Do you see the blatant corruption? Does my theory now seem to make sense? Let's get into it. Please scan the QR code to watch the theory.Bankrupt the Bureaus Definitions Twant you to look ar title 15 as a big book, and chapter 41 as a chapter in that book. Beneath those chapters are smaller chapters which Congress refers to as subchapters, To give you a better understanding, I am going to name a few of the most well-known subchapters of title 15 chapter 41; 15 USC 1681 aka the FCRA (Fair Credit Reporting Act), 15 USC 1692 aka FDCPA (Fair Debt Collection Practices Act), 15 USC 1601 aka TILA (Truth in Lending Act). There are a few more, but these are the most common ones, All three of these are subchapters of the big chapter of the book that is title 15. You should use them all together in most cases, but you must understand your role and power under each one individually. DIY Reparations covers 15 USC 1692 aka the FDCPA (Fair Debt Collection Practices Act). Bankrupt the Bureaus will cover what we believe is the most important parts of 15 USC 1601 aka TILA (Truth in Lending) and 15 USC 1681 aka FCRA (Fair Credit Reporting Act). Before we dig into the first chapter, we are going to take a few definitions from title 15 chapter 41. We are only using these definitions so you can have a better understanding of some of the terms you will be seeing quite often throughout this book. All you have to do is google the specific subchapters we are going to cite below and view the definitions for yourself. The first word you will see often is “credit card”; we are going to define pursuant to Truth in Lending which governs all credit transactions. Just simply google 15 USC 1602, which is the definition section and scroll down to the definition of the term “credit card.” Before we show the definition, I want to stress the importance of learning the power of individual words. Most of us have been falsely taught to only look at sentences as a whole, but in law and especially in commerce, each word is an individual action, and each word is its own paragraph within itself. So the manipulation of words can make or break someone's understanding. Learning words and their power is the true |u ey‘Umar Clark & Muhammed Clark foundation of truly understanding the law. So this is why I tell everyone to read and master the specific definitions in each subchapter and then get a Black’s Law Dictionary and break down cach word that you do not understand. Then from there, study the erymology of the word. Avoid Webster and Oxford dictionaries. There is a reason they only put those in schools, and the definitions never match what you see in commerce. Law is a language. Lawyers and attorneys don’t master laws, they master words. Back to our definitions. Our first definition will be the term “credit card.” 15 USC 1602 defines a credit card as- () The term “credit card” means ANY card, PLATE, coupon, book or other credit device existing for the purpose of obtaining money, property, labor, SERVICES, on credit. I capitalized three words above: ANY, PLATE, and SERVICES. These three words are powerful, but the untrained eye would miss them, so | am going to break them down. ‘The word “any” means “no restriction.” This is ultra important to memorize because you're going to see this word a lot, and it’s extremely powerful. So when Congress defines a “credit card,” this means there is no restriction on what kind of card, just ANY card that is used to obtain money, property or services on credit. Then they used the word PLATE. What is the only plate in your life that has numbers on it and is used to obtain things on credit? Go ahead and guess. Better yet, I'll answer for you! Your license plate! Your license plate is a credit card!! Next, they used the word SERVICES! Services would be your utility bills. Can you go to your utility company and get your utilities tured on using just your Amex card? NO! So that would mean that card is not truly a credit card pursuant to federal law. What do they ask you for before they turn your lights on? Your Social Security number! The definition of a credit card proves your social is the credit card! This is why every transaction you do on credit they ask you for your social! Make sense yet? Now the above definition is pursuant to federal law. Most of us never heard or knew of this definition, and that was by design. Not knowing this one definition is the reason most of us have become slave to credit scores, alleged debt, and these bureaus, Now that you have seen the true definition of a credit card, let me show you how Oxford defines a credit card. The Oxford definition isthe definition that most of us were falsely taught. 1s |Bankrupt the Bureaus Dictionary Search for a word Q >) credit card noun small plastic card issued by a bank, building society, etc., allowing the holder to purchase goods or services on credit. “| gave my credit-card number" Definitions from Oxford Languages Feedback sie ha oie Set eae v ‘Translations and more definitions You have one term and two different definitions. Why? In the above definition, they say that a credit card is a plastic card issued by a bank, so using that definition implies that the bank has to give you credit in order for you to have a credit card. This definition is a play onwords, a play on the mind, and a bold face lie. Go back to the definition above and read how the federal law defines a credit card. You do not see the game yet? The reason they can boldly distort truth in public like this is because most of us have not read or been taught the laws that protect us, and if we were taught, it wasn’t put in our language. This is what we are here for © Let’s move on to the next definition. Please remember to reference the definitions used above to understand the book. When you see the word credit card, only use the federal law definition referenced above which is 15 USC 1602 aka TILA (Truth in Lending). Our second definition is the word “credit.” Again, all of our definitions are coming from federal law which is 15 USC 1602 aka'TILA (Truth in Lending). In order for you to have any success with credit, you must first know the definition of credit. 15 USC 1602(f) | 6Umar Clark & Muhammed Clark ‘he term “credit” means THE RIGHT GRANTED by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment. Read that definition a few times. In my opinion, the most powerful part of that definition is what I capitalized above: ‘THE RIGHT GRANTED. So in order to be a creditor or to extend credit, you must be GRANTED the right. This is the true definition of credit. Now, let’s look at the definition of credit we were taught/given. Dictionary Search for a word Q ©) credit /kredet/ All )( Finance ){ Film )( Broadcasting ) Education noun 4. the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. “I've got unlimited credit" Notice in the definition above they do not mention “THE RIGHT GRANTED.” The definition above insinuates that someone, or something other than us, can create credit out of thin air for money, property, or services on credit. This is highly deceiving, If you do not understand that in order for a creditor to extend credit they must first be granted the tight to be a creditor by an original creditor, it will be easy to deceive you into believing you are a debtor, and that someone loaned you something, You see the game yet? They used words to control you. This is why you must learn the words under the federal that are enacted to protect you. I laws v|Bankrupt the Bureaus » seain, This definition will come from TILA cor” again. This defini nis so powerful, we will write Our third definition is the word “credit is definitio (Truth in Lending) aka 15 USC 1601. Because this it below then use graphs ro further explain it. 15 USC 1602(g)- (@ The term “creditor” refers only to a PERSON who both (1) regularly extends, peether in connection with loans, sales of property or services, or otherwise, consumer credie which is payable by agreement in more than four installments or for which the Payment of a finance charge is or may be required, and (2) is the person to whom the debt arising from the consumer credit transaction is initially payable on the face of the evidence of indebtedness or, ifthereisno such evidence ofindebtedness, by agreement. Notwithstanding the preceding sentence, in the case of an open-end credit plan involving a credit card, the card issuer and any person who honors the credit card and offers a discount which is a finance charge are creditors. For the purpose of the requirements imposed. under part D of this subchapter and sections 1637(a)(5), 1637(a)(6), 1637(a)(7), 1637(b)(1), 1637(b) (2), 1637(b)(3), 1637(b)(8), and 1637(b)(10) of this title, the term “creditor” shall also include card issuers whether or not the amount due is payable by agreement in more than four installments or the payment of a finance charge is or may be required, and the Bureau shall, by regulation, apply these requirements to such card issuers, to the extent appropriate, even though the requirements are by their terms applicable only to creditors offering open-end credit plans. Any person who originates 2 or more mortgages referred to in subsection (aa) in any 12-month period or any person who originates 1 or more such mortgages through a mortgage broker shall be considered to be a creditor for purposes of this subchapter. The term “creditor” includes a private educational lender (as that term is defined in section 1650 of this title) for purposes of this subchapter. Pay close attention to the word I capitalized. Because they used the word person, not corporation. This immediately rules out the possibility of Amex, Discover, etc. of being original creditors. Want more proof? Let’s look at the definition of “person under the same law. 15 USC 1602(e) term “person” means a natural person or an organization,Umar Clark & Muham: ned Clark The word or is a powerful word, as it gives the reader the power to go whichever way they choose. Meaning in any moment you can choose between being a natural person oran organization. Who gets ro choose? The NATURAL PERSON. ‘The natural person meaning you. Natural meaning you were naturally born the way you are. No one can form you nor create you. So when they define the word creditor using the term penon and nos organization, its because only a natural person can administer the origination of credit, Ger ityet? Now take a look at our creditor graph to further give you a breakdown of che definition of a creditor. How it's written ts creditor bt as eS + a) What they could've said- creditor |Bankrupt the Bureaus o For the rest of the definitions, please scan the QR code to view the video that comes with it. Do not proceed until you have watched the attached video. Just simply take out your smart phone, open the camera, and point at the code as if you're taking a picture.Bankrupt the Bureaus The Timeline In order for you to understand your power concerning the consumer reporting agencics, you must understand credit, To understand credit, you must understand the law that governs consumer credit transactions. Which is TILA (Truth in Lending) AKA 15 USC 1601. The interesting thing is, TILA was passed in 1968, and the FCRA was passed in 1970-1971, “Then the FDCPA is passed in 1977. This timeline is ultra important to understand because Congress is showing us something delicate and powerful. What are they saying? First, they are letting you know with Truth in Lending that we are misinformed about credit, and because of that, we can be manipulated by recessions. Not only did Congress realize we were misinformed/being lied to, they realized that these transactions were being reported and we were being scored based on them, Then after that they realized that they were now trying to charge you for transactions that were already paid for and you were being billed for them, This is when Congress passed the FDCPA. Does the timeline make sense? To most, it would have made sense for us to release Bankrupt the Bureaus first, but in reality, it didn’t make sense. We started with the statute that was easiest to digest, FDCPA, so that the people could get their feet wet and gain confidence in themselves before they moved along to the lengthier statutes (TILA, and the FCRA). Please keep in mind, we are not covering the entire statutes. We are just covering what we view as the most important parts of each statute.Bankrupt the Bureaus The Finance Charge Now that you understand the definitions of credit, a credit card, and a person, you must now learn the definition of a finance charge. We are still under Truth in Lending; we are just under the subsection that covers the finance charge, which is 15 USC 1605. If you Took at your auto contract, you wll see a section where they talk about a finance charge. A finance charge is involved in every consumer credit transaction. Any transaction where you are asked for your social, in fact, involves a finance charge. For some transactions, it will not be shown in your paperwork, but you can request it in writings which I highly advise you to do. First, let’s look at the definition we were taught growing up, then let’ look at the true definition. In United States law, a finance charge is any fee representing the cost of credit, or the cost of borrowing. It is interest accrued on, and fees charged for, some forms of credit. It includes not only interest but other charges as well, such as financial transaction fees. Wikipedia People also ask What does a finance charge mean? a Afinance charge is the cost of borrowing money, including interest and other fees. It can be a Percentage of the amount borrowed or a flat fee charged by the company. Credit card companies have a variety of ways of computing finance charges. Do you see the Google definition? If you ask any car dealer or credit card company, they will tell you that the finance charge is just interest you're charged on the amount financed. |Another lie. Let’s now look at the tru mind to be blown. Please scan the Umar Clark & Muhammed Clark definition of a finance charge. Prepare for your QR code. Password is: TLOVEMYSELFBonus Webinar- Right of Rescission 1635 Please scan the QR code. Password: ILOVEMYSELE ™Bureau Bullies Financial Freedom Justices Equality 2]Bankrupt the Bureaus Show Me the Charges and the Money- ‘Almost every statute under title 15 chapter 41 has a civil liability section. Meaning they have a section under that particular law that shows you how much you are owed if you're violated. The interesting thing about Truth in Lending is that they talk about criminal liability before civilliability. Meaning someone is supposed to be charged for willfully violating you. So when they willingly conceal the truth about a finance charge, or don't tell you about your right of rescission, they are supposed to be criminally charged before they pay you. Citing this section alone (criminal liability) normally scares them straight. Scan the QR code below and let's look at both of them. Password is: ILOVEMYSELF | 28Bankrupt the Bureaus Pause “Pause” because we want You to take a pause and digest what you ‘We named this chapt fe named this chapter write down the definitions of each of the have learned so far. On a separate sheet of papet, following. Credit- Creditor- Organization- Person- Credit Card- Finance Charge- We only want federal law definitions from 15 USC 1602. Before you go look at the chapters or google 15 USC 1602, try to write the definitions from memory. This is ultra important because before we can dive into the FCRA (Fair Credit Reporting Act), you need to know these definitions. If you do not get the answers correctly right away, do not beat yourself up. Just do the best you can, but make it your business to master these words. Once you're done with this exercise, let’s flip over into the next chapter! It’s time to dive into the FCRA. 15 USC 16811!!!Bankrupt the Bureaus The FCRA 15 USC 1681 ‘We are now about to dive into the FCRA (Fair Credit Reporting Act). We will start with the congressional findings which is 15 USC 1681. Just simply google 15 USC 1681 and press the link for law.cornell.edu, This is not the only link there is, but this is the one we use, Whenever Congress enacts a lavs, they start with the congressional findings. Meaning Congress found something, They are telling what they found and why they are enacting the specific law based on what they found. Let's get into it: (@ Accuracy and fairness of credit reporting The Congress makes the following findings: (1) The banking system is dependent upon fair and accurate credit reporting, Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system. First, let’s define nwo words that Congress uses at the beginning of the FCRA: 1. Accuracy- We have been falsely taught that accuracy means your open dates on your accounts have to match or that your birthdates have to match on your reports. That is false. Accuracy means “all values are deemed correct,” so accuracy is a measure of value. Value can only be determined bya human being/living being/natural person. So when Congress references accuracy, they are leaving it up to you to determine whether your credit reports are of any value to you. So my question is, are your credit reports valuable to you? Only you can answer that. 2. Faimmess- Most of us have been falsely taught that fair means 50/50, meaning two people split one thing in half and that makes it fair, That's false. What if you split a truck in half with a friend and his side is in good condition, but your side is damaged, is that fair? No. The true definition of fair is “no one person is taking an unjust advantage of another. So when Congress references fairness, they are asking you to decide whether | 2Umar Clark & Muhammed Clark yur reports are just and if is taki ae Pp 4 4 t someone is taking an unjust advantage of you. Read along, re going to learn that som i j f yo 8 leone has most definitely taken an unjust advantage of Look ate at the language Congress uses in the first sentence of the FCRA. They immediately show Paaucmind you of your power. Congress says that the banking system is dependent upon sree Dependent is a powerful word. Fish are dependent upon water. Meaning fish cannot live without water. So Congress is telling you that the banks cannot live without credit. What is the definition of credit? Who originates credit? BINGO! You do! So Congress is telling you right away that the life of the banking system is dependent upon you. Ina nutshell, the life of a bank depends upon whether or not you choose to do business with them. Then they say inaccurate credit reports directly impair the efficiency of the banking system. What is the definition of accuracy? Accuracy is a measurement of value, so that means if something is inaccurate, it is in fact invaluable. Then Congress uses the word impair. Impair means “to diminish the value.” So Congress is telling you that if your reports are not of any value to you and you decide to stop giving the banks credit, it diminishes the value of the entire banking system. Do you see how powerful you are? Congress most definitely does. (2)An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity, character, and general reputation of consumers. Look at the language Congress uses when defining the three major “Bureaus”; it actually makes them seem quite minor. They refer to them as an “elaborate mechanism.” To t bigger. So Congress is letting you know fer to design an elaborate mechanism to ful that they had to develop an “elaborate elaborate on something simply means to make it that these corporations and bureaus got togeth: undermine you. Think about that. You're so power! mechanism” to undermine you. (@)Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers. on is the word “assumed.” Congress this role. They are not part of poration that popped out ‘The most powerful word in this sentence in my opini * . ie lets us know right away that the “Bureaus were not given visi just a cor] government or any political subdivision, they are j 33Bankrupt the Bureaus of nowhere and begin to collect and report information. Let me give it some context. IF T woke up tomorrow and assumed I was your landlord, does that mean you have to pay me rent? Think on it. I never purchased your house, nor signed a lease with you, but I decided you owed me just because I assumed this role. Sound crazy, right? And you would do something about it, correct? Apply that same logic to the ”Bureaus.” They just assumed the role. If they were given this role, don’t you think it would be mandatory for our credit transactions to be reported to them? Truth is, not one law says anything has to be reported, so that should show you how small and weak the bureaus are. (4)There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumer's right to privacy, Congress is now warning the “Bureaus,” letting them know that the role that they assumed isa “grave” responsibility. Meaning the decisions they make can/will be the death of them. "Then Congress ends the sentence with the “consumer's right to privacy.” Notice they put an apostrophe before the s when they wrote “consumer's,” signaling ownership. Meaning a consumer owns his/her right to privacy. It cannot be taken away, and there is no such thing as a public record for a consumer. So if someone files for bankruptcy and a “Bureau” responds by saying they are allowed to report it because it is “public record,” that is a lie, and a direct violation of 15 USC 1681.(a)(4) ©. My credit repair brothers and sisters might want to write that one down. Please scan the QR code below for the webinar. Password is: ILOVEMYSELF15 USC 1681a- Definitions Again, remember to always read the definitions sections of each subchapter. You'll notice some of the same words under different subchapters, but they will have different meanings. That is not to confuse you, but that is a testament to the power you possess. You wear many different hats, and the beautiful thing is, you get to switch between those hats when itis convenient for you to do so.Umar Clark & Muhammed Clark Denied Credit? Adverse Action (15 USC 1681m) el (WAdverse Action.— (I)Actions included. —The term “adverse action” — (A)has the same meaning as in section 1691 (d)(6) of this title; and (B) means— (@a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of, any insurance, existing or applied for, in connection with the underwriting of insurance; (ii)a denial of employment or any other decision for employment purposes that adversely affects any current or prospective employee; (iii)a denial or cancellation of, an increase in any charge for, or any other adverse or unfavorable change in the terms of, any license or benefit described in section 1681b(a) (3)(D) of this title; and (iv)an action taken or determination that is— (Dmade in connection with an application that was made by, or a transaction that was initiated by, any consumer, or in connection with a review of an account under section 1681b(a)(3)(F) (ii) of this title; and adverse to the interests of the consumer. Many of us have “applied? for credit and have been “denied” based on a credit score. The x7|letter that you receive after you are denied is called an “adverse action letter.” The most section of the FCRA (Fair Credit Reporting Act) It only mentions being denied for insurarice or for credit? The answer is in Truth in interesting thing about the adverse action is that it never mentions a denial of credit. employment. Why doesn’t it mention being denied Lending. Whats the definition ofa creditcard? What isa finance charge? IF you can answer this, then you know the answer to my question. They cannot deny you for credit because you are the original creditor. Ths is why adverse action does not mention being denied for credit because Congress knows the truth. So what really happens when “they” pull your credit and “allegedly” deny you based on your score? Do they still receive consideration (compensation)? Before you answer that, remember the definition of a credit card. Scan the QR code below for the webinar Password: ILOVEMYSELF Pe. 1 Pr. 2Sankrupt the bureaus: Inquiries Many of you are concerned about inquiries. They have allegedly affected your ability to obtain credit because they claim they lower your credit score, Below we are going to look at the civil liability section of the FCRA as well as look at a trick to get rid of inquiries pretty fast. This is known as a best kept credit repair secret by credit repair people. We split it into two webinars so please scan them one by one. The passwords are the same on each one: ILOVEMYSELF. Pr. 2Bankrupt the Bureaus Late Payments Most of us have been plagued with alleged “late payments.” We went through the definitions section of the FCRA (Fair Credit Reporting Act); did they mention late payments once? Did they define late payments? Why not? Because Congress knows the truth. If there was a finance charge involved, there should be no late payments. ‘There are no templates for addressing late payments because they are a game just like a consumer report in itself. By now you should know the truth about credit, so any debt collector reporting late payments should be dealt with long before they attempt to report this false information.Bankrupt the Bureaus Credit Score I cannot speak for all of us, but I believe I speak for most of us when I say that most of us are here because we are not pleased with our credit score. The entire credit scoring system has controlled our lives. Some of us have been denied homes, jobs, and insurance as a result of our credit scores. The interesting thing is, the FCRA (Fair Credit Reporting Act) was passed in 1970-1971, and the FICO score didn't come out until nearly 18 years later (1989), so it’s safe to say that a FICO score is not truly governed by law. Anyone at any time can come up with a scoring system and score you based on what they believe to be true. Let's get into it. Scan the QR code. Password: ILOVEMYSELFBankrupt the Bureaus Pause Let's take another pause and see if we understand what we learned so far under the FCRA. (Pair Credit Reporting Act). Please get a separate pen and pad and define the definitions given below. Only do so from memory. 1. What is a consumer report? 2. What is adverse action? 3. What is excluded from a consumer report? 4, What is an investigative consumer report? 5. What is a credit score? Please do not proceed until you can thoroughly define and explain the 5 things mentioned above. Do not rush the process. Make sure you are understanding and processing the information.Bankrupt the Bureaus Process/Template Please understand that no one can give you a process of a template for injuries that only ant/powerful thing you can do is know your rights and you received, The most import 1 stop until you have enforce your rights when you find that you have been violated. Do no achieved the desired outcome, whatever that may be. Only you can decide that for you. Notice that with all of the statutes we studied, none of them showed you a step-by-step process on how to go about redressing your injuries. They just show you how much youre owed in the event that you are violated. Why is that? Because only you have the power to decide how you are going to proceed. Many people flood our DMs and emails with questions that only they can answer. Brother Umar, what should I do if they do this? My answer is always the same: “What should you do?” I answer a question with a question because I cannot give an answer to something I was not a witness to, and I do not give legal advice. Only you were there for whatever situation or transaction occurred, When you financed your car, you were there. When you got that credit card, only you were there. So instead of looking to someone else for answers, you need to ask yourself: Was this a consumer credit transaction? Did I initiate this credit transaction with my credit card? Was there a finance charge involved? Once you can answer these questions, you will know exactly how to proceed. Below I will show you some of my processes that I use for myself when I have been violated. Again, these are my processes. | am not telling you to use them. You can use whatever process you like. Just know your rights. 1. The first thing I like to do is look through all of the paperwork involved in the transaction that I am investigating. I read through all the clauses and see which laws and disclosures are included. Example, the finance charge is always mentioned under the Truth in Lending disclosure. 2. Luse whatever violations I find in the paperwork as exhibits (proof). | 48Umar Clark & Muhammed Clark » Idraft an Affidavic of Truth citing my violations (Which we will look over). 4, [find out how much I am owed and then I create an invoice. 5. Mail all of these documents off certified mail with a green return receipt to whoever violated me. 6. I then file a CFPB complaint against the debt collector/creditor and or consumer reporting agency. _ . Ido not stop until I receive my desired outcome. I ALWAYS RECEIVE MY DESIRED OUTCOME, and so will you. Please make sure you are using the applicable laws/statutes (FCRA, TILA, FDCPA) for whoever you are going after. If you are going after a debt collector who did not furnish anything on your report, you should not be using the FCAR (Fair Credit Reporting Act). Review the graph below then Scan the QR codes so we can go over each step of the process Tuse as well as how to draft an Affidavit of Truth. Go through Cet Ur Det oret i ce ty BU RU RUM Cie) Do not stop until Renee as Pent t Pe eee ea) Deen fai CT EI Pe iCuTs ” o Cy oO (o) pe ae Nee Recs Pelee ce CU koe Pee te) Prue Acie! mail Pore mC 7) rei iccias liability) Create invoice for Burau a 49Bankrupt the Bureaus Step One: Finding Violations Step Two: Drafting Affidavit of Truth ‘There are six parts of an Affidavit of Truth: 1. The Title (Affidavit of Truth) 2,, Statement of Identity, Who are you? 3. Statement of Fact 4, Facts 5, Penalty of Peshiry 6. Notary Seal/ Signature Look over the graph below then scan the QR code to gain more clarity on how to draftan Affidavit of Truth.Racy Affidavit of Truth 6 PARTS OF AN AFFIDAVIT LS ey a aS LA signature Notary Presentment See ieee V Umar Clark & Muhammed Clark Sinn acca Facts ely aos Perjury— Bankrupt the Bureaus CFPB What's Next?Umar Clark & Muhammed Clark Thank You I want to sincerely thank you from the deepest depths of my heart for supporting our mission. We pray it is of benefit to you and yours, and we pray you have success in all that you do. #DoForSelf 53 |ee ee ee Bankrupt the Bureaus Extra- Extra Resource-‘Umar Clark & Muhammed Clark Resources- 15 usc 1601 (‘Truth In Lending)- https://wwwlaw.cornell.edu/uscode/text/15/1601 15 usc 1681 (Fair Credit Reporting Act)- htrps://wwwlaw.cornell.edu/uscode/text/15/1681 15 usc 6802 (Graham Leach Bailey Act)- heps://wwwlaw.cornell.edu/uscode/text/15/6802 15 usc 1691 ( Equal Credit Opportunity Act)- hueps://www.law.cornell.edu/uscode/text/ 15/1691 CEPB/ Consumer Financial Protection Bureau- hreps://www.consumerfinance.gov Reportfraud.ftc.gov- heeps://reportfraud.ftc. gov/#/ OCC (Office Of Comptroller Of The Currency)- hetps://www.occ.treas.gov/