North Las Vegas man slapped with $28 million mistake
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- Опубликовано: 14 окт 2024
- Mistakes happen. But it's a major inaccuracy by a credit card company that recently hurt one Las Vegas family. 13 Action News anchor Tricia Kean has more on credit reporting problems and how to fix them.
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When the bank deposits millions into an account it’s an error. But when you owe money they can’t help you
My favorite is when the teller accidentally gives me 500 when i ask for 50. then the bank calls and asks for it back. I say "You've never played Monopoly? 'Bank error in YOUR favor, collect $500'"
@@acougarscub I wouldn't even tell them that id just say you didn't give me 500 you gave me 50 that way there's no proof they did and you don't have to give it back or they take it out of your account
Not only is it an error, but it's illegal for you to try to keep that money.
@@rustler08 well they can file a claim with my office, and I will try to respond to it in 30 days. if i dont. i may or may not have stolen it. they can contact the head office for more info.
No truer words ever typed.
Why should the victim be responsible for fixing someone’s else’s stupid mistake. This is a joke
credit negligence is actually his fault. It’s crazy but you have to monitor your credit on a monthly basis. If you have major credit cards like chase, citibank, bofa they offer the credit alerts and reports for free. Actually I don’t know what i’d do without this new tool. I think it’s a requirement passed after the credit housing crash that credit card companies offer the service.
@@DxModel219 No, No it isn't. Those credit companies made a massive mistake and are potentially ruining his life. People like you make me sick.
acougarscub you got some anger issues
@@DxModel219 And you have a "Bend over and take it" issue.
If *I* make a mistake, it's *YOUR* fault to fix?
He he he. Time to get busy.
Time Surfer thats life
This should be lawsuit-worthy. These people make decisions that impact your life, and caused this man unfair suffering.
agreed, they could have lost the home they were looking at (if they didn't already lose it). Home shopping sucks.
Why not name and shame the bank that reported this false information?
Cause they'll sue!
countersue for slappp
Was it bank of America they such!!!
Because the bank runs commercials on at least one of Disney's networks and the news is not allowed to say anything bad about a sponsor.
@@brandonlink6568 true dat.
How come they never accidentally give anyone a 800 credit score?
I doubt people in that situation would report it lol.
Because one thing can instantly screw you but it takes a bunch of stuff and a lot of time to boost your rating
Man I got nearly an 800 and no idea how, but Im not contacting anyone to ask why.
i see the problem here, you actually think "credit scores" actually matter..... LOL. they dont.
@@orion7741 There one morgage lender that will loan without a credit score but they require a bunch of documents, Dave Ramsey has mentioned it a few times. Desidses getting a home yeah, credit scores dont mater. Don't live in debt people.
Similar here, but 10k.i sued EVERYONE 7 defendants, it was glorious watching them blame each other in front of the judge.
Won, 4k.
VIVA EL PRESIDENTE'
Nice
The credit companies mixed my dad's credit history into mine and it took YEARS to get it fixed. The credit bureaus, and credit scores, are a scam.
I had the same issue. I was trying to get my life straight years back and after looking into my credit report found more than one issue that belonged to my dad. I filed discrepancy claims and they were fixed. Two years later I check it out and one of my dad's issues showed up from two of three reporting agencies. Again I filed a discrepancy and Experian fixed it. Trans Union on the other hand insisted it was mine and that I was lying to help my credit score.
I called and spoke to a CSR and he was the biggest POS on the face of the planet. At first he was like well our report says its yours. I told them all the pertinent information to prove it wasn't and gave them the necessary info to prove it was my dad's. The guy then accused my dad of opening an account in my name, which I went ballistic over in the first place, and then asked how he could open it in my name when the information doesn't match, and he basically said oh well.
@@brianm6117 The best part was trying to answer the "security" questions about my credit and payment history in order to prove it was me. Of course I couldn't answer the questions as they were not my history. The Social Security Admin uses the same security feature and it is provided by Experion. Of course SSA said only Experion could fix it and Experion said only SSA could fix it. And just when I think it is fixed it seems to reset and start all over again. Oh yeah, my dad has been dead for over 10 years.
My credit information was lumped in with my deceased Grandmothers social security number all her debt was on my account such bullshit all a corrupt scam.
Yes they are.
I had a problem like this where my bank screwed up.... When they fix their mistake my credit score was off by 400 points.... They told me they couldn't do anything about it... I went to file the dispute but the credit bureau told me that the bank needs to file that dispute because of their mistake but the bank refused.... 2 years later my credit score started to finally go up
Same as the Casino never comes out and tells losing players: "Wait, the machine malfunctioned, you were supposed to win" Never. Not Once.
The House always wins….
The worst part is, regaurdless of this being a mistake or not... his credit score will never be brought back to where it was before the mistake. Even though it was "removed from his record" the damages done to his score are going to take him YEARS to recover from... which is BS and should be instantly reversed.
It's a lot of work but credit scores can be rectified.
@@jamsaidemelo1367 that's my point... it SHOULDNT take a lot of work to rectify, he didn't screw it up, he didn't cause the problem. The problem was with the credit agency not him, and so his score should be instantly restored to where it was before they screwed up.
@@Culvey Exactly. And when it comes to things that are “out of their control” it’s really about someone which the smarts and know-how to jump into the system, crunch some numbers, and change it back to what it was. They act like there’s some all-powerful diety who makes these rules and numbers.
When a bank gives you money by "accident" the problem is fixed in hours. When they say you owe, it this huge ordeal to get it fixed and you are almost always blamed and required to jump through so many hoops.
Sounds like he should sue…. Someone messed up. Not by a few hundred bucks. But by millions. Sue them for the same amount.
And given the current housing bubble, prices going up thousands every week, this delaying him from buying a house when he planned did real, tangible financial damage, as well as undue mental and emotional hardship. At minimum whoever is found at fault owns him 10 - 20K plus attorney fees. If they all want to fingerprint and not get to the bottom of who's fault it is, they should all be liable. Take the credit bureaus and the issuing bank to court and watch them fight it out.
"You're using 111,063% of your credit limit" Wow
I want to just use 1,000% of my limit, lucky guy
@@chuckbrooks7489 Debt sucks. Using 100% screws your score, 1000% would tank your utilization rate big time. 111,063% can bring your utilization score to drop, tanking your score in to the negative. This is a really bad thing
When I applied for my first home loan. I hit a road block with a credit card I never owned. A Visa that had an overdue balance of .16. Yeah, 16 cents. It had to be paid for me to get the home loan. Then the credit card company would not allow me to pay it off. Because the account was not mine. I had to get a financial lawyer involved in order to fix it. All for 16 cents.
I am suprised they didn't add fees of $35 per month and interest.
Anyone else think it was the Car Wizard? Lol I know he lives in Kansas and not Vegas but still the resemblance is uncanny.
This is the comment I was looking for
I thought the exact same thing. He's a twin.
It's his long lost twin brother.
Haha, me too.
Yea very similar and uncanny like you say. Also car wizard does actually have a brother who is a doctor
It’s my responsibility to fix THEIR mistake?? And it’s my responsibility to tell the bank if they put too much money in my account.
Why is the individual always held accountable and responsible for business mistakes??
And the crazy part is if a business gets too much money from someone they don’t have to say a thing. And after a certain time the money is legally theirs. So let’s say you send a furniture company, or gas company too much money they can keep it after a while if nobody claims it.
@@Happy_life0000 that’s messed up
It is a crime that the credit bureaus have all control over your life and what class you live it.
I love how he says “simply”. It’s not that simple when time is not on your side.
Yeah did you ever notice how it the people it's not happening to are so damn calm. Aggravating isn't it?.
It’s like they fail to put themselves in the victim’s shoes!
Amazed he was able to get any Credit Bureau on the phone next to impossible
There's the kicker.... "The law requires the loser to pay the attorney fees".
Credit is the tool of the devil.
I have lived a middle class life with all the amenities (house/car/vacations/ "toys")and have never used credit, I am 63 years old.
I checked my credit score and it is 40, it said I was overdue and in default, I have never had or used credit. . . ever.
you may "think" you have no debt, but as we are a "Debt based currency" every dollar you think you have, is attached to someones DEBT.....So thank you for allowing us to abuse YOUR money!
A law needs to be passed where the credit card companies are more responsible for their Mess Up And pay a penalty To the victim 15 to 30% bonus
A bonus is not enough. If it's a small amount, then it's a small bonus. But the amount doesn't matter; a $28M credit error has the same effect as a $0.28 credit error. A misreported debt of pennies can still greatly reduce a credit score and have massive impacts on the consumer's ability to borrow. So a flat percentage is not an equitable solution in this case; the damages are not strictly related to the claim value.
Better suggestion: "The Millionaire Victim Rule". Any victim able to demonstrate fraudulent reporting is fully entitled to a $500k payout from each participating reporting agency and a $500k payout from the fraudulent creditor. People that get screwed are unilaterally made whole and companies that screw up have a tall financial incentive to get it together. Suddenly BofA's shady techniques would be a lot less attractive and Equifax's lazy data practices would be a massive liability to their bottom line.
Send both the Credit Card company and the Credit Bureau a bill for $600/hr minimum of 10 hours for your work on fixing their messed up crap.
They slipped up and showed how the matrix works. Wow! Thank you Powers That Be or... The accountants with sloppy work ethics.
I would've pulled my hair off, He is so humble about this whole situation. I pray he finds a beautiful home for his family. It's a struggle but after sometime it's all worth it.
it got scared in jumped off.
We need to change the law and make credit companies liable for mistakes made by the system.
I feel really really and really bad for you and I hope everything is well with you sir 🙏. Keep praying 24/7 sir. I'm TOTALLY Glad you fixed your Credit Report and you are taking legal action.
It's scaring me too DEATH.
Excellent Job North Las Vegas Nevada Man.
Why is it scaring you to death?
They whole credit system needs to be overhauled. Also they need to have it where when errors are fixed your score goes back to the way it would be if the error was never on the report.
Will never work when 85% of the adult population in the US is either in debt or near broke
@@marcgonzalez9920 and that is kinda funny since America has more million/billionaires than any other country in the world shows you how corrupt you have to be to become and stay a millionaire/billionaire lol ridiculous but life has always been ridiculous 😂
those credit bureaus need to be dismantled
Imagine waking up to $27 million in debt debt...... bc someone else’s mistake....
How about when you pay off 15k of debt and your credit score GOES DOWN 35 points. That's fun.
😞oh WOW r u serious, I mean damn dude that's crazy
Absolutely true ... Just paid off the last $7k on my car loan and my credit dumped down 25 point 😡
Paying off a loan early is credit rating death.
Creditors don't want early payments, they want ever dime of interest.
I have a bad credit rating just because I never used credit, ever.
True Story. The minute I paid off my final school loan, my credit score tanked. It immediately flew off my credit history and suddenly my credit history was "too young" as I had "no debts or accounts older than 2 years". And suddenly I was a credit risk because I had no proof of regular on time payments. Total BS.
I’am in that situation now. 🤣🤣
Wow, talk about getting caught up in red tape. The US really goes out of their way to make things difficult for its citizens. In my country, you just walk in to the bank or call customer service toll free lines and bingo, it gets solved. Seriously, writing letters in this day and age?
In the US if you call you just might reach Customer service in India
@@MrAeronca100 true
The minute they both laid blame on each other he should have just said alright I'll see y'all in court and I'll be going after the $28 million. They would have fixed the problem right there
I'll be suing you for $28M and this guy can be my witness, and I'll be suing him for $28M and you can be my witness against him.
Sue the credit bureau for defamation.
Remember, it's always your right to get screwed over by big business!! Then you have to come up with tens of thousands of dollars to hire a lawyer to sue these bad actors! Sounds like a good deal to me!!
should be law that 30 days before a credit bureau or bank can lower a score the individual must be officially notified to disprove charges
I bet if he had filed a lawsuit against both companies things would have got fixed with the culprit being named
If paying off your debts and home lower your credit score, which they do; the whole system is corrupt.
That's because the monetary system relies on debt for growth. There is always more debt in circulation than currency.
Because they want you to keep making those interest payments.
@@MichaelClark-uw7ex I hear it but it made me sick. The system doesnt reward paid debt
@@scootchieandboo7475 That's right. The only reason you pay off debt in the current system is to then be in the position to take on more. Take a look at how money is created and by whom, and you'll understand.
I gave up a long time ago. Identity thefts and incredible medical Bill's are just the tip. How about a lawyer who stole everything, or a child who takes your processions and sells them? Or being robbed on your wedding day by the Maid if Honor? Trust me I have been through it all.
Wow, sorry to hear that.
The system is a joke. If you have a heathy credit"score" just using 1-2$k can change your scores draskly. I thinking it's being done due to people during the situation to conduct credit score blackmail. And.. Why is there no consistency between the big three.
Credit scores should be illegal.
I was waiting for Hoovie to come in and say weeeeeezard.
the credit system is stupid
"These mistakes happen, but it's your responsibility to fix it"
WHAT?!
My bank called me about odd purchases on my card.
They fixed it right away.
Companies are liable 100% for damage to a persons professional reputation. Sue, sue, and sue again.
That answer seems sensible but kind of overlooks a little problem here. Credit reporting agencies have massive control over consumers' ability to purchase things... like lawyers. It's a solution that works only if you can afford the problem in the first place.
I have a mistake on my credit report, someone says I owe the piggly wiggle almost $300, this debt was made when I was 12 years old at a piggly wiggly that was 2 states away.
Mike hit the casino one night and forgot to tell his wife
This is the kind of thing that makes me not want to get into it with bank's and credit bureaus.
this is why I pull full reports every year and I monitor the free ones provided by my credit cards and bank. A couple things in the past took a couple times to dispute before they fixed it.
16mil you'd have corresponding assets. If you're renting in LV it's a massive mistake
This is one of the reasons why credit bureaus need to be abolished. Credit bureaus have been playing God and at least for now, have a government agency scrutinize them. This monopoly needs to be checked and eventually stopped.
Last time I went to buy my new truck the credit report said I was dead. I went through hell with the IRS to convince them I was alive and had a full-time job. This took over a year to fix.
When corresponding with any entity, send it certified mail, return receipt requested.
Just file a lawsuit with all the credit bureaus showing these balances and let's see how long it takes them to correct this obvious mistake.
Don't use debt. Then you don't have to worry about credit mistakes.
Until you get a call from collection companies saying that you owe debt to such and such companies. Happens to people everyday who don't use credit. Instead their identities are stolen and credit charges are racked up on their behalf. You should always check your credit regardless if you use it or not.
Can we all just finally admit that credit bureaus are a scam?
The way she is talking is painful .
Their is a single person programmer that handles the generation of that data to goes to all the major credit bureaus. You need to find the person who oversees the daily computer processing for that credit card company. That person along with the programmer as well as the credit card "account clearing house" AND lock box departments are all the people who need to involved to get this resolved.
There's a deadbeat in Virginia who has almost the same name as me and the same DOB. About once a year on average I have to dispute some cable bill or phone bill or dentist bill this guy didn't pay and it takes hours and months to get it off your report. The whole system is screwed up. The burden of proof should be on whomever is reporting something to prove it's true not the consumer to prove it's not.
Send a vague letter and state they have 31 days to fix, then SUE!!! SUE!!! SUE!!! For MILLIONS!!!
So, the idiots at the credit bureaus screw up and it is someone else's responsibility to fix. Wow!
I had to go through this exact thing for 7 years
ITS HELL
You gotta admit though it was kind of funny seeing "You are using 118,000% of your credit limit" lol
Love the Lawyer saying "Simply", sorry but those of us that have been through this know it's anything but simple and it takes a long time to get things straight
Totally so so and so sorry sir!
You literally cannot have a responsibility to fix someone else's mistake. Responsibility would be an entirely meaningless concepts if that were the case.
Simply sending a letter? According to my Credit Card company your report of an error on your credit card MUST be in writing! If you call they don't have to investigate or take any action based on your call! At least that is what the letter I got today from my Credit card company.
If the bank made the error then they should have do whatever it takes to get your credit score back up to what it was before the mistake. If this means writing off a portion of your real debt, then it should be done.
Maybe when these mistakes cost the credit bureaus or banks actual money, then they will be more vigilant in doing their jobs in reporting accurate information
And this is exactly why I always pay cash and never have opened or had a credit card.
Me too. 55 years old and have always used cash.
Simple way to fix this. Take the existing law that requires the credit agencies to pay your legal expenses when you sue and win, and add to that that they pay you directly triple those legal fees as damages.
Can't believe the person is responsible for someone else's mistake.Cant believe people have to be so proactive for something you have no.idea what its about!
"OOp! There is a mistake! Buuuut do it yourself! Cause we won't check or initially help you!"
I'm just really impressed that very useful information was provided in this video.
The credit bureaus need to be sued for violating antitrust laws.
Someone opened predatory financing around Christmas on wayfair in my name twice for over $4,000 and I got stuck with both of them because the packages were sent to a rental property I used to live at…it would cost way more to pursue litigation and not worth the time and stress. It’s ridiculous.
This crap happen to me on a smaller scale...a cable company said I owned payedment on my last bill..which I did pay..I kept the receite...but they still sent it to collects..I'm credit score went from 804 to 620...I filed a dispute..but I still get calls from collections...the amount that they say i own is not the same amount of my old monthly payment....V..its a shake down.
All you have to do is dispute it. They pull it immediately. Do an investigation then either leave it off or put it back on depending on what they find. Why is this being reported on?
How could this happened? Insane .they create problem us normal people have to fix so companies don't have to.
Your credit score is not based on how financially responsible you are, but based on how much banks can make money off of you.
Right at the end 2:51, it showed he was using over 1 million percent of his credit availability. I recently read mine and it showed 9 %.
His big mistake was calling. To preserve his rights, he needs to file a written dispute. The credit bureaus will research it. If they find he actually owes $28 million on his credit card, where his monthly minimum payment is $78 (totally nonsensical), they'll send him a response that they verified that. Anyway, such huge mistakes shouldn't require proof from the credit card holder, but again, he needs to dispute this in writing. Contrary to what the reporter said, nobody is "accusing him" of owing $28 million. If true, you got to tell me the bank. I'll gladly take out a $28 million dollar cash advance with only a $78 monthly payment. I'll be set for life. Who needs a mortgage, or even a job, with that cash flow. ;)
Thats a nice leverage for that collateral XD
You can't complain about the customer service at this credit reporting agency,
because there isn't any.
My wife’s credit got hit 3 different times showing no payment for 3 months on our home.
All 3 times we contacted all 3 reporting agencies and our home loan company and we sent in everything requested showing proof. And both sides pointed fingers at each other.
3 times it happens.
3 times we contacted them.
3 times we disputed it.
Each time it was removed and a few months later it was put back on her credit.
As of right now, it’s on her credit and still showing delinquent and it’s not true.
I will show her this and maybe we can get an attorney to represent us.
He's still wrecked because his credit score is now damaged.
That’s just insane that he has to suffer because of an obvious error that he’s forced to do the work in correcting. Should be a simpler process to reverse the adverse effects of an obvious reporting error.
My stepfather told his lawyer to write two words into his will that my mom could live there until she died but there is nothing she can do about it and she has paid on the property for 3 plus years and mantained it as well. She also has paid his bills off and his daughter hasn't followed the will. She got over 100,000 dollars and refuses to pay his other debt. I think they shouldn't have credit scores. It's sad that people or organizations won't admit when they're wrong but they expect people to admit. It's all about greed.
????? read your own post and then think. you post is confusing as to what is what. use sentences.
IMO the only way to get the attention of the Credit Bureau is with a Lawsuit. I detest what our legal system has become but in instances such as this...the guy need to sue them. The Credit Bureaus are basically spreading libelous information about this guy. IF what the Bureaus is doing is completely within the law...the legislature needs to create a new law.
It's too easy for organizations to tag your 'account' with erroneous information...
That's messed up, and just like identity theft, you have too prove It! I would say that you should be also allowed for punitive damages. Best of luck and keep up the faith, amen.
The number one reason why I don't use credit cards.
They told my, dad, in the 90's....he owed the gov....for a onsite fishing fleet he had ! We lived in Las Vegas! Where lake mead ! Lol.
It's a mistake. A mistake that unfortunately you're responsible to take care of.
It seems to be the "modo" of companys today that if they make the mistake, you are left to fix it.... Your not paid to fix there mistakes! This should always be done by the company who made it! Sick of our Capitalistic system we live in where big BIZ just isnt held responsible for anything they do wrong! this shit is a joke
Jeez... this is terrible.
I hope it gets resolved. I know on CreditKarma, you can dispute directly through the website itself.
Sue them!!!
Four extra zeroes? Possibly a human interface problem. Someone's cat walked on the keyboard while they were working from home. Allegedly!
Ain't that something, they say it's your responsibility to fix their mess up
Oh, tell me again about the free annual credit report. The one where you provide them all the info they ask for and they don't send it?
Am I the only one who thought it was the Car Wizard in the thumbnail??
Can’t the consumer sue credit bureaus?
So...still you are required to fix someone else's mistake. *You* have to write the letter, *You* have to wait 30 days, *You* have to hire a lawyer, *You* have to win the case, and then the loser, which could be *you* , have to pay attorney fees. Then *You* have to wait until the credit score accurately reflects, even though *THEY* caused the problem. Even being "hyper vigilant" causes a problem, because you can only legally get your credit report once a year for free (it's different for right now, but next year it's going right back to that system.) Therefore *YOU* will have to spend money to make sure someone else is doing their job.