How To Delete Anything From Your Consumer Report with Daraine Delevante: An EOFire Classic from 2022

0:01Boom! Shake the room, Fire Nation. JLD here and welcome to Entrepreneurs on Fire, brought to you by High Level Level, the all-in-one sales and marketing. platform. On today's classic episode, we'll be breaking down how to delete anything from your consumer report. To drop these vibe bombs, I have brought Doreen Delevante into EO Fire Studios. Doreen got into credit repair because he saw there was a need for consumer education and for consumers to understand the power of credit. In today's foundation, we'll talk about how mentorship is a shortcut to success and how credit is the most beautiful thing ever created and oh so much more.

0:36And a big thank you for sponsoring today's episode goes to Doreen and our sponsors. Franocity has helped hundreds of people leave unfulfilling jobs, invest in recession-resilient businesses, and create legacy income for their families through franchising. Get started today with Franocity's Franchise Funding Guide, packed with real-world strategies to launch your business without draining your savings. Visit Franocity.com. That's F-R-A-N-O-C-I-T-Y dot com. Are you ready for the ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies, build funnels, automate follow-ups, manage clients, and even white label your own software.

1:17Say hello to our featured partner, High Level, and visit highlevelfire.com to start your free trial today. Doreen, say what's up to Fire Nation and share something that you believe about becoming successful that most people disagree with? What's going on, Fire Nation? It is your favorite consumer law expert here, Doreen Delevante. And listen, John is going to give y 'all some sauce today. Y 'all never even thought was possible with consumer law. All right. About the first question. Could you repeat the first question again? Share something that you believe about becoming successful that most people disagree with.

2:04The ability to unlearn and relearn. So a lot of times we think we know stuff about, for example, credit, right, which is my specialty. People think they know about credit because, you know, their mom told them about credit. They learned a little bit of this, a little bit of that. But how many people actually take the time to read the consumer laws that govern credit itself? So when you think you, you know, I'm going to pay this bill here, I should keep it at 30 percent, I should live below my mean, only put gas on the credit cards or only put groceries, that is so, so far from the truth. And when we are humble, when we humble ourselves to say, you know, maybe this information isn't correct, because if the wealthiest people in the world fund their whole investments off of credit and debt, maybe somewhere along the line we got the information wrong.

3:08So are we now in a position where are we humble enough to unlearn, put away the ego, the things that we thought we knew to comprehend the real truth about what's actually going on and why people like John, you're able to scale your business. People like Doreen, you're able to scale with no money out of pocket, all off of credit. I know that was a long answer. It's a thought process that you have to go through. Fire Nation, there is power in knowledge. And Doreen is an example of a person who has taken the time, the energy, the bandwidth to gain knowledge in a very important area. That's why this whole topic that we're going through today is how to delete anything from your consumer report, which is otherwise known as your credit report.

3:58How realistic, Doreen, is it to delete any account from your consumer reports? Break it down for us. It is the easiest thing you can ever think of. All right. John, how many people do you know that have an 800 credit score? Just you. My other question is, how many people do you know build an 800 out three times in one year? Just you. The point that I'm getting at, it is so easy once you have the right information. It's all about the things that you don't know that you don't know. And when you do know these things, you are able to play this game of credit like chess. And I want to talk about not the second best way, but the best way to opt out of having our information reported to the consumer reporting agencies like your home, your auto, your credit cards.

4:50I mean, I feel like there's just a way that we go about it and there's the best way, the Doreen way. Can you talk to us about this? So the Doreen way is actually the best way because we're using straight laws, straight facts. So do you have your cell phone beside you? I do. I don't want people to think Doreen's over here making stuff up. All right. So I want you to go in Google, right? And I want you to type in 15 USC, 15 USC 6802. Done. I got it right here. Yeah, we're going to set this place on fire right now. I'm going to read A for me. A, notice requirements. Except as otherwise provided in this subchapter, a financial institution may not directly or through any affiliate disclose to a non-affiliated third party any non-public information unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title.

5:49Tell me what you got from that first before I break this down. That they need my permission. Not only do they need your permission, they're supposed to give you disclosures before that can even happen. Right. So Congress is saying, except as otherwise provided in the subchapter, a financial institution, no Bank of America, Wells Fargo, none of them. Right. They may not directly through any affiliate disclose to a non-affiliated third party. So let's say Lightstream, right? Lightstream owns this bank called SunTrust, or maybe it's the other way around. SunTrust owns Lightstream. They are affiliated.

6:30You get what I'm saying? But a non-affiliated third party would be the consumer reporting agencies. So Lightstream can share information between them and SunTrust, but a non-affiliated third party, aka the consumer reporting agencies, which people call credit bureaus, and I want people to know there is no such thing as a credit bureau, right? Any non-public information, unless such financial institution provides or has provided to the consumer a notice, you must get a notice that complies with Section 6803 of this title. But the meat and potatoes, let's get into the meat and potatoes. The law says this, right?

7:14Opt out. In general, a financial institution may not disclose non-public information to a non-affiliated third party unless. So Congress is saying that this financial institution cannot disclose any personal, any non-public information to a consumer reporting agency because they are non-affiliated third party unless all three things are done, A, B, C. So the first thing Congress says that needs to happen is such financial institution clearly and conspicuously disclose to the consumer, you and I, in writing by mail or electronic form. You know, when they give you their terms and agreement, that's the electronic form.

8:07Or are the forms permitted by the regulations prescribed under Section 6804 of this title that such information may be disclosed to such third party? So they need to tell you and disclose to you that, hey, we may disclose your information to a non-affiliated third party, a.k.a. the Consumer Reporting Agency. But there's a semicolon, meaning it continues, right? So B says the consumer is given the opportunity before the time. The time that they're talking about is when it's going to get reported. So before it gets reported, the consumer must be given the opportunity beforehand, right? Before the time that such information is initially disclosed.

8:58So they have to give you these disclosures to direct that such information not be disclosed to such third party. So what Congress is saying in B is that they need to give you the opportunity to say, no, I don't want my information reported before it gets reported. So you as the consumer are given that opportunity to have you to direct that such information, your information, not be disclosed to such a third party. So they need to tell you, and this now gives you informed consent where you can say, okay, let it report or let it not report. That's the second disclosure. And then Congress says semicolon and.

9:46So you see, if that was a semicolon and then or, it means that they could do A, B, or C. But it's a semicolon and an and. And means the next thing that comes and everything above it. So what Congress says now in C, the consumer is given an explanation of how the consumer can exercise that non-disclosure option. So Congress is saying in C that they are given an explanation how you can exercise your non-disclosure, which is what B spoke about. All these three things must be done before your information gets reported to a non-affiliated third party, a.k.a. the consumer reporting agency. So let me ask you something, John.

10:39Yeah. You have a car, right? I do. Okay. Did you get any of these three disclosures? None. You see where I'm getting at? I am. I'm not making this stuff up. This is law. It's right there on your phone. You're reading it. But you see, when you don't know the things that you don't know, this is how these corporations take advantage of you. So with me knowing this, and I'm going to write them and I'm going to tell them, listen, A, B, and C, according to 15 U.S.C. 6802, you are supposed to give me certain disclosures. And I am exercising my right as per 15 U.S.C. 6802. B, B, I am excising my right to not have my information reported.

11:22So if they're going to say no, they might do a rebuttal and say, well, the information that we're reporting is accurate. Okay, show me where you gave me all three disclosures that are required by law, because this is the Gramm-Leach-Bailey Act, by law, where you should have disclosed A, B, and C to me before my information got reported. Show me the disclosures where you disclose all three and I acknowledge all three. Show me. It's not what you know, it's what you can prove. Fire Nation, I hope you're really understanding this core concept here where knowledge is power. And that's what Doreen is doing right now.

12:01He is gifting you. He is giving you. He is handing you knowledge that is giving you power. And we have so much more to talk about on this subject when we get back from thanking our sponsors. Okay. Let's talk about a platform that's completely changing how entrepreneurs are running their business, and they are also our featured partner, HighLevel. If you're an entrepreneur, coach, agency, or course creator looking to grow faster and smarter, HighLevel is the all-in-one platform that replaces your entire tech stack. Seriously, think ClickFunnels, Calendly, MailChimp, Kajabi, and even your CRM all rolled up into one powerful white label solution.

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14:21And Franocity just doesn't help you pick a franchise. They help you understand the business model, investment risk, scalability, and operational reality. Get started today with Franocity's franchise funding guide, packed with real world strategies to launch your business without draining your savings. Visit Franocity.com, that's F-R-A-N-O-C-I-T-Y.com to download your free franchise funding guide today. Doreen, we're back and I want to really keep pushing down this path because there are signals that tell us when we are on to something. How do we know if we're on the right track when we are disputing these negative items from our consumer reports?

14:59Mentorship is the shortcut to success. and there's a lot of people that's going to, there's nothing wrong with doing it yourself because what I teach and what I mentor is do for self. However, it's either going to cost you time or it's going to cost you money. So it's either you're going to use the time required to go research and learn this stuff or you tap into a mentor like me where these things are already packaged and we're going over these every Sunday. Every Sunday in the mentorship, we have a Zoom call where we break down the language. See, John, our people perish because of lack of information.

15:41And it's because of lack of information they don't know the power that they possess. Think about you've seen Superman. Yeah. What if, right, they were all on Krypton and Superman never got exposed to the yellow sun? He would have never known his full potential because Krypton had a red sun. The red sun takes away the power that Superman gets from the yellow sun. So it's like that. Your potential is there. It's locked up. And if you don't know the things you don't know, you cannot gain the information you need to set yourself free to change your credit and your finances. This information, it's called consumer law.

16:29It is made for you, the consumer. And I'm not sure where the disconnect was where people think that consumer law refers to only lawyers. It does not. It speaks about you, the consumer. It is yours. Take your power back. Wow, Fire Nation, this is powerful stuff when you take your power back. And I want to turn the spotlight back on you, Doreen, because you obviously kind of took us through, you know, this Cornell information, but we read section A, section B, section C. Beyond that, how did you learn about consumer laws? Like, where did you go? Who did you talk to? Who mentored you? Have you ever been denied for anything?

17:15No. So you see, when you get denied for stuff, your next thought process is, okay, I don't want to get denied anymore. So it was a situation where, John, enough was enough. I was tired of being denied. They told me that I needed a cosigner. I'm not qualified. my interest. Listen, I got my first vehicle was a 2007 Nissan Altima, 75 ,000 miles, right? I needed a cosigner, but not only that. You want to guess what my interest rate was? Oh, I'm scared to. 18.99%. I was paying$590 for a used 2007 Nissan Altima. My insurance was 300 together i was paying close to 800 a month in note and insurance for a used 2007 nissan altima enough was enough like when you're at that point john you you have to decide like am i really going to be ignorant to what really makes this country great and makes this country work and that was the tipping point for me.

18:33So I started seeking mentorship. I joined a mentorship with Marcus Barney, aka Him500, the recession proof. I'm not sure if you know who Marcus is or Him500 is, or the recession proof mentorship, but I joined it and I got exposed to people like me who are looking this information, who are hungry to change their finances. And then one night on a training call, I got introduced to this guy called Umar from the Bureau Bullies. Shout out to Umar because Umar changed the way I thought about things. And Umar was speaking that consumer law game. And I said, this is what I've been looking for. So I detached from everything and I went straight study mode.

19:23And when the student is ready, the mentors will appear. And then I started getting mentor from people in the industry, in the banking, the finance, the auto. And they were like, you are onto something. You need to look at this. You need to look at this. You need to read this law. You need to read this law. And I started putting my education together. And John, I got deployed. I'm in the military and I got deployed in 2020. I was in Kuwait. I read 140 books in kuwait one four zero right business credit finances that's the only thing i was averaging five to six books a month when i came back from kuwait i built my first 800 credit score in kuwait not in america i was overseas so when i hear people say they don't have the time or i'd say That's an excuse.

20:26I built my first 800 not even being in the country. Then I build it out two times after that within the same year because I leverage my credit so I can have bigger lines. I have my Amex is the gold, the platinum, the plum, no preset spending limit. I can run up a bag. Credit changed my whole life. John, how long will it take for you to save up$50 ,000? Just say if you were a regular working a nine-to-five. Years. I can get approved for$50 ,000 in 24 hours. Wow. That's the power of credit. Wow. So what I did, I have that high-limit credit card, John. I put it in a JOR emergency. That's my emergency card.

21:16It has a$25 ,000 line of credit on there. I don't need to save that up. So this is where I'm going. Credit is one of the most, it is the most beautiful thing ever created. Whoever came up with the concept was a brilliant person. I don't have to use none of my own money, John. For your business, you can fund your entire operation off of credit. No money out of pocket. All you got to do is fix your credit. How simple is that? Fire Nation, I hope you're realizing the power of mentorship, the power of learning, the power of educating yourself. I mean, 140 books. I mean, that's something that Doreen did.

22:00Well, by the way, his other buddies in Kuwait were probably playing poker. Yep, they were. They were playing poker. They were smoking hookah. Right. They were working out. Some were fraternizing. Some were at the pool. Now, I just stayed in my room. That's it. And I read. And I educated myself. And you learned, Doreen. You learned. And so that's what I want to ask next. Where can Fire Nation go to learn more from you? Doreindelevante.com, right? If you go onto my website, you'll see my website, you'll see all my product. You have an opportunity to join my mentorship. But not only that, if you go on YouTube, you can find me.

22:40Instagram, you can find me at V-T-H-E underscore credit underscore hero. So if you type in The Credit Hero on Instagram, you'll find me. If you type in Doreen Delevante, you'll also find me. Facebook, Doreen Delevante. But John, I've been working on something special for your audience. So let me know before we go if you want me to give it to them. Right now, brother. So three of my e-books. So Do For Self, The Educated Consumer's Guide to Repairing Your Own Credit. That e-book is valid at$167. It teaches you how to repair, rebuild, and restore your own credit. And it's going to teach you what a proper profile looks like, how to read a consumer report, how to structure your profile, and how to get negative items deleted.

23:35Then I have the Do For Self, a lender's guide to getting your own approvals. That e-book is a$300 e-book. And basically what that e-book teaches you, it teaches you what banks pull from what, what financial institution pull from what consumer reporting agency and what minimum credit score is needed. So it's basically a cheat sheet. So if you're going to run a credit card sequence where you can get anywhere from$50 ,000 to$150 ,000 worth of credit off for just three inquiries from each consumer reporting agency, this is what that is for. So we call it running a sequence where you run them simultaneously and you're able to obtain anywhere from 50 to$150 ,000 worth of credit.

24:26And then I have the because the biggest thing now is a lot of people that I know filed bankruptcy. So I made a do for self guide to deleting your own bankruptcy. All three e-books, John, are valued at$1 ,040. And for you, I had my team prepare a special link where Fire Nation can get this for$47, just three e-books. All three, you'll get it because I believe the people need to know this information. It's not about the money for me. I am good with or without a purchase. But John, I know what it was like having to pay that 18.90 interest rate. I know what it's like being denied. What if I even told you, John, that late payments are illegal?

25:21Like, do you really want me to get turned up here? Because I can get turned up. I can get turned up where I will, everything you think you knew about credit, I can change that and I can also prove it. Well, let's wait for you to get turned up until Fire Nation reaches out to you, gets the stuff that you're so kindly offering at such an amazing value. Because my audience does understand the fact that they're the average of the five people they spend the most time with. And Fire Nation, you've been hanging out with DD and JLD today. So keep up that heat. And if you want to learn all the stuff we talked about here today, links to everything, head over to eofire.com, type D-A-R-A-I-N-E in the search bar.

26:07The show notes page will pop up. And one more time, D-A-R-A-N, give us your direct call to action for our listeners for that special call to action you have for us. Yeah, so what I'm going to do, John, I'm going to send you a link with all my social media handles so they can find me on our platforms and a link for the$47 ebook series purchase. and they will be able to start their journey. And if later on they decide that, you know, they want to be a part of my mentorship, all they got to do is send me an email. Because guess what? You don't know the things you don't know. And the things that you don't know are the things that's going to separate you from everybody else.

26:44John, when I learned the things that I didn't know, I became unstoppable. Right now, right, right now, I'm in a position where I am just waiting for some negative items to go on my credit report. When I tell people, they look at me like I'm crazy. Right. I am waiting for late payments. I am waiting for derogatories. Why, John? Because I know that a late payment is illegal by law. It's not supposed to be there. And I can prove it. Fire Nation, you are the average of those five people you spend the most time with. Obviously, DD would be one of those people if you're experiencing those things that he's been talking about here today.

27:28So, Doreen, thank you, my man, for sharing your truth, your knowledge, your value with Fire Nation today. For that, we salute you and we'll catch you on the flip side. Let's go, John. Let's go. Fire Nation, let's go. Yo, shout out to my man, John, for giving me the opportunity. But not only that, you are the average of the five people you hang around. So if you're hanging around John and D.D., just know your credit and your finances will not be the same. Fire Nation, let's drop some gems. Let's drop some fire. Listen, John, thank you. Hey, Fire Nation. Today's value bomb content was brought to you by Doreen.

28:06And Fire Nation, over the last decade, I've interviewed more than 3 ,000 of the world's most successful entrepreneurs. And I've created a revolutionary 17-step roadmap for your financial freedom and your fulfillment. I put it all into my first traditionally published book, The Common Path to Uncommon Success, personally endorsed by Seth Godin and Gary Vaynerchuk. The Common Path to Uncommon Success is the step-by-step guidance that you need, Fire Nation, to achieve the lifestyle of your dreams. Visit UncommonSuccessBook.com to order your copy, and I'll catch you there, or I'll catch you on the flip side.

28:44Franocity has helped hundreds of people leave unfulfilling jobs, invest in recession-resilient businesses, and create legacy income for their families through franchising. Get started today with Franocity's Franchise Funding Guide, packed with real-world strategies to launch your business without draining your savings. Visit Franocity.com. That's F-R-A-N-O-C-I-T-Y dot com. Are you ready for the ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies? Build funnels, automate follow-ups, manage clients, and even white label your own software. Say hello to our featured partner, High Level, and visit highlevelfire.com to start your free trial today.