UNDER THE FCRA, CREDIT BUREAUS AND OTHER CONSUMER REPORTING AGENCIES ARE REQUIRED TO:
Debt Validation
At Debt Advisors, we strive to educate consumers about the nuances of debt and credit issues. We not only provide basic information about consumer credit, but we also provide a wealth of information on issues that may be unfamiliar to consumers.
For example, we offer our expertise on “debt validation.” Also referred to as “debt verification,” the term refers to a consumer’s right to challenge a debt and/or receive written verification of a debt from a debt collector.
It’s extremely important to understand this term because you are legally protected under the laws of the federal Fair Debt Collection Practices Act.
We’re here to guide you in understanding your rights and avoid falling victim to unscrupulous debt collectors. With our help, you will be armed with tools to put a halt on harassing phone calls and collection calls.
Debt Advisors Understands Credit Reports and Credit Scores
Understanding the many factors that can affect your credit score begins with understanding your credit report. Debt Advisors goes beyond showing you how to get a free credit report. We want you to understand exactly what can negatively impact your score.
While many know that paying their debtors late can ding their credit scores, they may be unaware of the other instances that can be equally as harmful. We make you aware of them so that you can avoid them. This includes the amount of debt you owe and the length of your credit history.
Legally Repairing Your Credit
There are millions of people who unknowingly and unwittingly have negative items on their credit reports. Unfortunately, too many only learn of the items when they are turned down for a loan or a credit offer. Just as disturbing is the fact that the negative items may be errors.
If you suspect that your credit report has errors, removing those negative items may be the fast way to increase your credit score. Fixing your credit is often referred to as credit repair in which unscrupulous outfits prey on the most vulnerable. They make promises of repairing your credit – for an exorbitant cost. Too often people end up with not improvements, and in a worst financial position.
Our team will work diligently with the credit reporting agencies and your creditors to ensure the credit bureaus have current and accurate information. If you suspect that your report has errors you should contact us immediately.
Best of all, we provide a free consultation so you can get to know us and see how you’ll benefit from our expertise!
Point-by-point Breakdown of Credit Score
Many understand that points could be shaved off their credit score by failing to pay their bills on time. However, there is a bounty of other issues that could be just as damaging.
For example, you may try to resolve your debt obligation by entering into a debt settlement agreement. Any payment status other than “paid in full” or “paid as agreed” can damage your credit because you are not paying your full balance as required by the terms of the contract or as agreed.
So, while you think you’re doing the right thing, debt settlement will have a negative impact on your credit. In fact, entering the agreement can shave as many as 125 point off your credit score.
We show you how to avoid this particular setup and provide you with information about your other options.
Debt Validation and Usury Laws
Each state has a Usury law that limits the amount of interest a lender can charge. The word is foreign to many, but its importance should not be. This is especially the case for credit cardholders.
To their benefit, not cardholders’, card issuers can charge interest rates that are based on the laws of the state in which they are incorporated. That means the interest rate could be higher than your state’s interest rates.
For example, many incorporate in Delaware or South Dakota because these states have more favorable usury laws.
We provide some of the details for each state’s usury laws. We’re also available to help you understand your state’s usury laws before you sign any loan agreement in which interest rates may not be to your financial advantage.
Some of the detailed advice we provide relates to recognizing red flags. For example, the loan agreement should not have an interest rate that exceeds the state’s usury limit.
Hitting Financial Targets
At Debt Advisors, we understand that maintaining good credit is just as important as repairing it. That’s why we are dedicated to helping you create and stick to hitting your financial targets.
Because financial targets help your stability there is a direct link between these targets and your credit and credit score. We guide you in achieving a great credit score, just as you did in school when you worked really hard to pass all your classes. You understand that everything you do financially could affect your credit score.
We help you make well-informed decisions and hit those very important financial targets.