CreditFactors Credit Score Analysis

Debt Negotiation & Settlement Services

Maybe you can settle your debts yourself

Subscribe to CreditFactors -- You can post questions at the CreditFactors forum at no charge and maybe you don't need any help.

Personal Recommendations

You can order the Credit Review and I'll review your myFICO reports. Once you answered my questions, we decide whether any accounts should be settled. Sometimes it's not necessary or beneficial to settle debts, other times debts have to be settled to improve the FICO scores or to get a mortgage at the best rates. If so, we'll decide whether to start with one account or how to proceed. If I work on several accounts, I can probably give you a discount.

Unlike most other debt negotiators, I do not charge a percentage of the $$$ saved.

It doesn't matter if the savings (discount) is $100 or $20,000, it's the same amount of work for me and I may even recommend that you do NOT settle an account for a number of reasons:

The statute of limitations might have expired
A collector might not be able to document the debt.
Paying a judgment will not improve your FICO scores and many creditors will not vacate judgments.
Why pay one or a few creditors if you can't settle all accounts and your credit won't improve?

The bottom line is that whether to settle depends on your individual situation.

Of course there are situations when you should settle.

If your credit is fairly good and/or the creditor could garnish your wages, you might want to settle. If you are sued or served with an arbitration claim, you definitely want to settle IF you have the funds, your credit isn't shot already, you have assets or they could garnish your wages and bankruptcy is not a viable option.

If you want to buy a house or refinance, judgments and most collections should be settled and/or removed from your credit. Judgments will most likely be found by the title company even if they are not on your credit. Collection law firm sometimes have an option on their telephone system for "escrow payoffs." They love escrow payoffs -- they get paid in full including the accrued interest. Always settle judgments BEFORE you try to get a mortgage. I called to settle a $12K judgment obtained only a few months earlier, they offered to settle for $8K and finally accepted $7K. Not a bad settlement for this very new judgment.

I negotiated a settlement with Wolpoff & Abramson after they filed an MBNA arbitration claim against my client. The attorney promised that the account would be deleted from the credit reports after settlement. After we reached an agreement on the amount to be paid, I asked for written confirmation that they'll delete and he claimed that he never promised deletion.

As I normally record all calls, I left the excerpt of the recording with his promise on the attorney's VM. They promptly sent a letter stating that MBNA had deleted the account.

Aside from my credit reporting and FICO scoring expertise, I have an extensive real estate and mortgage background and after 10 years of running credit forums and providing personal consultations, I consider myself one of the most knowledgeable experts in the country. But all that knowledge is irrelevant until I reviewed your FICO reports and until I am familiar with your financial situation, goals and time frame.

After the Credit Analysis I'll know whether deletion of an account or vacating a judgment is worth a few extra bucks when settling. It depends not only on the reporting of the accounts to be settled, but also on what other accounts are reported. There is no point to fighting for deletion of a 4-year old collection if you have a 2-year old paid collection that's already been verified. Determining what's relevant and important to achieve your goals is my expertise.

When debts are reported by collectors, they should often be disputed with the collector and the reporting CRAs to ensure the best chance of getting DELETION from the credit.-- prior to any settlement attempts. Those recommendations along with the specific dispute according to your situation are part of the Credit Analysis.

I am offering Debt Negotiation & Settlement on a limited basis with the following terms:

You must be a CreditFactors subscriber . I post links to specific items you need to read and you might even be able to handle the settlement yourself with some help at the CreditFactors forum. I can't save you a whole lot when you only owe a few hundred dollars.
You must first order a Credit Review or Analysis. I won't be able to give you advice unless I know all about your credit and financial situation.
You must provide me with online access for your myFICO reports and possibly the bureau reports -- depending on your specific problems. Which myFICO reports to order.

I cannot work with tri-merged and other incomplete reports - I work very hard to provide the best recommendations possible and I'm not the Oracle. For more information on various credit reports and how to get the "real" Experian and Trans Union reports with the deletion dates for derogs, please read my instructions at CreditFactors.

Cost: $600 without the right to publication.
I can work with "modified" credit reports, occasionally clients really don't want me to know who they are or what they do and sending me edited reports ENCRYPTED is not a problem.
I set up your private forum within 24 hours.
Turnaround time is usually no more than 3 days, with a maximum of a week. I can only work with one new client at a time and I'm often busy with my suits. You must be willing and able answer my questions.
I expect to spend about 6 hours per account to be settled. During the initial Credit Analysis we discuss all problem accounts. Sometimes it's an "all or nothing" type situation for clients with limited funds or to decide whether to file for bankruptcy and I have to contact all creditors for offers. For several accounts I can usually give a discount, it really all depends on who the creditor is, how difficult they are -- sometimes I spend literally hours on hold and being transferred around just to get the number to fax the power of attorney to, sometimes it's fairly quick.

Sometimes creditors and especially law firms decide to send numerous mailings after the settlement to me, and I have to forward everything to you. I keep a call log, post summaries of all calls at your private forum and I save the recordings. We discuss the offers and your options. I ensure that your settlement is properly documented and that you have proof of settlement.
If you have several accounts to settle, you can have me negotiate the first settlement and then settle the others yourself if you feel confident negotiating on your own behalf. Sometimes it's best to quickly settle, as when an account is assigned to a new collector and not yet reported. If the total is only a few hundred dollars and it's not reported on the credit, there's really not much to negotiate. I can give you some tips on how to proceed and that's part of the Credit Review or Analysis.
If you can't find the answers to your questions about my services and CreditFactors at the FAQ, please contact me with your question(s).

ORDER

Please order your reports with the FICO scores PRIOR to ordering my services to make sure that your reports aren't blocked.

$300 Debt Negotiation (Credit Activist):

$600 Debt Negotiation (no publication):

My litigation is documented at my blog and CreditLegislation.org has lots of info on illegal credit reporting practices and my regulatory and legislative efforts.

Fees are subject to change at any time.
All services are LIMITED TIME offers and may be discontinued without notice.

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