Dealing With Telemarketers

We’ve all got them; unwanted calls from telemarketers

Are you hounded by telemarketers?  The next time you receive a call from a salesman, rather than ignoring it, simply pick up the phone, determine who the caller is and ask them to stop calling.  After that, maintain a record of that call as well of any more calls from the same company that may happen.

By telling sales companies that they do not have permission to call, you may be eligible to receive up to $1,500 per call if they continue to harass you.

A lawsuit filed against State Farm shows that victims of unwanted calls may be eligible to receive sizable payments, although they owed money to the company that is making the pestering calls. In the case, a federal court ruled that State Farm broke the law when it continued to make debt collection calls after the plaintiff specifically asked the company to stop calling.

The lawsuit involved a woman who provided State Farm with her housemate’s number as an emergency contact. When the woman fell behind on her payments, the company harassed her and her housemate with hundreds of unwanted debt collection calls.

Under the Telephone Consumer Protection Act, a federal law designed to protect consumers from unwanted calls and text messages, it is illegal for any sales company, including debt collection agencies, to use automated systems, artificial callers, and prerecorded messages to call or text you unless you have given the company express permission to do so. You can revoke your authorization to receive calls at any time, and the company must, by law, stop calling.

If you have received unwanted calls to your cell phone, you may be eligible to collect up to $1,500 per unwanted call. Call us now at 805.619.5131 for a free consultation.  Our attorney will be happy to evaluate and help enforce your legal rights.

The CFPB agrees with consumers:  Action needs to take place against illegal debt collection practices and it needs to happen now. Do you agree?  You will if you are one of the 77 million Americans who are hounded each year by debt collectors.  And now the Consumer Financial Protection... View Post

Cash for Collections!

Can you use some extra cash?  Of course you can, we all can!  Regular readers of our post know we routinely give cash to our clients; $1,000 is common and $4,000 or more happens as well!

How do you get your share of this money?  Glad you asked!  Gather up any collection letters you might have and remember to keep a record of any collection calls you get on your phone.  And then let us know!

We will correspond with them for you and determine if there are any violations.  If so, it may mean a cash award for you!

So don’t just throw out collection notices!  Bring them to us to investigate, it may mean a big bag of money for you!

To learn more about this, please visit: http://heritagecreditrepair.com/credit-counseling-debt-counseling

Pay Down Your Accounts

When I interview potential clients, I usually notice something on their credit report that will lower their FICO score more than a negative item will… do you know what it is?

We would think that a positive trade line (a current, paid-as-agreed account) such as a credit card or revolving line of credit are what is needed to establish good credit.

And usually that is true, unless the balance owed is close to or about the same as the credit line’s limit.  In other words, let’s say you have a credit card with a $5,000.00 limit.  If you have used up all the available credit, real close to the entire five thousand dollar, then you are carrying a “high balance”.

This potentially will cause more damage to your credit score than a negative item might, depending on the negative item.  While it may not be as bad as a charge off or a judgment, it will absolutely lower your score and cause you to have to pay higher than usual interest rates.

Your tip this month is to pay those accounts down!  Keep your credit card balances down to no more than 20% of the limit.  So, using our $5,000.00 credit card limit example, you will want to start paying it down to about $1,000 or less and then have a long history of timely payments on that account.

If you accomplish this with all your trade lines, lenders will offer you optimum interest rates when you buy something on credit and you will enjoy an improved FICO score too!

Next month our Tip of the Month will discuss how many trade lines you should have and why.  Don’t miss it!