More on fixing your credit.

 

Coach Me Kristin on how to raise your credit score fast!  

 

https://www.youtube.com/watch?v=fRwt-NCrH6E

Look at the video above by clicking on the picture or the link above.

Here are questions that most people have about there credit. 

Q. How do you handle a law firm that contacts you and states that a law suit will be filed against you the following day if you do not comply or make some form of payment within a 24 hour time period. Is this another way of intimidation or is this allowed under the law?

A. There are 2 things going on in this situation... There isn't any way to know for sure if they intend to actually file suit. The 2 most important factors are the size of the debt and the statute of limitations on the debt. If it's a small debt or the Statute of Limitations (SOL) has expired, then it's not very likely that they will file a law suit.

It could very well just be an intimidation tactic, especially if the debt is small. It really depends on the size of the debt and any previous communication you've had regarding the debt.

If the attorney does not intend to sue you the following day, then this would likely be considered harassment under the FDCPA § 807 (5). You should make a detailed note of this phone call and you may wish to use it as leverage later to negotiate removal of the mark from your reports or if you ever have to go to court over the debt.

Second, this is an attempt by the debt collector to get you to re-affirm the debt and restart the statute of limitations on the debt. Remember, the SOL runs from the date of delinquency and any partial payment or written acknowledgement of the debt may restart the SOL. You will have to check your state laws for specifics in your state. Never make partial payments to a California (CA) Loan unless it is part of a negotiation strategy.