Consumer Debt Litigation

FREQUENTLY ASKED QUESTIONS 

ATTORNEY REFERRAL SERVICE 
Before considering any type of program to reduce your debt we understand that you want to be as informed as possible and have all of the facts necessary to make an informed decision.  With this in mind we have put together a list of the questions our potential client's most commonly have along with the answers to these questions.
My debt keeps growing.    What can I do?
Hire an attorney.    A credit card is a legal contract between you and a Bank.   If you were involved in a car accident that was not your fault would you hire a debt settlement company or a credit counselor?   More than likely your credit card company changed the terms of the contract. Only an attorney can advise you of your rights under a contract.
Only an attorney can fix this problem that you did not create, your credit card company created this problem and they have attorneys.  We are going to find out the best possible solution for you and give that Information to the attorneys so that they can get started right away.
Most of the fees assessed to your account are finance charges that you may not have agreed to.  When we review statements we notice that the APR (Annual Percentage rate starts at around 5% but grows to 28%. None of our clients recall agreeing to the change in interest rate


WHY DO I qualify for this program?
This is not a program.    Everyone qualifies to have an attorney review the nature of the contractual relationship between you and your bank. Your attorney is going to get to the bottom of the issues you are having and figure out what your rights are under the law.     
You may be a victim of predatory lending and if so your attorney is going to tell you what your damages are.  We are going to evaluate your particular situation and PROVIDE this information to your attorney.

Do I need to file for bankruptcy?
Maybe; first let’s find out whether or not you can recover damages from your credit card bank.    Your lawyer will let you know whether you can sue your bank or not sue your bank but use the fact that they violated federal law as the basis of negotiating a settlement and release agreement.
Any non-lawyer that tells you that bankruptcy is NOT the answer is violating the law.  
Only an attorney can tell you whether or not bankruptcy is the right choice.  Our attorneys specialize in determine whether or not the bank has a leg to stand on.

Can you eliminate my debt completely?
Maybe; attorneys have eliminated over $500,000,000 in consumer debt since 2005.    The only way to “eliminate debt” is to require that the bank “verify” the debt.    When they cannot verify the debt, this is when the attorney can begin eliminating debt.  Only an attorney can do this. In some instances the attorneys have eliminated a client debt within 2 months.  Each case is unique and your case will be handled the sameway these attorneys have handled all their other cases.

What do I have to do while the attorney is handling my case?
Answer the phone, keep a good communication log, send your attorney every letter you get (even certified) and most importantLY RELAX.  You are hiring an attorney that knows how to handle banks and their debt collectors..

If any creditor, debt collector or credit reporting agency breaks the law your attorney will make sure that your rights are protected and if warranted a claim will be filed.

How much will I have to settle for?
It depends.   we have had some credit cards settle for $0.00 and otherS settle for 30 CENTS  on the dollar (30%).  It all depends upon whether or not the bank can verify the balance on the account.  What is important however is the manner in whicH the attorney settles.  Your attorney will not settle a debt unless the there is an agreement that the credit reporting agencies will reflect the account as being settled in full with no further obligation.  In other instances, the attorneys have recovered damages from a creditor or from their debt collectors in an amount in excess of the alleged debt owed.
Your attorney will not settle with a creditor or their debt collectors unless it is reasonable and reflects the agreement between you and the creditor.

 
What is the difference between hiring an attorney and hiring a credit counselor for a debt consolidation?
Debt consolidation companies work for the banks.     The banks give them a piece of software and every dollar that is left over after your other bills goes to the banks and the debt consolidation company gets paid a commission..  Your attorney on the other hand works for you.
A debt consolidation is like a Chapter 13 bankruptcy.  It can take 5 years and you pay back all the principal and interest.  A debt consolidation is a “re-payment plan”.   Your attorney can negotiate a debt consolidation if you want.  It’s your money and your choice. We are here to explain all of your options.

How long does it take to eliminate my obligations?
It depends.   Your lawyer will evaluate your case and determine whether to be really aggressive with your lender..  Before any negotiations occur your attorney must figure out what your obligations are under the terms of your contracts. Only then can your attorney determine what if anything you would need to pay back.
The length of time varies from card to card but every creditor is handled in the same professional manner and every debt is resolved.

How do I pay for Debt Negotiation?
Each month you will make a reduced monthly payment into your attorney's trust account.  When fees are earned by your attorney the
fees will be moved from the trust account into the operating account. 
At the same time this low monthly payment is being made, you will also begin building a savings account that will be used to pay any settlements.

Will creditors and debt collectors stop harassing me?
The reason why you are hiring an attorney is so that a licensed professional handles your case.  Creditors and debt collectors will try and discuss the contract with you with the sole purpose of causing you to waive your rights under the law.  Do not discuss your case with any debt collector or bank. Complete your communications log and get it to the law firm. The law firm will make the independent decision as to whether or not a lawsuit is warranted.   The law firm will not tolerate any harassment from a creditor, debt collector or debt purchaser.

HOW IS my credit score AFFECTED during AND after my attorney handles my case?
Federal law prohibits a creditor or debt collector from reporting that a particular debt is delinquent without reporting that the account is being disputed.   The Fair Credit Reporting Act requires that the creditors, debt collectors, and credit reporting agencies report accurate and complete information about you and your credit worthiness.
 While your attorney is handling your case you should not be taking out any extensions of credit.   This could not only interfere with your attorney’s ability to handle your case but can also put you in worse shape than when you hired the firm.  If you are considering taking out additional credit first discuss this with your attorney.  Let your attorney help you make the right decision.

Your credit report will be handled in two distinct phases. The first phase is to ensure that the creditors, debt collectors and credit reporting agencies properly report the status of any contract. This means that if your attorney requests that the contract be verified and for some reason it cannot, this fact would have to be reported.     If it is not, the PROVIDER of THE information is potentially violating the law.
The second phase is to address the manner in which negotiated settlement and release agreements are properly reported on your credit report.  Your attorney will require that you obtain all three copies of your credit report from Experian, Equifax, and Transunion. Once obtained, your attorney will challenge any negative information on the credit report and require that the information be re-investigated and verified.
In the event that it cannot be verified but remains on your report your attorney will make the decision as to whether or not a federal lawsuit is warranted. If so, you could be entitled to statutory damages, actual damages and attorneys’ fees.

How do I start?

The first step is allowing US to take some basic information and schedule a telephone appointment with the bar regulated lawyer referral service.  The lawyer referral service will complete the intake and discuss everything you need to know about the process of negotiating your contracts and making you bankable again.