Things you always wanted to know about Credit Reports – Brian Linnekens

Posted on June 25, 2013 by admin

Credit Reporting is but one ingredient that will keep virtually all Americans on their toes. Although it’s a simple process and a straightforward reporting nevertheless persons are frightened to death at the mere mention of a credit report observed Brian Linnekens. There are various misconceptions which have rendered their way straight into the public domain by way of word of mouth. Misconceptions don’t possess solid ground still persons are afraid as a result of ignorance regarding how credit reporting is done. Once men and women know the process and the fact that credit reporting in addition to credit scores tend to be for the benefit on the common individuals and can be useful to enhance their personal credit abilities it might be quite easy to manage daily finances which are today sort of burden for the average American today.

Experts such as Brian Linnekens recommend people to at least check out their particular credit ratings . one or more times a year. While major credit scoring businesses provide a copy of one’s credit score per annum space them out allowing you to have a fair chance of examining your credit rating every 4 months that should make sure that you aren’t blind to your financial health. Having a mere look at your current credit file is not going to take you anywhere. You’ve got to be able to tell the facts from the common myths that encircle credit scoring indicates Brian Linnekens.

Persons keep questioning precisely why they aren’t being qualified for any debt with a low APR no matter paying off most former debts where a few problems endured. Well the truth is that resolved debts don’t get dropped from a credit report. Late payments and also bad debts aren’t dropped instantaneously from the credit report even though they have been resolved peacefully. The particular late payments as well as bad debts exist about the credit score for a good seven years. Even worse a bankruptcy tag might be there for 10 years on your credit report.

There are several who believe should they cease using the credit card their own credit score will certainly shoot up. This isn’t the case you can utilize cash for all your purchases but that is certainly not intending to make any impact on your credit history. Don’t stop working with credit rather make use of it conscientiously. Making your payments in time will certainly provide a bonus and you are guaranteed to receive a win within your credit score in case you start using your credit card more responsibly.

Closing on a credit card is capable of doing more damage than good. Organizations involved with credit reporting need to see a low credit utilization which is the ratio involving the credit you are using and the credit that’s available. So closing credit cards will certainly reduce this specific ratio when you are not reducing the outstanding credit however you are concluding on the available capital.

Don’t be worried to make queries regarding your credit rating advises Brian Linnekens. It rarely affects your credit history should you be making soft requests for personal reasons. When a bank or a financial institution is making an inquiry then there is a tiny influence on your credit rating. The effect will be small yet it’s measureable. So the best choice would be to make a soft inquiry in case you are in a doubt relating to your credit history.

A substantial income does not affect your credit score. Mainly because credit rating is a measure of how you cope with your credit thus income has a minimal part in the credit rating. Nevertheless Brian Linnekens states that when you’ve got a fat paycheck be sure you manage your credit in the very best manner while it will certainly help in a better credit scoring.

Brian Linnekens advises on drafting a debt collection letter

Posted on May 2, 2013 by admin

Sending out a letter to one of your debtors can be quite a task as you need to get your message across without showing any disrespect and providing all relevant information that is necessary for the debtor. Your letter needs to be composed in a polite yet authoritative manner where the debtor gets all the information clearly and you are able to create an urge for the debtor to make his or her payment on time advises Brian Linnekens who has been working within the Debt industry for the past few years.

Brian Linnekens has not only been working with debtors but also has been advising creditors about a variety of topics. Apart from that, Brian also maintains personal blogs where he provides advice to creditors and debtors regarding the various aspects of Debt management. Debt management can be quite tricky for organizations especially while collecting back the money that has been loaned out.

Letters to debtors are a usual activity in any organization that is involved in the debt collection but the letters need to be professional while sending out a clear message to the debtor about the intentions of the agency. One needs to start the letter politely with an airy greeting that tells the customer that the company really appreciates the association of the customer with their organization and is thankful for their cooperation in the past. This will put the customer at ease before he or she runs into the details of the debt.

Next you need to put in the debt details on the letter in big and bold fonts so that a client with poor eyesight does not have a problem in reading the details of the debt. The current installment needs to be mentioned along with the principal outstanding amount, the interest accrued and any extra charges that are there on the client’s account. This will create transparency and confidence among your clients that will go a long way in fostering a comfortable relationship with your client.

If the client has missed out on any payments mention it clearly on the letter and tell the customer how many times you have sent reminders to the customers that have been ignored. Don’t forget to mention the due dates of the payments that have been missed and the dates of the letters that have been sent as a reminder to the customer.

Do not flaunt your connections or power in the letter to scare the customer as it will have a negative impact on the client. Instead you can inform the client that you are transferring his or her debt to a collection agency that specializes in collecting debt from erring clients. You need to offer solutions to the client instead of scaring or instigating him. You can also break up the amount owed into smaller payments that the client is comfortable with for that specify the time and amount that needs to be paid at specific dates. Allow a grace period for the client to make the payment communication for which should be there on the letter.

Getting your credit report in order with Brian Linnekens

Posted on March 20, 2013 by admin

Have you been confused lately as to why your credit score is going down or why many of the financial institutions have turned down your request for a loan? Chances are that your credit score has gone down without your knowledge. Errors and oversight from one or several financial institutions is quite normal according to Brian Linnekens but these mistakes that seem to be trivial to the financial institutions have big effects for an individual who is seeking financial aid, loan for an automobile or mortgage for his or her home.

First and foremost you need to have firsthand information about your credit scores. This can be easily done by going on annualcreditreport.com and accessing your credit report free of cost if you have not received a copy of the same in the past 12 months informs Brian Linnekens. Even if you are outside the US and need to access your free credit report you can access the same via ftc.gov. Once you have the Credit Report with you it’s easy for you to ascertain whether your credit history is in order or if it needs a tweak due to an error from the Credit Bureau’s end or from one of your Creditor’s end.

If you have a low credit score that is unexpected then you need to pull out your credit report from all three credit reporting agencies namely Equifax, TransUnion, and Experian. All these work independent of each other and do not share information. The advantage and logic behind pulling out the credit reports is that you will be able to find the error in reporting. If one of the credit bureaus is goofing up on your credit score then the error will not be visible on the other two but if the error is on part of a creditor then all the three bureaus are going to reflect it.

Next step is to file a complaint with the credit bureaus regarding the wrong reporting of your credit scores. You can visit their website to do that. Normally each credit union has a form on their website that allows you to file your complaint with them. While filing that complaint make sure you provide maximum information about your financial transactions and details that they are asking for. Don’t worry these websites are secure and do not share information with any third party thus you information is as secure as it is with you.

Brian Linnekens further states that after filing the complaint you need to be patient as the Credit Unions have their own turnaround time for settling any issue with the negative credit remarks. This turnaround time may vary from a month to 45 days. These Credit Unions have their own techniques and methods to look into any issue that has been raised with them. Apart from that you need to fill out the information accurately so that the issue can be expedited. If the Credit Unions need to get more information from you the settling process will only extend.

Once the issue has been settled you need to file the documents and keep them in safe custody so that if in future the issue arises again you can easily come with the previous documents that you have with you. Professionals like Brian Linnekens are always there to guide and explain the proper process to deal with the negative marks on your credit report.

Debt Management Companies according to Brian Linnekens

Posted on March 4, 2013 by admin

People are constantly on the lookout to reduce their monthly payments or to get their loans reduced whether it’s a mortgage, a car loan or a personal loan or credit card debt. According to Brian Linnekens this trend is an ongoing process in the financial world owing to the slump in the global economy where people are finding it difficult to make both ends meet. In this scenario comes the role of a debt management company.

But before working with any Debt Management Company you need to check a few things about that company informs Brian Linnekens. You need to check if the company is registered in your state, you need to understand the services they are offering along with the fees they are charging for a particular service. Apart from that as a consumer you need to be aware of your rights so that the Debt Management Company is fair with you while dealing your case.

According to Brian Linnekens a Debt Management Company may offer an array of services like counseling on budgeting. They will also guide you in planning for the strategy that will make sure that you pay off your debts. Credit Repair is another service that is offered by Debt Management Companies. Sometimes it is possible that there are negative marks on your credit report without any fault of yours. This is where the Debt Management Company will help you to get over those negative credit marks of yours. Loan modification can be done with the help of these Debt Management Companies.

If someone is applying for bankruptcy, Debt Management Companies may play a major role in helping you file for bankruptcy chapters. You can authorize these debt management companies to work on your behalf and get your loan reduced from the agencies where you have gotten your loan from. They are competent and qualified to talk to a bank or a Credit Union.

There are attorneys who are qualified and licensed by the government to provide debt management services. Such attorneys are a great option as they have represented various cases and have inside out knowledge of their client’s position and the working of financial institutions. Attorneys tend to take personal interest in the financial matters they are representing for their clients as the fee of these attorneys us dependent on the outcome of the result of the representation they are making before the financial institution. Apart from that the attorneys needs to safeguard his reputation to attract more and more clients for himself.

The person undergoing a loan modification or any type of financial adjustment with the creditors along with a debt management company should never sever the communication lines with the creditor as it may go against the individual. Many times Debt Management companies will tell you to stop all communication with the creditors which is a wrong practice.

An attorney will make sure that you get the best deal while going in for a financial arrangement with your client while a Debt Management company works on fixed parameters with its employees keeping their personal preferences above those of the client.

Brian R. Linnekens Protects Clients from Unfair Debt Collection Practices

Posted on August 14, 2012 by admin

Many debt collectors will use any available tactic to collect debts from hardworking Americans. Although Brian Linnekens strongly believes that we should make every attempt to pay the debts that we owe, he also believes that all clients deserve to be treated with the common decency and respect. As a result, Brian Linnekens has developed a network of attorneys around the country who are trained to protect clients from unfair collection practices.

Unfair Practices

According to Brian Linnekens, a debt collector may not use unfair or unconscionable means to collect or attempt to collect a debt. Specifically, a debt collector may not:

Collect any interest, fee, charge, or expense incidental to the principal obligation unless it was authorized by the original debt agreement or is otherwise permitted by law
Accept a check or other instrument postdated by more than five days, unless he or she notifies the consumer, in writing, of any intention to deposit the check or instrument; the notice must be made no more than ten nor less than three business days before the date of deposit
Solicit a postdated check or other postdated payment instrument to use as a threat or to institute criminal prosecution
Deposit or threaten to deposit a postdated check or other postdated payment instrument before the date on the check or instrument
Cause communication charges, such as charges for collect telephone calls and telegrams, to be made to any person by concealing the true purpose of the communication
Take or threaten to repossess or disable property when the creditor has no enforceable right to the property or does not intend to do so, or if, under law, the property may not be taken, repossessed, or disabled
Use a postcard to contact a consumer about a debt

Although many of these may seem obvious, Brian Linnekens and his attorney network have found that many debt collectors still use these tactics to try to harass clients. But with proper representation, most if not all of these practices can be stopped, allowing for a civil discourse between debtors and collectors.

This website is designed to provide only general information. Nothing contained herein constitutes legal advice, nor is it intended to offer legal advice. Use of this website is not intended in any way to create or even to convey the impression that such use of this website by any person, organization or entity of any nature and/or kind constitutes any attorney-client relationship whatsoever. The Law Offices of Brian R. Linnekens does not make any guarantee as to the accuracy or currency of any information contained in or created through use of any link to another website contained in this website. You should consult a lawyer for individual advice regarding your own situation.

Brian R. Linnekens Fights Debt Collectors who use False and Misleading Tactics

Posted on July 3, 2012 by admin

Brian Linnekens graduated from UCLA School of Law in 1999. Since that time, Mr. Linnekens has practiced law within a variety of specialties. One of the most impactful practices that Brian Linnekens has developed is based in the Fair Debt Collection Practices Act, commonly referred to as the FDCPA. The FDCPA is a very powerful Federal law designed to protect consumers. According to Brian Linnekens, many individual states also have enhanced protections under their own expansions of the FDCPA which extend the requirements to original creditors, not just secondary collectors. These various laws prohibit debt collectors (and often original creditors) from using dishonest and abusive methods of collecting money owed.

False or Misleading Representations

Brian Linnekens informs his clients that a debt collector, in collecting a debt, may not use any false, deceptive, or misleading representation. Specifically, a debt collector may not:

Falsely represent or imply that he or she is vouched for, bonded by, or affiliated with the United States or any state, including the use of any badge, uniform, or similar identification

Falsely represent the character, amount, or legal status of the debt, or of any services rendered, or compensation he or she may receive for collecting the debt

Falsely represent or imply that he or she is an attorney or that communications are from an attorney

Threaten to take any action that is not legal or intended

Falsely represent or imply that nonpayment of any debt will result in the arrest or imprisonment of any person or the seizure, garnishment, attachment, or sale of any property or wages of any person, unless such action is lawful and intended by the debt collector or creditor

Falsely represent or imply that the sale, referral, or other transfer of the debt will cause the consumer to lose a claim or a defense to payment, or become subject to any practice prohibited by the FDCPA

Falsely represent or imply that the consumer committed a crime or other conduct to disgrace the consumer

Communicate, or threaten to communicate, false credit information or information that should be known to be false, including not identifying disputed debts as such

Use or distribute written communications made to look like or falsely represent documents authorized, issued, or approved by any court, official, or agency of the United States or any state if the appearance or wording would give a false impression of the document’s source, authorization, or approval

Use any false representation or deceptive means to collect or attempt to collect a debt or to obtain information about a consumer

Fail to disclose in the initial written communication with the consumer, and the initial oral communication if it precedes the initial written communication, that the debt collector is attempting to collect a debt and that any information obtained will be used for that purpose.

In the event that a debt collector commits any of these acts, Brian Linnekens advises clients to keep accurate records of such violations. Armed with accurate activity logs, Brian Linnekens and his team are capable of holding the collectors accountable for their actions.

In addition, Brian Linnekens has explained that there are certain other more refined violations that may occur in connection with threats of a legal nature. These include:

Falsely represent or imply that accounts have been sold to innocent purchasers for value

Falsely represent or imply that documents are legal process

Use any name other than the true name of the debt collector’s business, company, or organization

Falsely represent or imply that documents are not legal-process forms or do not require action by the consumer

Falsely represent or imply that the debt collector operates or is employed by a consumer reporting agency

Many clients of the Law Offices of Brian Linnekens have found that debt collectors are often not aware of these restrictions, or are too careless to follow these guidelines precisely. Brian Linnekens and his team of attorneys around the country have helped minimize these violations and provide protection for clients who have been victimized by any of the foregoing.