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.

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.

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.