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Get Started Now Knowledge Base

 
Common Knowledge Base Questions

How will the dispute process affect my credit rating?

With relief options such as this, you may have already experienced a decrease in your credit rating due to high balances and over the limit balances on your lines of credit or for non-payment. This is temporary which will continue throughout the dispute process. Upon completion of our program, you will be transferred to a credit restoration program which will remove derogatory information from your credit report leaving you with clean credit rating. Typically, the credit restoration portion of the process can take 4 to 6 months.


The Consumer Advocate of Choice

Under the Fair Debt Collection Practices Act among other similar laws, there are specific laws that protect consumers from third parties that take advantage of consumers utilizing fraudulent methods of debt collections which violate their rights. Many collection agencies overstep their legal boundaries in order to instill fear by intimidating the consumer.
The approach used by Credit Shield is to challenge the collector and place the onus on them to prove their legal authority to be able to collect a debt from you. This includes requiring them to complete the Debt Collector Disclosure Statement which includes details of how they obtained the original credit document’s contracts and the original accounting that was involved. It also includes an audit trail of the history of the loan and any activity that occurred throughout the loan’s life.

All of this communication with the debt collector is done through certified mail with a notary public that Credit Shield provides. There is a requisite time allotment that is given for the debt collector to respond via a notary to all of the demanded proof, which almost always expires. Credit Shield then provides a Notice of Fault, Notice of Non-Response, and Affidavit supporting the Non-Response via certified mail which details the additional limited time that they have to respond. This second opportunity to respond is a shorter time for than before and should result in proof that the debt was not validated or verified.
Should the debt collector persist in making credit demands upon you or files a law suit, a commercial record of the notarized record of the demands is used in your defense which can support a counter suit for violations against the FDCPA (Fair Debt Collection Practices Act).

As in most situations, knowing the law is the majority of a consumer’s ammunition. Armed with Credit Shield, the consumer has the benefit of years of experience and legal acumen that is put to work for you without the expense of hiring an attorney and the legal quagmire that can be lengthy and expensive.
In the debt collection process, there are many institutions like banks and collections organizations with big names that can be intimidating and place the consumer in a very defensive position unless the consumer is aware of their rights and remedies t solve their credit woes.
Credit Shield incorporates the laws that govern fair practices of billing, reporting, lending, credit, and privacy acts in order to protect its clients and ensure that all procedures are followed accurately.

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