Colorado Debt Settlement Attorney

Colorado Debt Settlement Attorneys

Debt Settlement Tips to Help You.

30 Day FICO "Tune-Up"

A FICO score is a credit score based on a mathematical model for credit ranking based on the information calculated from many credit oriented sources. FICO scores range from about 300 to 900. Generally, the higher the score, the lower the credit risk.

FICO scores are based on many factors, which include payment history, length of credit history, number of new credit sources, amounts owed and types of credit used. Your information used to give a score that identifies your individual level of credit risk. Lenders use this information to evaluate the probability of repayment and future risk that a loan entails.

Many of the factors affecting of your FICO score cannot be changed in the short term, such as adverse public records (bankruptcy, judgments, suits and liens) and past payment history. Fortunately, there are a number of steps you can take to immediately improve your FICO score. Improving your FICO score will help you better qualify for a loan or credit and will help you qualify for lower interest rates.

The three most important things you can do now, for quickest results are:

First, close out all but three or four of your revolving charge accounts. Individuals with more open revolving accounts (Visa, Mastercard, store cards) have lower FICO scores. Apply for and open new credit accounts only as needed. You should have no more than three or four revolving credit sources. But if you have only one revolving account, you are better off with two or three.

Secondly, pay down your current accounts; low balances on your credit limits will improve your FICO standing. The FICO formula takes into account the proportion of balances to credit limits on your cards. If you can lower that proportion, your score goes up.

Third, dispute any inaccuracies. There are two ways to dispute negative marks on your credit report; first by contacting the creditor directly, and secondly, by contacting the credit reporting agencies. It is recommended that you start with the creditor and request removal of all inaccurate notations. If this does not achieve your goal, contact the three major credit reporting agencies below. Once you have disputed a notation, the credit reporting agencies have thirty days to investigate your claim. If they cannot verify the accuracy of the notation, they must, by law, remove it from your report.

What is Debt Settlement? Debt Settlement Can Help You Eliminate Significant Debt.

Debt settlement involves negotiating with your creditors so they accept less than the full amount of the debt owed to them. Generally we can negotiate with your creditors and, for 50-65 cents on the dollar, they will consider your debt fully satisfied.

ADVANTAGES OF HAVING A DEBT SETTLEMENT LAWYER

Having a debt settlement lawyer on your side, gives you real advantages.

When dealing with a debt settlement lawyer, you have recourse that you may not have with your typical debt settlement firm. When you are going to give a firm thousands of dollars to settle with, it is imperative that your settlement funds are safe. The debt settlement industry is unregulated.

This means that anyone can call themselves a debt settlement expert, even if they have no education, experience or ethics. Your money is safe with a lawyer. I welcome you to call the Colorado Bar Association to check my flawless record, at 303-860-1112.

Another advantage of working with a debt settlement lawyer, is that a lawyer can stop the creditor harassment immediately in most cases. Federal law (Fair Debt Collection Practices Act) dictates that if you have a lawyer representing you, and you provide that information to your creditors, the creditors must contact the lawyer, and not you. This is not the case with your average credit counseling or debt settlement firm.

Debt Settlement works best for credit card debt. We also accept other unsecured debts such as medical bills, broken leases, and deficiencies from repossessed vehicles. Am I Good Candidate for Debt Settlement?

You are an optimal candidate for debt settlement with Trident if:

* You have more than $40,000 in unsecured debt, and * You have a lump sum of cash available to pay off creditors for 50-65 cents on the dollar

How Our Fees are Calculated.

Trident Debt Solutions only charges fees when you save money. We charge a set-up fee of $100 per creditor. After that, our fees are calculated as 25% of the money we save you through debt negotiation. For businesses, we charge 30% of the money we save through colorado debt negotiation attorney. What is Involved in a Debt Settlement Program?

Trust Account:

First, we set up a trust account for you. It is from this account that the settlements are distributed.

Lump Sum Debt Payment:

You fund the account with a lump sum of money which we use to negotiate with your creditors. Clients who have a lump sum for settlement receive the best outcomes.

Trident Debt Solutions is a Colorado Debt Settlement Attorney can get you out of debt in a relatively short amount of time (18 months or less) at a significantly reduced cost, without having to file bankruptcy.