If you have had a criminal violation, it would be worth your while to watch this video.
Attorneys Carmen Dellutri and David Fineman of the Dellutri Law Group discuss this topic in a short video from the Consumer Protection Program.
Continue reading "Criminal Violations and Credit Reports. " »
Credit Scores are one of the greatest mysteries known to man. We all know that a good or great Credit Score will open up all kinds of financing opportunities at the lowest rates. We also know that a bad or low credit score will hurt us in the long run by costing us more money when we finance something.
What you may not know is that a credit score is a number that may be constantly changing on a month to month basis. The credit score is locked in at that one point in time when the report is prepared. The significance of a credit report is that it reflects the individuals credit worthiness at that one point in time.
I get asked this question quite often. The reason this question comes up is because the Debt Collectors threaten people by saying: "If you don't pay in 30 days, we are going to put it on your credit" or "We are going to put a charge off on your credit."
People get scared when they hear this because it goes right to the heart of their fears. I'm about to get psychological on you. I believe that people want to pay their debts, and when they cannot pay the bills as they come due, it weighs very heavily on their minds and crushes their self-image. So, here comes the debt collectors with their "piling on" mentality, just throwing out more insults and threats to scare the already beaten down individual.
Continue reading "Can A Debt Collector Put Something On My Credit Report?" »
Zombie Debt is a problem, there is no doubt about it. Many Dirt Bag Debt Collectors re-age Zombie Debt and put it on your credit reports. Obviously, this is a problem.
Continue reading "How Does Zombie Debt Affect My Credit Report" »
Attorneys David Fineman and Carmen Dellutri of The Dellutri Law Group discuss the Fair Credit Reporting Act and how Credit Reporting Agencies deal with disputes.
Continue reading "How Does A Credit Reporting Agency Verify Information" »
It's funny how people think about money. Each day I meet with people who are contemplating hiring our firm to represent their interests for personal injury, bankruptcy, foreclosure defense or short sales, and they ask tough questions like:
Are you looking out for my best interests?
Who will be working on my case?
How much will I be charged for the service?
Will you return my phone calls?
I wonder if they asked the tough questions to their credit card companies before selecting their cards. I know I didn't. But, what should we be asking these companies?
Continue reading "Ask Credit Card Companies The Tough Questions?" »
Has your credit card interest rate ever risen at the end of a low introductory period? Did you miss those extras fees or restrictions on availability buried deep in the fine print? Have you ever looked at the loan documents and just not understood what they meant but signed because your mortgage broker and/or bank said sign here? If you answered yes to any of these questions, help may be on the way. However before the help gets here you, the consumer, will need to help the effort get off the ground. Sign upDodd-Frank Wall Street Reform and Consumer Protection Act in July of 2010, the Consumer Financial Protection Bureau has launched its website ahead of the implementation of many of the Acts provisions in July of 2011.
Currently the website and the agency itself are both in the beginning stages of construction and taking suggestions on how to implement the mission of the Bureau and how to communicate with the very public that it is designed to serve.
Continue reading "The Consumer Financial Protection Bureau Website is Active" »
Last year, A bill named "Equal Employment For All Act" was proposed by U.S. Rep. Steve Cohen (D-TN). If it became law, the bill would limit an employers use of an applicant's credit report when screening that person for a job. Actually, the Equal Employment For All Act would amend the Fair Credit Reporting Act to prohibit employers from using credit checks when making adverse employment decisions.
The Dellutri Law Group is proud to announce that our new website is live. The website came from our show, The Consumer Protection Program. The Consumer Protection Program is a live call in show where consumers can call with their questions. The show runs every Thursday evening at 6:00 pm on Comcast.
Click here to see Mr. Dellutri answer your credit reporting questions.
Continue reading "Dellutri Law Group's New Website To Help Consumers" »
Practicing Consumer Law has opened my eyes to many scams. Credit reporting is one of the biggest scams out there. The accuracy of your credit report is entirely up to you. You are the only one who cares how accurate your credit reports are, and here is the reason why. If you are going to apply for credit, you can bet your last dollar that the creditor who pulls your credit report is going to be looking for any reason to charge you the highest interest rate possible.
Let's use car sales as an example. The car dealer is going to make some money on the sale of the car. This is usually in the form of a mark-up on the price the dealer paid for the car and the price he or she is going to sell the car for. Let's say they paid $5,000 for a car at the auction, and you agree that you will pay $6,500 for the car. The dealer will make $1,500 on the mark-up.
At the same time, if you are going to finance all or a portion of the transaction, the dealer is going to make money either carrying the paper (buy here - pay here) in the form of interest on the loan, or he or she is going to sell the paper (Ford Motor Credit or some other lender) and make money on the origination of the loan.
If the dealer is going to sell the paper, the dealer still has a financial interest in getting you to agree to pay the maximum interest so they can increase their profits.
At the same time, they have to make you believe that you are getting a good deal.
With this all in mind, your credit reports are the key to the transaction. If the dealer can find any flaws, you are going to get a higher interest rate. They are going to sound sympathetic to your cause and make you think there is nothing that they can do, as you sit in the new car you so desperately want. They know you have already texted pictures of the car to everyone in your address book, and everyone expects to see you in the new car, etc, etc.
So, you are going to be paying more for the car than it is worth because of something on your credit report.
Now have I got your ear about how important the information on your credit report is?
Continue reading "How Accurate Is Your Credit Report? Part I" »
One of the most important things to people is their credit rating. However, the FICO score, as it is known in the industry, is one of the best kept secrets, next to the Google search algorithm. Keeping a good credit rating starts with learning how to read your credit reports. But, before you can start working on your credit report, you need to review your existing credit reports. So, the big question is how do I get my credit reports?
First, you need to either call the big three credit reporting agencies: Equifax, Experian, and Trans Union. Another way to receive all three credit reports, possibly for free, is by going to Annual Credit Report.com.
Either way you will accomplish the task.
Last Night, Consumer Protection Attorney, Carmen Dellutri, was interviewed on NBC-2 about the changes in the law for Credit Card companies and how these changes will impact the consumers
Continue reading "Carmen Dellutri on NBC discussing Credit Card Companies" »
