Theresa B.* called me in an outright (and justifiable) panic!
She and husband Mark were actually at their mortgage broker Todd's office when Todd told them that they were NOT going to be able to refinance their house because of Mark's credit report.
This was a BIG Deal because Theresa and Mark had an adjustable rate mortgage WITH a balloon payment and it was coming due soon.
The mortgage market was good and they'd be able to get into a 30-year fixed and save their house - except for this one problem. A problem they needed fixed right away!
Normally, my clients find an error in their credit report and I help them (usually with The Ultimate Credit Clean Up Machine) figure it out, launch the right disputes to the correct credit bureaus in the proper format, and get the deletions started - for Free. Then I litigate the remaining sticky items on a contingent fee. This process is awesome - but it takes a couple months.
Theresa and Mark didn't have that kind of time: They needed action fast so they had already called the creditor (again) who had placed the negative remark on the report and they told me "it was like shouting into a Black Hole!"
What, I asked, was the nature of the error? Well, it turns out that their old mortgage company - the one that was about to bust them with this balloon payment - had furnished a report to the bureaus that Theresa and Mark were late on some payments when, in fact, Theresa and Mark had all the canceled checks and statements to show that they weren't. In fact, they had complained to the mortgage company earlier and tried to prove their side of the case but had gotten nowhere.
Now, would the case have been stronger if Theresa and Mark had disputed with the Credit Bureaus when they first found out about this? Yes, but here in California, there's a little-known law that allows consumers to sue creditors who provide false information to the credit bureaus WITHOUT disputing it to the Credit Bureaus first when I can show that the creditor KNEW or should have known that they were reporting bogus information!
Theresa and Mark's case wasn't going to have as many defendants, it was going to be a little more risky, and it wasn't going to be worth as much, BUT, we could file today.
"Fight tonight" as we say in the Marine Corps.
I got their information, we did the Standard Retainer agreement and got that State Court lawsuit filed within 24 hours!
Within 10 days we had a "stressed but trying to sound cool and dismissive" call from the opposing attorney and one day later had the offending tradeline completely removed and Theresa and Mark closed on their refinance just in time!
The P.S. to this story is that a check to Theresa and Mark for compensation followed a few weeks later after the defendant thought better of trying to defend their actions in front of a jury - and all of my attorney's fees got paid by them as well.
If you're having credit report problems at the mortgage broker's office or down at the bank when you're trying to get any kind of loan: Call me immediately!
You won't know what I can do for you and for how little money and effort until you give me the chance to hear your situtation. So Get In Touch With Me Now!
Mark and Theresa are sure glad they made the call!
* Real names have been changed to protect confidentiality. This testimonial, dramatization, or endorsement does not constitute a guarantee, warranty, or prediction regarding the outcome of your legal matter. The results portrayed were dependent on the facts of that case, and your results will differ if based on different facts.