Mycreditattorneys.com - Daffner & Associates Consumer Credit Practice Group

08/04/2022

WHAT THE HELL?
It's difficult enough to obtain financial resources -- we don't need one of the "Big Three" making it even more difficult! Sounds like a job for the FTC...

The credit score giant provided incorrect information to banks on millions of people seeking loans -- and, last Friday, boosted the CEO's pay package

08/03/2022

Don't end up in the hospital over the stress of your credit problems! Call us!

08/03/2022

08/03/2022

U.S. household debt increased to a record $16.15 trillion in the second quarter, driven mostly by a $207 billion jump in mortgage balances, with credit card and auto loan debt also rising as consumers lifted their borrowing to deal with soaring inflation, a Federal Reserve report showed on Tuesday. Credit card balances increased by $46 billion in the second quarter, among the largest seen by the Fed since 1999, while auto loan originations rose by $33 billion to $199 billion. And creditors are increasingly refusing to remove negative items on credit reports - and, in fact, are noting these delinquencies more than ever (to justify the higher interest rates).
Folks, this isn't a joke.

06/15/2022

DID YOU KNOW: Consumers were actually able to pay down credit card debt and boost savings during the pandemic? Yes - American consumers paid more than $83 Billion Dollars in debt reduction over the past two years!

Unfortunately, according to the Monthly Credit Report by the Federal Reserve, revolving debt (i.e., credit card debt) INCREASED 20% during the month of April alone, and credit card debt is back to record levels amid the highest inflation in 40 years.

To make matters worse, with this kind of inflation and rising prices, many people have nowhere to turn but to try to obtain even MORE credit or get a loan...and banks are now LESS willing to loan money (particularly at low rates) to anyone without a great credit score.

If you're in the same boat as millions of Americans, simply give us a call and our attorneys will be happy to review your credit and assist you in any way to build your credit score. Hopefully, the pandemic and the current economic crisis will be over soon, but in the meantime, we need to deal with the reality of the situation.

Thanks!

05/24/2022

CREDIT MISTAKE OF THE WEEK: MAXING OUT YOUR CREDIT CARDS

Even if you’re making all your payments on time, carrying high credit card balances can negatively impact your credit score. That’s because your credit utilization rate — the percentage of total revolving debt you have to your total revolving credit limits — makes up 30 percent of your credit score.

For example, if your total credit card debt is $10,000 and the total of your credit limits is $20,000, your credit utilization rate would be 50 percent, which will likely lower your credit score.

To avoid this credit mistake, try to pay off the statement balance of your credit cards each month. If you can’t do that, then set a goal and make a plan to get those balances down as soon as you’re able. Ideally, you need to have your utilization rate below 30% and you’ll see your credit score rise!

05/22/2022

Just gonna leave this here. Anyone see what they’re really doing?

May 20, 2022

05/21/2022

When the Federal Reserve raises interest rates, the rates on your savings accounts typically increase in response. But while the Fed has hiked rates by a total of 75 basis points since the beginning of the year, savings rates have barely followed suit. Since April 2021, the average nationwide interest rate on savings accounts largely have stood at 0.06%, barely inching up to 0.07% last month.

As if that’s not bad enough, credit card interest rates, delinquencies, and foreclosure are all increasing.

If you haven’t already done so, it’s time to look into fixing your credit score. Call us.

05/20/2022

Inflation, devaluation of the dollar, extraordinary home prices. Record foreclosures, highest prices we’ve seen on commodities, etc. - this is the America we live in. And now, thanks to new scoring models, 750 is a “fair” credit score. Let us help you before it’s too late!

10/13/2021

We've had great success since launching consumer credit restoration as a separate, stand-alone practice area in September. However, our "promotional period" is coming to an end, and fees will return to standard fees soon. If you're interested in taking care of your credit issues and you want our experienced legal team to help, give us a call. We've helped thousands of clients over the past 30 years - now let us help you!

09/28/2021

Sick of all the "fly by night" people who claim they can get you perfect credit in seconds? Well, it doesn't work like that! Our law firm has been in practice since 1993 and we know what we're doing! With some of the lowest client fees in the industry, isn't it time for you to let the real professionals help? Call today for a free consultation!