For other questions not identified below use the Contact Form to submit your question
Q. How can I identify cases with credit damage value?
- You can download the Qualifying Case Profile Form which you can use during your intake interview. Alternatively you can utilize the Credit Damage Score to obtain an estimate of the viability of a possible credit damage claim.
Q. How do I get started?
- Use the confidential Contact Form to send preliminary case information and wait for a reply.
Q. How do I retain you?
- After submitting your information via the Contact Form, the following documents will be sent to you:
1. Retainer agreement
2. Record of judicial notice
3. Personal profile of Georg Finder
4. List of documents you may be required to provide
5. Credit damage Case Intake Form
6. Answers to the most frequently asked questions
Q. What are your Fees and Payment Schedule
- All fees will be set forth in the retainer agreement. We require that all fees be paid prior to the release of a verbal opinion or written report.
Q. What is a credit score?
- Credit score is a computer model based score ranging from 300 to 850 points. The score is intended to rate the probability that an individual borrower will default on a loan. Each of the three national credit bureaus utilizes its own model and derives its own score. Most major lenders also have their own score. A credit score is sometimes called a FICO score.
Q. What is a Qualifying Credit Damage Case?
- At minimum, for a case to qualify for credit damages, you must be able to provide the following information:
1. What is the damage?
2. Was your client denied credit?
3. Was the cost of credit increased?
4. Who caused the damage?
5. Who will be the defendant(s)?
6. Where does the damaging information appear?
7. Did derogatory information appear in your client’s credit report?
8. When did the damage appear?
9. Why did this happen? For example, were there any misapplied payments, fraud, negligence, a violation of your client’s rights, etc.?
**You must provide answers with clear and specific information to all of the above questions to enable us to determine whether your case will qualify as a viable credit damage case.
In addition, any documents including, but not limited to, credit scores, notices, monthly statements, and correspondence, should be provided as they will almost certainly be necessary to provide the proper foundation for credit damage claim(s).
Q. What is the Date of Injury?
- The date of injury is the first date that a negative remark appears.
Q. What is loss of credit capacity?
- Loss of credit capacity refers to the decrease of available credit and/or an increase in the interest rate for available credit, thus an increase in the cost of credit. Factors to be considered when determining whether there is a loss of credit capacity are:
- Because of the occurrence of the events giving rise to the case your client had available credit such as credit cards, a car/truck loan or lease, or a mortgage which have been adversely affected.
- Because of the occurrence of the events giving rise to the case, your client became unable to make timely payments and therefore credit cards were cancelled or credit limit(s) were lowered.
- Because of the occurrence of the events giving rise to the case, your client is denied credit to purchase or refinance property.
Note: Credit Capacity is eroded/damaged, if monthly payment amount is increased, or the number payments necessary for payoff is increased, or a credit account credit limit is reduced or the account is cancelled. Any of these may be considered when measuring Loss of Credit Capacity.
Q. What is loss of credit expectancy?
- Loss of expectancy differs from loss of capacity as it involves predictable and foreseeable future use of credit as distinct from credit capacity which involves the inability to continue to utilize credit as the injured person could before damage to credit.
- Credit expectancy has to do with attaining future lifestyle goals, thus there can be loss of credit expectancy when your client is unable to purchase the first real property, or the upgrade of vehicle, or obtaining a credit card limit increase as the client had a clear expectation to be able to do.
Q. What are increased out-of-pocket costs?
- Even when your client can still borrow or use credit, credit may cost more than it did before the occurrence of the events giving rise to the case because the creditworthiness of your client has changed detrimentally, not because interest rates changed. For vehicle or real estate purchases or leases, for example a higher down payment or increased interest rates reflect increased out-of-pocket costs to obtain credit.
- Thus, if your client’s credit card interest rate was 10% before the events of the case and since those events the credit card company has notified your client that the rate will increase, this is an increase of out-of-pocket costs. Any increase of out-of-pocket costs will be considered when measuring credit damage.
Note: If credit interest rate changes occur because of a general increase of rates, that is NOT credit damage.
Q. Aren’t credit damages speculative?
- No, they are not. Speculative damages are damages that are highly improbable or contingent on the occurrence of a non-scheduled or unexpected future event. They are speculative when the existence of the damage itself is uncertain. Credit damages are actual, they are not improbably or contingent on a future event. The determination of the value of the damages may be controversial, as may be the case with respect to any form of damages, and therefore they are subject to proof and the determination of the trier of fact. This illustrates the critical importance of determining whether your client has an actionable credit damage case and retaining the services of a qualified credit damage expert.
Q. Is your service different from that of an economist?
- Yes. An economist is not trained to measure credit damages. In many cases we recommend that an economist be retained in addition to make other determinations germane to the recovery of damages.
Q. Is your service different from that of an accountant?
- Yes. Accountants are trained to provide profit and loss related services or tax related services. Credit damage measurement is neither of these.
Q. How much can credit damages add to the value of a case?
- Each case is different and without reviewing the case documents or other information pertaining to credit damages, we cannot make that determination. Our policy is to accept a case only if credit damage will affect the value of the case by at least $30,000.
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