The Fair Debt Collections Practices Act and How To Remain Credit Worthy With Platinum Law Group

BEVERLY HILLS, CA, June 20, 2011 (Press-News.org) The Fair Debt Collections Practice Act and Platinum Law Group
Debt settlement with Platinum Law Group is a legal option that is available to the financially strapped consumers who are struggling to recover from damages that a debt collector has endowed on debtors in order to get their money.
In spite of the fact that it is illegal to harass debtors and violate their rights, a debt collector may hire a third party in order to harass a debtor. Platinum Law Group informs clients of their rights as consumers and the rights of the debt collection agencies in order for clients to get a better understanding of their situation.

Debt settlement services offered by Platinum Law Group may be strong medicine for your debt harassment problems. Platinum Law Group debt settlement should be considered by all individuals who have fallen behind on their debt obligations and are being harassed by a debt collector.

Repairing Your Score to Remain Credit Worthy with Platinum Law Group
Platinum Law Group tells us that the impact on your credit score will depend on how good your financial history is to start. With Platinum Law Group, it is a fact that a person with a good credit score will see more of an impact on his score than a person with a low score. Here are some ways Platinum Law Group can repair your credit and bounce you back into your personal financial life.
 
1. Platinum Law Group recommends that you keep some accounts open: If you've gone through debt negotiation, Platinum Law Group notes that most debt consultants will ask you to close accounts that have been repaid through effective debt negotiation. Other than such closed accounts, if you still have some accounts that are not included in the debt settlement deal with Platinum Law Group, you must keep them open in order to rebuild your credit score. By keeping such accounts open, Platinum Law Group has seen that you obtain the opportunity to build your credit score and become creditworthy. Opening new lines of credit in future will become easier by going for immediate credit repair.
 
2. Platinum Law Group recommends that you make regular payments on your debt accounts: If you still have some debt accounts that have not been settled through Platinum Law Group, you must make certain that you make timely and regular payments to those accounts. Platinum Law Group knows that most likely when you were going through credit crunch, you already started paying late and missed payments. Therefore, now its time for you to make amends for your past actions and make timely repayments towards the loan accounts. Platinum Law Group wants you to know that when credit bureaus calculate your credit score 35% of it is decided by this factor. Hence, getting back on a payment schedule is very important for bouncing back after a settlement with Platinum Law Group.
 
3. Platinum Law Group recommends that you open a savings account: As the credit bureaus have come to know you as a financially irresponsible person, your first action must be to prove them wrong. Platinum Law Group recommends that you open a savings account and show them that you're trying hard to save money and get back on track. Not only will this have a positive impact on your score but it will also enable you to put aside money that could be used for future financial purpose.
 
4. Platinum Law Group recommends that you pay down maxed out balances: Many people with a poor credit score have multiple credit cards that have been maxed out long ago. If this is the case with you, you must make a special effort to pay down the balances on such cards as soon as possible. Platinum Law Group informs us that the amount of money that you have in your credit accounts is also another factor that is taken into consideration while determining your credit score. Pay down balances to bump up your score.

Going through the steps mentioned above will help you rejuvenate your financial life after a settlement. Platinum Law Group will help you in getting out of debt but you have to be careful to keep your options open for the future.

Platinum Law Group is a consumer rights firm. For more information contact Platinum Law Group by phone today at (877) 734-3033.