Credit Damage Blog

The CreditDamageScoreFinder© is the most important tool available for determining whether you have actionable credit damages in a personal injury or wrongful termination case. The score obtained will indicate one of four different possibilities:

• 0 – 5: Credit damage case is marginal; continue to monitor for more indications of credit damage.
• 6 – 10: Significant credit damage is likely; begin to assemble documents; obtain fresh commercial credit report.
• 11 – 15: There is definite measurable credit damage; contact credit damage expert.
• 16+: Significant credit damage; retain credit damage expert immediately to include credit damages in damage demand.

Understanding the information utilized to obtain the score will help you understand the elements of credit damage.

The CreditDamageScoreFinder© for personal injury and wrongful termination cases calls for information in eight areas:

• Lost Earnings
• A minimum of 6 to 8 weeks of lost wages or equivalent commissions will be necessary in most cases to trigger the likelihood of a credit damage claim.

• Conversion of Funds to Maintain Lifestyle or to Make Payments
• The necessity to prematurely dip into retirement funds, borrow money from friends or relatives, or divert money from cash flow to maintain lifestyle or make payments are all indications that a credit damage claim may be viable.

• Mortgage
• Late payments, denial of a mortgage to purchase property, and denial of an application to refinance are all indicators of credit damages.

• Credit Cards
• Cancellation of a card or cards, increased interest rates, and lower limits all reveal credit damage.

• Financial Relief
• Filing for bankruptcy, discharging debts in bankruptcy, and utilizing the services or a credit counselor can all reveal credit damage.

• Insurance
• If a policy is cancelled, rates are adjusted or renewal is denied demonstrate credit damage.

• Line of Credit
• Refusal of credit or a home equity line, refusal of refinance or upward adjusted interest rates are signs of credit damage.

• Accounts in Collection

The CreditDamageScoreFinder© is a powerful tool to enable you to evaluate the next steps to take in regard to making a claim for credit damage. You will probably want to wait two months from the date of injury, while the elements of credit damage are developing, to utilize the CreditDamageScoreFinder©. Even then a low score may only signify that still more time will be necessary to allow the indicators of credit damage to develop a higher score. On the other hand, bear in mind that even a high score is only indicative of the possibility of substantial credit damage. Only the analysis provided by a credit damage expert can be definitive.

For more information visit the web site of the credit damage expert, Georg Finder.