What separates CCDN Law from 99.9% of debt settlement firms is that CCDN actually uses a statutory federal complaint as a lever to compel extremely favorable settlements for the debtor. Most "debt settlement" firms follow the DMP plan which has the debtor put money into an escrow account on a monthly basis until it reaches a level that the debt settlement firm feels is enough to negotiate a settlement with the creditor or collector. Well over 90% of people who enter a standard DMP debt settlement program drop out within the first 9 months because in most cases they will either be sued by the creditor or the creditor will charge off the debtors account and sell it to a debt collector who will harass and eventually sue the consumer.
CCDN Law takes the litigious offense against the debt collectors by documenting the multiplicity of statutory violations and then presents the debt collector with a choice to either settle for in many cases a minute fraction of the debt outstanding, or go in front of a jury with the multitude of statutory violations. Most debt collectors do not want to go in front of a jury and explain why they so egregiously violated a consumers rights under the FDCPA, also there is collateral risk of a filed lawsuit by the consumer negatively affecting the debt collectors insurance costs.
www.ccdnlaw.com
Saturday, February 7, 2009
Tuesday, June 3, 2008
CCDN Progam
The CCDN Program consists of the following three phases, each with its own distinct purpose. We use a combination of laws including, but not limited to the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act (FDCPA), the Fair Credit Billing Act (FCBA) and any State Unfair and Deceptive Acts and Practices (UDAP) laws that support and help bolster our arguments.
Phase One- Credit Restoration begins as soon you enter our program and your paperwork has been processed and continues for 12 months. Our experience has been that the majority of negatives will be removed from a typical customers credit reports within the first 3 to 4 months of this process, but we will continue to challenge unverified information and monitor all customers’ credit reports for a full 12 months.
Phase Two- Validation and Reconciliation also begins as soon as your paperwork is processed. The purpose of this phase is to create an administrative record and establish as much information as possible as to the ownership and validity of the alleged debt. The process works through two levels. Firstly, we send out a series of proprietary letters at specific times to either the original creditor (OC) or the third party debt collector (3PDC) in an attempt to have the OC or 3PDC provide validation of the alleged debt. If they are unable to do so, we demand that they zero out our customer’s account and mark it “paid as agreed”. Secondly, these letters are also used to expedite the transfer of the account from the OC to the 3PDC at which time our correspondence is used to enhance our compliance audits in Phase Three. Phase Two usually takes from 3 to 8 months depending on the status of the accounts when the individual enters the program and the speed at which the various OCs and 3PDCs respond to our correspondence.
Phase Three- Federal Lawsuit begins at the completion of Phase Two. In Phase Three our paralegals conduct a compliance audit of each account of each customer. They then use their completed audits to compose a solid Federal Complaint, which is then sent on to one of our CCDN attorneys for filing in Federal Court. Said attorney handles this matter from here. Our experience has been that these cases rarely go to trial and usually settle over the phone usually within 1 to 2 months after the suit has been filed.
Copyright 2007. CCDNLLC
Phase One- Credit Restoration begins as soon you enter our program and your paperwork has been processed and continues for 12 months. Our experience has been that the majority of negatives will be removed from a typical customers credit reports within the first 3 to 4 months of this process, but we will continue to challenge unverified information and monitor all customers’ credit reports for a full 12 months.
Phase Two- Validation and Reconciliation also begins as soon as your paperwork is processed. The purpose of this phase is to create an administrative record and establish as much information as possible as to the ownership and validity of the alleged debt. The process works through two levels. Firstly, we send out a series of proprietary letters at specific times to either the original creditor (OC) or the third party debt collector (3PDC) in an attempt to have the OC or 3PDC provide validation of the alleged debt. If they are unable to do so, we demand that they zero out our customer’s account and mark it “paid as agreed”. Secondly, these letters are also used to expedite the transfer of the account from the OC to the 3PDC at which time our correspondence is used to enhance our compliance audits in Phase Three. Phase Two usually takes from 3 to 8 months depending on the status of the accounts when the individual enters the program and the speed at which the various OCs and 3PDCs respond to our correspondence.
Phase Three- Federal Lawsuit begins at the completion of Phase Two. In Phase Three our paralegals conduct a compliance audit of each account of each customer. They then use their completed audits to compose a solid Federal Complaint, which is then sent on to one of our CCDN attorneys for filing in Federal Court. Said attorney handles this matter from here. Our experience has been that these cases rarely go to trial and usually settle over the phone usually within 1 to 2 months after the suit has been filed.
Copyright 2007. CCDNLLC
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