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Credit Damage

there are legally accepted means for measuring loss of credit through the procedure of Credit Damage Measurement (CDM). CDM is fast becoming a potent tool for recoverable credit damage awards when the damage is not self-inflicted. Previously, both judge and jury, and especially the insurance companies, refused to acknowledge CDM claiming it was speculative because they could not define it as tangible damage.

However, in case after case, victims of credit damage who use the CDM method are getting compensation for credit loss. Many factors are changing the old mindset including credit bureau technology improvements, the application of the Fair Credit Reporting Act (FCRA), risk scoring sophistication, and the development of CDM as an objective, repeatable method that measures out-of-pocket damage reliably.

Credit Ratings and Recovery

The impact of a bad credit rating is much more significant than most people think. Consider what poorly rated consumers face when they want to lease or buy vehicles, obtain credit cards, buy or lease or refinance their residence. In most cases, it’s an easy decision for the creditor: the credit application is simply turned down or the borrower is charged a much higher down payment – maybe thousands

Some Ways Can Take to Get Paid

Gather together all the past due invoices, and stamp them PAST DUE.

If you have an email address or phone number with a contact name for your client, email them or call them and give them the information on the past due invoices and let them know their account is on hold.

Mail the invoices to your client with return receipt requested or send them in a flat rate Priority Mail envelope with delivery confirmation.

Send a letter with these invoices stating the age, invoice numbers, their PO#, your account #, total amount due, and any other pertinent information.

Tell them their account is on hold and you will not be shipping any more products or providing any services to them until these invoices are paid. You can include a self addressed envelope and state that you have enclosed an envelope for them to send their check. Give them a date, to have this paid to you.

Once they have received the package, email or call them. Ask them what they are doing with the invoices. Ask them questions such as:

Do they have to be approved by someone else?

If