Adverse Debt

Adverse debt refers to any outstanding debt that has a negative impact on a person’s credit history and credit score. This type of debt is typically delinquent or in default, meaning that the borrower has failed to make payments as agreed upon with the creditor or lender. Examples of adverse debt include unpaid credit card bills, medical bills, personal loans, and overdue mortgage payments.

Having adverse debt on your credit report can make it difficult to obtain credit in the future, as lenders and creditors may view you as a higher-risk borrower. This can result in higher interest rates, lower credit limits, and even denials of credit or loan applications. It’s important to address adverse debt as soon as possible and work to remove it from your credit report in order to improve your credit score and financial standing.

Our legal professionals at Mi Law Legal can definitely assist consumers with adverse debt through a series of professionally curated Adverse Debt Removal products. For instance, if there are errors in the information being reported about the debt (such as incorrect amounts, dates, or account numbers), Mi Law Legal can help dispute those inaccuracies with the relevant credit bureaus or creditors. This could result in the adverse debt being removed or corrected on the client’s credit report.

We can also negotiate with the creditor or debt collector who is reporting the adverse debt. This could involve seeking a settlement agreement, payment plan, or other arrangements that satisfy the debt while also ensuring that it is removed from the client’s credit report.

At Mi Law Legal we understand that every situation is unique, and the best approach for removing adverse debt will depend on the specific circumstances of the client’s case. By leveraging our wealth of experience and legal expertise we can help assess every circumstance and recommend a course of action that is tailored to the client’s needs and goals.