Do you have bad credit? Maybe, you’re trying to correct a mistake on your credit report? If so, then this article about what a credit repair lawyer does, is definitely for you. No matter what type of negative marks you have on your credit: whether it’s bankruptcy, late payment, charge offs, liens or judgements, you have legal rights under the Fair Credit Reporting Act, to challenge and get items removed that are outdated, not accurate, misleading or flat out wrong. A credit repair lawyer can give you advice and information on what your legal rights are. They can also get you information on how you can legally remove negative marks from your credit report once and for all.
Why is your credit report important? Well, your credit report is a big determining factor in how creditors and lenders asses their financial risk in giving you a line of credit or a loan. Credit reports are given by credit reporting agencies, sometimes referred to as credit bureaus. Like any company that collects massive amounts of data, sometimes these agencies make mistakes and place incomplete or inaccurate information on your report that could lead to serious repercussions.
Some of the problems you may incur, include being denied loans or credit, paying higher interest rates than someone with a better credit score, getting reduced lines of credit, denial of insurance, and lost employment opportunities. These are just a few of the reasons why having a credit repair lawyer is so important in fixing any credit issues before they begin to negatively impact your life.
There are many great credit repair lawyers out there who’ll do everything they can to help you rebuild your credit. However, be aware of companies and people who make claims that are too good to be true, but aren’t able to follow through when the time comes. Some of the more unsavory companies may try and convince you to get a different Social Security Number or apply for an Employer Identification Number, in an effort to make a new credit report. Do not do this! If you do this, you risk being charged and convicted of wire or mail fraud, for using the phone or mail to apply for credit while providing false information. This is a federal crime! Do not misrepresent yourself under false pretenses no matter what someone tells you.
Hopefully, this article on credit repair lawyers, has shown you how important they can be if you ever find errors or have issues with your credit report. Always be sure to do your research before choosing a lawyer. Make sure to find one that fits all your needs while staying within your budget.