How to Avoid Credit Attorney Scams
Credit Repair Attorney: How to Decide if You Need One to Clean up Negative Items
Fixing a bad credit report is not a pleasant experience. There are basically two ways of going about the credit repair process.
Many people decide first to fix their own credit only to discover the process is much more involved than they expected. This is because they are trying to save a few dollars by going the inexpensive route.
Unfortunately you may discover that repairing bad credit is one of those projects that only appears easy. There is so much to the process including legal research and writing, which is challenging even for credit lawyers at times.
If you are not the type of person who enjoys legal research in your free time, or don’t have patience for translating wordy statutes and confusing case laws from around the country, then this might not be for you. But if you are determined enough to plow through the stacks of law books, then you should expect to spend at least a a few Sunday afternoons researching applicable credit laws at your local library.
Assuming you are able to understand the case law and statutes, then you have to move onto the more important part of credit repair. The next step is to write a coherent and compelling dispute letter. You will need to cite the applicable case law and disputed items.
For example, the credit bureaus are trained to be on the lookout for those people trying do it yourself credit repair. They can easily spot the dispute letters written by amateurs. This can be a problem since credit bureaus are infamous for ignoring badly written dispute letters.
Even if you are a good writer, you probably are not going to enjoy standing in line at the post office. To ensure your dispute receives a proper investigation, you will need to mail the letter via United States Certified Mail.
By now you are probably wishing you had more free time. Mailing dispute letters via certified mail takes a lot of time. Unless you are extremely casual about how you spend your free time, this is probably not worth your time.
Disputing bad credit errors on your own also takes an organized office space and a strategic plan. For example, you will need a spreadsheet to track the progress of each disputed item. Plus, you will need to give yourself reminders or some type of alert in the event the bureaus or creditors have allowed the proper investigation period to expire.
As you can see credit repair is not a fun experience. There are so many better and more efficient uses of your time. Plus, it is difficult to learn and apply complex legal statutes and case law to your unique credit experience.
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Is Credit Repair Legal
As you research credit repair online, this will most likely be a question you will be asking yourself. Amidst all the information that is online regarding credit repair, you might begin to wonder if credit repair is actually possible, or even legal. To put your mind at ease, yes, credit repair is indeed possible and legal and it is a right which the U.S. government protects.
Credit Bureaus and Creditors Want You to Have Bad Credit
Big lending corporations, credit bureaus, and creditors would like you to believe that credit repair is neither possible nor legal. Remember to consider the source of this information.
How does it benefit these businesses if you take away their ability to collect debts? The answer is it DOESNT. If your credit report is accurate, they stand to lose, not gain. This is where the common myths about online credit repair originate.
With regard to your legal rights, the Fair Credit Reporting Act (FCRA) was enacted to protect your right to challenge any negative entries or information shown on your credit report. This is information which the lending agencies would prefer you didn’t know.
If you decide to dispute any negative information on your credit report, the FCRA requires creditors and credit bureaus to investigate your claim and report back to you with their findings. They may take up to 30 days to investigate and, if the negative entry cannot be verified, it must be deleted. This is one way of legally rebuilding your credit and boosting your credit score.
Fixing Your Credit Report Can Be Quick and Relatively Painless
The FCRA protects your right to challenge any negative entry on your credit report which, if not erased, will remain on your credit report for up to 7 years. If rebuilding your credit is something you would like to try, partnering with a legal professional would be a good idea. Consider contacting a credit attorney at Lexington Law for some guidance as you begin your credit repair journey.
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