Categories: Credit Restoration

Working with a Credit Restoration Law Firm

In a study by the Corporation for Enterprise Development (CFED), they found that more than 50 percent of American consumers actually have bad or subprime credit scores. And in a report from CNBC, 1 in 10 Americans do not even have any credit history.  This means that most Americans do not have access to the best interest rates from lenders. After all, these rates are normally reserved for people with good credit scores.

The challenging part is that rebuilding a bad credit score is no easy feat. One late payment can be reported on your credit score for several years. If you want to build your credit score back up, you may need some assistance from experts on the field.

Getting a credit restoration law firm to help

The first question that most people ask is why should they hire a credit repair law attorney to help them when they can do it themselves. The first answer is that if it is that easy, they would not be in that position in the first place. While it may have been caused by a sudden life-altering situation like job-loss or illness, you could have still had done some steps to not let your credit score get so low.

Second answer is that while it is true that you can do it yourself, an expert in the field can do more. You are paying for the years of experience and skills that are devoted to getting people who have bad credit score.

What does a credit restoration law firm do?

The main responsibility of the credit repair law firm is to make sure that your rights under the Fair Credit Reporting Act (FCRA), Fair Credit Billing Act (FCBA), and the Fair Debt Collections Practices Act (FDCPA) are exercised. These laws give you the right to question and dispute items on your credit score that are inaccurate.

Your credit restoration attorney normally has two avenues that they explore in helping you correct these inaccuracies in your credit history. The first one is through credit bureau dispute. Through FCRA, you are given legal right to dispute and delete some questionable items in your credit report. Your attorney will go through each item and help you identify those that could be classified as inaccurate, misleading, incomplete, untimely, biased, or unverified.

Once these items are identified, they are disputed with the credit bureau and an investigation has to be done to determine if they should actually be listed on your credit report. If the bureau cannot verify the accuracy of the item then the bureau is required to either correct the listing or completely remove it from the report.

Another method that your lawyer can do is to work with your creditors directly. Creditors have the ability to remove negative items from your report anytime; and the cooperative creditors are usually willing to work with you and all you have to do is formally ask.

If they are not very cooperative, your lawyer can pursue legal means on your behalf to force creditors to prove that the items are accurate. Sometimes, it’s best to hire an expert – and in the long run, it can even save you money.

About Chad Van Horn

Chad T. Van Horn, Esq. is a South Florida business leader and founding partner attorney of Van Horn Law Group, P.A. Through a combination of dedicated philanthropy, spirited entrepreneurship and legal expertise, he applies his resources and network to helping people. Learn more about Chad Van Horn

Published by
Chad Van Horn

Recent Posts

What to Know About a Motion to Redeem a Vehicle in Chapter 7 Bankruptcy

One of the most frightening prospects of bankruptcy for many people isn’t what stands to be gained - as in… Read More

3 days ago

Is there a Statue of Limitations for a Judgment Against Me?

Twenty years from the formal date of entry of the judgment against you, your outstanding debt is still actionable from… Read More

2 weeks ago

How Can I Tell Which Bankruptcy Solution is Right for Me?

Here’s more of what you need to know about your bankruptcy solution options. Read More

3 weeks ago

Florida Private Student Loan Statute of Limitations

In the state of Florida, the private student loan statute of limitations is typically five years. Read More

1 month ago

How Should You Answer a Debt Collection Lawsuit?

Best practices for immediately after you are served with a debt collection lawsuit. Read More

1 month ago

Benefits of Chapter 13 Bankruptcy vs. Debt Consolidation 

When weighing two vastly different approaches like chapter 13 bankruptcy vs. debt consolidation, staying focused on your individual goals is… Read More

2 months ago