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Credit Repair Attorneys: What They Do, & When to Call One

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The “credit repair attorney” job title might be equally as foreign to you as the idea of attaining a good credit score. If so, you’re not alone. Poor credit and credit card debt happen to the best of us, but credit attorneys are here to help during these trying times.

At times it seems unfair how touchy this subject of credit is, but think of it as a survival of the fittest experiment: if you’re timely on your payments, pay attention to detail and avoid overspending, you’ll make it out alive with a good enough credit score to acquire all of the loans and assets you desire. This, like all things, is easier said than done.

So you’ve found yourself in a dilemma and it’s been years since you’ve checked your credit score. It turns out it’s less than ideal, and like most folks, you’re not an expert on the subject. That said, let’s take a step back to get a basic understanding of what a credit attorney can actually do given this situation.

What Credit Repair Attorneys Do

First off, let’s acknowledge the fact that not all credit horror stories are the consumer’s fault. In fact, in 2013, the FTC reported that 5 percent of consumers had detrimental mistakes on their credit reports, courtesy of their credit card companies. While errors like this are out of our control, it is imperative to further investigate and get a professional on your side to make sense of it all.

The first step a credit attorney will guide you through is thoroughly understanding your credit report. They will be the first to let you know if your flaws were self-inflicted or if the credit card bureau is to blame. If these hiccups are your doing, then they will discuss different options moving forward and how to improve your credit score.

One of the primary roles of a credit attorney is to empower and encourage you to negotiate with credit bureaus. So many consumers are hesitant to discuss their balances and fees, which ultimately leads to them paying too much on their overdue bills and interest.

While many of these tasks are feasible without the aid of a professional, a credit attorney will use their experience to cut corners and middlemen, and ultimately save you time and money while kick-starting your path to recovery. Knowing your rights and how to negotiate is more than half the battle with most credit agencies.

Credit bureaus are stubborn when it comes to reducing fees or removing negative items from your credit report. Chargeoffs, foreclosures and late payments are some of the most common culprits, but a qualified attorney will be able to convince creditors to have these removed.

A Closer Look at Credit

Most negative credit reports still have the potential to resolve themselves over time with regular, timely payments and responsible spending. However, the world we live in oftentimes doesn’t grant us that luxury of time. If you have no desire to purchase a car, decrease monthly fees or acquire a loan for you business, than perhaps you have seven years to kill; for most, however, that is not the case.

When dealing with credit, it’s crucial to think long-term. Yes, hiring a professional to assist in your credit repair is more costly than the alternate, DIY option. However, a credit attorney has the ability to lower interest rates more than you could on your own, which will save you thousands over time.

Negligence in the credit industry is not uncommon, and this is where a credit repair attorney will absolutely thrive. There notable are incidents where individuals receive their credit reports with the incorrect birthday or social security number, thus resulting in a completely flawed report.

Careless instances of this magnitude ought to be brought to court if denied by an agency, and having a specialized attorney on your side will almost guarantee a fruitful outcome.

While there are plenty of competent credit repair attorneys ready to assist you today, there are also those who are looking to take your money and run. Key signs to detect a credit repair scam are: asking you to lie about your current credit score for a loan or credit application, offering to sell you a new social security number or requiring payment before they offer assistance.

Starting Today, Take Back Control of Your Financial Future

Never hesitate to ask for assistance with your credit score from a qualified professional; your financial success depends on it.