Should I Hire A Credit Lawyer?
According to the National Foundation for Credit Counseling, about 38% of Americans struggle with their credit and have at least $5,000 worth of debt. If you’re one of the many Americans struggling with their credit and debt, you might want to consult a credit lawyer. When thinking about credit repair, and where to go to fix your credit, many people immediately think of a credit repair company. Credit repair companies are created to tackle broader disputes throughout your credit report and lack the legal knowledge to fight the disputes accordingly. Although there is no such thing as a definitive ‘credit lawyer,’ many attorneys base their practice around correcting credit scores. With Pride Legal’s wide network of independent attorneys, we can help find the best attorney for your circumstance. Many of these companies hire employees that dispute general cases and usually have multiple clients at once, lacking the prioritized experience a credit lawyer would offer you.
You Get What You Pay For
Credit lawyers fight with legal knowledge to dispute every charge put onto your account. Your attorney will work with debt collectors, file disputes, settle with collection companies, and represent you in court. Credit repair companies do not have the power nor the legal knowledge to be able to represent you in court.
Fighting Harder Disputes
Often times, collection companies do not want to budge and refuse to erase delinquent payment notices from your account. Credit attorneys can help fight collections agencies and possibly erase your credit payment notices, or help settle the payments for a fraction of the cost. Credit attorneys work by reviewing your score and resolving any existing disputes or errors. If necessary, your lawyer will be able to represent you in court. Credit repair companies are legally unable to represent you in court. Credit repair companies will at most file disputes on your behalf.
You Won’t Have To Waste Time
By consulting a credit lawyer, you have the legal expertise to guide you through your credit repair. Fixing your credit score can be time-consuming and difficult, often with no luck. By hiring a credit attorney, you can sit back while he/she does all the work. Your attorney will attempt to settle with collectors for much less than what you owe, allowing you to save money in the long run.
Lawyers Can Fight
Credit repair companies lack the legal experience and knowledge that credit attorneys have. When a credit repair company is hired, their job is to examine your credit report, find any disputes or claims, and resolve them. Credit repair companies lack the legal authority to resolve your claim once it has been denied. A credit attorney, on the other hand, will be able to appeal the dispute and settle at a fraction of the payment. Repair companies typically do not fight declined claims, as they lack the inclination to do so.
Slander Of Credit
The pillar of our financial lives is credit. When purchasing a home, car, or applying for a business loan, your credit score is almost always the make-or-break. False or inaccurate claims on your credit report may jeopardize your access to such financial opportunities. If your bank, mortgage lender, or collections agency has placed false or inaccurate claims on your credit report, you may be able to sue them for slander of credit.
If you have been a victim of credit slander, a credit attorney may help you receive compensation based on the damaged you occurred from the slander of credit.
Go Over With Your Attorney Credit Laws
Several laws have been enacted to help Americans repair their credit. Laws like the Fair Credit Reporting Act (FCRA) regulate how credit bureaus use your information. Under the FCRA, businesses and consumers credit reports’ are protected under certain circumstances. In some instances, creditors can go after your wages if unpaid bills remain. An attorney may help you fight these charges and protect your assets.
Continue To Help You Increase Your Future Score
Increasing your credit score won’t be possible if you don’t fix your past mistakes. Continuing to make payments on time, and settling more debts will further increase your score and show creditors that you are attempting to fix your mistakes. With the help of your attorney, they will give you tips on how to further increase your credit score, such as opening up a new credit card with no balance on it.