In a study conducted by the Federal Trade Commission, researchers found that five percent of consumers had an error on one of their three credit reports. The researchers of this study described the results of their findings as “eye-opening” for American consumers and warned of the effect credit report errors can have on a person’s credit score and ability to get a fair loan.
Unfortunately, the burden of checking credit scores for errors falls on the consumer. In most cases, it’s up to you to alert the credit bureaus of any errors in your credit score. Trying to fix your credit score on your own can be confusing and time-consuming. Consulting a skilled credit card lawyer is the best way to ensure that your credit report lacks any mistakes.
What Is a Credit Card Lawyer?
Credit card lawyers are well versed in credit-related laws and work with clients who are trying to repair their credit. When you consult with a credit card lawyer, they will most likely do the following:
- Review your credit report for any errors
- Gather evidence to prove why your credit report is incorrect
- File disputes with any of the credit bureaus who are reporting inaccuracies in your credit history
- File a lawsuit if those error disputes are not resolved
- Possibly win their clients damages for credit reporting errors
- Settle your debt with collection agencies, creditors, and opposing laws firms
- Provide advice on the best strategies for improving your credit score
- Communicate with various creditors on your behalf and represent you in court
Credit card lawyers usually start by thoroughly reviewing your credit reports for errors. If they find that there is incorrect information in your credit history, they will start to gather evidence and file a credit dispute with the credit bureaus. In some cases, the evidence provided by a credit card lawyer will be enough for the credit bureaus to change any wrong information. However, in other cases, a credit card lawyer can file a federal lawsuit under the Fair Credit Reporting Act (FCRA) to remove the error and possibly win the consumer monetary damages.
Credit Lawyer vs. Credit Repair Companies
Credit repair companies are organizations that handle a variety of credit reporting issues. Conversely, a credit card lawyer is well-versed in laws pertaining to credit. When working to improve a person’s credit, they draw on their experience from previous legal cases. Both credit repair companies and lawyers have unique advantages.
Usually, credit card repair companies have experience in a wide range of credit problems. Credit repair companies employ a lot of staff and utilize many techniques to improve a credit score. However, many credit repair companies don’t employ lawyers and therefore have little or no legal remedies if error disputes are not resolved. In contrast, credit card lawyers can take legal actions, like filing a lawsuit, to resolve credit reporting errors. Unlike credit repair companies, credit card lawyers can take disputes a step farther with litigation and force stubborn creditors to remove negative and false information.
Do I Need to Work with a Lawyer to Fix My Credit Score?
Take a look at your credit report. If you are in the five percent of consumers with a credit reporting error, you should consult with a credit card lawyer. You probably do not have the time to thoroughly go through your own reports for errors, educate yourself on credit laws and consumer rights, and communicate with the credit bureaus. It is probably in your best interest to work with a credit card lawyer who can complete this work from beginning to end.
Consult a Skilled Debt Settlement Lawyer
If you are struggling with credit card debt, you are not alone. At McCarthy Law, we are dedicated to helping our clients navigate their financial circumstances and reach a favorable debt settlement. We understand the overwhelming burden that debt can have on a person’s life and are committed to helping clients end the cycle of credit card debt.
To schedule a consultation with one of our skilled debt settlement paralegals, call our office at (855) 976-5777 or fill out our online contact form.