A credit repair attorney will often use the credit report dispute process to remove incorrect and questionable information from your credit reports. This is something you can do yourself however it will require time, money, and likely some headaches on your behalf.
1. How Does a Credit Repair Attorney Work?
Frequently a credit attorney will do all the leg work to file your credit report dispute and remove incorrect information from your credit reports. They will communicate with all 3 of the major credit bureaus to get your credit history corrected.
The credit bureaus are required by federal law to investigate consumer disputes. However each time the credit bureau conducts an investigation into a dispute, the credit bureau must spend money that is otherwise profit.
Did you know the credit bureaus are for profit businesses?
This is why Congress passed the Fair Credit Reporting Act in 1970. This law requires the credit bureaus to investigate consumer disputes, despite the credit bureaus having to spend money to do this.
2. Avoid An Individual Credit Lawyer
You should avoid hiring a single credit attorney to work for you. And never pay an hourly rate for credit repair help instead, look for a credit repair firm or a group of lawyers.
You can expect that the lawyer will probably not spend much time with your credit report case specifically. Instead, a paralegal will probably handle the majority, if not all of your credit repair efforts.
3. How To Avoid A Credit Repair Scam
Yes, it’s true the credit repair industry has experienced some bad apples and less than reputable companies conducting business. But our government responded! Did you know that there is federal law that regulates credit repair services and credit lawyers?
This federal law is called the Credit Repair Organizations Act (CROA). Any credit attorney or law firm your considering should tell you they have been fully compliant with this federal law. If they don’t, then find another group of credit attorneys! This law will make sure that you are not getting scammed and that the attorneys are working within federal laws to provide you with clean credit.
4. Age of The Law Firm?
How long has this business or credit repair law firm been in business? The longer a credit repair lawyer has been in business generally means they are following regulations and working within the law.
5. Look For A Refund
Repairing bad credit is similar to repairing a broken down car. When you take it in to be fixed there may be more problems than you initially suspect. There is no guarantee that a mechanic can fix a broken car and there is no guarantee that a credit attorney can fix a bad credit history.
While there is no guarantees with any reputable credit repair company, you should instead be provided a refund offer. If for any reason your not satisfied with the progress or their work, then you can request to cancel the service and have your money refunded.
6. How Much Does It Cost?
You should only pay a monthly fee which could range on the high-end of $100 and as low as $79. But never pay an hourly fee because that will result in a much more expensive bill for you.
There is also an intake fee or first work fee of around $100. Of course, these numbers are only the common prices, you should always double check the fee schedule of any credit repair attorney before hiring them to work for you!
As you probably already know a bad credit score cost you a tremendous amount of money every year. That cost compared to an affordable credit repair bill even if it takes a few months to get a good credit score is very reasonable.
7. How Long Does It Take?
You should expect to use a credit attorney for at least a few months. Depending on the amount of work you need will depend on the amount of time you should use a service. On average it’ll take in the ballpark of 6-12 months to repair credit history.
You don’t just have to live with these expenses! When you can get approved for most financing and with low interest rates, you can afford a better lifestyle even with the same income. Get a free credit consultation by calling toll-free 1-877-418-7596. For more tips and strategies with Dan Willis sign up for our free newsletter.
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