The credit information in your credit report lawyers is an extremely powerful tool that is used by lenders, employers and others to determine a number of different things about you. From your financial stability to the likelihood of being approved for a mortgage, loan or job, having a clean credit history is vitally important. However, mistakes do occur and when they do, they can significantly impact your life in a variety of ways.
A credit report lawyer can help you to dispute these errors and ensure your rights are protected. Federal laws such as the Fair Credit Reporting Act set out specific rules for how credit reporting agencies and furnishers must process consumer data. When these companies violate your rights, you can take legal action against them and, in the case of debt collectors, can also pursue monetary damages.
Demystifying the Role of Credit Report Lawyers in Your Financial Life
When it comes to disputing a credit report error, it is best to begin by sending a written letter (preferably certified mail with a return receipt requested) to the credit bureau in question, addressing each mistake, and providing documentation of your claim. The credit report lawyer you hire can assist with this step and make sure the letter is clearly written, concise, and contains all of the necessary information to get the disputed information removed from your credit report as soon as possible.
Errors that commonly occur include evictions or rental information being incorrectly reported; re-aging or updating account balances; reporting debt as recently paid or discharged in bankruptcy; and more. Your credit report attorney can help you to address these problems and recover any damages resulting from them, such as lost employment, credit denials, or mortgage or loan rejections.