Credit repair is the process of rectifying the information in your credit files that the main credit bureaus use to construct your credit reports. You can repair your credit by yourself, with the assistance of a credit repair company, or with the assistance of a credit lawyer.
A credit lawyer, also known as a credit rehabilitation lawyer, is an attorney who is trained to assist you in repairing your credit and dealing with debt collectors.
In reality, there is no such thing as a credit lawyer. In any case, not for the legal industry. The legal sector recognizes the terms “personal injury lawyers” and “bankruptcy lawyers,” but not “credit lawyers.” However, the general public uses the phrase credit lawyer to refer to an attorney who specializes in credit restoration.
And, because rebuilding your credit may be a difficult and time-consuming operation, sometimes doing it yourself isn’t an option. Then you may need — or want — to consult with a credit lawyer or a lawyer who specializes in credit rehabilitation.
If you’ve ever missed a credit card or utility payment or had a vehicle repossessed, your credit has suffered. These blows can add up and cause damage that can take months or years to repair. And credit bureaus, credit card firms, and other lenders are unconcerned about your situation. What they care about is that you pay your bills on time.
You must get inaccuracies and negative things removed from your credit report to repair your credit. Missed payments, debt collections, repossessions, tax liens, and judgments are examples of negative items. It is sometimes possible to handle poor debts or credit problems independently. However, in other circumstances, the problems are more serious, creditors or bureaucracies are unhelpful, and assistance is required. And a credit repair service or a credit lawyer may be exactly what you need to get your credit back on track.
What Is the Role of a Credit Lawyer?
Your credit may need to be repaired due to an incorrectly reported late payment. Someone else’s information has made its way into your file. Or perhaps you have a persistent dilemma of your own.
Assume you were laid off a couple of years back. You could not make your automobile payment and were forced to rely on credit cards to survive and provide for your family. Your credit card debt escalated to more than $30,000 without your knowledge. You couldn’t make the monthly payments, and debt collectors are still calling your phone every day, attempting to collect on what you owe on your credit cards, and your car was repossessed.
You’re back on track with a job, but you’re still in debt, and those negative things have wreaked havoc on your credit report.
This is where a credit lawyer can come in handy. A credit lawyer works on your behalf to:
- Collaborate with the credit bureaus to have inaccuracies removed from your credit record.
- Collaborate with the credit bureaus to get negative things removed from your report sooner rather than later.
- Negotiate with debt collectors for a fraction of your initial amount or a feasible payment plan of some kind.
- If your creditors initiate legal action against you, we will represent you in court.
A credit lawyer will first look over your credit history to check any inaccuracies in your report. The lawyer will then look for ways to raise your score. Negotiating with credit reporting bureaus is one example. These agreements can also pave the way for errors and other negative entries to be erased, so if you’ve previously had late payments, a foreclosure, or a car repossession, the credit lawyer may be able to get these removed.
Furthermore, the lawyer might negotiate so-called settlement sums with the creditors. So, if you owe a huge sum, your credit lawyer may be able to lower it greatly. Finally, if a credit bureau decides to launch a lawsuit against you, the lawyer can represent you in court.