Credit Lawyers - How Can They Fix My Credit

Credit Lawyers - How Can They Fix My Credit

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Credit lawyers are experts in our constantly evolving federal consumer credit laws. However they primarily will work under the Fair Credit Reporting Act also called the FCRA. This legislation that was passed by Congress was created to protect you and gives you the right to the following things:

- You can dispute any item you believe to be inaccurate on your report

- The bureau must investigate the item and either correct the item or remove it from your report if it can not be verified

- The longest amount of time an item can remain on your history is seven years

Clearly this legislation was one time when citizen interests won out to big business. First let's talk about the dispute process. If you hire a law firm your first step is to forward your reports to them and tell them what item you want to dispute.

You can dispute every negative item without any fear of legal repercussion. The requirement an item has to meet for you to be legally able to dispute it, is just you feel it is inaccurate. It can be an inaccurate balance, dates, the debt is paid …

In other words it is completely legal to remove bad credit from your file. Further, the FCRA says an item can remain for a maximum of seven years. It makes no mention of the minimum amount of time an item must remain, so the next time you hear someone say "credit repair is illegal" you will know better.

Part of the reason people believe it is illegal or that it is an incredibly difficult process is due to the bureaus. They have spent millions if not billions of dollars perpetuating these myths in our culture. Additionally they have influenced Washington and law makers to compromise on this law.

The big compromise is that before a dispute is investigated it must be deemed valid. The bureaus are in charge of making this determination. Let me also mention that the bureaus spend money investigating disputes, they do not earn anything. They only earn money when they sell your information, therefore they have no financial interest in if your information is accurate or not.

While the bureaus are in charge of deciding what disputes are valid, they have one of the worst records in regulated business history. The bureaus are routinely fined by the FTC for violating the FCRA. The most publicized occurrence was this decade the bureaus were mandated to open toll free numbers for consumers to call in with their disputes.

Great idea in theory however the bureaus were not forced to hire employees to answer these phone calls. Finally all three bureaus were fined for this practice. The bureaus will do everything legal and sometimes cross the line to avoid conducting an investigation or in other words spending profits.

However you don't just have to live with these negative marks on your file. Either remain persistent in your dispute efforts or consider hiring a professional. They will handle the dispute process for you and you just sit back and watch your report clear up.


About the Author:
For a free credit consultation call 1-800-232-2903 or to learn more about Credit Lawyers and Credit Repair Services visit us.



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