When your credit report looks worse for wear, you may wonder what you can do to remedy these matters. However, you may come across credit repair companies claiming to fix your report easily. Despite how tempting this may sound, understanding the reality of these businesses and their limitations is critical. Before agreeing to work with a credit repair business, you’ll want to read this blog to learn what you must know about these matters and why connecting with a California credit report lawyer is in your best interest instead.
What Do Credit Repair Companies Do?
Credit repair companies tout their ability to help consumers turn their negative credit reports into positive ones. Generally, when you work with a repair company, they will request a copy of your credit report and review it for mistakes. If they find errors, they will dispute the inclusion of these mistakes with the reporting agencies to help remedy your credit score.
Why Should I Avoid These Companies?
Though, in theory, these companies sound incredibly helpful, you may be surprised to learn they may not be what they seem. Unfortunately, the credit repair industry is rampant with scams, which can negatively impact consumers looking for help.
One of the most common tactics used by illegitimate companies is having consumers pay upfront or even monthly subscriptions without seeing results. Many companies will claim that it can take months before they see results, all the while taking the hard-earned money of consumers.
Another common tactic used to scam consumers is to dispute legitimate charges on the account. In some instances, companies will dispute all negative charges on a person’s credit report, regardless of whether or not they are legitimate. As such, the reporting agency will remove the charge while they investigate, leading consumers to see temporary relief. However, they may find that the charges continue to be reported by the agency because they are correct.
Finally, when there is incorrect information on your credit report, you may find that the credit repair company disputes it’s inclusion using a templated letter. Because there is no specific information relevant to your credit report included, it may not be sufficient enough for the credit bureau to overturn the inclusion of the charge on your account.
Can a Lawyer Help Me?
If you are impacted by incorrect information on your credit report, connecting with an experienced lawyer is in your best interest to review your legal options. Unfortunately, you may find that working with a repair company can do more harm than good, wasting time and money. However, a lawyer can help examine the specifics of your case, craft a thorough dispute letter, and fight on your behalf against unfair credit report practices.
At Loker Law, we understand how difficult these times can be, which is why we will do everything in our power to help you fight for the justice you deserve. Contact our team today to discuss your circumstances with a member of our competent legal team.
