With a poor credit score planning to make a big purchase like buying a house or an automobile or any other loan from a bank or a financial institution is only a dream for some. They cannot make it happen in real life as credit score is the first step that any financial institute would need before giving you any loan. Poor credit history and lower score can also affect your employment and living conditions. Hence, understanding one’s credit report and how it works becomes very critical.
What is a credit report?
There are three national credit bureaus (Experian, Equifax, TransUnion) that produce a credit report and based on the report assign a credit score to an individual. A credit report is based on the information provided by the creditors (lending companies) about your credit and payment history.
Why does one get lower credit score?
A poor credit report could be a result of multiple factors:
- Bankruptcy
- Foreclosures
- Defaults; Failure to make payments towards your loans
- Late or missed credit card payments could also negatively impact the report
- Errors in the credit report
- No available credit history (In some cases)
It is important to note that it is the individual’s responsibility to ensure that there are no errors in the credit report. A credit report error can affect your credit score negatively. It could be a simple error like wrong date entry for a missed payment to a creditor. This could cost you a few points on your credit score. In many cases, people are unaware that their credit scores are lower. These lower scores could be attributed to such errors in the credit report that the individual is not cognizant of. Fixing these errors and other factors (that could influence your credit score) could make your poor credit history a matter of history.
How can we assist you?
All the three credit bureaus have an online process in place to fix errors in your report. Remember that you cannot dispute your credit score. However, you can dispute the information provided by the creditor in your credit report. And to this effect all the three credit bureaus have an online ‘file a dispute’ process. At face value it appears seamless and easy, in reality, you might find yourself in a situation that is not very consumer friendly. It then becomes a daunting affair. Do not let such a situation deter you from fixing your poor credit.
Our law firm can assist you with rebuilding your credit history. Unlike navigating a tedious online portal, our qualified attorneys can make it simpler for you. Here’s how we do it:
- The credit counselor and or the attorney will first request for your credit report from the three credit bureaus.
- He or she will then take a close look at your credit report and identify any entry or information that might be inaccurate or questionable or negotiable.
- They will then assist you with filing a dispute with the credit bureau and try to get them to remove the entry from your credit report. This will result in improving your credit score which will then be fruitful in repairing your credit score.
A chat with our credit counselor and/or our attorney can save you a lot of time, effort and mental stress. Rebuild your life and start fulfilling your dreams by reaching out to our law firm, Legal Rights Advocates at (855) 254-7841 and ask for a free consultation today. We are here to walk with you all the way and get you back on track.
(855) 254-7841
(855) 254-7841
