Credit Reporting Errors Attorney in Charleston
Charleston Credit Repair Attorney: Choosing the Right Helpers
When you need to repair your credit, it’s best to avoid credit repair services that seem shady or dishonest. According to the Federal Trade Commission, dozens of businesses use TV advertising to let you know that they can repair your credit in a matter of minutes. Some advertisements say that you can “create a new credit identity legally” or claim that they can “erase your bad credit 100% guaranteed.”
While some of these businesses may truly be able to help you with your score, attorneys say that the advertisements are most likely the start of a scam. Legitimate credit repair operations don’t typically make claims like this. You can improve your credit report but you may want to steer clear of services offering a cheap and fast alternative. Instead, repairing your credit will take a conscious effort and a whole lot of time.
You will want to stick to a personal repayment plan, and may even need an attorney to help you. Our team at Traywick Law Offices can answer your questions. Call us at (843) 606-5909.
How to Detect a Credit Repair Scam
If you choose to work with a credit repair agency, then you need to be extremely cautious as you work to clean up your report. Every day, unscrupulous companies target consumers with poor credit histories and promise that they can make the unimpressive number disappear. In many instances, these credit repair agencies will claim that they need money up front and then they will be able to quickly fix your report so that you can buy a car, apply for a mortgage, or work towards another large loan.
What these credit repair companies don’t tell you is this: It’s illegal to remove accurate negative information from your credit report. In fact, most of these companies will eventually tell you that they can’t fix your credit report. They will then walk away with your money, and you will receive no benefits. There are a variety of ways that you can detect a possible credit repair scam.
These are some signs to look for:
- The company encourages you to dispute information on your report
- The company suggests that you invent a new credit identity
- The company asks you to apply for an Employer Identification Number
- The company tells you they can get rid of negative information on your report, even if it is accurate
- The company recommends that you do not contact any credit reporting companies
- The company doesn’t tell you any of your rights
- The company does not admit what you could do by yourself for free
- The company wants you to pay for service before any work is done
According to the Credit Repair Organizations Act, credit repair companies cannot ask for money upfront before they perform the services promised. This is expressly illegal and if you are scammed in this manner you may even have the right to sue. Whenever you choose to go up against a credit repair scammer, you will want a Charleston consumer law attorney on your side to help you.
The Fair Credit Reporting Act & Your Rights
As an American, you have rights that cover the ability to repair your credit. According to the Federal Trade Commission, no one can remove accurate and timely information from a credit report. You do, however, have the right to petition for an investigation if you believe that your information has been misconstrued and that you have been given a false credit score.
Recent research on CBS News shows that almost 80% of all Americans are misrepresented on their credit report.
If you think that your credit score is not correct, then you can ask for a free report under the provisions in the Fair Credit Reporting Act (FCRA.) If a company takes “adverse action” against you, such as denying you a loan or insurance because of your credit score, then you can request a copy of your report to determine if everything is accurate.
How Do I Receive a Free Copy of My Credit Report?
In order to receive a free report in full detail, you will need to request the document within 60 days of the “adverse action.” If you are on welfare or if you believe that your report is inaccurate due to fraud, then you need to contact your credit reporting company to help. A Charleston credit repair attorney at the Traywick Law Offices can also help you to negotiate with credit bureaus and show them where the mistake was made. If you are not the victim of “adverse action” but you still want to look at your credit report, Equifax, TransUnion, and Experian are required to provide you with a free copy of your credit report once every 12 months. You need to ask for this report in order to receive the documents. The three companies have websites, phone numbers, and mailing addresses that you can use to reach them.
The federal government declares that you have the right to dispute credit report mistakes or outdated items without any additional cost to yourself. The FCRA declares that consumer reporting companies and any information providers are responsible for correcting inaccurate or incomplete information in your reports. You may need to contact the consumer reporting company and the information providers, such as a credit report website, if you need to correct information. When things get complicated, you have the right to get a lawyer involved.
Contact a Charleston credit repair attorney from the Traywick Law Offices today at (843) 606-5909 to correct the mistakes on your credit report or dispute a credit repair company that scammed you out of your finances.