Credit Restoration
What is Credit Restoration?
Credit Restoration is the process of removing inaccurate and unverifiable items from your credit report. This essentially increases your credit score, and potentially even decreases your overall debt.
Is This Process Completely Legal?
Yes. The Fair Credit Reporting Act allows each individual to dispute items on their credit report. Whatever items cannot be verified as true and accurate within a reasonable time (generally 30 days), must be removed. This includes, but is not limited to, credit cards, judgments, bankruptcies, foreclosures and inquiries. As each item comes off, the credit score will inevitably increase.
Can’t I do this Without an Attorney?
Yes, but there are many advantages to having an attorney on your side. First, you are getting experience on your side. Experience allows most effective way to be used in disputing items on your credit report. This allows your credit score to potentially increase even higher, as more items should be removed from your credit report.
Second, the hiring of an attorney can potentially result in claims against creditors in which you could receive money damages. There are certain federal (Fair Debt Collection Practices Act) and state laws (Florida Consumer Collection Practices Act) that all creditors are required to follow. Most do not. Consequently, having an attorney at your side allows you the opportunity to know your full rights against the creditors, and potentially allow you to bring suit against the creditor.
Third, when you hire an attorney, you are retaining someone who is required to follow the professional rules of responsibility. This allows you the advantage of knowing someone is acting on your behalf in a professional manner, and allows you the assurance to know that your case will not be dropped, forgotten or pushed to the side. An attorney is not permitted to simply drop a case for a mere dislike of the outcome or process.
Additional Questions
If you have further questions regarding Debt Negotiation, you should also check out our Credit FAQ, or Contact Us for a free consultation.
Debt Negotiation
What is Debt Negotiation?
Debt Negotiation, is simply that: A negotiation with your creditor to decrease your debt. It can decrease your overall debt, and salvage your credit score compared to Bankruptcy. Debt Negotiation can result in your interest being decreased, as well as the principle owed. Debt Negotiation can even result in a set payment plan based on a smaller principle with no additional interest accumulating. Every negotiation is different, because every debtor and every creditor are different.
Can’t I do this Without an Attorney?
Once people are seeking a lawyer to handle their Debt Negotiation, they have generally already attempted to do so on their own. While some people are successful, most people are not. Creditors will hang up, continue to transfer the call, say they sent documents to you but never did. Many people suffer through this before deciding to hire someone else to handle it. One of the advantages of hiring someone to do this is experience. Experience, allows time to get to know what creditors like, and how they work. Someone with experience will have a better idea of who to call, what to say, and what that creditor’s bottom line is. Someone with experience may be able to complete the Debt Negotiation quicker, and with a lower amount owed, than someone who is trying to handle the negotiation on their own.
Why Do I Need an Attorney for this?
You do not need an attorney for Debt Negotiation, however, there are many advantages to having one. There are certain federal (Fair Debt Collection Practices Act) and state laws (Florida Consumer Collection Practices Act) that all creditors are required to follow. Most do not. Consequently, having an attorney at your side allows you the opportunity to know your full rights against the creditors, and potentially allow you to bring suit against the creditor, and collect money damages from them.
Additional Questions
If you have further questions regarding Debt Negotiation, you should also check out our Credit FAQ, or Contact Us for a free consultation.