Beware Of Credit Repair Scams
It is possible to get out of debt, but there are no quick fixes. Most of us are stuck in a situation where, even though we work day and night and live modestly, we barely have enough money to keep up with the payments on our debts, and with big debts like student loans, the balances keep getting bigger instead of smaller. The surest ways to get out of debt are a large or long-term increase in your income, a major reduction in your expenses (if that is possible), and legal processes that require, or at least recommend, the help of a lawyer. For the most part the rest is just wishful thinking. Just as the skin creams and nutritional supplements sold through multilevel marketing companies will not make you younger or richer, no matter how much you pay for them, most credit repair companies will not make your debts disappear, and some of them will simply take your money and ghost you. If you are serious about improving your credit score, a Boca Raton credit repair lawyer can help you a lot more than for-profit credit repair agencies can.
Credit Repair Red Flags to Avoid
Credit repair agencies often promise to improve your credit score by removing unflattering items from your credit report; the shadier among them are evasive about their methods for doing it, and the shadiest ones offer to dispute every line of your credit report, making them more like credit score-torpedoing trolls than credit repair agencies. These are some signs of a shady credit repair agency:
- They charge money for an initial consultation or ask for payment upfront.
- They encourage you to rebuild your credit by applying for an employer identification number (EIN) instead of using your social security number, or they otherwise ask you to create a new identity.
- The credit repair agency asks you not to contact the credit bureau directly.
- They make big promises, such as a dramatic increase in your credit score within weeks.
Reading your credit report carefully and disputing inaccurate items is a valid and worthwhile way to improve your credit score, but you can do it by yourself. It does not cost money; all it costs is the time it takes to read your credit report and make phone calls to the credit bureaus.
If your credit problems are so severe that disputing inaccurate items on your credit report will not solve the problem, then you should contact a lawyer. Your credit repair lawyer may be able to help you find a solution such as debt consolidation, debt settlement, or filing for bankruptcy protection.
For Severe Credit Problems, a Lawyer Is Your Best Hope for Credit Repair
No one can instantly repair your credit by waving a magic wand, but a South Florida credit repair lawyer will find the most effective way, within the bounds of the law, to improve your credit score and increase your access to needed credit. Contact Nowack & Olson, PLLC in Boca Raton, Florida to discuss your case.