Jackson Credit Attorney
Get Help with Your Credit Score
Nothing is more frustrating than seeing your credit score continue to dip if you have been regularly paying your bills, following the rules, and doing everything “right.” Even months of good financial behavior may seem to yield no improvement in a diminishing or stagnant score.
The factors that go into determining your credit score at any given moment are extremely complex and can be difficult to decipher. More challenging still is identifying means of reliably improving your score or rebuilding damaged credit. The system at times can seem almost intentionally opaque, and it is easy to feel helpless if a bad credit score is the only thing preventing you from renting an apartment, obtaining a job, or securing a loan.
Our Jackson credit lawyer at Irvin Law, PLLC can assist you in repairing and improving your credit score. We have a complete understanding of what elements influence an individual’s score and what steps can be taken to quickly and decisively fix problems and put you on the road to credit recovery. We can help you understand your rights, file disputes on your behalf, and advocate for you in all communications with collection agencies and credit bureaus.
Why You Need To Care About Your Credit Score
While it can be easy to dismiss credit scores as irrelevant abstractions, the reality is that they can have a tremendous impact on your ability to live your life and achieve essential milestones. Credit scores are the means by which lenders evaluate your credit worthiness. A poor score confers numerous disadvantages, while a healthy score has the potential to open many doors.
Having a bad credit score can result in many problems, including:
- Difficulty renting an apartment. Most renting and leasing companies will balk if you have a score below 600, with others expecting a score of at least 700 in order to be considered. In order to rent an apartment, you may need to provide a cosigner or pay a higher than average security deposit to compensate for your low credit.
- Reduced career opportunities. In many cases, employers have the ability to legally request partial access to your credit. While they will not see your precise score, they will be able to see your lines of credits, outstanding balances, other debts, and missed payments. Employers tend to feel more comfortable hiring workers with solid financial track records, especially if a position involves handling money. Having a low credit score can therefore risk your ability to land desirable positions.
- Higher insurance premiums. Auto and homeowner insurance companies are generally allowed to assess your credit score in evaluating your overall risk. When your credit score is poor, you will likely be locked out from the most attractive rates.
- Limited access to lending. Major banks and other lending institutions enforce rigorous standards when choosing who to do business with. A low credit score will likely preclude you from securing loans from these entities, making critical transactions like taking out a mortgage or raising funds for a business significantly more challenging.
- Less desirable terms for the lending that you can access. If you are able to secure a loan, whether through a major bank or a more periphery institution, the terms will be less than favorable if you have a poor credit score.
- Lack of access to advantageous credit cards. One of the most useful elements of using credit cards are the rewards programs. The most beneficial cards that provide the most lucrative incentives will be unavailable to those with low credit scores.
- Difficulty saving. When most of your available funds are going into paying debts, interest, late fees, and other consequences of a low credit score, you will have limited means of saving for your future. This can make it more challenging to retire, as little to none of your financial resources will be spent investing in assets or building equity.
How We Help You Improve Your Credit Score
In order to avoid negative consequences, you should work to maintain a credit score of at least 600. If your score ever dips below 600 – it can go as low as 300 – you should take immediate action and seek experienced legal assistance. Your credit score can drop for a wide variety of reasons, including missed payments, reduced credit limits, closing accounts, opening or applying for new lines of credit, and filing for bankruptcy.
Some causes of credit disruptions are beyond your immediate control. Mistakes on credit reports can be frustratingly common and will likely require direct intervention to fix. Becoming a victim of identity theft can also quickly tank your score.
Our Jackson credit attorney can help you improve a poor credit score through the following steps:
- Auditing your credit report for mistakes and errors. We will perform a thorough review of every element of your credit report and confirm that every item accurately corresponds with an account or line of credit. If you have already identified elements that appear incorrect, we can quickly investigate and determine the source of the issue. Discrepancies of any kind can be damaging to your credit score, even if they are not your fault.
- Filing credit disputes with the credit bureaus. When we identify one or more mistakes on your credit report, we can formally contact the credit bureaus that determine your score and ask them to review the accuracy of the information. We can help you avoid common mistakes when disputing elements of a credit report and follow-up to ensure that any amended errors are quickly reflected in your revised score.
- Negotiating with creditors. In many situations, directly communicating with a creditor or collection agency can result in a compromise or improved circumstances. We can explore renegotiations of debt or even debt forgiveness. Our team can also ensure that all collection agencies are acting in compliance with relevant federal law and request that they prove that they own the underlying debt. If a creditor cannot produce evidence that demonstrates their ownership of your debt, they cannot attempt to collect it from you, which can have positive ramifications for your credit score.
- Settling of debts. When you do genuinely own a debt but generate the funds to settle it, we can work directly with the associated entity to ensure that the debt or account is efficiently closed and that the change is expediently reflected in your credit score.
- Recommending proactive steps to improve your score. In many situations, simply disputing possible errors and misreported information will not be enough to turn around a low credit score. You will also likely need to adjust financial habits, the specifics of which will depend on your overall financial circumstances.
Improve Your Score Today
We understand that nobody wants to spend more time thinking about credit scores than they have to. Dealing with a bad score is stressful and aggravating, especially if it is keeping you from taking advantage of new opportunities. Whether you are struggling to recover after a bankruptcy or are fighting a litany of errors, our Jackson credit lawyer at Irvin Law, PLLC can give you the dedicated legal support that you need. We have a complete familiarity with how the major credit bureaus calculate scores, assess improvements, and adjudicate disputes. No matter the complexity of your situation, we are committed to guiding you through the process of improving your score.