Questions to Ask Your Credit Repair/Debt Resolution Company STAFF PICK

Mark M. Bello

Written by

Debt Settlement Attorney

Contributor Level 10

Posted about 5 years ago. 9 helpful votes

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1

Is it possible to obtain credit counseling legal assistance and fight the system?

Absolutely. Contrary to what the credit bureaus would like you to believe, attorney assisted credit counseling is available, does work, and can work for 100% of people in many circumstances. This is, of course, provided you are getting the best legal advice and have an experienced legal professional working on your case. Anyone with a credit score below 720 can benefit long-term from the advice and information provided; however, there are times when your own limitations make adhering to this advice impossible. The two limiting factors are: (1) your financial situation and/or (2) the time-frame in which you need to reach your results. It is possible to remove items from your credit report if the creditor fails to adhere to the law that outlines what needs to be done and by when. All items must be 100% accurate and must not be obsolete, which is where many items can be removed.

2

What can a lawyer do that I can't?

Nothing. You can, absolutely, get many items removed from your credit report yourself and, you can certainly negotiate and settle your own debt. The question is whether you can do so as effectively and with the experience of an attorney who handles these types of situations all of the time. An attorney, specializing in credit repair and debt resolution can act as your representative. A legal specialist will have working knowledge of credit scoring and experience working with creditors and credit bureaus. It may often be difficult for an individual to communicate with creditors and bureaus without an adept understanding of their techniques and regulations in place for credit reporting. If you know what you're doing, you can repair your own credit, you can also build your own house, but would you? An attorney who specializes in credit repair and debt negotiation is, usually, the better choice

3

Can I get a service guarantee or warranty from a lawyer?

Yes. An attorney performing the service of removing negative inaccurate and/or obsolete information should be willing to refund all monies paid if they do not remove more than 25% of all the negatives they work on, from all three major credit bureaus, within six months from the time their services are retained. If you cannot get such a guarantee, in writing, from your attorney, search for another attorney.

4

How long should it take to raise my credit score?

Over 90 of the clients should see FICO score increases in the first 35 days. In a six month period, the average FICO score increase should be around 50 points. There are many factors that go into a credit score; many clients obtain a larger than 50 point increase, many have gotten less. There is no exact way of knowing how much a client's score will increase. The attorney must also rely on the client not doing anything in the meantime that will decrease his/her score while the attorney works the file. The attorney should promise to do everything in his power to increase your credit score as high as possible, including giving you the best advice as it pertains to your unique credit profile

5

Once an item is removed from my credit report, can it come back?

Items usually don't come back as long as the item is current or paid at the time of removal. This holds true except in very rare circumstances.

6

What items can legally be removed?

A good legal assisted credit repair company can normally remove inaccurate, unverifiable and obsolete items such as bankruptcies, foreclosures, collections, charge-offs, repossessions, medical bills, credit card debt, inquiries, late payments, old addresses, judgments, tax liens, and student loans.

Additional Resources

For additional information on attorney assisted credit repair, go to www.creditfixlegal.com

Credit Fix Legal Services

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