Questions About Credit Repair

If you've been researching credit restoration on the internet you might be overwhelmed with the amount of misinformation available. The Law Office of Simon Goldenberg PLLC wants to make it easy on consumers like you, so we've compiled a list of questions about fixing credit that are frequently posed to us. Check back for regular updates.

Speak to a New York Credit Restoration Lawyer


CLICK HERE TO REQUEST A FREE EVALUATION

Or Call (888) 301-0584 for a Free Case Review


    Is the Law Office of Simon Goldenberg PLLC a credit repair company?
    No. As a debt relief law firm, we assist client's with a variety of credit related issues, which sometimes includes correcting errors on credit reports. A credit repair company, governed by the Credit Repair Organizations Act (CROA) is traditionally in the business of disputing all adverse items on a consumers credit report in hopes of improving and deleting the derogatories, thereby increasing the consumers credit score. This can be a helpful process to those that need to generally improve their credit, especially prior to applying for a mortgage, automobile loan, or other financing. However, our firm's process is not focused on increasing credit scores, although an improvement in credit score is sometimes an incedental benefit of our service. Our process is more accurately described as credit report correction, as opposed to credit repair. When you have a negative error on your credit report that you wish to fix, but have been unable to do so on your own, then it's time to speak to our attorneys. In situations where credit bureaus ignore or deny a consumers legitimate dispute which subsequently causes damages, we can help enforce the consumer's rights by bringing appropriate legal action.

    How to increase my credit score?
    Depending on the issues with your credit report, fixing a bad credit score can take as little as 30-days or sometimes as long as several years. For example, when a borrower uses too much of their available credit, their credit score can be severely diminished. However, this particular credit scoring issue can be rectified rather quickly by paying down the balance, which will improve the borrowers utlization rate. Items such as late payments and charge-offs may appear to up to 7 years, so long as the information is accurate and verifiable by the credit bureaus.

    Why do I need any lawyers to fix credit?
    Requiring the assistance of a lawyer will vary on the complexity of the credit reporting issue and whether you have the time and resources to address it on your on. We have seend instances where the consumer has been unable to compel a bureau to fully investigate their dispute, leaving a false negative notation on their credit report. Where the consumer is confident about the falsity of the information being reported, but is unable to rectify the situation on their own, the assistance of a lawyer can make all the difference in having their credit restored to a positive status.

    How to improve bad credit?
    The key to improving bad credit is understanding the factors that are used to calculate your credit score and the time limits for reporting negative data. Most negative notations (outside of chapter 13 bankruptcy) will be reported for a maximum of 7 years, but could possibly come off sooner. In New York, collection accounts that are paid would age-off the credit reports within 5-year. By understanding the credit scoring factors, you can learn how establishing a long-term positive payment history and maintaining healthy utilization rates can go a long way to securing a strong credit profile.

    Where to get a free credit report?
    On television and across the internet are enticing advertisements from credit monitoring companies offering "free credit reports and scores". What many companies don't make obvious is that they will charge a hefty monthly fee after the initial 1-week or 1-month trial period. Everyone is entitled to review their credit report free of charge annually. In order to do so, a request needs to be make for the bureau to provide you with the credit report. Learn how you can get an absolutely free credit report online in just a few minutes, and you don't have to enter any credit card or billing information. The free credit reports do not include free credit scores.

    How to dispute my credit report?
    There are several methods that a consumer can dispute credit items with the bureaus. The preferred method may vary on the sensitivity of the situation and the consumers need for a quick response. Our lawyers draft physical dispute letters when representing client's with a bureau that is reporting erroneous information. However, in just a matter is minutes, you can submit electronic disputes with each of the 3 credit bureaus.

    How can I repair my credit?
    Learn 5 ways to raise your credit standing by focusing on an accounts payment history, current utlization rates, length of time the account has been open, the amount of inquiries on one's credit report within the past year, and any adverse public records such as court judgments and liens.

    What is the National Consumer Assistance Plan?
    The consumer assistance plan improves on the procedures as set out in FCRA that pertain to the regulations of credit reporting agencies. Improvements have been proposed for the reporting of medical debts, and for involuntary debts like parking tickets and fines.

    What is the Fair Credit Reporting Act?
    FCRA was enacted by the federal goverment in order to ensure that consumers are being treated fairly by credit reporting organizations such as credit bureaues. The Fair Credit Reporting Act includes dispute procedures and imposes requirements that help ensure accuracy of consumer credit reports.

    Need help fixing your credit? Contact our legal team at 877-717-0098 for a free evaluation.

    Contact Our Firm

    Have questions? Fill out the information below to receive an immediate response.

    Submit Your Message
    New York Debt Collection Defense Attorney

    Office Location:

    Law Office of Simon Goldenberg, PLLC
    New York Debt Collection Defense Attorney
    818 E 16th Street,
    Brooklyn, NY 11230
    Local Phone: 347.389.0245
    Directions [+]

    Call for a free consultation

    888.301.0584

    Follow Us On:

    The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.