How can a Credit Report Lawyer help me?

Mistake on Credit Report

Credit report errors happen more often than most of us would like to think. The Consumer Financial Protection Bureau has listed credit report errors as one of the top complaints filed.  Believe it or not, one out of every 20 of us have errors on one of our three major credit reports.

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How Will Borrowing Money Affect My Credit?

Getting a Loan

Taking out a loan can help you build your credit.  But remember, to get that benefit, loans must be paid back in full and on time, and according to the terms of the loan agreement.  When these terms are not met, the lender can take steps to repossess collateral and collect any money that is owed.  As a result, the defaulted loan can be listed negatively on credit reports and lower your credit scores.

Let’s take a closer look at how this all works.

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How Long Does it take for a Repossession to come off your Credit Report?

Low Credit Score from Car Repossession

It’s not enough stress to have your car repossessed, but the consequences  —  collection contact and negative credit reporting  —  can be too much to bear.

Car repossessions carry negative weight to a credit report for 7 ½ years from the date it was first reported as late by the lender.  Credit scores may drop and your ability to get new credit, and credit with favorable terms, may diminish.

In this blog, we’d like to take a closer look at how long a repossession remains on your credit report and what you can do to correct credit reporting errors.

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What is the Fair Credit Reporting Act?

FCRA Fair Credit Reporting Act on a table.

October 26, 2020 marks the 50th anniversary of one of the most important pieces of consumer protection legislation in the country’s history: The Fair Credit Reporting Act.

The Fair Credit Reporting Act, or FCRA, is a federal law governing how consumer credit information can be used and distributed. It gives consumers the right to see what’s on their credit reports and dispute errors and inaccurate information.

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How to Get a Copy of Your Credit Report

Credit Report on Tablet

Just as a yearly check-up with your doctor is good for your physical health, taking an annual look at your credit report is good for your financial well-being.

Consumers are entitled to receive one  free copy of their credit report every 12 months from each of the three main consumer reporting agencies – – Equifax, Experian and TransUnion.

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How to Deal with an Experian Dispute

Credit Report

It’s something that’s drilled into our heads over and over: You must maintain a good credit score.

But sometimes errors can pop up on our credit reports through no fault of our own. When that happens, it’s important to take steps to fix these errors as soon as possible.

In this blog post, we’ll explore how to do that using the example of one of the three main credit reporting services, Experian. Here’s how to deal with an Experian dispute.

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5 Things to Do After Your Car Has Been Repossessed

Car being towed repossessed

Your car is hooked up to the tow truck. You’d been struggling for months to make payments, and now the thing you feared most has come true: repossession.

And you think to yourself:  What do I do now?  Where is my car?  Is there some sort of car repossession look-up service that can track it down?

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How does a “Charge-Off” affect the consumer?

When payments on your account go unpaid, the creditor may stop you from making additional charges and list your account as a charge-off.  But even if the creditor stops trying to collect on your account, you still could be responsible for the debt.

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7 Ways Millennials can boost their Credit Scores

Millennials may be aware of the harmful effects of bad credit. The difficulty is in determining ways to change habits and establish financial discipline that will improve their financial outlook and their credit scores.  The following steps may show useful ways to carve a path to a brighter financial future.

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