Need Credit Repair Help in Jacksonville FL? The Law Office of Matthew C. Bothwell, P.A. is here to help.
Credit repair is a crucial step to financial freedom and security and Jacksonville’s debt relief lawyer, Matthew C. Bothwell, Esq., can help. Your credit score is an important tool used by banks and lenders to determine if you qualify for loans such as a mortgage, car loan or credit card. The higher your credit score, the less risk you pose to the bank and, in turn, banks are willing to offer you more credit at lower interest rates. While not every valid claim can be removed from your credit report, credit bureaus must follow strict reporting guidelines and often cannot support the negative reports they place on your credit record. It has been reported that up to 70% of negative credit reports that appear on credit reports are incorrect or cannot be verified. Credit repair through the removal of these negative reports or correcting inaccurate information can increase your credit score and open a door to credit offers and low interest rates.
Credit scores, or FICO scores, are calculated and reported by three main credit bureaus, Experian, TransUnion and Equifax. These are for profit companies that are work with lenders and other agencies to compile information about your financial status including the type of debt you have and who you owe, how much you owe, your payment history, how long you have had credit and if you have received new credit. This information is then processed through a formula created by the Fair Isaac and Company resulting in your FICO score or credit score.
Remove Negative Credit Reports
Improving your credit score through credit repair may involve removing negative credit reports from your credit score, even if the debt is yours. The credit bureaus are governed by the Fair Debt Collection Practices Act and can only place negative marks on your credit report if the information is completely accurate and can be verified. If any negative information on your credit report is inaccurate, such as the amount of a debt, even if what is reported is less that you actually owe, or the date the account was, it must be removed from your credit. If the credit bureau believes the information they have is accurate, you have the right to request that they verify the information. Verification includes requiring the bureau to provide you all the information it relied upon in making the negative report, the address and phone number of the company that provided the negative information, the person who provided the information and the date, the name of the bureau employee who compiled the information and proof that the bureau received a contract or agreement signed by you evidencing the negative report. If the bureau cannot provide you this information it must remove the negative mark from your credit forever.
Jacksonville’s debt relief lawyer, Matthew C. Bothwell, Esq., offers credit repair that may offer you the financial relief you deserve. Please call for you FREE CONSULTATION for credit repair Jacksonville FL.
Correct Inaccurate Information
If your credit report contains incorrect information such as an inaccurate balance, an account showing a balance that has been settled or paid off, or if the credit report fails to show credit extended to you, correcting these errors can help improve your credit. Jacksonville’s debt relief lawyer, Matthew C. Bothwell, Esq., will help review your credit report, identify incorrect information and offer credit repair to fix any problems with the credit bureaus. Please call for your FREE CONSULTATION for credit repair Jacksonville FL.
In most cases, bankruptcy will actually help improve your credit report. Most people think that bankruptcy will significantly hurt your credit when it is actually a credit repair tool. If you are to the point that bankruptcy is your best financial option your credit score is likely low and may fall a bit just after filing. However, bankruptcy will clear many negative reports from your credit and in most cases leads to improved credit scores within months of discharge.
Financial Management Techniques
Credit repair techniques such as keeping low balances on revolving credit accounts such as credit cards, making timely payments or paying off credit cards every month, and having credit available will also improve your credit score.
If you have questions about credit repair, your credit score or removing negative information from your credit report, please contact Jacksonville’s debt relief lawyer, Matthew C. Bothwell, Esq., to schedule your FREE CONSULTATION.
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