An individual’s credit score is based on information compiled in periodic reports issued by the three big credit reporting agencies. The problem for many people is that their credit reports contain incorrect or improper information. If this happens to you, there are remedies available, known as credit repair and restoration. These are methods of disputing and eliminating inaccuracies in your credit report and thereby significantly improving your credit score.
There are several reasons why reports from the reporting agencies are not always accurate. Simple clerical errors can misstate a person’s financial position. Records among people with the same or similar names can get mixed up. Also, creditors can mistakenly or even maliciously report incorrect information to the agencies. More commonly, the agencies themselves fail to remove data that is “stale.” Certain negative information is supposed to drop off these reports after a given time period, but sometimes the reporting agencies just don’t keep up.
If you find an error on your credit report(s), you should contact an experienced credit repair and restoration attorney who can lodge a written dispute with each agency that is reporting the inaccurate information. If the agency cannot confirm the validity of the disputed information, your attorney can require that the record be fixed or removed entirely.
How long does all of this take? The timing depends on a variety of factors such as:
- The number of errors in each report
- The age of each error
- The complexity of each error
- Whether the original creditor is still in business
- Whether the consumer has good documentation to prove the error
Each debtor’s situation is different and so the amount of time needed to resolve the matter can vary widely. A good rule of thumb is that most cases can be resolved in three to six months. However, some cases might take far longer if the disputed information is complex or if proofs are difficult to obtain.
Another factor affecting the timing is whether or not the debtor has professional assistance. An individual is certainly free to contact the credit reporting agencies directly. However, credit repair and restoration can be complicated and labor intensive. Retaining an experienced credit repair and restoration lawyer can help you achieve the best results in a timely and efficient manner.
The Law Office of David A. Fernandez, P.C. has a team of highly experienced attorneys who have dealt with consumer credit issues for many years. If you need credit repair and restoration, we can provide you with the prompt and diligent representation required to achieve your objectives. Please contact us online or call 713-893-8509 for an initial consultation.
