These days credit is easier than ever to get. This includes being invited to join diner’s clubs, to receive multiple credit cards, and the like. However, though it is easier to gain access to such financial privilege, it is also easier to go quickly into debt. For this reason, many find themselves thinking about seeing a credit lawyer. This is not a bad idea, in the worst case situation. Yet first let’s see what other options may exist before the aid of a credit lawyer becomes necessary.
First, while credit is simple to get, anytime a person misses even a single payment, this is recorded on that person’s credit report. This is not to say that this blemish cannot be repaired. Simply sending the money for the payment as soon as possible helps, and not missing another payment for 1 to 2 years, depending upon the companies that will revue your credit, will also help you.
On much worse credit, that spanning years with no payment whatsoever, the situation is much greyer. A default on a bill will stay with you for a minimum of 7 years before being negated from your report. This is the normal case. However, with bills such as certain utility bills, the requests for payment and bad credit can dog you for years. Worse yet is non-payment of a student loan, which will never leave your credit report until paid in full.
At this point you may wonder if a credit lawyer is right for you. This depends entirely upon your situation. You must first get a credit report from each of “The Big Three” –that is, the three major credit reporting agencies. Don’t skimp and purchase only one of the reports, as each report may reflect different aspects of your debt. Read each report and see if there are any accounts or debt that you disagree with. If there is anything wrong with your report, try to have it corrected through the credit agency and through the company that claims you owe them money. If this proves to be fruitless, it’s time to get a credit lawyer to repair this problem.
Aside from this, let’s say that you wish to start paying your debts off. This will be quickly reflected upon your report and will cast a good light upon you. Try to pay all of the debts off simultaneously, even if only a small amount is paid to each company each month. However, be aware that some debts gain interest, so you must pay more than the monthly interest rate, to get the principle down to size.
However, if even this is impossible, you must learn to change your spending habits. Stop buying on credit or empty promises, period. Otherwise this problem will continue to haunt you and every credit lawyer in the world will be inconsequential to resolving your problem.
Yes, finally, do seek a credit lawyer if all else is lost. A credit lawyer will instruct you on the best ways of saving your credit reputation and being able have a good credit rating overall. As well, she can help you to learn to contain your spending, that you never again require the services of a credit lawyer.
http://www.lawyers-advice.info/Articles/Debt_And_The_Credit_Lawyer.php
