Hot Bankruptcy Topics

Read the latest Bankruptcy topics below that may affect you. A local Credit Repair Lawyer from our site search is ready to help. Get solutions today from our Credit Repair Lawyer search!

Chapter 7
With Chapter 7 bankruptcy, an individual's or business' assets will be liquidated.

Chapter 11
Chapter 11 is utilized by large businesses, corporations, or organizations that desire to restructure their debt.

Chapter 13
Chapter 13 bankruptcy is often referred to as the wage earner's plan, and this bankruptcy chapter involves a restructuring of debts.

Credit Repair
When an individual's credit report contains incorrect information, the individual should contact credit repair attorneys for assistance.

Debt Relief
Debt relief occurs when individuals receive either partial or complete forgiveness of the debts they currently owe.

Filing for Bankruptcy
An attorney can evaluate your situation as well as your finances and assets to help you determine if filing bankruptcy will be advantageous.

Bankruptcy Law: Credit Repair

Credit Repair Attorneys

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Individuals may not realize that they have both the right and ability to challenge the information found in their credit reports. They may protest these reports on the grounds of completeness and accuracy. The legal framework of the Credit Repair Organizations Act (CROA) and the Fair Credit Reporting Act (FCRA) gives individuals the right to dispute the information contained in their credit report. Enacted in 1970, the FCRA further ensures that agencies tasked with consumer reporting do so in a fair and impartial manner. This act also makes certain that when preparing reports, these agencies display the utmost respect for the individual's privacy. These acts are important because the health of an individual's credit report is extremely significant. Unacceptable information on a credit report can seriously impact the life of the affected individual. When an individual's credit report contains incorrect information, the individual should contact credit repair attorneys for assistance.

Did u find inaccuracies in your credit report? Contact a Credit Repair Attorney Today ! Get professional help, consult with a local experienced Credit Repair Lawyer to discuss your case. The sooner, the better.

How Negative Credit Items Can Affect a Credit Report

Items on a credit report that are negative or derogatory can adversely affect the individual's credit score. These negative credit items can put individuals at a disadvantage for a number of various reasons. For example, a poor credit score can result in things such as:

  • Denial of an application for a loan or line of credit
  • Only being eligible for smaller loans or lines of credit
  • Problems obtaining an increased line of credit
  • Higher interest rates on loans, if they are approved
  • Denial or loss of insurance coverage
  • Denial of loss of employment opportunities

Negative or derogatory credit items that can appear on a credit report include things such as:

  • Late payments
  • Loan defaults
  • Judgments
  • Foreclosure
  • Bankruptcy
  • Charge-offs
  • Collections

Individuals with negative items on their credit report should be aware that they items are not required to remain on the credit report for seven years. These items can be removed at the credit agency's discretion if just cause to do so exists. Credit repair lawyers can help individuals make certain that negative items that can and should be removed are deleted from the credit report.

Consulting with Credit Repair Law Firms

Individuals that have incorrect information on their credit report or those that believe negative items should be removed need to contact credit repair law firms for legal assistance. The credit repair attorneys at these law firms will have the knowledge and expertise individuals need to ensure their credit report is more representative of their financial history and their financial trustworthiness. While individuals can dispute negative credit items on their own, this can sometimes be a lengthy process. Oftentimes, individuals are not satisfied with the findings of the credit bureau. Credit repair lawyer have an in-depth understand of the laws in regard to credit reports, and they may be able to more successfully dispute negative credit items than the individual themselves. Individuals should be free to contact these credit repair specialists to obtain professional, expert representation in matters such as these.

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