The Benefits of Working with a Credit Report Lawyer

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Many American students graduating from high school this year don’t realize the importance of a credit score. They don’t understand how their credit rating will have a serious effect on every financial decision they make. From renting an apartment to buying car insurance, your credit score can be responsible for expensive rates and even rejection. 

Your credit score can be a mysterious number. It fluctuates every month, sometimes for no visible reason, and many people struggle to raise it to an acceptable level. In some cases, a consumer may need a credit report lawyer to help address credit report issues.  

While most people trust financial institutions and household name companies, fraud, theft, and negligence can be found everywhere. It’s very important to keep your identity safe and ensure your credit reporting is accurate. An experienced credit reporting lawyer can help you right the wrongs that have damaged your financial standing. 

Do I Need a Credit Attorney? 

The statistics will shock you. According to the Federal Trade Commission (FTC), one out of every five people have at least one error on one of their credit reports. Many errors are not malicious in nature, but they can cause long-term problems if not caught early. It is very important to regularly review your credit report and react to any errors. 

When your identity and personal information are at risk, there are some simple steps you can take to protect yourself. You might change your passwords, remove your information from the internet, and even call your bank to freeze or cancel your credit and ATM cards while you dispute the unauthorized charges. 

If these steps work, you may not need a lawyer. Also, if you find mistakes in your credit report, there are processes you can go through to report errors and correct your credit report before you contact a credit repair lawyer. 

So, when do you need a lawyer? 

If you have taken the appropriate steps to report errors or fraudulent charges, but your financial institution says they cannot help you, you may need an advocate. Consider working with a credit report lawyer if you: 

  • Were unsuccessful in disputing fraudulent charges, 
  • Were unable to rectify errors in your credit report, 
  • Could not clear your records after identity theft, 
  • Have been a victim of unfair debt collection practices, or 
  • Have been unfairly treated by a bank, credit card company, or other financial institution according to the law. 

If you have been struggling to clear your name and credit, consider contacting a credit report lawyer to understand your legal rights. 

The Benefits of a Credit Report Lawyer 

Financial institutions and businesses are guided by many laws that regulate how customers are to be treated when it comes to their personal information and finances. Unfortunately, many firms and companies are lax when making sure reporting is fair and accurate and your information is kept safe.  

Hiring a credit report attorney has many benefits and can help get your life back on track. For example, an experienced consumer protection law firm will offer services in: 

If you have questions about any of these services, the responsive team at Schlanger Law Group has the answers. 

Credit Reporting Litigation Help 

Credit reporting litigation is based on the requirements of the Fair Credit Reporting Act (FCRA). This act requires credit reporting agencies, and the entities that provide information to the credit bureaus to do certain things.  

Under the FCRA, reporting entities must 1) put policies and procedures in place that are designed to create accurate credit reports; 2) conduct a reasonable investigation when provided with a consumer dispute; and 3) when contacted during the dispute process, entities providing credit information to the bureaus must only verify information that is actually correct.     

Not all debt collectors and buyers, creditors, and institutions comply with these federal policies or make a reasonable effort to investigate credit report disputes. 

The credit agencies and entities that provide credit information must: 

  • Perform a prompt and sufficient investigation into credit report disputes, 
  • Promptly delete errors or unverifiable information, 
  • Follow certain procedures that ensure your information is accurate, 
  • Remove outdated information on your credit report, and 
  • Protect the privacy of your report and limit the disclosure to only those who are legally eligible to receive it. 

An experienced credit lawyer will understand all the intricacies of the law and determine if you have a viable case. If so, your lawyer may be able to negotiate a successful resolution or bring the matter to court to recover the compensation and outcome you deserve. 

An Advocate Against Identity Theft 

Identity theft covers a wide range of malicious behavior and can have devastating effects on your life. A thief could withdraw a large sum of money from your accounts, incur debts in your name, and destroy your credit rating by stealing your personal information. 

The Electronic Funds Transfer Act was passed to protect consumers once debit cards became more popular than checks. It was meant to limit liability in the case of stolen cards and set regulations for how banks would handle ATM transactions, deposits, internet purchases, phone purchases, and more. 

Too often, credit bureaus and creditors fail to help victims of identity theft and do not investigate or clear their credit reports. The Fair Debt Collection Practices Act also protects you against unfair debt collection actions that can happen after identity theft. 

Credit protection attorneys can also help in cases where one family member steals from another, where skimmers are used on ATM or other automated payment machines like pay-at-the-pump gas stations, stolen automobile dealer signature cases, lost or stolen ATM or credit cards, telephone scams, and many other common situations.  

Gathering a Community Against the Big Guys 

Oftentimes, a consumer is victimized but feels powerless against those who are too big to fail or even care. Consumer class action lawsuits help victims come together to seek compensation and end illegal behavior. Without an experienced class-action law firm, these individual consumers could never come together to fight as a group. 

If there is a widespread problem that has affected a large group of consumers, a credit report lawyer can help bring a case against the wrongdoers. Class actions can address unfair debt collection, hidden fees, defective products, unfair business practices, and more. 

Don’t Hesitate to Clear Your Name 

Schlanger Law Group is a team of experienced credit report lawyers that helps consumers fight back. Our team protects consumers from unlawful credit reporting, identity theft, and the devastating actions of creditors and financial institutions that can cause extensive financial harm.  

To schedule a free no-obligation consultation, call our office at (212) 500-6114 or contact us online. 

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