It’s unfortunate that lawyers tend to get a bad rap in our society, but it is merely an occupational hazard. As a matter of fact, the entire judicial system would be turned upside down if it weren’t for those that have expertise in matters of law. There is a reason why credit repair attorneys exist…because they are needed. This doesn’t mean that if you want to repair your credit report that you should run out and hire a credit repair attorney. Whether you should hire one or not depends on the current state of your credit report.

If your credit reports require only minor changes, such as inaccurate information regarding a couple of late payments or the removal of an account or two that you don’t recognize, then you can probably take care of it without hiring a credit repair attorney. In this case you can either do it on your own or hire a credit repair service that will take care of it for a lower cost than what you would have to pay a lawyer to do it.

If on the other hand, your credit reports have inaccurate or outdated information regarding collection agency accounts, charge offs, foreclosures, bankruptcies, repossessions, liens or judgments, then hiring a reputable credit repair attorney can be the best option. In these cases, getting a credit report changed will require more than simply sending a dispute letter to the credit reporting agencies. These types of credit report items will require knowledge of the credit repair laws associated with the particular item. Most reputable credit repair lawyers have the experience and contacts necessary to get these items updated or removed from a credit report, if it’s possible.

 

 

If you aren’t sure whether or not to hire a credit repair lawyer, there is no cost to get a consultation. At the consultation, you should get best-case and worst-case scenarios pertaining to the various accounts and transactions found in your credit report, as well as the probability of each scenario occurring. You will also get an estimate on the cost. Credit repair attorneys typically charge a $100 retainer and a monthly or hourly fee. Monthly fees generally range from $40-$100 per month while hourly fees typically fall between $200 and $500 per hour. The typical time frame to repair a credit report is 6 months to a year.

Following the consultation, you will have a big decision to make. You should have a pretty good idea as far as what can be done in regards to your credit report as well as a cost estimate. If the lawyer tells you that it is unlikely that there is anything that can be done to remove the accounts for which you are hiring him, such as bankruptcies, foreclosures and other public records, then it probably isn’t going to be worth the expense. Credit repair attorneys don’t make any guarantees, so it will be up to you to decide whether the cost is worth the potential outcome. Just remember, it never hurts to set-up additional consultations with other credit repair lawyers.

 

 

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Filed under: Credit Repair

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