Fixing Problems

Consumer Laws – The Right Tools

Now that you understand the background of credit bureaus and your credit report, you’re ready to learn how to fix it. The first thing is recognizing the laws that were created to protect consumers. In their infinite wisdom, Congress knew that consumers could be easily harmed by the credit system (yes, Congress likes to add complexity when trying to solve problems).

There are many laws that might apply, including:

  • Fair Credit Reporting Act
  • Fair Debt Collection Practices Act
  • Fair and Accurate Credit Transactions Act
  • Fair Credit Billing Act
  • Health Insurance Portability and Accountability Act

If you intend to try fixing your own credit then you should become familiar with these laws. The Federal Trade Commission enforces these laws and you can find more info on their government website.

While we’re at it, there’s even an Act that governs credit repair companies like Legacy Credit & Debt Advisors, so do your homework before you hire someone. It’s called the Credit Repair Organizations Act.

Use the Law to Protect Yourself

Repairing your credit implies that your credit is broken. Given the complexity of the credit system as described here, it’s no surprise that many studies show anywhere from 20-70% or more of all credit reports contain errors. There are any number of ways that your credit record may be broken.

First, there may be mistakes in the reporting of genuine negative marks. For example, if you didn’t pay a bill three years ago, and it was sent to different collection agencies, it’s possible that the same item has been recorded multiple times, making it appear that you had several delinquencies, when in fact, they are the same instance.

There are many other ways in which inaccuracies can harm you. These can include misleading reports, wrong classification, unverifiable items, and untimely or incomplete items.

With a proper understanding of the consumer laws, you will need to contact all sources of the errors, from the original creditor to the most recent collector. Once you bring the error to their attention and identify the legal issues, they may be legally bound to correct the error or remove the negative mark against you. Again, familiarity with the laws and how to apply them is your best tool.

Another problem that is commonly seen arises from mistaken identity. If someone else with the same name has poor credit practices, they may be mistakenly attached to your record, damaging your score, even if you have perfect credit. Sometimes, mistaken identity is actually a stolen identity, a rising problem that will only get worse. Many people don’t even realize they’ve had their identity stolen until they apply for a loan and get denied because someone else has already ruined their record.

Correcting a mistaken or stolen identity can be an especially thorny problem and may even require legal counsel.

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At first I was afraid and wasn't sure they could help me because I'd heard lots of negative things about the credit repair industry. But Chris put me at ease right away. He explained everything clearly and based on his evaluation said he was sure he could raise my credit score. By the end of 6 months, sure enough it was even higher than I was expecting.

John H.

...a life changer. Not only are Chris, Lenise and the rest of the staff persistent and motivated in getting results, they are friendly, and a positive group to work with and are always helpful in every aspect. As a result they have put confidence and success back in my future.

Nicole Caldararo

Before calling... my credit was terrible. I tried so hard to go it alone but after calling them, it was the best thing I EVER did. They didn't make me feel ashamed of my situation, nor did they just help me fix it, but guided me in the direction I needed to go in the future to get me to an almost perfect score! They are like family to me now!

Lynn Crisci

I have had the pleasure of working with Lenise, Chris, and Jody for the past few years in getting my credit paid off. I am now on my way to rebuilding my credit back up with Lenise’s help and I know it will all work out with their help again.

Dori R Larm

They really helped me get myself and, my life back on track. Having the professional guidance of Lenise and Chris totally put my mind at ease. Thank you both so much.

Sharon S

I am more than pleased with the service that I got from this business. Not only did they repair my credit and get me to where I needed to be they also got me credit cards all within one year. They are very helpful, they walk you through everything. The customer service is a 5 stars . I was a nonbeliever about getting my credit fixed by a company. I thought I was never going to restore my credit but they assured me that they would have no problem with restoring my credit and i was I shocked with the results that I got when I pulled my first report after one year. So if you are having Credit problems and you want it cleaned up an old debt erased and gotten rid of give this company a call.

Carl Lindenhurst