Credit Repair Attorney in Kansas City, Missouri
If you’re being harassed by collection calls or can’t get financing because of errors in your credit report, then you may benefit from speaking with a credit repair attorney. At Jeppson Law Office in Kansas City, MO, we help people who have suffered injustice at the hands of unscrupulous businesses resolve their situations and seek the compensation they deserve. We’re a local firm that strives to provide fair representation, and to protect your legal rights.
We’ll take our time assessing your situation to determine how best to proceed. Litigation may be necessary, but we do our best to handle each case on an individual basis. Our attorney frequently speaks at the Missouri State Bar and is a board-certified professional in our firm’s areas of practice. As a client, you’ll benefit from:
- Flexible appointment availability
- Personal attention on every case
When you need a credit repair attorney who will work hard on your behalf, don’t hesitate to contact Jeppson Law Office. We take pride in helping individuals in and around Kansas City stand up for their rights against unfair policies, procedures, and actions. Give us a call today to get started.
Why do I need a Credit Repair Lawyer?
It is not easy to repair your credit. To repair or restore your credit, you must go through a series of hurdles. You may be unsure whether what you are doing is correct or whether it will improve your credit standing. If you do not know where to start, you will need the help of an experienced credit attorney to guide you through the process of repairing your credit.
To properly give you legal advice, they must have a significant understanding of credit-related legislation. They must also be well-rounded in order to attend to and deal with any issues that may develop as a result of your case.
Luckily, our Missouri law firm is here to help you. We not only specialize in credit repair but also in Chapter 7 and Chapter 13 bankruptcy. Our clients can also get debt relief guidance from us. Over our 14 years of experience, we are proud to say that we have helped thousands of our clients reach the relief that they aspire to. Contact us to book a free consultation now!
What is a Credit Repair?
Credit Repair is the act or process of fixing your poor credit standing by correcting inaccuracies in your credit report. What you are doing here is reinstating your ability to borrow money from banks.
It enables you to dispute and correct particular anomalies on your credit reports that may be harming your credit scores. This is best exemplified in a case when you are attempting to get out of debt since there is a wide variety of faults that might occur.
The following are the most prevalent errors:
- Mixed up information, such as social security number, address, or employers. This is common to people who have generic names.
- Account status is incorrect (e.g., payment date).
- Account information that is no longer current (e.g., your ex-spouse’s information might still be mingled up with yours).
Remember that credit repair is not a solution for erasing negative Information that’s accurate and verifiable regarding your account or credit score.
The term “credit score” is very popular in the banking and finance industry. This is an essential number since creditors use this to determine if you are likely to repay a loan without having to thoroughly analyze the credit report on which the credit score is based. Hence, a credit score is a number that shows your credit standing and debt repayment attentiveness.
Remember that a good credit score offers easier access to creditors and the possibility of rapid approval with certain advantages such as low-interest rates. A bad credit score, on the other hand, indicates you’ll have a difficult time receiving a loan, and even if you do, additional interest rates or fees may apply.
So, as much as possible, be responsible with your payment. Always pay on time to avoid getting a lower credit score.
When we talk about a credit report, you may think of it as a comprehensive overview of your credit, including detailed information on your credit behavior and current credit condition. It is similar to a statement that contains information on a person’s credit history, credit activity, manner of life, creditworthiness, credit status, general reputation or personal traits, and current credit situation.
This report serves as the foundation for calculating your credit score. As a result, the creditors will have the option to only look at the credit score, or they can also review one or more credit reports directly.
How do I repair my credit?
It is important to understand that repairing your credit is not as easy as you think. It is a complex process that requires effort and time. Even though you have undergone credit repair, it may not increase your credit score, but it would still depend on the circumstances that surround your case.
In any situation, the following are the steps in credit repair:
Step 1: Understand your credit report and analyze your financial situation
Credit reports play an important function in your total credit score performance. Most of the time, what affects your credit score is negative, inaccurate information in your credit score. So it is essential for you first to understand your credit reports and look for possible inconsistencies.
Once identified, it is important to correct these inaccuracies and that the information is complete. You can also add more things to your credit reports, such as an explanatory statement or positive personal information.
Some may consider this step unnecessary since they don’t see the value in evaluating one’s financial condition. In assessing one’s financial condition, one must go through the exhaustive process of determining your monthly income, total debt payments made monthly, current outstanding debt, and monthly expenses.
The following are the useful tips or points you must take into account:
- Add up your income
- Calculate your monthly living expenses
- Determine your overall debt as well as your monthly debt payments.
- Compare your debt to your income
- Make a budget
- Make keeping track of your spending and obligations a habit.
Step 2: Cut down on your debts and living expenses
It is important that your debts plus living expenses do not exceed your income. When it does, terrible things may start to greet you when an unforeseen circumstance occurs. Even if you don’t have any debts or other obligations, you should minimize your living expenses if you can. This would be useful for people rebuilding their credit since when you negotiate with your creditors, they would want to know what actions you are taking to satisfy your outstanding debts.
Moreover, paying off your debts is as much as important as reducing living expenses. This would allow you not to drown with debt notices. If your income is insufficient to cover some parts of your debts, explore the following options for raising funds:
- Liquidate assets
- Reverse mortgages for those aged 62 and up
- Withdraw or borrow money from a tax-deferred account
- Get some of your income tax refunds early
Step 3: Negotiate your debts with creditors
After you’ve completed all of the necessary steps to balance your income and living expenses and generated some money for your outstanding debts, it’s time to call your creditors and schedule a debt negotiation with them.
Remember that you should never go into a meeting with your creditors unprepared. You must have a plan and some pieces of evidence to back them up. This would be easy if you followed the previous step.
In your plan, you must include which debts must be paid first (preferably recent delinquencies) and how much you should pay. This would help you to have a set of objectives that will keep you on track. Another tip is that you should include all of the activities that you have done in step 2. You might highlight the efforts you’ve made to minimize costs, reduce debt, and generate money. This will demonstrate your commitment and sincerity in negotiating with your creditors.
If you are hesitant about dealing with your creditors, you may seek the assistance of a Missouri credit repair lawyer to advise you and provide you with more strategies.
Step 4: Credit restoration and strengthening credit protection
Of course, when you’ve gone through the process of mending your credit, you’ll need to rebuild and safeguard it so that you don’t find yourself in the same situation again.
You must recognize that repairing your credit score does not imply that you should immediately seek new credit. Remember that your creditworthiness is determined not only by the number of credit accounts shown on your credit report but also by your stability and assets.
If you wish to restore your credit history without obtaining new credit, you may consider the following options:
- Open a deposit account
- Avoid Bouncing Checks
- Choosing and shopping for a bank account that offers reasonable rates, charges, and benefits to you
Start Repairing your Credit with our Credit Repair Lawyer in Kansas City Today!
Our years of extensive knowledge of credit laws, such as the fair credit reporting act, enables us to provide efficient credit repair services, such as assisting you in dealing with a credit bureau and advising you on what measures to take. Furthermore, as well-rounded attorneys, we can meet your other financial needs, such as filing for Chapter 7 bankruptcy. Reclaim your good credit score now!