There are three procedures to follow while trying to get your credit report back on track. Because many debt relief organizations are just not competent, it is critical to contact a Fong Law Group attorney to handle this for you. Because effective debt settlement may also include legal expertise and experience, having a bankruptcy attorney on your side increases your chances of a successful resolution.
Stronger credit management will require you to:
- Refute incorrect information. If you uncover anything on your credit report that you believe is incorrect, you should dispute it with the credit reporting companies directly. They must either verify disputed information or remove it from your credit report within a reasonable amount of time.
- Work out a payment plan for the remaining debt. You'll talk to your creditors and try to come up with a plan to pay off a portion of your debt in one lump sum or over time with a payment plan. You should also request that any true negative information be deleted at this time. If the creditors are resistant, having an attorney there during the negotiation process is extremely beneficial; the lawyer may be able to uncover some faults on the creditors' end that you may use as a "bargaining chip."
- Establish a good credit history. There is no legal way to improve your credit by eliminating negative information that you couldn't resolve with your creditor. It's critical to start building good credit after you've settled your present debt. You must demonstrate that you have the current ability to pay bills and that you have paid other accounts on time since your previous issues.
Remember, the credit agencies actually want to lend you money. You just need to show them that you are capable of paying them back.
At Fong Law Group, our experience allows us to provide advice to help you protect your assets, avoid wage garnishments, etc. Fong Law Group will give you insight into the special provisions of the California bankruptcy code, ensuring your decisions have the minimal impact on your financial future. We will evaluate your circumstances, and help you choose the best option for your unique situation.
Call Fong Law Group at (626) 289-8299 for a free consolidation, and talk to an attorney today. We are here to help you get through this difficult time in your life, and help you with a Fresh Start.