Your credit is your future. If you intend to shape, control, and improve the latter, then you must do all that you can to improve the former. Doing so is hard if the regularity with which you pay your bills is not being reported fairly and accurately.
The Fair Credit Reporting Act sets down clear guidelines to promote the accuracy, fairness, and privacy of information that is contained in consumer credit reports. If you believe creditors or reporting agencies have violated any principle of this law, then you should take legal action.
The Importance Of Good Credit
Without good credit, your life is essentially unlivable. A poor credit rating affects everything you try to do. You cannot book a hotel accommodation without a major credit card. If you have bad credit, your credit card has most likely been cancelled. That forces you to stay in shabby or third-rate hotels, even though you might have long since gotten back on your feet and obtained a job that entitles you to a better room.
Indeed, you may even be denied the job that your experience and qualifications make you perfect for. Many companies now conduct a credit check before deciding who to hire. The belief is that a person’s credit score gives some indication of their trustworthiness and reliability. That this is a quite dubious way of judging a person’s character seems never to dawn on the people who employ this method as a selection criterion.
You know, as does everyone else who has been through it that perfectly good, honest, hard-working people fall on financial hard times. Any number of contingencies and life events may conspire to throw you into serious debt that is nearly impossible to get out of. You may have gone through an extended period in which you just could not pay your bills. Although a perfectly sensible person can understand that this is no reflection on you overall reliability, the people who make decisions based on credit reports do not.
Ensuring Accuracy And Fairness
As you try to get back on your feet, you should not be hindered by the sloppiness or negligence of credit reporting agencies. Indeed, it may surprise you just how much misinformation is being put out by credit reporting companies.
If you have been the victim of their error, an fcra attorney can compel them to correct their mistake. The aim of such an attorney is to be your advocate as you attempt to correct the record of what you have paid and when you have paid it. Credit reporting agencies do not have unlimited power. They are not the final arbiters of what is considered an accurate and fair assessment of your credit status. You have the right to challenges misinformation. The best way to do it is through an attorney.
Everyone deserves a second chance. You have worked hard to reclaim your financial future. The last thing you need is to be mistreated by a creditor or a credit reporting agency.