Having good credit is a virtual necessity in this day and age. Credit is how most people finance their homes, buy cars and make larger purchases. When you fail to make payments on time, it can damage your credit. Californians as a group carry more debt than people in other states. But just because you have had a rocky financial history doesn’t mean that you can’t take steps to help rehabilitate or rebuild your credit.
Why is a High Credit Score So Important?
Your credit score is a three-digit number that can range between 300 (poor) and 850 (excellent). The average credit score for California residents is in the upper 600s. Having a high credit score can be valuable to you in the long run. Credit scores are determined by three credit bureaus: Equifax, Experian and Transunion. Lenders look to your credit score to assess your credit risk, and your credit score helps them to decide whether to grant you a loan and at what interest rate. If you have a low credit score, it is important that you take steps to rehabilitate your credit and try to increase your credit score.
How We Help You Rehabilitate Your Credit
We at the Law Offices of Kenechi R. Agu are ready to help you repair your credit. As an initial matter, we will analyze your credit report and identify any incorrect or erroneous credit information. Incorrect information, such as debts that do not actually belong to you, can wreck havoc on your credit. If there is any incorrect information on your report, we will work with the appropriate parties to get the matter resolved.
Next we will develop a personalized solution for dealing with your debt. Based on your particular situation, we will discuss the options available to you and explain how each option will impact you. We will also work with you and your creditors to figure out which option is acceptable to both parties involved. We will also advise you as to other steps you can take that will help improve your credit rating, such as closing old or inactive accounts and consolidating your debts.
Beware of Quick-Fix Credit Repair Scams
Unfortunately, there are many credit repair scams out there designed to lure in the over-stressed, highly indebted unsuspecting victim. These credit repair scams take many forms, but usually require the debtor to pay an up-front fee in exchange for access to debt management and credit repair educational materials. The cost of some of these programs can be upwards of a thousand dollars, and the victim/debtor often only gets information that he or she could have found online with a little bit of research effort. It is very important that you not trust these programs. The best way to repair your credit is to contact a credit rehabilitation lawyer who specializes in such matters.
Contacting a Credit Repair Lawyer in Los Angeles
It can be tough to hit financial hard times, and it can seem like an immense uphill battle to recover from those hard times. However, we at the Law Offices of Kenechi R. Agu know that it is possible to get your credit back on its feet with some careful planning, fiscal responsibility and time. When you need help with repairing your credit, you should reach out to the credit rehabilitation experts at the Law Offices of Kenechi R. Agu.