Your credit report matters more than you might think, and there’s far more to a strong score than being able to open up a credit card or take out a loan.
Services like gas and electric providers may check your credit score before they agree to provide credit services and a credit limit. Landlords across Kansas City may check your ratings with various agencies before agreeing to a long-term rental contract. Perhaps most crucially of all, employers may search your credit file for information before offering a job.
It goes without saying that credit scores have a significant impact on everyday life. Sometimes, a spell of bad fortune can lead to a lower number. However, in some cases, a reduced score can be unfair or even illegal.
When that happens, it’s best to consult a Clay County attorney, and our dedicated lawyers are on hand to understand your case, starting with a free consultation.
If you’re in Clay County and want to learn more about our credit repair services, call now at 816-281-0649.
Understanding Your Credit Report
Depending on your financial obligations, your credit report could be fairly simple. In most cases, you can view your current credit agreements, outstanding balances, and your capability to make payments on time.
As your affairs become more complex, so does your credit report. Loans, credit cards, and mortgages all make an appearance. Anyone with access to your score can also view your address and use it to check potentially more sensitive information, including details of arrests, lawsuits filed against you, and a bankruptcy record.
US individuals are entitled to a free copy of their credit report every twelve months, with the larger scoring companies usually providing a report either through their website or in the mail.
Unfortunately, annual checks may not be sufficient to tackle issues with your score that can have a negative impact. Most agencies package credit reports as a product, enabling people to visit their site and purchase a subscription. This lets them view the report and usually provides a number of tools to ensure that everything found on credit reports is current and accurate.
Legal Obligations Around Credit Reports
The significance of credit reports is not lost on the judicial system. Missouri state laws cover Clay County and Kansas City residents, and individuals have federal protection around their scores and the organizations that rely on them, thanks to the Fair Credit Reporting Act.
The Fair Credit Reporting Act (FCRA)
At the broadest level, the FCRA protects information collected by different organizations and located on your credit report. This spans not only credit data but also medical records and information gathered from tenant screening services.
To access this information, an individual or organization must have a clear and stated purpose as specified in the Act.
While incorrect information is often the most common cause of legal action in this context, a breach of the FCRA in any form may also be considered a legal matter.
Why You Might Take Legal Action
If you find something amiss with your credit report, you may decide to contact the companies involved in the first instance. Some will take steps to fix the issue when asked.
Unfortunately, some companies ignore your rights and do not even provide a response.
Your credit score matters little to a business, but it can impact your livelihood. There may come a point where legal action becomes the recommended course of action.
Naturally, there are some cases where legal action is not just a consideration but essential to protect your rights. Identity theft and fraud can both lead to incorrect information appearing on credit reports, and they immediately become legal matters due to their nature.
Why Choose a Law Firm Over a Leading Credit Repair Company?
Even the best credit repair company cannot offer the same service as a law firm. Depending on your circumstances, the best credit repair service may be able to help if your bad credit score is a result of one or two simple disputes. However, if things get complicated, then an attorney is the best way to fix bad credit.
An attorney can help guide you through multiple disputes and can carry out extensive research to evidence your claims. Attorneys have the legal knowledge necessary to utilize legal tools and escalate issues if necessary.
When you fire a law firm over credit repair companies, you also have the benefit of the attorney-client relationship. This is beneficial, especially if your situation requires filing for bankruptcy or if a creditor takes legal action against you. In this case, you will already have an attorney who understands your problems and is fighting your case.
Contact a Clay MO Credit Reporting Attorney Today
It’s clear to see that if anything goes wrong with your credit report, it can have a far-reaching impact. A simple search to move into a new apartment in Kansas City can turn out to be a logistical nightmare.
If you’re unsure of your rights or want to learn more about the legal steps you can take to rectify an incorrect report, we’ll help point you in the right direction as part of our free consultation.
If you have been treated unfairly or illegally by credit reporting companies in Clay County, around Kansas City, or throughout Missouri, we will work tirelessly to ensure justice is served. Reach out to Bell Law, LLC today to understand your rights to a fair credit report and to have any questions answered at 816-281-0649.
Begin the process of restoring your financial health today.