During your own credit repair efforts with a creditor, collector, bureau or other involved party, you may not be aware that the reporting process is not cooperating and is in fact in violation with the law. You may want to seek litigation or find legal representation. But keep in mind that the person handling your credit repair litigation is probably in another state, and they need to be located in the state of which the credit violation took place. When your attorney helps you to repair your credit, a creditor direct letter must be sent to the creditor who is not following legal procedures. The most effective way to convince the creditor to comply is with this federal warning of being taken to court.
Key factors that may affect your credit scores, in order from highest to lowest percentage, are pay history, amount owed, credit age, credit type and new credit. Your late payments from five years ago will be overlooked and a recent late payment will be brought to attention above it. Outstanding balances and how much was owed at the time of delinquency are key factors in damaging your credit. Though, the older the item (be it judgements, bankruptcies, suits, liens, etc), the less affect they have on your current credit score. Percentages also pay a role in credit score, for instance, 5 accounts with 3 late payments is far more crucial to a low credit score than 10 accounts with 4 late payments.
Call Attorney Chris Vonderau today at (910) 202-3110 or contact us with an email.