Woodbridge, New Jersey Credit Repair Attorney
The biggest legal issue confronting Americans today is not the legal rights afforded to enemy combatants in Guantanamo Bay, Cuba. Rather, the most important issue for most Americans is repairing their credit or maintaining their credit score.
Credit repair is just what the name implies, repairing ones credit score. Today, a high credit score is imperative if a person wants to buy a house or car at reasonable rates. Unfortunately, credit reports may have negative information contained within the report which lowers a credit score.
Also, there is another crisis pending--Adjustable Rate Mortgages (ARMs) And Home Equity Lines of Credit (HELOCs). These loans have teaser rates to induce a borrower to borrow money at a lower rate and lower monthly payments which will only increase after a few years. It is estimated that 1 trillion dollars of teaser rates will expire in 2007 alone. That may mean a 20-30% increase in a mortgage payment per month.
What to do? Obviously, re-finance or borrow at a fixed rate. But, if the credit score is too low, a person cannot borrow at a lower rate.
That is where credit repair is critical. Congress passed the Fair Credit Reporting Act to assist consumers in fixing and maintaining their credit reports. The law allows certain things to be taken off the reports such as: paid debts over 6 years old, wrong addresses, incorrect Social Security numbers, non-existent debts and the like.
Corrections to a credit report may increase scores 50-100 points over a period of time, and therefore allow consumers to get the lower rate loan.
What is a person to do? First, get your credit report from the big three credit reporting agencies, Experian, Equifax and Trans Union, at least twice a year. Secondly, review the reports for inaccuracies. Thirdly, seek professional help to remove any mistakes. If they are not removed, the Act allows for the items to removed and your attorneys fees and costs are paid for by the offending party.
The Federal Reserve has raised interest rates significantly over the last year, so the time is now for you to act and fix or maintain your credit score.
You no longer have to be confused and confined by your credit report and credit score. There is help. The Amorison Firm specializes in "credit repair".
If you or someone you know is in need of professional credit repair help, please contact our office today.
Law Offices of John M. Amorison
1 Woodbridge Center, Suite 630
Woodbridge, NJ 07095
Woodbridge Telephone: 732-917-6790
Cell Telephone: 732-425-9398
E-mail