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Rehabilitating Your Credit Score

Many Americans have fallen on hard times in the past few years. Loss of a job, being downsized, inability to make credit card and mortgage
payments and defaulting on personal loans have had negative effect on the credit standing of many Americans.

Credit scores generally run from 300 to 850. There are three major credit bureaus in the United States. They are Equifax, Experian and Transunion. Each of these credit bureaus have their own way of calculating credit scores. The following are a list of ways to help increase your credit scoring:

1. Consider adding a letter to your credit report explaining a
hardship that caused you to miss credit card payments. All three
credit bureaus allow consumers to add brief statements to their credit
reports.

2. Bring your credit card payments up to date. Bringing your credit
card payments up to date will have the most significant affirmative
impact on your credit score.

3. Obtain Secured Credit Cards
Secured credit cards can be used to rehabilitate your credit score. These cards require you to put a certain amount of money in a bank account, for
example, $500. This is used as collateral against the amount of
credit you receive on your card.

4. Join a Credit Union
Credit Unions are more lenient than other financial institutions in
offering credit cards and personal loans to their members.

5. Avoid Credit Card Repair Companies
Most credit card repair offers are scams. The claims made by these
companies are that they can straighten out your credit. They have no magic wand! Although there are some legitimate credit card repair companies, you don’t need to hire them. Just pay your bills on time and your credit
will over time repair itself.

Foreclosure Lawyer

Our law office provides foreclosure defense for our clients. We help
our clients with mortgage modifications and mortgage modification
programs that don’t work
. We litigate defective mortgages, defective
foreclosure lawsuits
, predatory lending, bad faith on behalf of
financial institutions
and other real estate related matters. We
attend foreclosure court conferences for our clients and we utilize
these conferences to try to motivate the lenders to give our clients
mortgage modifications. We educate our clients as to the foreclosure
options
available to them. In appropriate situations, we file
foreclosure related bankruptcies. These bankruptcies can be either a
Chapter 7 or Chapter 13 bankruptcy. These bankruptcies automatically
stop foreclosures  from moving forward. In some circumstances,
bankruptcy can help eliminate second mortgages. Feel free to call us
for a free consultation. Thank you for reading my foreclosure blog.

Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick, Bellmore

We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

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