Credit Restoration

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Credit reports play a significant role in many financial decisions, including housing, lending, insurance, and employment. Errors, outdated information, and improper reporting can negatively affect credit standing and create obstacles long after the underlying financial issue has been resolved. Credit restoration focuses on ensuring that credit reports are accurate, complete, and compliant with applicable law.

In the United States, consumer credit information is maintained primarily by three credit reporting agencies. Information from credit cards, loans, medical bills, and other accounts is regularly reported to these agencies. When that information is incorrect, duplicated, misleading, or no longer legally reportable, it can and should be challenged.

Credit restoration is not about creating a false credit history or erasing legitimate obligations. It is about identifying and correcting problems such as:

• Accounts reported more than once
   
• Balances or statuses that are inaccurate
   
• Accounts reported beyond allowable time limits
   
• Items that cannot be properly verified
   
• Accounts that should reflect a bankruptcy discharge but do not
   

These issues are more common than many people realize and can materially affect credit scores.

Our office begins by reviewing credit reports to identify items that may be inaccurate, outdated, misleading, or improperly reported. From there, we determine which entries may be disputed and what documentation is necessary to support those disputes.

When appropriate, we prepare and submit formal disputes and follow-up correspondence directed at correcting the reporting. We also provide guidance on lawful and practical steps that may help reestablish credit over time, such as the responsible use of secured or prepaid credit and other credit-building tools.

Credit restoration can become complicated when multiple items appear across several credit reporting agencies or when prior disputes have not been properly addressed. Legal guidance may also be appropriate where reporting errors intersect with active collection activity, litigation, or prior bankruptcy matters.

Working with a law firm establishes an attorney-client relationship, which can be beneficial if credit reporting issues overlap with broader debt-relief or consumer matters. Having continuity of representation can help ensure that credit restoration efforts align with a client’s overall financial strategy.

Many clients who complete a bankruptcy case are understandably focused on rebuilding credit. After bankruptcy, credit reports do not always accurately reflect the outcome of the case. Accounts that were included in the bankruptcy may continue to show balances due, incorrect statuses, or may fail to note that the debts were discharged.

Credit restoration in this context involves reviewing reports from all three credit reporting agencies and taking steps to correct entries so they accurately reflect the bankruptcy discharge. Over time, certain bankruptcy-related entries are required to be removed from credit reports, but reporting agencies do not always do so automatically.

After corrective measures are taken, updated credit reports are reviewed to confirm that changes have been properly made. If inaccuracies persist, additional steps may be necessary to address them.

Credit restoration is not immediate, and results vary depending on the nature of the reporting issues involved. It is a process that requires documentation, follow-up, and realistic expectations. Our focus is on accuracy, compliance, and helping clients move forward with a clearer and more reliable credit profile.

If you are concerned about errors on your credit report, or if credit reporting issues are affecting your financial plans following bankruptcy or other debt-related matters, we invite you to contact The Tancredo Law Firm, P.A. to discuss whether credit restoration may be appropriate for your situation.