Why You Should Use Credit Repair in Miami After a Repossession

Credit scores affect multiple facets of life. They determine loan rates, car loans, mortgages, and more. Having the best credit possible will save you, not only grief but money. If you are already struggling to make ends meet and can't afford a car payment, you definitely can't afford bad credit. A repossession makes your credit feel helpless, but finding credit repair in Miami can help. When looking for credit repair, Miami has you covered. Here are 4 ways credit repair can help your credit after a repossession.

Finding Legal Discrepancies
Credit repair companies are skilled and educated concerning all credit laws. They are particularly familiar with fair credit laws. In 1970, the United States passed the Fair Credit Reporting Act(FCRA). This law allows for all citizens to have access to their credit information. Like anywhere else with credit repair, Miami experts know the laws and loopholes. They work to find if there is any way that your repossession was fraudulent. After they file a credit dispute, the credit bureaus have 30 days to investigate. If the lender can't prove that the repossession was just beyond a doubt, it is dropped from your credit report.

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Even though you could try to dispute your repossession yourself, it won't be as effective. Not only do credit repair companies have more understanding of the laws and loopholes, but they also have respect. Major companies are viewed as competent. Thus they are taken more seriously than individuals.

7 Year Expiration
After seven years, repossessions should fall off your credit report. In some cases, simply waiting for the time to pass is all you can do to combat the negative credit mark. Once those seven years are up, however, you might still see the repossession on your credit report. Credit repair in Miami will work to ensure this repossession is removed after the seven years. They know how to have this done quickly and efficiently.

Focusing on Other Lines of Credit
Even if the credit repair company can't have the repossession removed, they will still help you. While the repossession is on your report, other factors will still be affecting the score. The credit repair can look at other areas to improve your credit, or start building new lines. Over time, the repossession will have less of an effect.

Even though having a car repossessed might feel like a helpless situation, credit repair in Miami can help you get back on the road to financial health. It might be tempting to give up on your credit or repair it yourself, but hiring a professional will help improve your credit smoothly with the most significant chance of improvement. For further information contact us