Credit Repair Lawyer Oklahoma City, OK
If you need help with fixing your credit, call Marty Martin Law to speak with a credit repair lawyer Oklahoma City, OK residents can depend on for quality legal services and advice. Here we have discussed further why it can make all the difference to get help from a reputable credit repair lawyer when trying to improve your financial status and credit score.
What is a Credit Repair Lawyer?
Millions of Americans are dealing with negative items or errors on at least one of their credit reports. These issues could lower their credit score and cause significant obstacles to overcome. In general, it will be up to you to alert the credit bureau of these errors. This process can take a few years, depending on your situation.
A credit repair lawyer may be able to complete the process in less time and with fewer mistakes than if you were trying to fix the situation on your own. Marty Martin, a leading credit repair lawyer, has the necessary knowledge and experience needed to deal with debt collectors, credit bureaus, and other related parties. To fix your credit, call Marty Martin Law today.
What Does a Credit Lawyer Do?
A credit lawyer is a lawyer who has extensive knowledge in credit-related areas of the law. This lawyer will work with you on your behalf to repair your credit in a timely manner. Ways in which a lawyer may be able to help you, include:
- Review your credit report for mistakes
- File disputes with the credit bureaus
- Maintain communication with the creditors
- Settle and negotiation any debt with creditors or collection agencies
- Represent you in court
- Provide you with advice on how to improve your score
A credit repair lawyer will likely start by reviewing your credit report and history to identify mistakes or misinformation. A credit lawyer may also gather various documents, as well as the contact information from the relevant parties. Communication is made to understand, assess, verify, and challenge the information. Other steps that a credit repair lawyer takes will depend on your unique situation. If there is sufficient evidence, the credit bureau may remove the mistake and correct your credit.
Difference Between a Credit Repair Company and a Credit Repair Lawyer
A lawyer generally has experience from their previous cases; whereas, a company might have more diverse experience across various credit-related issues. That said, lawyers can see things from a legal standpoint and can ensure your rights and interests are protected.
Credit repair companies tend to take on many cases at the same time, and may be unable to devote enough attention to your own case. A lawyer will also have a team of professionals on your side to bring your case the right amount of concentration and focus.
Do I Need a Lawyer to Repair My Credit Score?
In general, you don’t need a lawyer to repair your score. You may be able to do a lot that a lawyer can do; however, what is right for you will depend on the circumstances of your cases. There may be things you don’t have time to learn, such as:
- Reviewing your credit reports
- Dealing with the creditors and credit bureaus
- Understanding and learning the credit laws and consumer rights
- Writing letters to creditors and the bureaus
- Fighting your case
- Filing formal complaints
- + More
If you are interested in learning more about our firm, call Marty Martin today for a consultation and case review.
Understanding Alimony and How Your Credit May Be Impacted
Certain financial obligations can feel like a tremendous weight is resting on a person’s shoulders. This may be especially true when you find yourself in over your head, unable to keep up with payments. For some, bankruptcy may be a viable option for financial relief. If you are obligated to pay alimony payments or child support (or you receive this kind of support), you may be wondering how bankruptcy may impact this obligation.
Speaking with an experienced Oklahoma credit repair lawyer in Oklahoma City is essential when evaluating your debt management options. Working with the team at Marty Martin Bankruptcy Law will not only allow you to get your questions answered, it will help you to understand how each debt management option available to you may impact your credit.
What is alimony and how long will I need to make payments for?
When two people determine that they will move forward with divorce, one spouse may require financial assistance in order to maintain their standard of living following the divorce. This often occurs when the supporting spouse is the breadwinner or earns far more than the person who is requesting the support.
The duration a supporting spouse will be required to make alimony payments for can vary. In most cases, alimony payments are made until the other person is able to get back on their feet again. In some cases, temporary alimony may be granted which may only be required until the divorce is finalized. Permanent alimony may be required for the duration of a person’s life.
The amount of time that you or your former spouse is required to pay alimony will impact the financial guidance you receive from a credit repair lawyer. Obviously, if your support award will continue for some time, that financial situation will impact your credit challenges and solutions more significantly than if your support award will expire soon.
What factors does the judge take into consideration when determining the duration for alimony payments?
There are a number of factors that help the judge to determine whether alimony is appropriate, and the duration for which it may be required. Factors may include:
- Lifestyle or standard of living during the marriage
- Education and work history
- The length of the marriage
- Age and health
It is important to note that if your financial circumstances (or your former spouse’s financial situation) have changed dramatically since alimony and/or child support was first awarded, you may be able to modify your award at this time. A credit repair lawyer can speak with you about the feasibility of a modification.
Will I be able to eliminate alimony if I file for bankruptcy?
Debts such as child support and alimony payments are considered non-dischargeable. Should you file for bankruptcy, you will need to list the spouse you are supporting as a creditor. Essentially, filing for bankruptcy will not eliminate your obligation to pay alimony or child support, if you pay alimony or child support to your former spouse.
Similarly, if you receive support, your former spouse won’t be able to discharge overdue support debt. This is one of the reasons why it is important to speak with an experienced credit repair lawyer before making any assumptions about how bankruptcy will affect not only your credit, but your existing obligations/sources of income as well.
What are the most common mistakes people make in regards to their credit?
When people see there is an issue with their credit score, they may act quickly to do whatever they can to improve it. However, there are some things that won’t improve your credit, and in reality, will ultimately hurt your score. Depending on your circumstances, a lawyer from Marty Martin Law may suggest not committing these common mistakes:
Cancelling Your Old Credit Cards
Did you know that around 15% of your credit score is generated based on the length of your credit history? So if you cancel your oldest card thinking that this will boost your score, it may actually bring it down. If you have balances on other cards and then cancel an older one, it can increase your debt ratio (which contributes to a third of your credit score). If you have sources of credit that have lasted seven years or longer, we are probably going to strongly encourage you to not cancel these lines of credit.
Not Prioritizing Timely Payments
More than a third of your score is based on payment punctuality. So payments that are more than a month late can impact your credit score. If you only keep up with payments for a couple cards but another is left unpaid for a long period of time, your credit score can still suffer. You may need to juggle cards, but it is crucial that you are not too far late on any one credit card.
Requesting a Reduction of Credit Limit
Some people may not trust themselves with a high credit limit, and may choose to request a reduction. The fact is that you are better off leaving a credit limit high and just not maxing it out unless there is an emergency that calls for it. In this way, you can keep your credit utilization ratio lower, resulting in a higher credit score.
Never Looking Up Your Credit Score
Finding out your credit score is easier than perhaps ever before, as there are various free apps and websites you can use that will update you on your credit score, including any changes that happen. Don’t assume that your credit is probably fine because you haven’t heard anything bad about it, it is important that you check in regularly to see how activity has influenced your credit score.
Call Marty Martin Law Today
A credit score can either hinder or help our financial opportunities. If you need guidance because of a credit score that could be better, don’t hesitate to call our office for insight. For a consultation with a leading credit repair lawyer in Oklahoma City, Oklahoma, call Marty Martin Law today.