The leading credit correction firm encourages consumers not to despair over mounting credit woes.
July 8, 2009 | Salt Lake City, UT | (PR Web)Recent reports highlight a disturbing trend in America: average credit scores are falling in states across the nation. This trend is most evident in those states hit hardest by the slump in the housing market. The western states of California, Arizona, and Nevada each saw a double-digit drop in the average consumer credit score during the first quarter of this year. With average consumer credit scores declining and lending requirements moving in the opposite direction, one thing has become clear: our national credit crisis has become a very personal credit crisis for millions of consumers.
Stakes are high when it comes to consumer credit. From homes to automobiles, credit affects almost every aspect of life. Because negative information can remain on credit reports for 7-10 years, the road to recovery may seem like a long one. However, according to the leading credit correction firm, Lexington Law, that may not always have to be the case.
“The complex nature of the credit system is one that often leads to information being reported that does not accurately represent a consumer’s actual credit history or risk.” Says John Heath, Lexington Law’s Directing Attorney. “This is evidenced by studies showing that 79% of credit reports contain errors. At a time when credit is so important, it is critical that people understand their consumer credit rights.”
Many consumers are not aware of their legal right to challenge information on their credit reports. They oftentimes feel as if credit is a conversation solely between creditors and credit bureaus — a conversation in which they have no say. According to Heath, though, consumers do have an important and impactful role when it comes to their credit.
“If our firm has proven one thing, it’s that credit repair is possible. Our firm alone assists our clients in the removal of over 1500 outdated, questionable or unverifiable negative items every day. I would encourage anyone struggling with limitations of bad credit to not get discouraged and take action by exploring their credit options. There is most certainly hope.”
About Lexington Law
Lexington Law is a consumer advocacy law firm with 21 years of experience helping over 1/2 million Americans work to improve their credit. The firm empowers credit success through effective services which leverage consumer rights to legally resolve issues with credit bureaus as well as creditors, assuring that clients’ credit reports are a fair and accurate representation of their true creditworthiness. For details about Lexington Law’s services, attorneys, or statistics visit: www.lexingtonlaw.com.