Attorney Ryan Patton Educates Consumers on Credit Repair

Credit is meant to be a measurement of one’s financial responsibility. When people go to get a loan, apply for a job, apply to rent an apartment or apply for a mortgage, credit companies are pulling their reports.

“Considering the Equifax breach, some of this information on your credit report may not be trustworthy,” said consumer protection attorney Ryan Patton, of Patton Knipp Dean, which focuses on bankruptcy and consumer law.

According to an Equifax statement for the record, names, Social Security numbers and dates of birth of 143 million U.S. consumers had been exposed, along with driver’s license numbers “in some instances,” in addition to the credit card numbers of 209,000 individuals. The company’s management had also reported “certain dispute documents” submitted by about 182,000 consumers contesting credit reports had been exposed as well, in addition to some information about British and Canadian consumers.

Credit errors can lead to numerous difficulties. “You may struggle to get financing for purchasing a home or car,” noted Patton. “You might get turned down for rental housing. You may face higher interest rates and insurance premiums, and you might even have trouble getting a job.”

By pursuing credit repair, one can get rid of outdated information. “Negative records should not remain on your credit score forever,” added Patton. “By law, they must be eliminated after a certain time frame, yet the credit reporting agencies may not take the initiative to get rid of outdated information. You may have to take the lead in identifying and disputing old data.”

One can also eliminate debts that have been discharged in bankruptcy. A person’s income-to-debt ratio weighs heavily in their overall credit score. If an individual’s credit report reflects debts that no longer exist, their credit score may unnecessarily suffer.

“You can also Identify and clean up inaccurate information,” concluded Patton. “Credit reports are not always 100 percent inaccurate. Mistakes and mix-ups can detrimentally impact your credit profile. It is more important than ever to check the reports. If you have wrong information on your credit report it can cause you to be denied. These days your credit score plays a major role in life decisions. We recommend all of our clients sign up for Credit Karma because it’s completely free.”

About Patton Knipp Dean

Patton Knipp Dean focuses on bankruptcy law, including Chapter 7 and Chapter 13 bankruptcy. Its Complete Bankruptcy Solution addresses all aspects of building a better financial future, from pre-bankruptcy guidance through post-bankruptcy credit repair services. For more information, call (913) 653-0862, or visit www.pattonknipp.com.

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