The FICO Scoring Model is a complex system of algorithms that create a risk level rating for lenders to determine whether or not a candidate is qualified for a mortgage, auto loan, credit card, as well as many other forms of underwriting. The average consumer is unaware of what variables lend weight to their FICO scores and often find themselves making uneducated decisions. 80% of credit reports in America fall victim to erroneous and undeserving information, thus lowering the credit worthiness of the individual. At Riverstone Law, we represent you to help correct the negative and erroneous information that is impacting your FICO Scores.

Our team will launch several investigations on your behalf with the three major credit bureaus, Equifax, Transunion, and Experian. Our investigations require that the creditors erroneously reporting information provide thorough documentation to substantiate their claims. According to the Fair Credit Reporting Act, when the creditors are unable to do so, this information must be removed.

While nothing supersedes legal representation, there are several best practices that you can subscribe to in an effort to help maximize your FICO Scores. These are by no means the only variables that drive your credit scores, however successful implementation of these efforts can have a positive impact on your scores.

PAYMENT DATES

Payments dates are you first line of defense with respect to managing your credit scores. Knowing these dates and making your payments on time is imperative.

REVOLVING BALANCES

Revolving balances can make up more than 30% of your FICO Scores. Best practice is to keep these balances below 30% of the available credit limit.

TYPES OF CREDIT

Credit scores are intended to display the risk adversity of a specific individual. It is crucial to maintain a good blend of different types of accounts.

Are you seeking counsel due to erroneous credit scores? Have you suffered a decrease in your FICO scores due to negligent reporting? Are you attempting to locate your competent partner for corporate law or estate planning? The Riverstone Law team has decades of experience assisting our clients with credit repair, corporate law, and estate planning. If you would like to schedule a free consultation, click the button below to get in touch with our team of in-house experts.