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LH Credit Repair Service - NewsLatest News!Press Releases Septmeber 25, 2007: What It Takes To Repair Your Credit This article explains in detail why it takes time to clean your credit report. First we work up the demands that need to be sent to the credit bureaus and creditors. Within a matter of weeks following this submission, the client will begin to receive documents from the bureaus by mail. The reports that you get back, or the answers from the bureaus are then sent to us (you get them before we do). The law states that it doesn't make any difference if an account is yours or not, it has to be presented accurately. A good example of this is a bankruptcy. The law states that a credit bureau has to provide the consumer with the name, address, and phone number of any person/entity that puts bad debt information on a consumer’s credit report and that person/entity must be able to prove it’s accuracy. The bankruptcy on a consumer’s credit report will list the address to the bankruptcy court. The bankruptcy court does not report to the credit bureaus. So that makes this inaccurate information even though the information is the consumer’s, they must remove it and anything that goes with it. Another good example is collections. A collection agency makes it’s money by factoring (this is buying bad debt). They pay 2 to 7 cents on the dollar for your accounts. Your debt is satisfied at the time they buy it. You can no longer go back to the lender and pay them, and you have never signed a contract with a collection agency to pay them any money at all. The law states, you can not accept monies for monetary gain with out giving some thing in return. That makes collection practices unlawful and inaccurate, when this law is applied, they must come off. Some items take longer than others, for instance, 30 days past due. Companies that you pay have a 15 day grace period so you can be 45 days past due but you cannot be 30 days past due, that makes this inaccurate. We go back to the creditor and make them prove that you were late. Then we make them show the date on the instrument that you use to pay and that date must be before the due date, if it is not then that makes the late inaccurate, and they have to remove it. You are not responsible for human error, nor are you responsible for the US Postal service time constraints. As you can see, the work can take some time. Our services should be complete in approximately 60 to 90 days, considering reports are sent to us promptly from the consumer. However lately, it has been taking the credit bureaus longer to update their records. There is no law making creditors answer you, so we have to keep on them until they do. I hope this letter has been of help to you. Don’t stop once the process has begun, quitting only hurts you. What kind of life do you have with bad credit? Only you can change it and we can help. Lee Harrison Contact:
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