Credit Repair Frequently Asked Questions
Q. Do I have to be a California resident?
A. At the time we bring the lawsuit, you need to be a California resident or the creditor or collection agency must be a company based in California. The reason is that we are suing under a California law, which means either the victim (you) or the perpetrator (the creditor or collection agency) must be a California resident.
Q. Why should I pay $3,000 to remove a $300 debt from my credit report?
A. You should exhaust lesser efforts first including phone calls and letters. Offer to pay the $300 if the creditor will delete the debt completely from your credit reports and will guarantee to do that in writing. What you may find is that the creditor claims it cannot do this or otherwise refuses to do it. Other creditors will promise to delete the debt, but will refuse to put this promise in writing (meaning they will likely double-cross you). When these efforts fail, then you need a lawsuit and an experienced skilled attorney to bring it. That costs money. But remember the results are guaranteed.
Q. What if I just pay off the debt myself without even contacting the creditor?
A. If you do that, the debt will remain on your credit report for approximately 7 1/2 years from the original delinquency date. It will just be updated to show paid as agreed or paid in full. However, the credit reports will likely still contain references to “late payments,” “placed for collection” or “charged off.” In other words, the negative marks will remain.
Q. How can Lakeshore Law Center offer a Money-Back Guarantee since the results of litigation are always uncertain?
A. Because we are that good. Seriously though, we are not going to accept your case unless we foresee a high probability of success based upon the facts. Since you do not pay us until after we have agreed to accept the case, the risk is virtually all on us.
Q. Is Lakeshore Law Center a credit repair organization?
A. No we are not. We do not guarantee to improve your credit. We guarantee to remove negative marks from your credit report. We are suing under California’s Credit Reporting Law which allows you to obtain “injunctive relief” (a court order) that the creditor or collection agency comply with that law and remove the negative marks. So you are paying for an attorney to file and prosecute a lawsuit to enforce your rights under California’s Credit Reporting Law. How that will impact your credit score depends on numerous variables. Moreover, we are not writing letters or making phone calls or making frivolous disputes like credit repair organizations typically do. Instead, all we do is file and prosecute a lawsuit to enforce your rights. Finally, most credit repair organizations are run by non-lawyers or maybe have a lawyer (often as a figurehead) at the top and numerous non-lawyer flunkies working under him and doing all the work. Virtually all work at Lakeshore Law Center will be done by attorneys with combined experience of over 35 years.
Q. Shouldn’t I just hire one of those credit repair companies that charge $50-$100 per month to dispute adverse information on my credit report?
A. That would certainly be cheaper, but you may find it to be ineffective. Those companies employ computers that spit out form letters which the credit bureaus receive and then their computers spit out form notices to the creditors, who then respond with their own form responses. The end result is in many cases the “dispute” is rejected. Give it a try if you want but when it does not work contact The Lakeshore Law Center and see what we can do.
Q. How long will this process take?
A. That depends on many factors. How many companies are you suing? Even if there is only one defendant company, will it admit its error or will it want to “fight” the case? Some cases are resolved within 60 days after the lawsuit is served on the defendant. Other cases, can take 6-12 months or even longer.