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Tuesday, 23 December 2008

Lexington Law Firm: The Trusted Name in Credit Repair

One of the largest and oldest credit repair company in the country is the Lexington Law Firm. Catering to over half a million clients, it has been in business for 17 years. The Firm assists clients with their credit ratings and is the professional help that one should seek in times of credit despair.

Lexington Law firm’s advantage over all the other top credit repair companies is that it is a real law firm. The company has in its employ over 400 lawyers, paralegals and agents who make sure that clients get the best service available. What’s more, they make the process seem very easy and effective. The people at Lexington Law firm work to ensure that your rights as a consumer are being upheld, and that any error or questionable entries in your credit report are removed, working toward a better credit rating for you.

In addition to a free consultation, also available on their website is a free book co-authored by their lead attorney, John Heath. The book’s title is Credit Revolution – Path of the Smart Consumer. In order to avail of this book, all you have to do is fill out a form on the website and it will be mailed to you within a week or so.

As proof of Lexington Law Firm’s outstanding reputation, testimonies can be read on their website attesting to the outstanding service provided by the firm. It is therefore, not very surprising that people with credit troubles choose to enlist the Firm’s services to help them with credit repair. After all, it is a matter that greatly affects their lives, so they could do nothing less but go for the best, which is Lexington Law Firm. Please visit my full Lexington Law review site to see how well they handled my credit repair!
How to Delete a Judgment from Your Credit Report

Debt collectors often resort to filing charges in court. Once judgment has been made, it will reflect on your credit report. But, as with other negative information, you can avoid having a default judgment be entered into and become a nasty record in your credit report by disputing the validity of the judgment or by settling this out of court.
Avoiding a default judgment is not only good for your credit rating; it could also save you the problem of having to wait out the statute of limitations or SOL on judgments. SOL’s on judgments could last up to twelve to twenty years or even longer especially when collection agencies move to renew the judgment before the expiration of the original judgment. Technically, a judgment could follow you for life so you should do everything possible to avoid this being reflected on your credit report in the first place, or risk having judgment hounding you for the rest of your life.

However, if you are among those who already have a judgment on your credit report, there are still ways to have default judgment removed from your credit report. In fact, you can choose from different strategies and options where the most common is by disputing the report or information with the credit bureaus. In fact, any disputed negative information can be removed or deleted from the credit report once it is found to be unverifiable.

Other people send “pay for delete” letters in negotiating with creditors. This way, they can offer an amount in exchange for the approval and subsequent removal of the judgment information from the report. The letter can also be used as a written proof of your formal agreement. Please feel free to visit my top credit repair companies review websites.
How to Delete a Charge Off from Your Credit Report

Building a good credit line takes a lot of effort. That’s why having a charge-off in your credit report is very harmful to your reputation as a borrower.

A charge off occurs when you don’t pay your debt on time until it stretches out to 180 days. For tax purposes, this is written off as un-collectible by the creditor and therefore, reflected as losses to the lending company.

Having your debt charged off is not as simple as deleting your account. Your debt is actually sold off to a third party collector who will endeavor to collect on your account, employing any means, legal or not, for as long as they can convert the debt to payments.

Even after paying the charge off, the record will still reflect on your credit report for seven years. This would seem ages, if you are hoping to get a loan for an important expense. However, removing a charge – off from your credit report is very negotiable; there are legal ways to remove it.

This process involves a lot of writing. First, you can write the credit bureau to dispute any part of the report you deem might have errors. If the credit bureau maintains the veracity of the account and still verify it, you will have to deal directly with the creditor. Call the creditor company and ask for a contact person to negotiate with. Make sure that in the negotiation process you keep a record of everything in written form as proof, especially when you bargain for the charge off to be removed from your report.

Charge offs should not prevent you from doing things that would improve your living conditions. Remember, you don’t have to wait 7 years to go on with your life. Immediate and concerted action is all that is needed for you to improve your credit report, and take that burdensome charge off from your account.
After Bankruptcy: Repairing your Credit

Among people who have filed for bankruptcies, there is a common misconception that, once bankrupt, they can no longer apply or be eligible for credit for up to ten years.

In truth, it is still possible to obtain much needed relief through credit except that the process is rather complicated. However, if you are determined, nothing will stop you from finding the means by which you can put your credit back in shape. And if you take the right steps, you can even start by getting approval for small loans within months after filing for bankruptcy.

The Ten-Year Wait

First, ten years is a sort of moratorium on getting credit, because the bankruptcy is legally reflected on your credit report during all that time. It is tantamount to being blacklisted by creditors for ten years, or for as long as the bankruptcy appears on your record.

It does not mean, however that you cannot get credit for the whole period. In fact, it is even possible to have the bankruptcy removed from the credit report much sooner.

Start Removing Bankruptcy

You can have a bankruptcy removed from your credit report. A good way to do this is to properly dispute these reports with the credit bureaus. As any consumer knows, it is within your right to legally dispute any information or misinformation on your credit report, not only because you want to enhance it, but more importantly in order to correct items that you have found to be erroneous or questionable.

And, if you just went through a bankruptcy, chances are there will be plenty of errors to correct. For its part, the credit bureau will then move to verify the information with the information provider so that if it cannot be verified, it will be removed from the credit report.

Work on Rebuilding Credit

Slowly start rebuilding your credit after bankruptcy by adding positive credit to your credit report. Try to get a secured credit card or by contacting your local bank or credit union and discuss your intention to start anew. Do not let those who turn you down dampen your resolve. For sure, there will be someone who will be willing to help.

Use Credit Wisely

Becoming bankrupt is not the end of your plans, or your advancement in life, as there are still a lot of avenues which you can seek to start over again. However, to avoid doing the same mistake that led you to financial disaster, be more prudent and cautious this time. Do not be in a hurry to get more than one or two credit cards. Dispose of them once you have established credit through other means. Remember, credit can be potent if it’s used wisely but can also be hard on those who are prone to abuse it.

Take your time to educate yourself on the workings of the system – i.e., the credit system, credit reporting and credit scoring. If you do plan to succeed this time, you will need to arm yourself with new knowledge and new financial habits. And from where you have come from, there is no other time that the importance of credit will be felt than now, so be aware and be sure. If you have more questions you can visit my Lexington Law Firm review website or the credit repair forums.
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