30 day lates, hire Lexington Law?

[Anonymous]

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@RobertEG wrote:

If the reporitng is accurate, then remedy is to make a request to the creditor for their good-will deletion.

The basis for your good-will plea must come from you if it is anything more than just a vanilla request for deletion.

A credit repair organization cannot develop mitigating factors.

They cannot shed crocodile tears on your behalf.

After being informed of your mitigating circunstances, they only put your reasons to paper.  No particular credit reporting expertise is required to write a letter asking for good-will.

Add to that the fact that credit repair organizations have a somewhat bad rep, which even extends to their statutory exclusion under FCRA 623(a)(8) from filing direct disputes on behald of a consumer, and I would advise making your good-will requests personal by doing it yourslef.

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I get it.  No one wants to hear about others "working" the credit scoring and reporting system.  But the reality is, it's human nature.  I go over the speed limit on a daily basis, and i enter cross walks when the red hand is flashing.  Yes i'm working the system, but to advocate that you never work things in your favor is not very fair in itself.  I'm just being real in this situation.

Good chatting though, and i always love hearing peoples opinion.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Cost is not a a factor in this. No expense will be spared.

I have 4 or 5 30 day lates on my bureaus, most were in 2012, one as long ago as Jan 2009.  That's it for baddies.  HOWEVER, I want them gone!  Would you guys go as far as hiring a credit repair agency like Lexington Law to remove the baddies?  

Whats your our expenience with Lexington law and removing lates on your bureau?

Once again, cost is not a factor in this.

Thank you

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I want to be 6'2" and 180 pounds, too..... Not likely to happen. Some things in life we just can't have no matter how bad we want them. Throwing money at a credit repair company will most likely result in a lessening of your bank balance and little else.

You're in a heck of a lot better shape than many of us here - be thankful for that. My advice is look to the future, not the past, and do whatever it takes to prevent a re-occurence of past mistakes.

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But that's not a very good example.  Credit is not static, unlike your full grown height.  Credit can and will change.  We can't have all things, but you would never know until you try, right?  And trust me, I'm very thankful for my recent credit success. But I'm reality, it's from my hard work and was bound to happen. Thanks for your opinion.

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Its an example of wanting something that "may not" be realistically achievable. Your desire, strong as it may be, may also simply not be achievable - at least in the time span you are speaking of.

[UncleB]

Slipper, just sent you a PM.

[CH-7-Mission-Accomplished]

If your newest 30 day lates are from 2012 (three years old) and some from 2009 (six years old), and you were never later than 30 days, at this point they are having almost zero effect on your scores.  Zero.

Firms like Lexington Law and other credit repair firms just automate the letter writing process, finding angles to dispute that may or may not be accurate, but sometimes they work because the lender fails to respond in time.  This type of disputing is not allowed on myFICO as the site owners believe it is unethical.

In your case, what would likely happen if Lexington were successful is that those nice old accounts would get deleted and your average age of accounts would drop and your scores would drop.  That's the truth.  So you would pay $100/month for 6 months or 12 months and have lower scores.

[Anonymous]

Thanks for that.  Yeah the last thing i would want is for an entire tradeline to be deleted.  I'm crossing my fingers and hoping my goodwill letters work!

[UncleB]

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@Anonymous wrote:

Thanks for that.  Yeah the last thing i would want is for an entire tradeline to be deleted.  I'm crossing my fingers and hoping my goodwill letters work!

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To me, using Lexington is a little bit like spinning a wheel.  You might end up better off, just the same, or (occasionally) worse off.

I had a foreclosure that was showing "included in Bankruptcy", which it wasn't.  It was (properly) disputed, and when the results came back, the bankruptcy notation was removed and it now simply shows "0 Balance", and reports as a positive account. This was unexpected, but I would be lying if I said I was not pleased.  I'm certainly not going to 'dispute' it again to have it changed to 'foreclosure'.

It was not my intention for it to happen like this, but I'm certainly not complaining.  Sometimes when I have (again, properly) disputed accounts the entire account is removed, and sometimes just the history is updated.  Sometimes removing the whole account is OK, a few times when it was an old account it did impact my AAoA a bit, but in the end there was a net gain because erroneous negative history was removed.

Something else to consider is that with some lenders it's better to have a shorter history than a negative history, so as I like to say, "with all things credit, YMMV". 

[Anonymous]

I looked at LL as well. I'm a researching kind of a girl, and what I found about LL is that if speedy results are what you want, don't hire them. The longer they draw out your case, the more money they make. For your derogs, I wouldn't even worry about it. But that's just my humble .02 worth. Good luck, whatever choice you make.

[RobertEG]

If your credit repair involves items for which you clearly feel a dispute of their accuracy is justified, then a direct dispute is often preferable to filing a dispute through a CRA.

A direct dispute ensures that all your supporting documentation and arguments are received by the furnisher of the disputed information, and thus available to them when they investigate your dispute.

Diisputes filed with a CRA are referred to the furnisher of the disputed information by the CRA using their electronic e-Oscar system, which notoriously omits information in their referral.  While the CFPB has been cracking down on lack of referral of ALL information by the CRA to the furnisher, it is still not a sure thing.

The relvance to the post is that credit repair organizations are explictly prohibited under FCRA 623(a)(8) from use of the direct dispute process, and the implementing rules for the direct dispute process, found at 16 CFR 660.4, extend that prohbition to dismissal of any direct dispute that even intimates that hte consumer used a form provided by a credit repair organization in the prepartation of their own direct dispute.

You can do a better dispute without using a credit repair organization if you wish to take advantage of the direct dispute process.

That speaks volumes.....

[Anonymous]

I had lexington law for about 2 months, They were able to get rid of a Comenity Bank Express Charged off Card removed, and another minor collection for a book rental removed, I was impressed! I was just unhappy of the speed they were doing it, they really looked like they wanted to drag this along as long as they could, they could half sent out more letters at once, but they did only one at a time and I grew impatient! So I started doing it my self and save the 100 bucks a month! If your lazy Id say go for it, if you can write a letter your self then you should because it will probably sound more sincere.

[Anonymous]

I didn't see a specific mention re. whether the accounts are still open, or now closed; if still open,Lexington Law would be asking the CRAs to break the law by removing late pays. If (when) the accounts are closed and PIF, GW deletion might work. Losing a derog TL, for me, would be better than the lates reporting.