THERE ARE 2 KINDS OF CREDIT REPAIR COMPANIES
- US: The kind that REQUIRES you to pay/settle past due debts.
- THEM: The kind that encourage you NOT to pay past due debts.
Lorin requires customers to have the desire and ability to settle debts. This includes unpaid collections, charge offs, judgments & tax liens. Why? No matter how high your scores, when past due debts are reporting, you can still be denied important loans (like a mortgage). Further, you can be sued and/or garnished for these debts! That means credit repair is never complete until all past due debts have been resolved. Therefore, Lorin’s philosophy is that debts need to be resolved during this program. Of course, past due debts do not apply to every customer. Also, there can be extenuating circumstances (like ID theft or debt older than 7 years).
Why do some credit repair companies encourage you NOT to pay debts?
To lure you in. Then to keep you in. The longer you don’t resolve your debts, the longer it takes to fix your credit, the longer you’ll be stuck with their service.