I do understand this program but I am not sure that I am ready to live without my credit cards. Some of the companies that I have credit cards with I also have debit cards with. What assurance do I have that they will not get revenge and close out my checking accounts? It could take up to 3 months for the negative item to be removed from my credit report. How can I get my money back if this does not happen. The money back guarantee is for 60 days right?

You have asked some good and intelligent questions. The good news is, we have never heard of any institution raiding another account of the customer to compensate the credit card debt that they claim the customer owes.

This is due to the strength of the Liberty program. The questions, accusations, and challenges in the Liberty dispute letter and accompanying affidavit show the pretender lender that they are caught. If they were to take money from another account belonging to the same customer, they would be compounding their crime, and they know the likelihood is very high that the customer would then sue, using the arguments in the Liberty documents.

Against such a suit, the lender could not possibly win. We suspect that is the reason we have never heard of a single instance where such an institution went after another account of the customer to satisfy the so-called “debt”.

Further, if you have read the Liberty Q&A carefully, you will have seen that negative entries do not get entered on Liberty customers’ credit reports. This is because copies of all correspondence are sent to the credit reporting agencies, thereby showing that the account is not in default — it is in dispute. Until the dispute is resolved, they cannot designate it as a default.