What is your opinion of any service that offers credit repair?
I need to fix my credit, and there are people on E-bay and elsewhere who guarantee the full restoration of my credit. Are they legitimate?
Public Comments
- NO! You cannot "repair" your credit in any fashion. I speak from experience on this one.
- Scams, Apply for free cards via Internet, likely high interest do not buy a card or pay a fee. Use that card as cash pay your bill each month in full and in 1 to 3 years your credit will improve. I hope this helped I did it I now have a car and house.
- NO READ THE LINK I PROVIDED.
- run...most of these services don't help you just take your money. you may want to listen to http://www.daveramsey.com. his group provides legitimate counseling services that help.
- Credit counselors are free in your local area. You should never have to pay someone to repair your credit. You're just getting into more debt by agreeing to pay them. All you need is some guidance to do it yourself and that is free.
- Be very careful when you get these emails...in general if it seems to good to be true it most likely is. There are legit credit repair programs out there BUT, they are not as helpful as they seem. The best way (there is no easy way) is to pay down they card or account with the highest interest rate or APR first. Then go down the line until you have your debt paid off. Then to repair your credit keep a balance on your cards but keep it below 30% of your credit limit. This shows that you have and can handle credit. Also when you pay your bills, pay more then the minimum balance. Also try to pay before your finance charge is charged. That way you pay less interest on what you owe. Here is a very useful website about credit repair. http://www.charterfundingmn.com/library.html?category=credit&p=309566&acctid=309566&PVLID=7552
- And to add to the above answer, If you do need help, go to the book store and purchase "Guaranteed Credit" by Arnold S. Goldstein. For about $20 you can do as well as any so-called credit repair. Oh, and no one can guarantee to fix your credit if they don't know what you have on your report. Many credit issues can be repaired through settlement agreements directly with creditors. They can also remove negative info from your report.
- The credit repair industry has a bad reputation for not providing the services promised and over-promising the services they can provide. The bottom line is that credit bureaus have an obligation to verify if information on your credit file is accurate -- not whether it is good or bad. Many credit repair organizations simply obtain your three credit reports and dispute every negative mark they find on them -- even if those negative marks are accurate. The BBB's advice regarding credit repair organizations is: --- Start BBB Advisory --- http://www.bbb.org/alerts/article.asp?ID=323 If you decide to respond to a credit repair offer, the Better Business Bureau suggests you beware of companies that: -- do not tell you your legal rights and what you can do -- legally -- for free; -- recommend that you not contact a credit bureau directly; -- want you to pay for credit repair services before any services are provided; or -- advise you to dispute all information in your credit report or take any action that seems illegal, such as creating a new credit identity by obtaining a federal employer identification number to use instead of a social security number. If you follow illegal advice and commit fraud, you may be subject to prosecution. --- End BBB Advisory --- You can learn more about the Credit Repair Organizations Act (CROA) and the Fair Credit Reporting Act (FCRA) on the FTC's website at: http://www.ftc.gov/bcp/conline/edcams/credit/rules_acts.htm The CROA dictates what a credit repair service can and cannot do. The FCRA codifies your consumer rights regarding credit reporting and credit disputes. If you need to repair your credit, you can do it yourself. You just need to obtain your credit report by going to: https://www.annualcreditreport.com/ Then, dispute errors on your credit report using each credit reporting agency's online dispute system. Equifax: https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=online_dispute&partner_cd=PPSS1 Experien: http://www.experian.com/disputes/index.html TransUnion: http://www.transunion.com/content/page.jsp?id=/personalsolutions/general/data/DisputeCreditReport.xml&from=TransUnionHome All the information you need is free and online.
- i am getting my credit repaired from a company called Third Eye Inc. I received updated credit reports from the credit bureaus and i have had 14 itmes deleted off of my credit report. try thrid eye inc. www.3rd-eye-inc.org
- they want way too much money for the little bit if anything they can do
- Hi, most of them are scams as your credit will start getting repaired once you start making payments on time. The best thing is debt consolidation, you can consolidate your bills and make payments and still have money to spend. Spend wisely and save and in due course your credit score would have automatically improved. A few articles that might help are: Debt Consolidation - Get Out Of Debt http://www.askaquery.com/Answers/qn1643.html How to Hire a Debt Counselor? http://www.askaquery.com/Answers/qn1584.html What is Debt Relief? http://www.askaquery.com/Answers/qn1583.html Debt Management and Building Wealth http://www.askaquery.com/Answers/qn1581 How to lower your debts? http://www.askaquery.com/Answers/qn1576.html How to reduce debt : How to lower your expenses? http://www.askaquery.com/Answers/qn1577.html
