Credit Repair...?
Has anyone used one of these credit repair companies?
Public Comments
- I haven't used any of these companies, and I wouldn't use them. You should read "Facts for Consumers" written by the Federal Trade Commission, an agency of the U.S. Government. (URL shown below.) Here is an excerpt that pretty much says it all: "Everyday, companies nationwide appeal to consumers with poor credit histories. They promise, for a fee, to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job. The truth is, they can’t deliver. After you pay them hundreds or thousands of dollars in fees, these companies do nothing to improve your credit report; most simply vanish with your money." But there's lots more good advice in the article.
- what they're doing is sending a letter to all of your creditors to "verify the debt". anyone who doesn't respond within 30 days must be removed from your credit report. you can do that yourself for free.
- Yes, but there are other options that work better such as seasoned tradeline programs that add you as an authorized user. They can bump you 100 points in 45 days. Check out the free evaluation form at www.totaldebtsolutionsllc.com Good luck.
- I tried a few credit repair places and two disappeared with my money. So now I have just gone to a different method of getting credit by using aged corporations with seasoned tradelines. I bought a corporation with credit and a paydex score of 87 that got me a new BMW and a house purchase - all in the corporations name without a credit check or personal guarantee. A site I've used for info in the past ... http://debt.knowledged.info/credit_card.html Hope that helps.
