Are credit repair companies legit and do they really help?

I am trying to raise my credit score quickly. Right now I am at 593-around 650 depending on agency. So, by paying off the 5 credit cards that I currently have(some with amounts ranging from 1,500-2,500), should that raise my credit score a great deal? If not, will a credit repair company help or are they just a scam?

Public Comments

1. unfortunately, there is no legal way to quickly raise a credit score. anyone who says otherwise is lying. the only way to improve a score is through prompt payment of debt. sorry.
2. Avoid credit repair agencies that charge a fee to improve your FICO score by removing negative, but accurate, information from your credit reports. No one can force credit reporting agencies or lenders to remove accurate information from a credit report. Credit repair companies often take your money without delivering what they promise, or provide only temporary improvements of your score, sometimes by removing accurate information that will reappear later. If you pay off the cards and keep your balance due below 30% of total credit, your score will wise, but it will take time. FICO scores are factored useing the following: Payment history 30% amounts owed 30% length of history 15% new credit 10% types of credit in use 10% Hope this is of help.
3. They can help if you have negative items holding your score down like late pays and collections, crap like that from the last 2 years, particularly if they are 6 months old or more. Check out the free evaluation form at www.totaldebtsolutionsllc.com Their partners offer credit repair from $125 to $1995 depending upon what level of assistance you need. Good luck.
4. ok, to raise your credit score, will not happen overnight, but here are somethings to do You can find more info here: http://debt.123thebest.info/credit_card.html All the best to you.