Credit repair companies?
does anyone have any facts on these credit repair companies?can they really help to build your score legally?I filed bankruptcy in 2003 and need help getting some items off and build my score.
Public Comments
- I don't recommend working with credit-repair companies. They tend to overpromise and underdeliver. So keep your money, and follow these steps- If you really want to clean up your credit, here is the best way to go about it. Contact the three major credit bureaus yourself and dispute any inaccurate information in your credit report. The Fair Credit Reporting Act requires the bureaus to investigate your claims and to fix any errors within 30 days. However, if you are trying to get negative items off your report that are legitimate, they will not be removed. Often, a credit repair company will promise to get negative information that is legitimate removed from your credit report. That is not possible, and they know it. Then the company will take your money anyway and refuse to return it after they failed to perform their service.They should be reported to BBB and FTC for using deceptive practices. Order your credit report online from each bureau(remember you get a free credit report every year from each bureau) and contact by phone to report your dispute, then follow up by certified mail.(sounds like a pain, but definitely worth the trouble) equifax.com 1-888-766-0008 Equifax Credit Information Services, Inc. P.O. Box 740241 Atlanta, GA 30374 experian.com 1 888 397 3742 (mail dispute to address listed on credit report) Transunion.com 1-800-916-8800 TransUnion Fraud Victim Assistance Department P.O. Box 6790 Fullerton, CA 92834 Now, if you really have incorrect items on your credit report, getting them fixed should improve your credit score. In the meantime, the wise thing to do is to open a credit card, which is easy to do after a bankruptcy, and use it for small things each month, and pay it off every month. Don't miss any payments, and within a year you will see your credit score begin to rise. By 2010 your bankruptcy should be erased from your credit report and you should be doing just fine by then, with a credit score in the 700 range. any further questions, just email me. I'll be happy to help. epistrummer@hotmail.com
- I filed for chapt.13 in 2001.Pay all your bills on time! Get a secured credit card. You give them about $500 and that is your credit limit. Deposit money in a bank and get a loan against it. Called a secured loan. Bottom line you need to establish trust between you and the financial institutions. Many credit repair companies are a scam! They prey on people who have little financial savy. You can rebuild your credit yourself. You bankrutcy remains on your credit for 7 yrs. Borrowing for a car will be very expensive during this time. Like 20% interest. You may be able to buy a home if you make a big deposit.
- Stay away from so called "credit repair" companies. They make false promises and charge you a fee for what you could do on your own. Sometimes you end up in debt over them. Then you owe them! That's worse! If you have things you need to dispute, get your credit reports from all 3 bureaus, and dispute the charges by mail. Get free advice, but do not pay someone to rebuild your credit. Only you can do that by paying off your old debts. Bankruptcy can show on your credit for 10 years, so you have to take care to live responsibly. Open a small line of credit, and keep it in excellent standing. Take extra care with new credit cards-only spen less then 20% of it's worth, and pay all your current bills on time! Go to this website for tips: http://credit.com However, don't get excited and start applying for debt help. Just read the tips. They are very useful. Good Luck!
- Here is a great resource for credit repair that teaches you who to do it for yourself and also do it for the others to earn money and it's even for less then $30 ----------------------------------------------------------- http://www.creditrepairprofits.com
- Check out the free evaluation form at www.totaldebtsolutionsllc.com --They partner with a true non profit that provides a high quality service for just $125. My mom used them and her score jumped 60 points. Good luck.
- Credit repair companies are a scam. If you go to the Federal Trade Commissions web site at a good website they have a bunch of info about it. I've bookmarked this site... http://www.safelinked.info/jump.php?link=debt Best of luck.
