Credit Repair Companies

Has anyone ever used an agency to repair there credit report? And if you have, how did that work out?

There is nothing a credit repair agency can do that you can't do for yourself. Also, there are a lot of scams and over-promising in the industry.

Just get a good book about the Fair Credit Reporting Act (FCRA). It will tell you how to challenge items on your credit report.

Thanks HHM.

HHM is right, just do your homework, with a little research and patience you can bring up your score on your own...without having to pay anyone or possibly be scammed.

Wes

Hey thanks Wes. I just purchased an e-book that was recommended by a member from this forum for $12 and now have a bunch of ideas on how to dispute items on my credit report. Great people on this forum. Thanks, -Joe

I used a company to do mine, as I did not have time. They got 56 items deleted off the 3 credit reporting agencies within 8 months. I have been very happy with them. My situation is totally medical. No credit cards, just astronomical medical bills for disabled husband AFTER the insurance company paid 80%!!

I agree with HHM 100%. Vanceswife's situation is special which may be why the Repair Agency was helpful. When it comes to CC companies however, you are better to deal with it yourself.

Has anyone had any good luck with credit repair companies?

I want to have something removed, and people have told me that there's companies out there were you can pay them a fee for each item they have removed.

True.....?

You can dispute the item itself with the credit bureau.....

Check out the sample letters in the credit repair section of the forum...........

Why pay someone else to do it???

I just need it done like yesterday, I'm 5 points shy of obtaining a loan.

NotFun, they're not going to get the item off any sooner than you can.

yeah but I think a lot of people are in the same boat were we dont have the time to research every little loop hole, and fight with the CRA to get things removed. There has to be good companies out there that can do this with ease.

I mean most of us didn't file out BK alone, so why stop there..?

notfun,

From what I understand of "credit repair companies" they can take just as long to remove something as any individual would. Some charge by the month, some by tradeline, some by hour. I personally would not hire one until I have tried over and over and whatever way possible to do it myself.

But, that's just me and I'm a cheapskate (sp?)

notfun,

From what I understand of "credit repair companies" they can take just as long to remove something as any individual would. Some charge by the month, some by tradeline, some by hour. I personally would not hire one until I have tried over and over and whatever way possible to do it myself.

But, that's just me and I'm a cheapskate (sp?)

Ditto. I'm preparing for a fight here soon. And instead of credit repair companies, I may go the rought of hiring a consumer lawyer to get nasty if I have to.

there are good and bad things about credit repair companies. Some of them can truly assist you. If you are the type that likes things do now, efficiently, but you dont have the time or the interest to do it yourself then maybe you should check around.

My ex used a credit repair company here in chicago, they were somewhat expensive, but less than 2 years out of a bankruptcy he went and within 3 months they took his score up a couple a hundred points, they got the bankruptcy removed, they added positive tradelines. By the third month he was approved for an unlimited amex card, as well as others. He has been trying to get me to go, but im cheap, and all self knowing, or shall i say i would rather take up the challenge and see if i could do it myself.

I would suggest you do your homework before you give your money to a company though. check the bbb, ask people who you know has had assistance from a credit repair company and what the results were. Its hard bc to be honest most people do not check on the work, they dont know their scores prior to the credit repair assistance. and several of them ruin their credit as soon as they get the repair done. so how do you know they truly got anything out of it, especially since alot of the work that credit repair agencies do for you is only temporary and ends up going back on your report once verified. I say the amount of time and research you are gonna put into checking out a company you could put forth learning the credit process on your own, so why not invest in yourself.

I have found that like all other industries, some are good at their jobs and some aren't. I also think that the consumer in this, like all other industries, should watch out for over-promising. If the services seem to good to be true, then they probably are. I think 50-100 points is realistic in a 12 month period.