Credit Repair

[Brooke Wilde]

I was wondering if anyone has an opinion or any experience with credit repair services?

I’ve been working on my credit on my own for a few years, however I am still in the low 600’s.

Does something like this service actually work? Has anyone used one of these services? Are they legal?

Are there any hobbiest here who do this kind of work? I'm not looking to barter, I will pay in cash or paypal.

Thanks,
Brooke

[Trey]

They are a scam if they get one small blockbuster late fee off your credit they claim victory. Don't do it it ain't worth your time.

[Jumbo_mumbo]

This kind of service only gives you higher rate of interest, yes they consolidate your other credit (credit cards, etc) into on account but will be higher than most of your credit cards combine.

[funlovin2007]

They're all pretty much scams. Just keep paying your bills on time and your credit will go up. If you have any chargeoffs in your credit history it will take some time.

[pyramider]

Most are scams. Some are owned by the credit card companies. Take care of it yourself ... Like funlovin said just pay your bills on time and the credit score will naturally rise.

[carkido45]

pay your credit cards a lil earlier and put a lil more per payment .

[Brooke Wilde]

Originally Posted by funlovin2007

If you have any chargeoffs in your credit history it will take some time.

This is the problem I seem to be having. I have stuff on my credit report that is from when I was 18, 19, 20 so we are talking 9 + years ago and it is still on there.

I have wrote letters to all 3 credit reporting agencies and went through the process that each one of them have to remove these items, yet they still remain on my credit report.

How in the heck can I get those off of there?

[Jumbo_mumbo]

Best thing probably to pay off all your debt.

[Brooke Wilde]

Originally Posted by pyramider

Most are scams. Some are owned by the credit card companies. Take care of it yourself ... Like funlovin said just pay your bills on time and the credit score will naturally rise.

Interesting. I didn't know that.

As far as paying my bills on time and improving my credit, I guess that maybe my problem. I don’t have any credit cards or debt. My only bills are car insurance and health insurance. My condo is owned by a couple and they don’t report anything to the credit bureaus and it is all bills paid so I don’t have a cable bill, or light bill or internet, ect. I make 4 payments each semester for my school so I don’t have any student loans either. And my cell phone is not in my name.

Is accumulating some debt the best way to clean up my credit? Will taking out a student loan do that?

[Brooke Wilde]

Originally Posted by Jumbo_mumbo

Best thing probably to pay off all your debt.

I don’t have anything current. Everything bad I have on my credit report totals about 9k and it is all from 2000, 2001, 2002 & 2003. I really missed up my credit when I was in my late teens to early twenties.

Then I did not even attempt to apply for anything with credit again till 2009. As for my old debts, I was told not to pay on any of those because it will start the statue of limitations over again.

[Brooke Wilde]

Originally Posted by trey

They are a scam if they get one small blockbuster late fee off your credit they claim victory. Don't do it it ain't worth your time.

Well that sucks!

[Wakeup]

So you have $9,000 in bad debt that has been in collections for a decade and you're wondering why your credit score sucks?

[HoustonMilfDebbie]

Don't waste your money! Just get a car financed and make your payments. After you get close to being paid off, you will get all kinds of credit card applications who will finance you with no questions asked.

[Who cares!]

That is correct! Do not pay anything on the old loans or credit cards. Contact the Credit Bureau agencies once again and this time, create a reference number and copy the FCRA with a comprehensive detailing of the efforts you have tried in having the issues resolved.

Thenext stepis somewhat painful: Take out a student loan or two and take the interest only payment option; then get a secured credit card. You could get one as little as $300 oras high as $1,500.: A good starting point will be $500and make sure you use it quite frequently, like gassing up your car and then paying it off monthly.Within 9 months, depending on the credit card issuer, you would have the secured stipluation removed and the desposit left in a savings account for you (It will be earning interest during the period as well).
One problem,you are encountering is the "credit utilization" factor. You have nothing to show your credit worthyness.

Hope this helps and good luck in getting yourself back on track.

[pyramider]

I thinck they can only post charge offs for seven years. I might be wrong. Of course the collection companies can get around that by selling the paper to another company and I thinck the clock starts again.