desperately need to repair my credit! Is there a company to contact?
greeneyepit asked:
My credit is low in the 500s. I need to know the best ways to repair it? A referral to a good company. I tried to repair it myself and don’t have the time or patience. I would prefer to consolidate my debts to one loan but heard that is a bad idea.
Joann
My credit is low in the 500s. I need to know the best ways to repair it? A referral to a good company. I tried to repair it myself and don’t have the time or patience. I would prefer to consolidate my debts to one loan but heard that is a bad idea.
Joann
Tags: Bad Idea, Consolidate Loan, Good Company
July 31st, 2009 at 8:41 pm
Gladys
You can’t really “repair” it in that sense of the word, no matter what anyone tells you. If you want to pay me a fee, ‘ll do it for you, because it’s really quite simple.
In most cases, credit “repair” is just the process of sending letters to the three credit bureaus claiming that a negative item on your credit report does not belong to you, you never had that account, or some such lie. The way the Fair Credit Reporting Act works is the credit bureuas have to investigate each dispute letter they receive. They do this by sending an inquiry to the creditor asking the creditor to verify the accuracy of the item. Now, here’s the catch, and how “credit repair” agencies work - the original creditor has 30 days to submit a verification to the credit bureau. If the creditor messes up and does not do that within the 30 days, the credit bureau MUST remove the negative item from your credit report. Send enough dispute letters (all HAND written) and sooner or later someone will mess up and not do the verification in time. It’s that simple. Because this usually means sending out several dispute letters for the same item, and since it takes at least 30 days (more like 60 by the time the credit bureau gets back to you) it can take a year or two to get things off. The key is to keep disputing and disputing and disputing.
There is nothing that a credit repair outfit can do for you that you cannot do got yourself.
August 3rd, 2009 at 4:21 am
Martin
I brought my credit from 650 to over 800 with free information I found online. Do a search, there is tons of free info available.
August 5th, 2009 at 11:46 pm
Catherine
No firm can remove accurate negative info so don’t waste your money. Consolidating debts into one loan won’t fix your credit either…sorry
If you have negative items on your credit report that involve non credit card debt, then you can try to negotiate the removal of these items with Pay for Delete agreements. This could help your credit. Unfortunately, this will not work with charged-off credit card debt.
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Negative items will fall off your credit report in 7 years as that’s the max. amount of time that they can stay per the Fair Credit Reporting Act, so if these debts are getting close to 7 years, just sit back and let them fall off naturally.
You may be able to negotiate the complete removal of non credit card debts like defaulted cell, medical, utility bills etc. with a Pay for Delete agreement. This is a written agreement where you get a signed agreement from the debt collector (PRIOR to making any payment) where they offer to remove the negative items from your credit files after an agreed-to amount is paid. They will NOT want to do this….all they want is your money and their commission and they could not care less about your credit rating….Still, you have something they want (money) and that puts you in a position to negotiate on this issue. Example letter:
I am willing to resolve this issue if your firm sends me a written agreement that you will remove all negative notations from my credit report after the agreed-to amount is paid to you. Upon receipt of this letter I will mail you a USPS money order for this amount.
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Again, they are not going to want to do this…if they simply refuse…then go for a “Paid/settled” in full notation….If they refuse to remove the item from your credit report, then be sure to get the lowest, rock bottom settlement you can get…like 25%….Remember, get all terms IN WRITING PRIOR to paying….not after. Never give debt collectors your checking account numbers for payment.
August 7th, 2009 at 7:34 pm
Ethel
having a good credit score is sooo hard these days. i dont even know how people do it. so greeneye, i found this site, and they really helped me out with everything. they put me on a good plan towards increasing my credit score over a period time and fixed up any problems.
August 8th, 2009 at 6:04 am
Arthur
I have been to “many” different credit repair sites on the web. Some were pretty good and some were pretty bad. I refuse to use a website that requires a fee to get their credit repair info when there is great free sites on the web.. I’m listing the best site that I’ve ever been to.
It is a “free” do it yourself credit repair site. I have learned so much by reading and asking questions on that site. And, I have seen “significant” improvement on my credit reports after learning my rights and using them.Don’t pay for information that you can find for free.
August 10th, 2009 at 6:36 pm
Gertrude
Ok I have a very simple solution for you I just got this book and it is the most ingenious thing I have ever heard. You can remove things that belong to you. I just did it so I could get a house. Google credit repair bible!! My lender just gave it to me but I think you might have to buy it. It is all legal though, a little bit of a pain but it was totally worth it!!!
August 11th, 2009 at 4:50 pm
Benjamin
Hello,
I live in the US and i really have never seen goodness shown to me this
much in my life as i am a struggling mum with three kids and i have been going
through really rough times in my life and my name is Helen
Peters and in all this hard times, a worse incident occured in my life as i
lost my job which was my only means of survival and things became really bad as
i had bills to pay and my last son suffered a knee injury incurred when he fell
from a tree house and the doctors informed me that he needed a surgical
operation for his knee so he could walk again and at this point, life was
useless to me as i have no family and no one to run to and each night, i will
sit down and cry till the break of dun until one day, i read an advert on yahoo
answers of man that stated that he could help people in my shoes with loans and
in my desperate situation, i had no choice but i had to try and so shocking and
suprising, it was like an impossibility becoming a reality, i got a loan of
$75,000 USD even with my bad credit within 48 hours and my sons surgery was done
and thank GOD it was successful and now, i am okay and living in comfort with my
kids and i said to my self, i have never ever seen this kind of wonder in life
and i decided i will tell it to the whole wild world and i need every one to
thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family
even when all hope had been lost and gone and i will say to every one, no matter
how dark and sinful the world is today, there are still GOD fearing and reliable
people on earth and if you are in my former situation or require a loan
legitimately, i will advice you contact this loan lender and you can reach him
via and i want you all to pray for this man for me.
August 14th, 2009 at 10:58 am
Darlene
There are lots of things to consider with the question and info you posed. You likely need a credit repair company that charges you only 1 time instead of every month. The same company can likely help you find a debt settlement company to get out of debt also.