Anyone ever use a credit repair company?
Did you use creditrepairtoday.com or any other credit repair company? What was your experience? Was it worth it? we have filed b/k and want to raise our scores for a mortgage we have no debt now except for our car loans which are in good standing
Public Comments
- A friend did. You still have to settle your debts,plus pay them a fee for arranging a payment schedule.
- i also looked into it.....cost more than what it was worth
- Don't! In my opinion. I haven't used a credit repair company but know what they do. You can't open another credit card for 6 or 7 years.. & knowing some basic laws-- Credit Repair Companies are almost like the new Chapter 11 or Chapter 13--without calling it that and without a lawyer. (Chapter 11 and Chapter 13 are Bankrupcy Protection.) You can repair your credit by limiting your spending, cooking instead of eating out, driving only when necessary, buying goods only out of necessity. Bringing personal responsibility to yourself... maybe even getting a 2nd or 3rd job. After paying bills ontime for 6 months, you can climb out of debt and renegotiate your APR on your own terms. Once you're back on your feet, pay twice as much as necessary and defeat that debt on your own. Can you live without a credit card for more than 6 years? If you can(I can't because I travel and some companies REQUIRE credit card payments and don't accept cash,) then you might enjoy it. If you must need one(such as some places REQUIRE a credit card number to hold reservations) then just take personal responsibility into your own hands. One thing I would spend money on, however, is one of Susie Orman's books on investing and saving.
- credit repair never worked for me. i had theft identity and they could not fix my trw, they said call for police report. good luck
- Credit repair or credit counseling? credit repair works with you to fix errors on your report. Credit councling ruins your credit for years. email me personally I can help you choose what is right for you.
- You are your own credit repair company!! All these companies do is charge you money to tell you why you have bad credit and how to change it. Repairing your credit is a simple process, pay off outstanding balances, pay on time, get rid of debt... in 6 months with no debt, or little debt apply for a poor credit credit card... almost guaranteed approval, you could do that now for a small annual fee, some as low as 20$ with even low APR.... Within 6 months of no debt, and a good standing with your poor credit credit card, apply for the next credit card, spend 40$ on the card and pay it off, then cut it so you don't get the urge to use it, don't cancel it, just cut it. Then apply for a mortgage... sounds simple enough, and takes roughly 11 months :)
- Credit repair and credit counseling are two very different things and often confused. Credit repair works with in the laws to remove information from your credit report that is not 100% accurate. The law states that the information stated on your report must be 100% accurate at all times or it has be removed! Credit repair companies work to remove all information that is harmful that isnt 100% correct or that is no longer verifiable. I personally am part owner in a credit repair company. We have been able to increase some of our clients scores by 100+ points in as little as 45 days. Credit Counseling in my opinion is a joke and a mistake. I personally know several people that have signed up with companies to "save" money on interest etc etc. After paying just as much for 5 years and ruining their credit they were still in debt up to their ears!
- One answer was said that this person needs a credit card. Just a idea if it works. Go to Much Music.com. They have a credit that's like a phone card. Onces its at zero you can not use it anymore until you load it with more money. I just started it I think it is also a way to get a better credit rating. But do read the terms. It might also be only for Canada, but check it out any way Have a great day.
- No credit repair company can do anything you can't do for yourself. It is impossible for a third party to make changes in your file if the facts have been correctly reported. There are individuals and companies that claim they can fix a bad credit file. This is not the case. If a file includes accurate, yet negative information about your credit history, this information cannot be changed. Information will only be changed when your file contains an inaccuracy. The only way to rectify a poor credit rating is to adopt sound credit practices for a period of time.
- NO!! Not wast your money on them, u can do it yourself and save money.. All u need to do is call the company's up and see if u can settle or payment plan..
* Some answers may have been provided by Yahoo! Answers.