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Are there any real credit repair companies?

I have really bad credit alone with filing a chapter 7 and a chapter 13 bankruptcy. How can I clear my credit up. And are these so called online credit repair companies legitimate when they say they can reapair your credit in 90 to 118 days? It so, do anyone know of a website that I can go to for credit repair help? Or would I have to hire a antorney to help me clear up my bad credit? I am not talking about consolidation. I am talking about credit repair. Help!!! So, what you guys are saying is that.I can't get rid of all the bad cedit mistakes that i made in the pass? Or can I? I was informed that I could repair my own bad credit. Can anybody tell me or me how I could repair my credit myself legally.

Public Comments

  1. I heard it could take up to two years to do it legally, so it would surprise me, I'm sorry to say. I'd say asking an attorney would be the safest bet. I could be mistaken though, so good luck with finding anything!
  2. No - there are no "real" credit repair companies. They promise what they can't deliver: Erasing accurate negative information from your file. Rule one of credit repair is that if you have accurate negative information on your file -- such as legitimate unpaid debts and bankruptcies -- there is no legal way to remove it or mitigate its impact on your credit rating. Time is the only way out. Almost everything has a time limit, usually about 7 years, and also, the older the negative information, the less weight it is given by lenders. The only other thing you can do - while waiting - is to check your credit report with the credit reporting agencies (transunion, equifax, and experion) to make sure that everything on your credit report is accurate (if there are innacurate negative items, you can legally dispute those.) Remember, stay away from credit repair agencies, they'll only cost you more money in the end.
  3. If you really want to repair your credit as badly as you say you do, then the first step is to avoid credit repair services. They don't do anything anymore special than you can do on your own. The first thing that you need to know that knowledge is power. In order to fix your credit, you should know how your credit is scored and how it affects you 1. Payment history- 35% 2. Total debt owed to avialable credit ratio-30% 3. Length of time establishing credit-15% 4. Types of credit established-10% 5. Inquiries and New accounts-10% With that said, there's 2 things when it comes to bad debts and collection items that you should be aware of, the FCRA and statute of limitations. These are 2 diffferent things. The FCRA(Fair Credit Reporting Act) is the timeframe that negative items can remain on your report which is 7½ years from the date it first went deliquent. For example if a debt first became delinquent July 10, 2000 the legal limit that the debt can be reported would be January 10, 2008. Also, there is a seperate statute of limitations that varies by state on how long a debt can be legally enforced. This is different from the FCRA, because depending on which state you live in the statute may or may not expire before the FCRA. here's a link for that http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml Another important thing to know is that negative items that are less than 2 years old are hurting your score the most. It's possible that you can settle much older debts for far less in exchange for getting them removed from your report altogether. This is called a "pay to delete". I posted several links explaining this in detail http://www.creditinfocenter.com/debt/settle_debts.shtml http://www.creditinfocenter.com/debt/neg_rating_after_settle.shtml http://www.creditinfocenter.com/debt/CanCreditorSue4SettlementDifferences.shtml http://www.creditinfocenter.com/debt/ActualDebtSuccesses.shtml http://www.creditinfocenter.com/debt/debt-negotiation.php There's sites like the one I posted along with a few more than can help you repair your credit cheaper and easier than you would if you paid out of the pocket.
* Some answers may have been provided by Yahoo! Answers.