Credit Repair Agencies...what do you think?
I am considering contacting a local agency. I have no credit card debt...its mainly old utility and medical bills holding me back. What is your experience or opinion on these companies?
Public Comments
- I don't have any reference for you immediately but I can say that I have seen them do wonders. Make sure they are reputable. Try checking them out in the Better Business Bureau and such.... Good luck to you!
- most are rip offs, be sure and check them out thoroughly before you chose one.
- I wouldn't do it. Just send small payments to the debtors that you are referring to. Don't involve and outside agency. That will be another binding contract you may not be able to fulfill. It will makes things worse. If you can, just pay something, anything on the bills.
- They are just loan company's hiding under credit repair names they say they will lower you payment or get you out of debt while all they do is get you a large loan to pay everybody off and get their commission. Watch the interest rate and years to pay off.
- How old are the utility and medical bills. It is my understanding that once paid in full, entries only stay on your record for 7 years. Did you pay them off. If not it would most likely be 7 years from when they were written off. If they have not been written off, you need to pay them off. A credit repair agency can not delete valid debts that you owe. 2ndly, from what use to be, I don't know if it still holds true, but gas cards use to be the easiest cards to get. Get your self a credit card, (if you don't have one) and establish some credit, Once you have a credit card, use it lightly, and make payments to show that you are responsible. Forget the credit repair agency. You would be wasting your money.
- You're better off contacting the utility companies & medical offices directly to work something out with them. Also, a good resource is... http://debt.123thebest.info/credit_card.html All the best to you.
* Some answers may have been provided by Yahoo! Answers.