Are theese credit repair companies worth the money?
Public Comments
- No.. they just take your money...
- I've heard they are scammers. They only way to "repair" your credit is with time.
- First they cost you money you could be putting against your bills. The "help" they give you, with dislipline, you can do yourself. Unless you really need to get your payments reduced, (which they will not guarentee they can do) you would be better off doing it all yourself!
- There are lots of credit repair companies out there. There are two types, one that works for you and one that works for the creditors. The ones that work for the creditors (they call themselves non-profit companies) negotiate your credit card interest rates while taking a monthly fee from you and make your credit worse. The others dispute your derogatory information with the bureaus as per the "Fair Credit Reporting Act", and write "Validation Letters" to get this derogatory information deleted off your credit which is totally legal. You could do this yourself..... if you have the time. Example: You could represent yourself in court or you could hire a lawyer to represent you.
- I would prefer to spend a little money to acquire the knowledge to repair my credit myself than pay hefty fees to a repair company. It would be much cheaper with just as good if not better result. http://www.goodcreditsecret.com
- not really I've found some good information here too... http://debt.123thebest.info/credit_card.html Good Luck.
* Some answers may have been provided by Yahoo! Answers.