Bad Credit Agency

would anyone suggest using these so called credit repair agencies?

Public Comments

1. The credit repair companies are the companies who plan out your debt and help you clearing out your debt easily by contacting you creditors, making settlements with them....all of this companies are having their websites and on their websites they have a form. Which you need to fill up and within a day a person would contact you for further details. You can refer to below mention site for you reference. http://www.ezconsolidation.com
2. If you are looking to repair your credit there are a lot of scammer out there who will just fire off a bunch of formula letters and not much else. I like Academy. In thier own wods: To provide needed credit representation at an affordable cost in order to help individuals and families rebuild a strong credit foundation upon which to build the best possible future. Academy prides itself in providing customers with a personal credit mentor to work on each account. This means attention to every detail on your credit report. Your experienced personal credit mentor is there to help assist the attorneys achieve a level of success that exceeds your expectations. Check out thier website for yourself. http://tinyurl.com/2qjpup
3. Some people are happy with the results, but some not only rip you off, but actually make your credit worse. Be careful. Credit repair companies charge large fees, which, if put toward debt repayment would improve your situation. The three main tactics that they use are: (1) sending letters to initiate disputes about errors on your report. You can do this for free. (2) sending letters to initiate disputes about things that are derogatory, but are not errors. Some creditors will not verify the debt and this gets deleted. Good. Now the bad news. You can get tagged as initiating frivolous disputes, impairing your ability to fight real errors in the future. You can end up unable to borrow because you won't have a credit score. A lender who requests a score will get a message back "Unable to process - too many lines in dispute". Try and borrow with no score. (3) They have you route your money for bill payment through them. No creditor will negotiate if you are current, so the creditors stop paying on your good bills so they go into default and then negotiates a settlement at less than face value. This saves you a few dollars now, but makes you look like a chronic deadbeat to all lenders in the future.
4. 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. Here's a link for the FCRA: http://creditinfocenter.com/creditreports/cr_time.shtml 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.
5. I quote from the 2007 edition of the Consumer Action Handbook, "If the information is accurate, only time, hard work and a personal debt repayment plan will improve your credit report. Credit repair companies advertise they can erase bad credit for a hefty fee. Don't believe it". You can find more info here: http://debt.123thebest.info/credit_card.html All the best to you.
6. check out http://ceditdebtrepair.info it helped me out.