Has anyone used a credit correction service? Are they a rip off?

Answer 1

In short yes they are a rip-off. Everything that a "credit correction" service can do, you can do yourself. Like dispute wrong things on your credit report ...etc etc. I'd do some homework here on Yahoo and other places and learn what you can do to repair your credit. In short, it takes "TIME" and it's nothing anyone can do "legally" overnight. Unfortunately even those CCCS (Consumer credit counseling services) will work with helping you get your debt down, this does NOT stop the creditors from slapping your credit report with negative points and it doesn't help your FICO in anyway, and in fact .. HURTS IT. The best kept secret in the world for people that are in over their heads to the point where they will NEVER dig themselves back out, is talking to a reliable Bankruptcy attorney. While .. yes.. a BK will ding your credit report, it is also a ONE TIME SHOT and then you can work yourself UP from there on out. Think long & hard before you sign a 5+ year contract with a counseling service ... in the end it could do you more harm than good... especially if your primary goal is get your credit score up so you can buy a home. (FHA will approve most individuals 2 years post-BK with a score over 620).

Answer 2

When you use credit correction or debt consolidation services You when be viewed as having filled Bankruptcy for next 7 -10 yrs by any mortgage issuer/bank etc.
Don't do it - visit daveramsey.com to learn more before you get bent over. you lose and banks win.
Many are RIP offs.

Answer 3

Credit correction agencies basically dispute negative items on your report, it's illegal to dispute correct information but that's what they do and you can do it yourself from home. Often, they get things removed and then later it is proven that they belonged there and they get put right back. There no quick fix to repairing credit. You may get rid of 1 or 2 things but for the most part, these places are what I call "legal scams".

There are dozens of legitimate ways to raise your credit score but it takes time
http://finance-girl.blogspot.com

Answer 4

OWWW(S)CH! would desire to occupy BoA and demand their $5 blood-sucking cost be rescinded. BoA(constrictor) might prob cave, supply OWS great exposure and momentum and that they'd start up a run from the banks to CU. this might particularly throw some hard-earned worry into the international Plutocratic Elite, plus particularly help We the human beings interior the class conflict.

Answer 5

Do not go through debt relief or consolidation companies. Most of them are rip-off companies. Here is some advice to do this on your own.

First thing of course would be to cut up the credit cards and make a commitment to never charge again. Then follow the following plan.

Make a list all your debts by amount you owe from smallest to largest. Then begin by paying the "most" amount you can each month to the smallest debt with the idea of paying it off quick. Then, only pay the minimum payment on the larger debts. Continue doing this every month until you have the smallest one paid off. Everytime you pay off a debt, call the company and tell them to close the account ... that you paid off the debt and that you do not want to leave the account open. They will try to talk you into leaving the account open. Don't do this as it is too convenient and you will be tempted and will sink into debt again. You then start paying the most you can on the next smallest debt in line and go on from there until you have each paid off. Every time you get any extra money, whether it be $5, $10 or more, apply it against your debt even if you have already sent in a payment. You can send in payments more than once a month. Don't go out to eat. It's "beans and rice, rice and beans" as Dave Ramsey always says which just means (cheap meals that you can fix at home) until you get your debts in order. LOL Also do things to make money like garage sales, sell on eBay, get a second job, anything to help you get money to apply toward that debt. It's not about obtaining the best credit score, it's about eliminating the debt.

You can get more help on how to accomplish this by reading and listening to Dave Ramsey. He has a talk show which you can hear on line through his archives, or live on line or by radio by entering your zip code and find out what time of day his show airs. Plus there is a lot of reading material on his site to get you started. In addition, he has forums from his site to get helpful advice from other people who are in debt. Dave has been there (with debt) and knows what it is like and is now helping people to get out of it. There are people that have followed this method with over $100,000 in debt and have gotten it paid off without going through bankruptcy and without getting some debt help company to do it for them. Dave's website link is below.

I hope this information helps you and you get the relief you need. Best of wishes to you.

http://www.daveramsey.com

Answer 6

i used one called incharge debt solutions. Actually it helped me out a ton & worked really well, also its totally free. i guess it depends on your situation. i had about 7 or 8 grand in gredit card debt & they negotiated all the interest rates down to 10% from 22 - 24% and put all my payments into one. 83.00/month. good luck.