can any company SUPPOSEDLY repair your credit score for a fee?

Question

have you ever done it?

Answer 1

I'm not sure why you would want to pay a fee. You can repair your own credit by going to the reporting agency websites and reveiwing and refuting info on your report. Also getting a credit card even the ones you have to pay participation fees for will boost your score. I file bankruptcy and had a score of 424 that I brought up to a 600 in 1yr, and bought a new home. Try experian.com for info on your score and it will give you a forum for disputes. You need to do this on all 3 major agencies. Transunion, Experian, and Equifax.

Answer 2

Short Answer: Yes!

Long Answer w/ Explanation:
After trying to repair my credit myself and feeling terrible everytime I got off the phone w/ the companies where the debt was, the collection agency or the credit bureaus I gave up. I'm not kidding, my day would be shot from all the emotional stress of dealing with those people.

I went with this company called Second Chance Financial. It cost me about $1000 (my credit reports were really jacked up and my median credit score was like 580). I had filed BK a few years earlier and the whole experience was so bad that I didn't do anything w/ my credit for 2 full years. Anyway, they did a great job at what I was just too emotionally attached to do. My median score jumped 80 pts in about 6 months.

My median score is now $670. Not the best yet but since I did qualify for a home loan about 4 months ago, when it starts reporting I am betting that my score goes up even more.

Here is what they do. They will identify any mistakes and challenge any debts that should be removed on your behalf. You get all the letters and copies of updated credit reports from the bureaus and forward them to 2nd Chance so they will know what to challenge next. I kept copies for myself too.

Of course you can do all the challenging and repair work yourself for free. They aren't doing anything that you can't do yourself but most of us could also make our own fries and hamburgers but we go out for it instead. Less hassle and less headache.

Here's their info if you are interested: Second Chance Financial,
poc: Karen Molina - cell phone number: 818-370-6905, all my stuff was done over the phone and through mail so I was hesitant at first but the payment plan made me a little less nervous about it. I still wish I had started 6 months earlier when I had first thought about it.

Answer 3

Credit Score Explained
http://www.debt-loan-refinance-mortgage-credit.com/category/Credit-Score-Myths-Explained.html

Answer 4

I own a small personal Credit Repair Business, I do not dispute items on credit report, but validate. I advocate paying off debt by settlement, negotiation and sometimes making payments. I have a class "Understanding Credit" and "Money Management". There are a few of us that do it right.
Repairs and Maintaining your credit is behavior change and hopefully when my clients leave, they have the tools and education to maintain their on scores. Margaret CDS

Answer 5

No, a company cannot REPAIR your credit. They can suggest things for you to do to improve your credit rating. It is much better to do it yourself, but you need patience and commitment to do so. Look through all your credit reports and contest and try to have these error removed. That is everyone's biggest hurdle. Good luck, but this is definitely something you can do yourself. It will be cheaper and less of a hassle handling it yourself.

Answer 6

No!

The only quick "repair" to your credit record is by removing erroneous negative information. If the negative information is correct, it stays. Anyone who claims to be able to remove valid negative information from your credit record is a scam artist at best.

You can challenge incorrect information in your credit record yourself; there's NO need to pay a third party to do that for you. Most credit records DO have errors in them so it's certainly worth the effort to get a copy and challenge any erroneous entries.

Answer 7

Do it yourself. All they can do is dispute all the bad stuff and hope something comes off so you arehappy with them.

Go to www.annualcreditreport.com and order your free reports, then proceed to dispute every single late pay, collection, etc.

They'll also probably tlel you to lower your c-card balances to under 35%, pay everything on time from now on, and dont close any of your older accts.

Answer 8

nope. fix it yourself by paying off the debts. it may take some time but you'll end up with a higher credit score.