What is a good credit repair organization?

Question

There are so many to choose from>

Answer 1

I used credit assistance network.


They did a good job, but took a long time.


My bad credit was from my ex and not my fault.

Answer 2

The above answer is correct. There are many companies that will promise to fix your credit, but they are all rip-offs. They charge large sums of money, and all they do is write form letters to credit reporting agencies disputing everything on the file. In many cases they do more damage than good, as they often dispute accounts that are in good standing as "inaccurate and obsolete", and if that creditor does not bother to respond to the dispute, the good account is removed, further damaging your credit. It is most often the negative account holders who will respond to the dispute, verifying the information as accurate, causing it to remain on file.
There is no such thing as a good credit repair organization. Anything they charge you to do, you can do for free!

Answer 3

Hello, Good answers. Your credit not "broken". Credit is really a simple a fact based historical record of your credit usage and payment history. If there are errors that is a different situation, and there is some "art" to understanding the best ways to try to correct any errors.
Also if there are outstanding bad accounts, you may want to consider paying them off. Again there are some things to consider before going that route.

Answer 4

you would be better off trying to negotiate with your creditors yourself. there really is no quick way to repair your credit.

Answer 5

Who is a reputable repair organisation?

This is important, there are NONE. They will all take your money, and do very little.

Answer 6

Pay the bill on time, every time.
Pay the bill on time, every time.
Pay the bill on time, every time.

Answer 7

That's a very easy question and I have a very simple answer ---- NONE! If you want, you can hand me your money and I will do what credit counselors do --- NOTHING!

Based on your statement, I'm going to assume you have some bad debt in your history. If so, read on...

HOW BILL COLLECTORS WORK
When you have bad debt that goes into collections (after being late/unpaid for 180 days), these debts are sold off to bill collectors (essentially, scum bags run by the mafia). The original bank or creditor is no longer collecting it. Instead, it gets auctioned off to scum bags who buy it for pennies on the dollar. What they do is they turn around and try to scam you for the full value of the original debt PLUS interest and penalties, which can almost double or triple the original balance.

DON'T NEGOTIATE WITH TERRORISTS OR SCUM BAGS
Whatever you do, don't negotiate with so called "non-profit" credit counseling agencies! They're in bed with debt collectors, and are run by scum bags and mafia! I'm not kidding. I'm dead serious. They're run by the same people as the debt collectors!!! And they charge ridiculous fees, a certain percentage of your balance. Non-profit my fat buttocks!

THE (EMPTY) IMPLICATION OF LAWSUITS
It's important to be aware that debt collectors often hire lawyers to write letters on their stationary to make debt collection notices sound more "official" and use the empty threat or implication of a lawsuit to scare you into paying them what I consider ridiculous financial rape. To understand better, read more below. Regardless, the law requires them to identify themselves as a "debt collector". So if you've received any letters from so-called lawyers, go back and re-read the letter and you'll see that somewhere in small print, it'll identify the letter as an attempt to collect debt! NO WORRIES! Treat these bastards as you would any other debt collector and ignore the legal stationary. In most cases, lawsuits are rare and never happen. The costs of litigation are too high to sue for every collection case.

It's funny, too. If you have one of these so-called letters from lawyers, notice that they don't explicitly say they're going to sue you. That's because by law, they can't say they're going to sue you unless they actually plan on following through! So, all in all, it's just a ruse to scare you.

So unless you've got lots of assets, don't worry! Sleep well, eat will, and live long and prosper!

TELL THE SCUM BAGS TO SUCK IT!
Send a cease-and-decist letter to the bill collectors, which basically tells them to shove it. This is mentioned in section 805c of the "THE FAIR DEBT COLLECTION PRACTICES ACT".

Here's an excerpt:


----------------- except from FDCACT Section 805c -----------------

"(c) CEASING COMMUNICATION. If a consumer notifies a debt collector in writing that the consumer refuses to pay a debt or that the consumer wishes the debt collector to cease further communication with the consumer, the debt collector shall not communicate further with the consumer with respect to such debt, except --

(1) to advise the consumer that the debt collector's further efforts are being terminated;

(2) to notify the consumer that the debt collector or creditor may invoke specified remedies which are ordinarily invoked by such debt collector or creditor; or

(3) where applicable, to notify the consumer that the debt collector or creditor intends to invoke a specified remedy.

If such notice from the consumer is made by mail, notification shall be complete upon receipt."

----------------- except from FDCACT Section 805c -----------------


By law, the debt collect must return the debt as unpaid/uncollected to the original bank/creditor and destroy your records, or they can take legal procedings against you. They are allowed to contact you in writing ONE LAST TIME to inform you of their actions (ie. if they are suing you, if they're returning the debt to the collector, if they're going to run off and cry to their mommy, etc.). Unless you've got valuable assets, the most they'll do is probably terminate the collection.

If you don't know how to write a cease-and-decist letter, there's plenty of websites that will provide templates for cease-and-decist letters.

NOTE: This does NOT apply to the original creditor, only debt collectors. Legally, you will still owe the original creditor!

REMOVING THE NEGATIVE ENTRIES
After a little over 1 month of sending the cease-and-decist letter, contact each credit bureau where you have these negative entries and request to have these debts verified/validated. The credit bureau will then contact the collector and the collector will be unable to locate your records (per having destroyed your records after the cease-and-decist letter). After 30 days, if the debt collector cannot prove you owe them this balance, the credit bureau will automatically remove that entry.

NOTE: Only negative entries added by debt collectors (who have returned your account to the original creditor) can be removed in this method. You will still owe the original creditor.

PAYING OFF THE ORIGINAL CREDITOR
Once the entry has been removed, contact the original bank/creditor IN WRITING and arrange to make FULL payments in return for a "paid as agreed" entry on your credit report, OR simply removing the account from your credit report altogether. Make sure you get this agreement from them in writing before sending even a dime to them!

THAT'S TOO MUCH WORK, I JUST WANT TO PAY IT OFF
If you don't want to deal with all the steps above, simply contact the creditor/collector IN WRITING and get them to agree to mark the entry as "paid as agreed" or remove the negative entry from your report in return for full or settled payment. Make sure you get this in writing!

CREDIT REPORTING AND THE 7 YEAR CLOCK
As for your credit, it takes 7 years from the date the account went into collections to fall off your credit report. Don't make any payments or disputes or requests to verify/validate a debt unless you intend to pay it off! You could easily screw yourself over!!! If you make a partial payment or unsuccessfully dispute or verify/validate a debt, it'll reset the 7 year clock.

I'M A LITTLE BASTARD AND REFUSE TO PAY
If you're a little bastard and simple don't want to pay, just wait until the statutes of limitation pass and then you're scott free and they can no longer collect a dime from you. Of course, there's your guilty conscience and the ghost of Christmas past that will haunt you for life!

Also, if you choose to be a bastard and you own any valuable property or have any large amounts of cash stashed in a financial account (such as a house, an expensive car or boat, stock brokers, IRAs, savings, checkings, EXCEPT for 401k's and perhaps 403b's which are protected from creditors), there is a chance the creditor or debt collector could sue you. This really depends on the state where you opened the account.

For a list of statutes of limitation for debt, check out this website:

http://www.bankrate.com/brm/news/cc/20040116b2.asp

WHEN CREDITORS ATTACK (HARASSMENT)
As an additional tip, by law, debt collectors cannot threaten or harass you. This includes neighbors, friends, family, unwanted calls to your work place, and empty threats of lawsuits or arrests. If they threaten you with a lawsuit, they MUST follow through or else they've just violated your rights! If they do, they're violating your fair debt collection act rights and you can sue the MOFO's for violation of your rights! These are all highlighted under section 806 of the FDC Act.

To learn more about your rights under the "THE FAIR DEBT COLLECTION PRACTICES ACT", you can either read the FTC website below:

http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm

For a summary, visit this website:

http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm

Or check out the Wikipedia entry here:

http://en.wikipedia.org/wiki/Fair_Debt_Collection_Practices_Act

If a bastard debt collector is harassing you or violating any of your rights, file a complaint! Be sure to document every phone conversation, snail mail, or harassment you experience.

https://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU01

Here are my tips summarized:

*** Credit entries last 7 years (10 for bankruptcies).
*** Every state has its own statutes of limitation for debt that protect you from collection after so many years.
*** Don't negotiate with terrorists or scum bags (aka debt collectors or credit counseling agencies).
*** Send cease-and-decist letters to tell debt collectors to shove it!
*** Don't agree to anything unless it's in writing!
*** You have the money, therefore, YOU HAVE THE POWER! You are in control, so make sure creditors remove any negative entries on your credit file before sending them a single dime!
*** Don't pay any old debts unless you really intend to pay it off! Partial payments or debt validation/verification attempts will restart the 7 year clock, if not paid in full or completely removed from your file.
*** Don't let creditors harass you! Sue them for damages and violation of your rights. Put yourself in the driver seat and let you dictate the terms!
*** Keep written records of every transaction or discussion, and be sure to report any violations to the FTC.

CAN ANYONE TESTIFY TO THIS?
In my own personal experience, I owed over $30k in debt that I couldn't pay off due to being laid off during the dot-com bust. The collectors want over $60k after penalties and interest. I laugh in their face. I haven't paid a dime and I sleep very well at night. I only have 2 more years to go before I have a perfectly clean credit, and 1 more year to go before I'm off scott free (I live in Oregon --- the statutes are 6 years). I guess I took the bastardly approach! But whatever. I don't see the difference between being a bastard and filing for bankruptcy; they're both bastardly!!! Just that a bankruptcy will screw you over longer (10 years instead of 7). Doesn't take a genius to figure out which option is easier.

If you didn't get my subtle hints, I'll spell it out for you. The FDC Act clearly protects you and provisions you with certain unalienable rights. Although I don't out right advocate NOT paying, I do want to highlight that for the average American, between filing bankruptcy and being a bastard, it's much easier and makes more sense to just not pay. In other words, if you're not rich and can't make a settlement to pay off the account, you're probably better off just letting the debt die on its own. Some states, like North Carolina or New Hampshire, have a 3 year statute limit for written contracts. This means after 3 years, you don't owe them a dime except per your conscience.

And as a testiment, even with my bad debt still shadowing my credit, I just bought a new car for 14.9% APR through CitiFinancial. Not bad at all! And for those of you new to auto loans, 14.9% is actually very good for having bad credit. The best thing about this is that an auto loan is one of the absolute best ways to build/rebuild your credit.