Credit repair?

Question

I don't know much about this but is it true that you can temporarily make your credit history look better? I know that I read that somewhere but don't remember the details. PLEASE HELP!!!

Answer 1

Yes, there is a whole industry devoted to credit repair. I hadn't heard that it is only temporary. I know of a non-profit company that does credit repair, give you an online login and passcode so you can follow along online and watch as items are deleted from your report, yearlong program with a moneyback guarantee. I had heard of 1 person raising their score 90 points in 90 days.
Check out the credit repair link at:

Answer 2

There are several types of credit repair, one can obtain a copy of their credit report and then take steps to remove everything that is falsely reported. Or many can be tricked into credit counseling which has a horrible side affect of you are planning on buying or refinancing a home in the near future. Most lenders will look at CCC consumer credit counseling as a negative. This means they will need to see 1 year of post program credit habits before lending you money. They dont advertise this and should. I have had clients become enraged by thinking they were doing the right thing in enrolling in a CCC program, end up being turned down for a loan. They would have been approved and not required a year wait time had they came to me first and just removed the erroneously reported issues, and worked out a plan with their unsecured creditors. There is also a thing lenders can try that is a rapid rescore that sometimes helps. It is better to clean up a report, and get approved for a lower rate loan. cleaning up a report just to get funded but be locked in at a bad credit interest rate just doesnt make sense. Any good lender will advise you the same thing.

Answer 3

The fastest way to get ride of all of your debt is to file for bankruptcy. But this will take you 10 years or more to get back on track. But a good way to repair your credit is to find someone who would like to report you to the credit bruea. Places like Greendot have real credit, and your bank will problably give you something. Also if you are a college student there are many banks that are associated with the university that is the closets to them and they will give you tution or student loans and this will also be a easy way to improve your credit.