has anybody ever used a credit repair company?

Question

In particular a company called credit for all or any other repair company.They say they can remove bad credit from your file mainly because most of the finance companys dont keep great records thus unable to provide proof so you can get items removed.

Answer 1

I HAVE. And I would say that they CAN be worth using in the right circumstances. When I started using a credit repair firm, my credit scores were all in the low to mid 500's. After about 6 months of their service, I improved my TransUnion and Equifax scores almost 100 points (Now in the 650 - 670 range). The MAJOR DRAWBACK was that Experian refused to take any of their disputes and kept sending me letters explaining how I could send such letters on my own. After 4 of these letters I wised up and started the process on my own.

So I think for MOST people, you will likely not see enough benefit to justify the cost (I paid about $260 in all). I can say, that since using them I have gone from a point where no one was granting me any credit to respectable credit worthiness. My experian scores still fall under 600 so there is always a 33% chance I'll get denied credit.

Final Advice: If you are in a situation in which all 3 of your scores fall under 570 and you are within a year from a major credit purchase (Home, Car, etc.) then give the firms a try for 6 months. Particularly if you feel you don't have the time and patience to do this on your own. If your TU and EQ scores are lower than your EX score - than even better! If you do not fall into the above situation - Hold on to your money. Keep in mind, with persistance you can always do what these firms do on your own.

Answer 2

What they do is they dispute every item in your credit report. This has the effect of temporarily making your credit report look a lot better because the companies have to remove it while it is in dispute. But then the companies come back with proof that their reporting was correct and it goes right back onto your credit report (and the credit repair company already has your money).

Think about it this way--have you ever forgotten about someone who owes you money? No. And neither have financial institutions--and they keep fantastic records, regardless of what a company that's trying to sell you something says.

You're better off putting the money you'd pay the credit repair company towards the debt that you owe.

Answer 3

The rest of these guys are pretty much correct. Unless the remark has some sort of fallacy or inconsistency, it won't be removed. The credit repair companies bet on the hope they will mess up and remove the remark. Like the one guy said, when someone owes you money, they remember....these creditors keep records, whether they are 100% accurate is another story..Anyhow, if you are falling behind, maybe just settle your debt..Don't waste your money on credit repair. If your credit isnt too bad and you don't want to make it worse...manage your money and pay off your debt as best you can.

Answer 4

No one can remove information unless you can prove it is false and then you almost have to be able to walk on water and turn water into wine to get it off. “OR” You hire someone to force the credit bureaus to go back to each item and have it re-verified. The system allows credit bureaus to accept anything as true whether it is or not but when it comes time for you to prove it is wrong you have to jump through the hoops. There is a "Law firm" That specializes in doing this. I would use them because believe me, the credit bureaus pay attention to something from an attorney while they can usually ignore stuff from most of these agencies. The firm that I know, and have referred many clients to, is Bradley Ross Law, Bismarck, North Dakota 701-355-0123. And, “no”, I have no affiliation with or interest in this firm. I hope this helps.

Answer 5

These companies can get derogatory items removed from your credit reports only if those items are inaccurate.

Have you examined your credit reports? If not, that's your first step. You can get your reports free at annualcreditreport.com. (Don't pay for them or sign up for a service.)

If you know that there are inaccurate items on your reports, then a credit repair company may be able to help remove them efficiently, but you can also do it on your own.

If there are derogatory items that are accurate, then no one can help. You just have to wait for them to roll off after seven years.

Answer 6

You need to check out this video on how to increase your credit score by using a 100% legal loophole. Here is the video URL: http://www.creditscoresecret.org

I was able to get to 595 from 489 in just one day and from 489 to 748 in just a few week; that's pretty fast in my book. Good luck!

Answer 7

You have to be wary of the claims that many companies make. I haven't personally used them, but my sister went with the below company and seemed to be pleased with the results

Answer 8

they can't and it'll cost you money you probably don't have to begin with...you can 'repair' your own credit by transferring balances or negotiating with your credit card companies for a payment schedule.. it takes work but don't fall into that garbage they're crooks!

Answer 9

nope

Answer 10

BS. Don't fall for it.