what do you do?
2007-03-26 14:30:29 · 6 answers · asked by banner_man08 1 in Business & Finance ➔ Credit
To repair bad credit means to enter the complex dispute process with the three credit reporting agencies. In theory, the process is simple. You order your report, find out what is wrong, look at all the negative information, fill out a form or write a letter and the credit reporting agencies investigate your claims. In 30 or so days you should receive a letter from them stating that your information has been removed.
That is a good fantasy. In reality, they don't make it simple on you. They make the process as difficult as possible because they don't really want you disputing their information. However, 8 out of 10 Americans have incorrect derogatory information on their credit reports. And once you study the Fair Credit Reporting Act (all 86 pages of it) you will know all 300+ laws governing how the credit reporting agencies are to conduct business. However, if you don't know how to apply those laws, they do you no good. You could even end up having positive information accidentally removed from your report.
Or you can hire a professional to do the work for you. It is spendy, but when you consider the amount of money you will save in the long run, it is worth it.
Or you can listen to the uneducated scare tactics of those who think credit repair is a scam and you can sit back and do nothing out of fear.
If you have any further questions regarding this issue, you may contact me at nebula7693@yahoo.com
2007-03-26 16:45:13 · answer #1 · answered by nebula7693 4 · 0⤊ 0⤋
Run a credit report. Contact each company on there. Make arrangements to pay. You might find one or more that are not yours, make sure to take care of those. They can be removed and depending on the amount help your credit a little or a lot. When all is done with that keep all payments on credit cards, cars, houses etc...up to date. In 6 months from the date of everything being paid off you will be surprised to see a great credit score.
2007-03-26 14:40:16 · answer #2 · answered by misstigeress 4 · 0⤊ 0⤋
Most of the credit repair companies are scam, so beware.
Most of these services have the same format of advertising: “Are you in debt problems? By using our services, your bad credit will be erased quickly. 100% guaranteed.” Using this service will definitely clear bankruptcies, judgments and bad loans from your credit record forever.
Once people think that their debts have become unmanageable, they are open to trusting people who promise them a quick fix. People do not give a second thought while taking decisions of this gravity. Credit repair companies assure plenty of things, so as to get plenty of clients. People don’t have to utilize every service available in the market. They simply have to consult an expert on the issue to comprehend and see the problem clearly.
2007-03-27 02:44:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
There are actually companies which provide this kind of service. They'll call your debtors who you had bad history with and then try to figure out a way to settle, either by consolidating your bill or paying off your debtors (if you can). Then after it's settled, your credit will be fixed, but you might still have debts left with this company though.
2007-03-26 14:36:49 · answer #4 · answered by Purpleclamshell 2 · 0⤊ 0⤋
Listen my friend,
Everything you need to repair your credit is at....
http://www.thecreditrepairmanual.com
2007-03-28 03:09:48 · answer #5 · answered by Anonymous · 0⤊ 0⤋
go to Lexington Law firm There helping me
2007-03-26 16:45:25 · answer #6 · answered by K. W. 1 · 0⤊ 0⤋