does credit repiar companys really work?

Answer 1

some... but you can do the same thing yourself.

get a credit report and dispute everything on there. they have 60 days (?) to prove what they put on your report or it gets removed. the idea is that companies will not do research and spend money proving what they put on your report.

good luck

Answer 2

No. They are a rip off.

Get a copy of the 2007 Consumer Action Handbook www.Consumer Action.gov and read it.

I quote "Credit repair companies advertise that they can erase bad credit for a hefty fee. Don't believe it".

Under the Credit Repair Organizations Act, credit repair companies can't require you to pay until they have completed the promised services. They must also give you a copy of the "Consumer Credit File Rights Under State and Federal Law" before you sign a contract. A contract that spells out your rights and obligations and three days to cancel without payment of fees.

Answer 3

No.....Most of time they end up hurting you credit by disputing outrageous amounts of times.

In reply to being an authorized user . It doesn't work because although you can use the card, you are not liable for the repayment of the debt. I'll give you an example......

A mother/father lets the under age son/daughter use the credit card, and are authorized users. Once they check their credit report when they are 18 yr, and find out "oh I have these credit cards on here, but no score?!!"

Well the answer to that is does not have any affect score...

Answer 4

they charge you a bunch of money to do what you can do on your own.we worked with one and now are in worse shape than we were.all we did was spend a bunch of money.you can get your credit reports and dispute and take care of the stuff yourself.all it cost is the registered letter return receipt fees thru post office.go to www.annualcreditreport.com.can get all 3 credit reports from that webaddress free of charge once a year.good luck and save the money credit repair companies cost and pay some of the bills with it instead.good luck.and if you need help or have any questions feel free to email me.its a long hard process and takes more than 30 or 60 days like these places promise.

Answer 5

From what I have read, most credit repair companies are a scam. Most take your money and leave you with little or nothing. Some encourage you to break the law. The ones that promise instant or fast results (results in months or less) are usually not on the up and up.


Do some reading on some personal finance websites.

Here is one link
http://origin.bankrate.com/brm/news/cc/20040315can.asp

Answer 6

I, too, had my doubts about credit repair companies. All of the companies that I found wanted large up front fees, did not tell me on their websites how they went about repairing credit, and all seemed a little shady.

Then I stumbled upon Lexington Law Firm (www.lexingtonlaw.com). Before I retained Lexington Law my credit was in the low 500's. Now after 2.5 months my credit is up over 600. They have deleted 6 items from the 3 credit reports in one diputing cycle.

Lexington Law goes after the credit bureaus on your behalf. They dispute the negative items on your reports for you and help educate you about your credit. Check out their website for more information and prices.

Now you do not have to hire a company to help you with your credit. You can dispute the items on your reports yourself. I guess it is just a matter on how "hands-on" you want to be with your credit repair.

Another thing you can try is to become an authorized user on someone else's credit card.

Excerpt from Lexington Law: There’s a fantastic technique to assist consumers that have a short credit history or whose score is low because of the lack of revolving credit limit. Becoming an authorized user, in other words, becoming a card holder on someone else’s positive credit card account will in turn allow that positive credit to report on your credit bureau report as well as the initial card holder account. For example, if you have an associate who has perfect credit with a credit card that is in perfect standing, and he/she calls the credit card company and adds you as an authorized user on the card, that positive credit limit and credit history should report on your credit bureau report.

So if you personally have zero credit history and your associate’s card was opened in 1996, you will automatically have ten years of positive credit history added to your credit bureau report. Please note that this method also requires caution on your side. While you’re not liable for the charges, or repaying the debt, if your associate fails to pay the card on time, or if he maxes out the card, this will negatively affect your credit score as well.

To positively influence your credit score, the account(s) you add must have excellent credit history, they must have very low balances (less than 20% of the credit limit), and, ideally, they should have a positive credit history of at least three years.

Answer 7

Yes credit repair companies really do work. I own a credit repair company that allows you to make payment options towards the success of watching your credit grow. email: [e-mail]

Answer 8

There is nothing they can do that you can not do yourself.If information in you file is accurate,no one can change it,but if there is inaccuracy in it and you can prove it,you will be able to have that removed easily all by yourself with out the help of any of the so called credit repair company.

Answer 9

No. They will take their money and you will end up in worse shape. The best thing to do is to try to clean upr your credit report yourself by disputing things, sending proof of things, and what not. In time and with lots of work and patience, you can rebuild your credit on your own & fix your credit on your own.