Credit wise I am in Trouble but a source told me that for $400 someone can clean my credit?

Question

Is this is sign of fraud or there are agencies that do this kind of work?

Answer 1

Contrary to what most of these posters are saying, there are a few "true" companies that can help clean up your credit and then there are others that simply boost your score (legally).

The clean up ones do all the work that you could do yourself for free. There is nothing illegal about this. It's just like having carpet installed. I can pay for someone to do it or save the money and do it myself. What they normally will do is dispute every negative on your report in hopes that it gets deleted. They have to delete something if they can't verify it. And sometimes they just delete it out of laziness or accident. Either way you win. But you could do this yourself. As with every company in america, they could easily take your 400 and never do anything for you. That would be fraud. So make sure you go with a reputable company.

The new thing is to "buy" your credit score. And it's completely legal (so far...the feds are looking into it to make it illegal). What happens is someone with a great credit score who is looking to make a quick buck goes to a company that will arrange for a good credit guy to add the bad credit guys name to their mortgage or other debt. This gives your score a permanent boost even after the good credit guy removes your name.

Answer 2

Just send me the $400. I'll take pictures of all the fun I have with your money and email them to you. This will be a lot more than you will get spending the $400 on credit cleanup.

Without paying someone $400 you can dispute any inaccurate information. You can also bring the accounts current and start building a solid, positive payment history.

Answer 3

There are no "loopholes" or laws that credit repair companies can use to get correct information off your credit report.

No credit repair company can do anything you can't do for yourself. It is impossible for a third party to make changes in your file if the facts have been correctly reported. There are individuals and companies that claim they can fix a bad credit file. This is not the case. If a file includes accurate, yet negative information about your credit history, this information cannot be changed. Information will only be changed when your file contains an inaccuracy.

Answer 4

Don't pay it. If you have $400, put it towards paying off your debt. It takes 7 years to get rid of bad credit in your name. Just pay down the bills and keep going, don't get any new cards and try to minimize putting any more debt into your life right now. You can contact a financial adviser for help but don't ever pay someone to "clean" your credit, it is not the right way to do it and is usually fraudulent or illegal.

Good luck to you.

Answer 5

The only way to clean up legitimate bad remarks on your credit history is by relying on the mistakes of the credit reporting agencies. The way to do it is to write them a letter requestion to remove the bad remarks. They have 30 days to reply to you, which they normally do and say that you cannot remove the item. If they do not reply within 30 days then they have to remove it regardless it is legit or not. And this is what the company is probably going to do for you- write letter until the agency fails to respond within the time. there is no other way to clean your history.

Answer 6

The only thing which will be cleaned for $400 is your wallet and/or checking account. Your credit file will remain the same as it is now.

Answer 7

Somebody can charge you $.15 to clean your credit,but in reality it's going to take seven years to do it no matter what you pay.

Answer 8

Call the bbb and have this place checked out before you go handing them your money