2007-06-24 09:26:53 · 4 answers · asked by wildhorsesrunfree 2 in Business & Finance ➔ Credit
If what you are referring to are companies that will dispute questionable items on your credit reports for you, than yes, it is legal and it does work. It is true that this is something that you could do for yourself, but many companies offer low monthly payments so it is just simpler to go with them. Items must be disputed separately with all three major credit bureaus, Experian, Trans Union, and Equifax, because the three do not work together or share information. It is important to never pay any such company in advance. Federal Law (Credit Repair Organizations Act) prohibits taking advance payment for these services. Adam Fullman
2007-06-24 11:29:37 · answer #1 · answered by adamfullman 1 · 0⤊ 0⤋
They are legal. They don't do anything you can;t do for yourself, if you knew about it. They negotiate, presumably, which you can do also. Some don;t do anything. Occasionally, they can consolidate at a lower interest rate. You can also. Becoming knowledgeable in this area can pay huge dividends.
2007-06-24 16:57:40 · answer #2 · answered by Richard F 7 · 0⤊ 0⤋
Some are and some aren't. Just be sure it is you calling them not them making the call to you. Give no information to anyone who calls you saying they are, your bank, a business, a government official, the police, I could go on and on.
2007-06-24 16:34:52 · answer #3 · answered by redhighheelsneakers_ 3 · 0⤊ 0⤋
They're legal, but it does get you deeper in debt.
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2007-06-24 16:34:11 · answer #4 · answered by Kacky 7 · 0⤊ 0⤋