Credit Repair

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Can anyone tell me how I can repair my credit without going through a credit repair service? How long does it usually take for one's credit to be repaired to a decent score? Thanks.

Best Answer

Contact each of the credit reporting agencies, get a copy of the credit report, then go over it carefully. You can dispute anything that you disagree with by calling the reporting agencies, which is all a credit repair agency would do anyway. It costs nothing to dispute, and you can dispute as often as you want. If the creditor does not reply back to the dispute within the timeframe allowed by law, the dispute is decided in your favor. The dispute process takes up to 30 days each time you dispute. Another thing you can do that may help is contact the creditors yourself; see if there is someone at the company who is willing to "forgive" a late payment or two, and have them contact the reporting agencies. Some collection agencies may agree to delete collections if you pay them, as part of a settlement agreement. It doesn't hurt to try, and it may result in a higher score. One thing to remember: the score will only improve over time, as you maintain a good history of paying on time the score will get higher, and if you have mistakes in the past, the older they get the less impact they have. Good luck - be patient.

Do companies offering credit repair for a continuing monthly payment actually work?

Best Answer

It depends on the company you use. I recommend United Credit Education Services at www.unitedcredited.com. they are a 501(3)(c) and charge a one time fee for a one year program. The neat think is you can track your progress as you go thru the process in a secure back office that they provide you access to when you enroll as a client. You can also talk with a live customer service rep during normal business hours. You always hear people say "Why pay someone else what you can do for free". I would bet that these people really don't have the best of credit nor are they going to help anyone. I have done this process for years and it is frustrating as will as takes a bit of knowledge to do it properly. Anyone can get deletions the first round of disputes, the true test lies in what there able to do the second, third, fourth and fifth round. Unfortunately their are a lot of scam credit repair company's out there. You just have to do your home work when picking the correct company.

What is the real skinny on Credit Repair. Seems it costs quite alot. Is it honest and worth it. Can someone shed some light on this for me. Can't I do it myself and save the dollars and where do I get the info to do it myself?

Best Answer

You have a chance to improve your credit rating and therefore brighten up your financial future by being patient, a conscious effort, and a personal debt repayment to improve your credit report. The most practical and effective way to truly improve credit is through a number of practical steps designed to help you not only improve your credit rating but also to maintain a decent credit rating once it has improved. No matter how bad your credit is, taking following steps will make it better. STEP 1: Dispute Inaccurate Information or Frauds in Your Credit Report STEP 2: Pay all of your bills on time STEP 3: Reduce the number of credit cards you carry STEP 4: Avoid bankruptcies, tax liens and collections STEP 5: Request for Lower Credit Limits STEP 6: Get a Small Loan or Credit Card with Co-Signer STEP 7: Get a Secured Credit Card STEP 8: Periodically Get a Copy of Your Credit Report Find complete explanation for each step at: http://www.howtoestablishgoodcredit.com/ Credit_Articles/index.php

does a debit card repair credit in the same way that a secured credit card does? if not, what's the best secured credit card out there (lowest cost, etc.)

Best Answer

A debit card does not appear on your credit report. A debit card is linked to your checking account and has a Visa or Mastercard logo so that you can buy things over the Internet, over the phone, or at a store without having to enter a pin number. Secured credit cards are sometimes just a scam, so be careful. The best way to build credit is to get a savings or CD secured loan through a bank.

Has anyone heard of "The Credit Bible" is this legitimate? Also on www.adviceontime.com Does anyone know or have experience with the credit repair program on that site? It sounds good, but wondering if it really works?

Best Answer

Yes. It has been a Best selling Credit Repair guide for many years. The Federal government's FTC website says "Credit Repair...Self Help May be best". the Credit Secrets Bible shows you how to fix your own credit for a fraction that the so called "pros" do. It is a good resource to rebuild and repair bad credit. They also have a money back guarantee. You can't beat that these days. You don't need to spend a lot to repair bad credit. If you learn how, you can do a better job yourself. After all, who cares more about your bad credit problems than you?