Does enyone know where i can find a credit rebuiling company or bank my credit is poor ?

Question

I'm trying to repair and rebuild my credit. I'm looking for a company that may offer a higher interest rate and a low balance. any ideas?

Answer 1

this is a credit repar company with a good reputation...www.creditpp.com

Answer 2

You don't need someone else to do this for you! The person who is most interested in repairing your credit is y-o-u.

You'll need good organization and some patience.

1 - If you haven't already get current copies of your credit reports from the 3 major bureaus (Equifax, Experian and Transunion)

2 - Take a photocopy of each and put the originals in a binder

3 - Get a highlighter and highlight any account that is negative (collections, written off, older than 7 yrs, etc...)

4 - Any inactive account that is older than 7 yrs should not be deleted from your report. Download a dispute letter from the credit bureaus website(s) and fill in the details

5 - For collection/overdue items, if they are greater than 7 yrs dispute them as well

6- If there are still valid debts, you need to contact the creditor and negotiate a 'pay for delete' in addition to a payment plan if you cannot pay in full. If they start hounding you send them a 'cease and dessist' letter stating they may only contact you in writing.

7 - Do not apply for any credit while you are doing this or for the next year (ideally 2)

8 - If you currently have any credit card or loan balances, pay them off or at least pay them down to bring them current

9 - If you need a credit card, get a secured card from Capital One for $500 (or more if you can)....use it sparingly for like only $25-50 and pay in full and on time every other month or so to establish good re-payment history.

A little patience and 2-3 months, you'll be on your way.

Answer 3

Based on what you said in your question, I'm going to assume that you were referring to a credit card. There are some cards that are offered for people trying to rebuild credit, but in the end they're really not worth it because of the fees that are charged that absorb the available credit before the card is received in the mail. First Premier, Tribute, Salute, are all examples of these kinds of cards. Orchard Bank is the best company to try to get an unsecured card to rebuild credit.

Having firsthand knowledge from working in the credit card industry and using them myself, I would say that secured credit cards are the best option for many reasons.

1. They're the easiest to get because a deposit that's used as collateral is placed upfront. For example, if you deposit $200, then your limit is $200, and so on. There are some "unsecured" credit cards out there that offer low limits, but they charge outrageous fees before the card is even sent, at least with a secured card although you have to put money upfront, at some point later on, you get the deposit back.

2. There's no difference between the two. If you have bad credit, it very unlikely that you will even get approved for a credit card, let alone one with a high limit. With a secured card, you can "custom build" a high limit credit card. And one it's upgraded to a regular card, the leftover deposit could be used to start up an emergency fund.

3. The deposit gives you an incentive to take care of your credit. Since you would have to put money up, it's certain that in order to get it back, you would take care of it the best way possible, right? Well, a secured card teaches you how to use it the right way, since you have something at stake.

I posted several links to some secured cards that should help. In my personal experience, Bank of America offers the best overall secured card

I hope this helps, thanks for reading

Answer 4

Be careful of debt consolidation companies.  You're best bet is to pull your credit reports from www.annualcreditreport.com, get all of them current, and pay them off.  

Settling for less than you owe will help, but you'll also receive a negative mark for paying less than you owe.

Google Dave Ramsey and read his articles on debt consolidation.