Have You Used Credit Repair Companies and Did They Work...?

Question

I'm trying to fix a few personal issues with my credit and short of robbing a bank I have no idea what to do! (The bank robbery thing is a small joke so please don't report me to anyone!) Have you ever used these companies and are they really worth the time and money you spend? Have you any horror stories to tell and if so please give it to me straight. Thanks!

Answer 1

No firm can remove accurate negative info from your credit files....so don't waste your time and money paying anyone to do this....What these firms basically do is to request validation for each negative item on your credit file and hope that the credit bureaus cannot validate the item, so they'd have to remove it per the Fair Credit Reporting Act.  This trick "may" help to remove negatives from your credit files. You don't have to pay anyone to do this. You can do this yourself.

Per the Fair Credit Reporting Act you have the right to request written validation of negative entries on your credit files. Per this law they must validate the item(s) within 30 days or remove them from your credit file. Mail a letter via certified mail with return receipt to all three credit bureaus (Equifax, TransUnion & Experian). Include a photocopy of your driver's license and social security card...If you don't include these, they may write back requesting them, which would slow the process down by several weeks. For each negative item, write a separate letter and simply include the phrase:

Per the Fair Credit Reporting Act, I am requesting written validation of this item.

Do this one at a time for each negative entry....DO NOT request validation for all items at one time.

There is NO guarantee that this will work....It may give some decent results. The worst that can happen is that all negative items come back verified.

Answer 2

Credit repair companies DO NOT work.

All they do, is remove any false info from your credit report.

They cannot remove any valid bad credit reports.

If your credit report has accurate info, but it is bad,

And you want help getting out of debt and paying up your credit cards.

Then you can contact a non profit credit counseling service.

They will help you negotiate with your creditors,

They can help lower interest rates, stop late fees and penalties from being added.

And work out a payment schedule, that you can actually afford.

They are your best bet, other than declaring bankruptcy.

Answer 3

There is no quick way and no magic you can do .You can contact and work out payment plans on your own,I,myself and several of my friends have tried C.C. repair companies they work but you may pull out your hair before you get satisfaction. check out the company you do decide to use with the B.B.B. before you turn over all your personal information. good luck and God bless

Answer 4

I am currently using one. They are a legal firm. They claim to remove negatives that are unfairly entered or wrongly entered. I will be waiting for the next 20 days. I tried removing myself and it worked ok but they dedicate their time in doing that. Do some research on them.

All the best.