What do you think about credit repair agencies?

Question

what's your experience with this kind of service, what do you know about it?

Answer 1

I quote from the 2007 edition of the Consumer Action Handbook "There are a lot of companies out there advertising that they can erase bad credit for a hefty fee. Don't believe them".

Also, a good resource is...

http://www.safelinked.info/jump.php?link...

All the best to you.

Answer 2

Scams.  The only way to repair your credit is to pay it.  

Answer 3

One of the biggest consumer complaints is with credit repair companies.  I have them visit my office occasionally trying to get referrals.  I just send them on their way.

You can dispute any inaccurate information with the 3 credit bureaus.  They all have an on line dispute procedure.  Just gather your records and follow the directions.  

If the creditor verifies the debt, then ask the credit bureaus to provide a written invoice showing you owe.  Many times a collection agency cannot produce it, and then they have to remove the item.

It take s a little effort, but its better than paying 2000 to someone to write a few letters and follow up on them.

Answer 4

It is a waste of time and money.  No one can repair your credit except you.

If there are inaccurate items, contest them and get them removed.  If you have debts, pay them.

That's it.

That is the secret to cleaning up your credit.