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HomeCredit ForumYour Credit Score

Anyone ever try a credit repair expert?

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HarmisonPaul



Joined: 02 Jun 2008
HarmisonPaul's page
Posts: 1



163 Magic Points
Subject: Anyone ever try a credit repair expert?
 
 Posted on Mon Jun 02, 2008 3:10 pm  
I’m looking to pump up my credit score from 640-to 700 to get a better interest rate on my mortgage. I’ve heard opening new credit card accounts can help (some say it could hurt) the score but i doubt that would be enough. I surfed the internet and read about credit repair experts that could help. Has anyone tried these guys? Do they really help and if they do how much can they help. The agency i talked to there name was Lexington, but not sure if they can help as much as they say they can.
Thanks for the advice
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August



Joined: 09 Jan 2008
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Posts: 144



0 Magic Points
 
 Posted on Tue Jun 03, 2008 1:57 am  
I have heard of lexington, they will somehow get off all the junk that is on your report, from everything that I hear they are worth the few hundred dollars that they charge.
Do more research before you invest your money, but I have heard good things about them.
 
parkar



Joined: 03 Jun 2008
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Posts: 1



76 Magic Points
Subject: Re: Anyone ever try a credit repair expert?
 
 Posted on Tue Jun 03, 2008 1:22 pm  
Agree about the credit repair companies. It's not that hard tp build up your FICO. Over 1/3 of your score comes from payment history, and just under 1/3 comes from proportion of balance to available credit. So here is what you do. Pay all of your existing credit cards down to less than 20% balance, pay them off if possible. If you cannot pay them off then continue to make payments of them (not the minimum) and stay under that 20%. If you can pay them off, DO NOT CANCEL THEM, with the exception of department store credit cards or any other type of consumer credit card (Best Buy, Office Max, etc.). Now, let's say you have zero balance and 4 open cards. Use a different one every week to get something small that you would normally buy with cash, say a tank of gas. Pay each one off before the end of the billing cycle so as not to incur any interest charges. You are getting the benefit of the consistent payment history, with the benefit of low balance to available credit ratio, and it's not costing you any extra money to use those cards. Keep that up for a while and your FICO scores will be up there with the best, the right way.
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cbass1017



Joined: 01 Feb 2008
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Posts: 88
Location: PA


325 Magic Points
 
 Posted on Wed Jun 04, 2008 2:49 am  
I just don't understand why you would pay for somebody to repair your credit when you can do it for yourself very easily and for free. Atleast if it is Lexington Law Firm you are referring to they do have a satisfactory rating with the BBB. I would recommend doing some research first and seeing if you can't repair your own credit. The FTC website offers some valuble information about credit repair.

Best of luck
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Scott McKay
DiYCreditGuide.com
 
CMBV22

CMBV22

Joined: 08 May 2008
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Posts: 364



3752 Magic Points
 
 Posted on Wed Jun 04, 2008 5:22 am  
HarmisonPaul,

YOu should pop over to the credit repair forum and read about debt validation. Each account your letters get removed can raise your credit up to 20 points. Oh, and a credit card will raise your score if you pay on time.
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Free sample letters,
info on paying off payday loans,
and quick credit repair tips.
Pesonalized credit repair advice in the forum:

www.homecreditrepair.net

http://homecreditrepair.hqforums.net/
 
carol

carol

Joined: 27 Jun 2006
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Posts: 272



7874 Magic Points
 
 Posted on Wed Jun 04, 2008 7:26 am  
To raise your credit score you can try out the following
First sent a DV letter to the CA and on getting a validation of your debt sent them a PDL agreement and come to an agreement with the CA that you can repay only a certain percentage of the debt say 50%, but the CA must remove the debt from the CA as soon as you repay the debt. As soon as the CA removes the negative element from the CR, your score automatically gets increased. So why pay extra money to somebody else when you can use this money to pay back your debt.
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Keep in touch
Carol
 
scott

scott

Joined: 28 Jun 2006
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Posts: 163



4471 Magic Points
 
 Posted on Wed Jun 04, 2008 11:55 am  
I too think that going for credit repair companies will only make you spend more cash out of your pocket. If you manage your own debt properly by paying back the debt in time, i don't think there is any need to go for credit repair companies.
_________________
SCOTT

Social security, bank account, and credit card numbers aren't just data. In the wrong hands they can wipe out someone's life savings, wreck their credit and cause financial ruin.
 
goodnatured



Joined: 03 Nov 2007
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Posts: 2336



970 Magic Points
 
 Posted on Thu Jun 12, 2008 12:58 am  
I agree and you can actually learn about credit repair and management and do this all yourself, it never hurts to learn these things, you will be so much further ahead to have all this knowledge.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
Justin

Justin

Joined: 17 Jul 2006
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Posts: 209



6077 Magic Points
 
 Posted on Thu Jun 12, 2008 8:59 am  
I too agree with you goodnatured. it is always advisable to have a complete knowledge of how to repair your own credit. The forums like this helps a lot to learn. Moreover having a sound knowledge always helps us to manage our credit efficiently and saves dollars which would otherwise have gone to the credit repairing companies for no reason.
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Best Wishes
Justin
 
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 714



71 Magic Points
Subject: debt
 
 Posted on Sun Jun 15, 2008 2:23 pm  
Someone had mentioned Lexington Law. Well, since we can post our OWN experiences with them, here it is. They SAY it takes only "$99.00 to start their services, and $39.00 per month." I don't know what they were thinking, but, they took MORE than $99.00, out of my bank account and kept saying they need MORE than $39.00 (this should have been a 'Red Flag' to me..) to "RAPIDLY ( in less amount of time than they originally said) 'fix' my Credit Score. I put a 'Stop Payment', for the additional $99.00. After a month of 'services' with them, they informed me they "could no longer do business with me BECAUSE of the 'Stop Pyament'. I tried to explain that the 'fee' was debted 2 times. they din't want to hear it. However.....the NEXT month they tried to debit ANOTHER $99.00..because thy claim they never recieved the FIRST $99.00. GOD..what a mess!
 
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 714



71 Magic Points
Subject: debt
 
 Posted on Sun Jun 15, 2008 2:24 pm  
...the BBB MAY have Lexington Law at a 'good standing'...but, I 'beg to differ.'
 
goodnatured



Joined: 03 Nov 2007
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Posts: 2336



970 Magic Points
 
 Posted on Mon Jun 16, 2008 3:31 am  
I have never heard anything bad about them, there is a young man that used it and he says it worked out well for him, but he played a pretty penny for thier work. Did you have a bad experience with them?
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
scott

scott

Joined: 28 Jun 2006
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Posts: 163



4471 Magic Points
 
 Posted on Mon Jun 16, 2008 6:20 am  
Hi sdchargers_63
I think that if you have all the documents which certifies your payment to Lexington Law, you can sent a copy of it to the BBB and reveal their fraud. You should also place a complaint with the FTC in this case I think.
_________________
SCOTT

Social security, bank account, and credit card numbers aren't just data. In the wrong hands they can wipe out someone's life savings, wreck their credit and cause financial ruin.
 
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 714



71 Magic Points
Subject: credit repair
 
 Posted on Mon Jun 16, 2008 10:08 am  
I DO have documents. Bank debits, etc. I tried talking to them, at the time. Never got 'anywhere' with them. Sometimes..you just want to 'let things go'. But, I appriciate the advice, SCOTT.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2336



970 Magic Points
 
 Posted on Thu Jun 19, 2008 2:30 am  
sdchargers,

I would not let it go, I would be demanding my money back, that is a lot of money that they took out of your account. Have you reported them to the states attorney generals office, they may be able to help you get your money back. They are pretty effective, gather up the company information and go to the pa attorney website, you can do the complaint on line, it is really easy to do.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
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