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asked: Do you think credit repair companies are always a scam?
| Yes |
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3 |
| No |
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9 |
| Somewhat |
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18 |
| Total Votes |
30 |
| Please login to cast your vote. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Fri May 29, 2009 2:14 pm
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| Great advice erb, I use the Pa attorney generals office for just about anything that I want to report, they act quickly and don't take any crap off any companies. They have an online compliant form that you can fill out so it is very convient also. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Fri May 29, 2009 2:16 pm
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| You should got to the mortgage forum and present these questions, there are alot of experts that work in the industry everyday that would better be able to assist you. You can go to that forum by clicking the link at the bottom of this page under "sister communities" click the mortgage fit link. Find your topic and present your question there. Hope you find what you need, goodluck! |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Fri May 29, 2009 2:19 pm
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Usually they willl stay on until the entire 7 year reporting is up, they will how ever update to a paid status, they will stay in the negative side but will reflect paid.
They will fall off either way after the 7 year reporting period is up |
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CreditRepairCompaniesWill
Joined: 04 May 2009
CreditRepairCompaniesWill's page
Posts: 2
73 Magic Points
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Subject: Do your homework!
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Fri May 29, 2009 5:23 pm
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Like any other profession, there are reputable business people who go all out to provide quality service, and then there are the scammers who give all the others a bad name!
Before you hire a Credit Repair Agency check with the Better Business Bureau and with the Ethical Credit Repair Alliance (ECRA). |
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cesalie123
Joined: 30 May 2009
cesalie123's page
Posts: 1
31 Magic Points
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Subject: New Here
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Sat May 30, 2009 5:34 am
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Hi all!
I stumbled across this site looking for a sample letter to negotiate a mortgage modification. I look forward to learning ways of dealing with creditors/banks and improving my credit. |
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LT
Joined: 30 Jan 2009
LT's page
Posts: 64
2134 Magic Points
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Sat May 30, 2009 8:29 pm
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| That is not a proper validation letter, that is a verification letter. Write them back, certified mail and tell them you still dispute the debt and what they sent was not a validation letter. The DV letter should have a copy of your original contract with the OC. They them you would like proof that uou and them (the CA) have any agreement to do business together and you want proof. Tell them that since they can not properly alidate the debt you want them to remove it immediately. Stay on them, I've fought some of the biggest and won. Also look on your credit report and see if after you sent them a DV letter, that your credit report shows, "consumer disputes this account." Good Luck, Remember stay on them hard. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Sun May 31, 2009 3:09 am
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Some people do not have the credit history or score to get a loan from a conventional loan source that is how they end up at the pay day loan lenders.
Best thing to do is to avoid them all together if at all possible. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Sun May 31, 2009 3:27 am
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I went through a similar situation, however, the collection agency had me served, that was almost three years ago and we still have not went to court. I disputed their claim to the debt, I requested that they show that I had a contract with them and not the original credit.
My thing was that I never entered into any contract with them, I did not agree to their ridiculous rates. The attorney that I spoke with said that they have to prove that I owe the debt AND that I owe it to them. I did not enter into any contract with the collection agency.
So, I would say that no this does not constitute debt validation. I would send another letter, certified mail and keep your reciept that they have signed for it. They will not stop harassing you until you inform them that they are to provide proper validation, put up or shut up more or less. They will try to threaten you, don't listen, they use scare tactics all the time.
Tell them that you need a copy of the original contract that you signed with them.
goodluck, hope all works out. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Sun May 31, 2009 4:18 am
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That depends, how many installations do you have as opposed to revolving accounts? It is good to have a variety of types of accounts on your report. The key is keeping them all at a low balance so that your available credit is higher than your debt ratio.
Take a look and see how many of each account you have and then determine if you want to correct it or not. |
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LT
Joined: 30 Jan 2009
LT's page
Posts: 64
2134 Magic Points
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Sun May 31, 2009 11:30 am
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| If you find out let me know, I just sent my first one last week. If I get a response I will post the outcome. Good Luck, everythings worth a try these days. |
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LT
Joined: 30 Jan 2009
LT's page
Posts: 64
2134 Magic Points
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Sun May 31, 2009 11:37 am
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Antics6891
Amit is telling you the #1 thing to never do, that is call and talk with a CA. NEVER NEVER NEVER talk in person, only communicate by mail and make sure you send them a letter telling them to only contact you by mail. A single fact sheet is not a validation letter, it a verification letter. This information can be obtained by a collection networks, when the debt is bought from another CA. The information is usually wrong and they don't usually have the proper information to collect the debt. Remember they record calls and use tricks. If you call and I say NEVER CALL, record your calls, you can legally do this and it will save you in the long run. |
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LT
Joined: 30 Jan 2009
LT's page
Posts: 64
2134 Magic Points
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Sun May 31, 2009 11:38 am
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| I just sent one for the first time I will keep you informed on the outcome |
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LT
Joined: 30 Jan 2009
LT's page
Posts: 64
2134 Magic Points
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Sun May 31, 2009 11:46 am
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Satchmo
You do not want a credit card to be reported as a installment loan. If you do not have a balance or a very low balance on a $15K card, you want that high limit to show. This is where the credit agancies get there debt to income ratio. Dispute the account with the credit agency and obtain the credit rating you deserve, you would be surprised. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Sun May 31, 2009 2:23 pm
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| I posted a reply to this and have no clue where it went, all my posts are endinng up in one single post, does anyone know why? |
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Rich
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Subject: Social Security and Pension Money
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Sun May 31, 2009 4:00 pm
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| I am retired - My Checking account was garnished by a creditor, the only money going to my checking account direct deposit is my social security and my pension, I thought they could not garnished social security & pension money , is this legal for them (creditors) to do this, If not, how can I get my money back, on top creditors garnishing my checking account, the bank charge me a processing fee of $100.00? |
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