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asked: Do you think credit repair companies are always a scam?
| Yes |
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4 |
| No |
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13 |
| Somewhat |
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18 |
| Total Votes |
35 |
| Please login to cast your vote. |
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A. Trahan
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Subject: Credit removal companies
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Mon Oct 26, 2009 7:52 pm
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| Comments in Credit Magic does not identify the companies used to repair and/or remove credit. How do we know who is legitement or a scam. |
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Scruffy09
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Subject: Credit Repair
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Sat Dec 05, 2009 10:50 pm
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I lost money from a guy in North Carolina who took my money and never did anything.
Then a friend referred me to a place in Arizona that was great called Wise Choice Credit Repair. They got rid of a bunch of negatives super quick. Also they don't make you pay upfront. The price was inexpensive also. |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 204
Location: McKinney, TX
989 Magic Points
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Mon Dec 07, 2009 1:29 am
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It's a good idea to check with whatever state government office regulates banking in your state. They'll probably be able to refer you accordingly.
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4201
1469 Magic Points
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Mon Dec 07, 2009 5:49 pm
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It is important to do your homework when you are going to depend on someone else to take care of your bills for you. You have to take the time to do research like with the places that doc mentions above or come to a forum like this and ask your questions before making a commitment to them.
Sorry to hear that you had a bad experience, thank god it was inexpensive. Do they have your bank account information, if so, I would watch it in the future and make sure that you dispute any charges they put on there when they did not do the work that you contracted them to do. |
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simpletruth
Joined: 29 Sep 2009
simpletruth's page
Posts: 40
8 Magic Points
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Subject: credit repair companies
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Tue Dec 08, 2009 4:59 pm
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| LIKE MOST THINGS OUT THERE YOU GOTTA LEARN TO WEED OUT THE BAD FROM THE GOOD.My sister found a very good company ( I don't know the name ), she got all of her creditors paid within the timeframe they predicted. She now has her credit rating back where she wants it. When she first told me about what she was doing I thought she was being takin, and told her what I thought. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4201
1469 Magic Points
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Tue Dec 08, 2009 6:04 pm
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You should know going into something like this what you are actually getting into. It is our responsibility as consumers to do the research to make sure that a company is legit and that they have a good track record before giving up our hard earned dollars.
Unfortunately as with any company or any industry you will have your scam artist out there trying to make a quick buck and take advantage of people in bad situations to make it.
The best way is to educate yourself and attempt to do the credit repair yourself, if you find that it is a task that you can not handle then start looking into companies to do it for you. |
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simpletruth
Joined: 29 Sep 2009
simpletruth's page
Posts: 40
8 Magic Points
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Tue Dec 08, 2009 8:26 pm
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| Well aren't the debt consolidation companies basically trying to repair your debt. I mean you must have overextended yourself and caused problems with your credit ratings or why would you use them. You've ruined your credit and now you're looking for a way to repair the situation. After you put your credit cards into the hands of a debt conselor and your debts are cleared , your're on your way again. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4201
1469 Magic Points
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Tue Dec 08, 2009 8:38 pm
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Good point, it is good to be aware of your problems and to try and do something about it before it is too late.
Some of us learn the hard way, that is why we are here, learning from each other and paying our dues.
It is a good community with lots of advice from people who have been in a hard place and digging themselves out. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4604
10874 Magic Points
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Wed Dec 09, 2009 2:28 am
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| Credit card debt is one of the biggest and easiest things to get in. It starts out with just a little here and then you say Oh its only a little more I will go ahead and get it..pretty soon the bill is higher than you ever planned. Its scary. Once we paid most of ours off we weeded out a lot of them. Yes we kept the oldest ones but the ones not used were closed. It was way to easy to go deeper in debt. Not only that being involved in this forum really helped keep me on track. |
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simpletruth
Joined: 29 Sep 2009
simpletruth's page
Posts: 40
8 Magic Points
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Wed Dec 09, 2009 4:18 pm
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| I had a lot of credit card debt at one time, way to much. So one day I sat down and picked out the lowest amount, paid the minamm on all the others, and put all the extra money on the one I picked out. After I paid it off, I went to the next lowest ,put the amount I now had left from the one I paid off plus the extra money I had left on it. I did this until I was down to only two cards. I now have them down to reasonable amounts and always make more than minimum payments. I think that it is a waste of money trying to pay a third party to get your credit ratings up. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4201
1469 Magic Points
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Wed Dec 09, 2009 4:53 pm
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I agree, you give some good tips, every little bit that you put toward them is more to your advantage and getting them paid off is even better.
great advice simpletruth, good to have you hear, contributing to the forum, welcome aboard. |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 204
Location: McKinney, TX
989 Magic Points
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Wed Dec 09, 2009 5:19 pm
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There's a great book by a guy named Stacy Johnson, called "Life or Debt"... Talks alot about this... I suggest reading it...
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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william
Joined: 25 Nov 2009
william's page
Posts: 1
15 Magic Points
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Fri Dec 11, 2009 10:54 pm
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The case is not same with all companies.But i have noticed that many companies (which even have good BBB rank) are just trying to gather clients and after that they scam them in one way or another.
Again, not all are same.
Thnx,
Rog
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credit repair |
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mary489794
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Thu Dec 17, 2009 8:49 pm
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| it is definately a scam. they make your credit worse by not paying anyone, that worsens your credit. Credit counseling agencies and debt settlement are all scams. The CCA only send a VERY small amount to each creditor, making the account further deliquent. Debt Settlement Companies are just like a savings account that you have to pay for. They sit on your money til u have enough to start negotiating, while all your accounts are becoming further deliquent. You could do this all yourself! Collection agencies do not give the Settlement agencies a better settlement deal than they will give the consumer, so really you are paying these companies to save your money for you. SCAM. and while in the program you cannot get approved for any other kinds of loans/credit cards. |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 204
Location: McKinney, TX
989 Magic Points
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Sat Dec 19, 2009 9:11 pm
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Mary489794---
#1... We aren't talking about debt settlement... That's what you are referring to in your post... And the companies that operate in the means by which you described are definitely scammers...
#2... There are alot of things you COULD do yourself, but pay an expert to do... Landscapers/Yard maintenance... Stitches... Taxes... Criminal defense... haircuts...
Just because you CAN do something yourself doesn't necessarily mean it's the best option... I'm just sayin'...
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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