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asked: Do you think credit repair companies are always a scam?
| Yes |
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5 |
| No |
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15 |
| Somewhat |
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18 |
| Total Votes |
38 |
| Please login to cast your vote. |
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CreditAdvocate
Joined: 28 Dec 2009
CreditAdvocate's page
Posts: 6
150 Magic Points
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Tue Dec 29, 2009 12:16 am
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| There are some legitimate Credit "Repair"companies out there but you have got to be careful!!!! Truthful speaking credit repair companies are not doing anything that you can't do yourself, its just that sometimes we as consumers don't want to put in the effort to achieve the results that we desire so we pay someone else to do it. I think that ever consumer should take the time to become famliar with the Fair Credit Reporting Act, FACTA, and the FDCPA and the Credit Repair Organizations Act (CROA). As consumers we have got to stop yielding the power to everyone else and starting arming ourselves with the knowledge that we need to invoke our consumer rights! Lastly, if a company is just "repairing your credit", deleting negative tradelines, and not doing anything to help you build your credit, they are truly hurt you in the end!!! |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 184
Location: McKinney, TX
1127 Magic Points
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Tue Dec 29, 2009 1:19 am
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Credit Advocate is right about the last thing in particular... We suggest that consumers build credit in addition to letting us work on the derogatories...
For example, we suggest secured credit cards for revolving tradelines... For example: http://www.creditgecko.com/secured.html
_________________
-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: 3927
10 Magic Points
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Tue Dec 29, 2009 1:24 am
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| This is true building credit while working on derrogatory only makes sense, having derrogatory items removed will improve your score and building credit will improve your score at the same time, it is a win, win. |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 184
Location: McKinney, TX
1127 Magic Points
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Wed Dec 30, 2009 2:26 am
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Plus, if all you do is REMOVE credit, you eventually run out of tradelines altogether...
One of the key elements to a good credit score is a good 'mix' of credit... In other words, if you don't have a revolving tradeline (credit card) there's a bit of a cap on your score...
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-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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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Wed Dec 30, 2009 4:49 pm
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| There is also something as having too much credit. We recently close some newer accounts. They were a couple furniture store accounts but they were values over $13,000 and I heard that open accounts like that, even though you owe nothing, effects your debt to income ratio. How true is that. We did call our bank ahead of time and asked if it would hurt our scores to close them and they said no. We have have a few cards with years of good credit history on them so I assumed it would be ok. (We is my hubby and I). |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 184
Location: McKinney, TX
1127 Magic Points
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Wed Dec 30, 2009 6:14 pm
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***IMPORTANT NOTE***
"Debt-to-income" ration is not the same as "credit-utilization-ratio"...
DTI ratio has nothing to do with your report... Debt / Income
CU ratio is a measure of how maxed out you are... That DEFINITELY impacts score...
_________________
-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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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Sat Jan 02, 2010 2:20 am
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| I did not know there was two different measures. I actually never heard of the Credit utilization. It does make sense. Thanks for the information. I like when there are new things to learn here. You always give valuable advice and information. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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Sat Jan 02, 2010 2:37 am
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| fireyone did you get my email about referrals |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Sat Jan 02, 2010 6:02 pm
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| Yes and I just completed one today. I usually do not do those sites since I have dial-up and it is so slow but I joined and did one to help you out. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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Sun Jan 03, 2010 4:34 am
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| Thanks, I appreciate it. I did see where you got everything completed. |
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Enriquehajela
Joined: 07 May 2010
Enriquehajela's page
Posts: 11
128 Magic Points
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Fri May 14, 2010 10:07 am
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NO it is not always a scam.before you invest your money, invest your time and check all thing about company because this step is very necessary. check company is liable or not.
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Bad Credit Car Refinance |
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mooron1234
Joined: 14 May 2010
mooron1234's page
Posts: 3
68 Magic Points
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Subject: Default Judgment not onCredit Report
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Fri May 14, 2010 7:38 pm
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Facts:
I owed Capital One in 2004 aboyt $3,000.
I was served to be sued by Esknos and Adler for Capital One. I did not respond.
At that time in 2004 I owned a home
I sold the home immediatley after being served
I assumed it went to deafual judgement
Research into County Records shows an Abstract of Judgment in the County records
I have never been approached (not that I could be found) for garnishment, etc..
The judgment is NOT ON ANY CREDIT AGENNCY
Weird? |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: reply
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Mon May 17, 2010 10:04 am
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Hi,
Your query has been answered at http://www.creditmagic.org/judgment/not-listed.html#46188 .
If you have further queries, you can feel free to discuss in the forum.
Thanks,
Aaron
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SqineKennz
Joined: 18 May 2010
SqineKennz's page
Posts: 1
25 Magic Points
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Tue May 18, 2010 12:27 pm
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To protect yourself from falling victim to a credit repair scam, you have to stand for your rights as a consumer. You should familiarize yourself with the Credit Repair Organizations Act, which offers you some substantial rights and protections. The Act specifies that credit repair firms must inform you of your rights and obligations before you can sign a binding contract with them. They are also prohibited from extracting their fee from you before they have provided the services they were contracted to perform.
Hope it serves you the purpose. |
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Lisa
Guest
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Subject: DO IT YOURSELF
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Thu May 20, 2010 2:51 pm
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| I did everything I was told to do and disputed my credit report and tried to clean stuff up and it ended up dropping my score by 62 points! UNBELIEVABLE and the "so called" investigation the 3 credit bureaus did was not thorough or complete. I'm disgusted with this system. As for freecreditreport.com, that is a joke also. It is not worth the money. It gives you alerts, but no details. I am going to lose the home I want to buy for me and my children because of all this. I will NEVER listen to an attorney about disputing my credit report again. I will take this on myself and work it out on my own. What a waste of 3 months and $400.00 worth of payments and payoffs. |
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