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HomeCredit ForumCredit repair

Is credit repair always a scam

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asked: Do you think credit repair companies are always a scam?
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Yes
20% 20% 
 3 
No
13% 13% 
 2 
Somewhat
66% 66% 
 10 
Total Votes 15
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Mary

Mary

Joined: 06 Jul 2006
Mary's page
Posts: 221



6380 Magic Points
 
 Posted on Thu May 15, 2008 5:55 am  
Hi goodnatured

You are correct. This forum is a wonderful place to discuss about the credit repair companies and our experiences with such companies, so that others in the forum can be benefited.
_________________
Where there's a will, there's a way !!
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2411



17226 Magic Points
 
 Posted on Sun May 18, 2008 11:18 pm  
It is actually nice to be able to help someone else. Having gone through times like these we all can feel for someone else who just began trying to get everything fixed.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2882



187 Magic Points
 
 Posted on Mon May 26, 2008 2:01 pm  
You know what they say fireyone, experience is the best teacher, well even if we walk away from a bad experience with something learned it is not a total loss, we can then share the information and move on from there.

It is natural for us to get all stressed out when we hit these financial crisis, but what we take a way from it is invaluable. A kid won't touch a hot plate if they have been burned previously from it, so this is sometimes the way we learn.
_________________
Goodnatured,

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

anthony

Joined: 31 Jul 2006
anthony's page
Posts: 446



11206 Magic Points
 
 Posted on Tue May 27, 2008 6:46 am  
I too think that even sharing bad experiences help us learn something. When anybody is hit by a financial crisis as goodnatured pointed out and he shares his situation with the forum, not only does he gets help of how to get out of the situation, but also others can gain knowledge of how to get out of the situation if faced with similar crisis. I myself have benefited by learning a lot from this forum
_________________
Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
You can also visit my blog
http://financewatchonline.blogspot.com
 
maynor



Joined: 06 Jun 2008
maynor's page
Posts: 1



31 Magic Points
Subject: Do you think credit repair companies are always a scam?
 
 Posted on Fri Jun 06, 2008 9:30 pm  
For the most part they are
 
creditcardwarehouseonline



Joined: 28 May 2008
creditcardwarehouseonline's page
Posts: 22



970 Magic Points
 
 Posted on Fri Jun 06, 2008 11:48 pm  
I have personally used lexington law and it is not a scam. My score raised about 40 points in six months. However i stopped using them when equifax sent me one of their letters claiming that they cannot verify information for a third party. Meaning it had to come directly from me. And when i looked at what they wrote it was as a 10 year old wrote the verification letter. Nothing fancy and nothing Lawyerly about it. So i decided instead of paying 60/month why not just do it myself. Which I did and I got better results. So my advice is that although they are not scams you can do probably a better job doing it yourself.
_________________
Visit my website for some spectacular credit card deals. Excellent Gas Rebate Cards.
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2882



187 Magic Points
 
 Posted on Mon Jun 16, 2008 3:26 am  
creditcardwarehouseonline can you put a sample letter on here so the rest of us can use it please?
_________________
Goodnatured,

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



Joined: 09 Jul 2008
MarcWilliams's page
Posts: 5



276 Magic Points
Subject: There are many companies that are not a scam!!
 
 Posted on Wed Jul 09, 2008 4:29 pm  
Hi,

There are many Credit Repair Companies that are not a scam, but you have got to be careful. Make sure that they only bill you when work is completed and that they don't guarantee that they will clean up your reports, because you can't guarantee that. A good alternative is a guarantee where you don't pay for their service unless they are successful in improving your credit reports.

If you are looking for a Credit Repair Company, do yourself a favor and first look for a Credit Repair Guide and/or Credit Repair Analysis on the internet and if you get a good response you can move forward.

Good luck!! Very Happy
_________________
Marc Williams
www.FRCreditRepair.com
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2882



187 Magic Points
 
 Posted on Thu Jul 10, 2008 3:17 am  
True, always do your homework before investing your money. You can learn about credit repair and do it yourself, you end up with a good education on credit this way also.
_________________
Goodnatured,

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

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 297



8088 Magic Points
 
 Posted on Thu Jul 10, 2008 10:32 am  
You are right goodnatured. Although it is true that all credit repair companies are not scams, yet going for a credit repair companies will extract dollars out of you. Instead of spending dollars to repair credit, we can use these dollars to repay our debts. I think there are many pages in the creditmagic forum itself which gives us an idea of how to repair our own credit by just keeping track of our credit reports.
_________________
Best Wishes
Justin
 
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 2882



187 Magic Points
 
 Posted on Thu Jul 10, 2008 3:30 pm  
I know, we should work on a page that talks about credit repair, maybe we could all contribute to it and come up with a guide some how. I could use it myself. Is this something that you want to work on?
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!
 
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 631



-31 Magic Points
 
 Posted on Thu Jul 17, 2008 3:09 am  
Thats a good idea, we should do one just on them, it would be easy to find and we could attempt to keep it organized.
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2411



17226 Magic Points
 
 Posted on Thu Jul 17, 2008 3:40 pm  
I agree with Justin. The money spent on credit repair would help paying off other bills. Most of what they do people could do theirselves. There is actually things you have to do yourself anyway like verifying. I would like to see a site on the repair process.
 
Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 297



8088 Magic Points
 
 Posted on Fri Jul 18, 2008 9:43 am  
Yes, some of the steps that we can take to repair our own credit may include:
1) keeping track of our credit report on a regular basis
2) notifying any discrepancies in the credit report immediately to the credit reporting agencies
3) sending a DV letter to the CAs if you find any listing that do not match with our record. Or you may even send a DV letter to validate your debt, and try to make the creditor agree for PFD.
4) Asking the creditor to delete any unauthorized hard inquiry if you find any in your credit report.
_________________
Best Wishes
Justin
 
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 2411



17226 Magic Points
 
 Posted on Fri Jul 18, 2008 12:34 pm  
Pretty good advise once again Justin.
 
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