|
asked: Do you think credit repair companies are always a scam?
| Yes |
|
3 |
| No |
|
12 |
| Somewhat |
|
18 |
| Total Votes |
33 |
| Please login to cast your vote. |
|
| Author |
Message |
|
Options 
Bookmark online
|
sorie
Joined: 01 Jan 2009
sorie's page
Posts: 14
Location: GERMANY
683 Magic Points
|
|
Subject: Do you think credit repair companies are always a scam?
|
|
|
Sun Jan 04, 2009 10:21 pm
|
|
|
| Yes and no. |
|
|
Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
|
|
|
|
|
Mon Jan 05, 2009 7:38 am
|
|
|
No, all credit repair agencies are not scams, but most of them are, as they promise to remove all negative listings from your report which is not possible as correct information can never be removed from your report. The credit repair companies can never remove judgments and charge off listings from your report. You can do it yourself what the credit repair company does to repair your credit, but repairing credit needs patience and if you do not have that, you can go for good credit repair agencies.
_________________
All the Best 
Justin |
|
|
fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
|
|
|
|
|
Tue Jan 13, 2009 2:12 am
|
|
|
| I hear that some credit repair companies actually work with the collection companies. Does anyone know if this is a true statement? |
|
|
carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
|
|
|
|
|
Tue Jan 13, 2009 6:50 am
|
|
|
Yes, the credit repair companies has to work with collection agencies in order to build up your credit. Once you go for credit repair service, the credit repair agency negotiates with the collection agencies for pay for deletion after you pay off the outstanding debt so that as soon as you pay it off, the negative listing goes out of your credit report. Since the credit repair companies have many clients who owes money to the same collection agency, the CA also agrees to delete the listing as soon as you pay off the amount as agreed.
_________________
Keep in touch
Carol |
|
|
fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
|
|
|
|
|
Tue Jan 13, 2009 10:17 pm
|
|
|
| I have heard though that some work with them to see that the credit card company gets as much as it can back from the debtor. So it is saying perhaps that the credit repair companies actually are more for the collectors than for the debtor. Could they legally do this and if so would it not violate the consumers right? |
|
|
Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
|
|
|
|
|
Wed Jan 14, 2009 8:35 am
|
|
|
| If the credit repair companies have oral agreements with the collection agencies, then I don't think that it will come under consumer right because you have no proof. So the best way to repair your credit is to do it by yourself. Doing so, you can negotiate with the creditor for the settlement amount on the debt and you can save money you would have given to the credit repair agencies and use this money to repay off the debt. |
|
|
Doc
Joined: 02 Dec 2008
Doc's page
Posts: 203
Location: McKinney, TX
954 Magic Points
|
|
|
|
|
Wed Jan 14, 2009 11:14 am
|
|
|
True "credit repair" companies do not negotiate with (terrorists) debt collectors...
They work to eliminate inaccuracies and omissions from your credit files...
Working "with" debt collectors is truly titled as "settlement" or "negotiation".
_________________
-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 |
|
|
fatherbride
Joined: 28 Jan 2009
fatherbride's page
Posts: 9
381 Magic Points
|
|
|
|
|
Sat Feb 07, 2009 4:43 am
|
|
|
If you are thinking about using the services of a credit repair company, you should know that the Federal Trade Commission has rules that these companies must obey.
Credit repair companies are not allowed to ask for money up front. If they do, they are breaking the law. The FTC also requires these companies to let you know that you have three days to cancel the services and honor the waiting period. |
|
|
MsFineIam
Joined: 28 Feb 2009
MsFineIam's page
Posts: 1
34 Magic Points
|
|
Subject: I will wait and observe
|
|
|
Sat Feb 28, 2009 3:38 am
|
|
|
| Hello everyone I am new to the forum and I can't vote on this reply at this time but I will tell you however that I have spent a lot of money on Attorney's fees and have gotten no where so I will see what a credit repair company does for me. Research, BBB, and using the tools are all good advice. |
|
|
Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
|
|
|
|
|
Mon Mar 02, 2009 9:48 am
|
|
|
Hi
I think that instead of taking the help of credit repair agencies, you should start repairing credit by yourself. Doing this will help you to save the agency fees and use it to repay your debt. Credit repair is not at all a difficult task, but it is time consuming and so you should have patience if you want to repair your credit. There are several posts in the forum which will help you out to repair your credit.
_________________
All the Best
Justin |
|
|
Star
Joined: 12 Mar 2009
Star's page
Posts: 1
46 Magic Points
|
|
Subject: Do you think credit repair companies are always a scam?
|
|
|
Thu Mar 12, 2009 3:26 am
|
|
|
All thought every business can have their scam artists, in it for the quick buck, most every owner of credit repair companies that I know care about doing their best for their clients.
The credit repair dispute mills I feel aren't scammers but don't always do the best for many of their clients. Attacking negative entries can make scores worst in certain circumstances and only account for around 35% of what makes up your credit score.
Dan Sater |
|
|
carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
|
|
|
|
|
Thu Mar 12, 2009 6:17 am
|
|
|
As per the Federal Trade Commission, the credit repair companies that want you to pay before they offer you any repair service is a scam because as per the CRO Act you need not pay anything to the repair company until you get the service as promised by them. It should always be kept in mind that if a credit repair company promises to remove legitimate and correct information from your credit report, they are lying.
_________________
Keep in touch
Carol |
|
|
ensurepune
Joined: 17 Feb 2009
ensurepune's page
Posts: 74
22 Magic Points
|
|
|
|
|
Sat Mar 21, 2009 7:25 am
|
|
|
if some credit repair company is claiming that they will do everything to make it possible (even gray hat practises too) it is better to stay away.those who are wise they can smell the rat from distance also.so ........wise are those who beleive "there could be some descripancies in the services but there will be legitimate answers for them and no goofy." hope this will shed some light on the matter.  |
|
|
Guest
|
|
|
|
|
Tue Apr 21, 2009 7:26 am
|
|
|
| Although there are many reputable credit repair companies in existence today, there are also many scams being perpetrated on unsuspecting consumers. Like most credit scams, credit repair scams prey on those people who are feeling desperate and willing to believe even unreasonable promises. |
|
|
internet15
Joined: 16 Apr 2009
internet15's page
Posts: 51
2439 Magic Points
|
|
|
|
|
Tue Apr 21, 2009 7:27 am
|
|
|
Credit repair organizations have been popping up all over the place — in television and radio ads, in the Yellow Pages, and on the Internet. They sound like a great service because they often promise to remove negative information from your credit history. Who wouldn't want that? Be warned: Accurate information, both positive and negative, cannot be removed from your credit report by using credit repair fraud. In fact, most information stays on your credit report for seven years, and bankruptcies can stay on your credit report for up to 10 years.
_________________
Free Credit Repair|Fast Payday Loans |
|
|
9% 
Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next 
