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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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12 |
| Somewhat |
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18 |
| Total Votes |
33 |
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internet15
Joined: 16 Apr 2009
internet15's page
Posts: 51
2439 Magic Points
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Tue Apr 21, 2009 7:28 am
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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.
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Free Credit Repair|Fast Payday Loans |
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Gilligan
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Subject: Credit forum
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Wed Apr 22, 2009 5:51 am
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I have an emergency situation where i need to get $1000 fast for my car to
be repaired. I need the money fast but I still want to not get screwed over.
My friend suggested an online site that he used before called
instantbailoutdotcom I looked it over and it looks ok, but I am not sure
what is a reasonable rate for a payday loan. Is there a standard for this
type of loan? Also does a payday loan effect your credit? |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Wed Apr 22, 2009 8:12 am
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Before going for payday loans I think that you should check whether the payday loan company is legal in the state or not and then go for the loan. Can you please tell me the state where you currently stay?
Payday loans does not affect your credit so long as you pay them back on time. But because these payday loans have very high interest rates, it is likely that most borrowers cannot keep up with the payments and become delinquent. Now, if you become delinquent, the creditor can report it to the bureaus and your credit score may get affected.
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Keep in touch
Carol |
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Marc Williams
Joined: 09 Jul 2008
MarcWilliams's page
Posts: 8
358 Magic Points
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Subject: All of them?
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Mon Apr 27, 2009 4:50 pm
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Credit Repair is a service... you should pay a normal fee for a service rendered on a monthly basis. It is only a scam when results are guaranteed. Otherwise it is perfectly alright to hire somebody to clean up incorrect negative information from your credit reports.
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Marc Williams
Fast & Reliable Credit Repair |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Tue Apr 28, 2009 7:35 am
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I have also seen credit repair agencies making claims that they can remove even bankruptcy from your credit report. Bankruptcy is a public record and can never be removed from your report and it stays there for seven to ten years and affect your score. Moreover, as per the FTC guidelines, the repair agencies cannot charge you till the time they have provided you with the service they have promised. Some information like hard inquiry can be easily removed from your report by sending letters to the inquirers and for that you need not even hire a credit repair agency.
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Where there's a will, there's a way !! |
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CreditRepairCompaniesWill
Joined: 04 May 2009
CreditRepairCompaniesWill's page
Posts: 2
73 Magic Points
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Subject: There are some ethical credit repair companies
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Mon May 04, 2009 1:24 am
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While I certainly agree that there are many unscrupulous credit repair agencies, there are some very honest ones as well. The important thing is to do your homework! Just like you wouldn't hire a roofer without getting references, if you're considering hiring a credit repair agency get references, ask lots of questions, and check with the BBB and the ECRA
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Before hiring do your homework! |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 203
Location: McKinney, TX
954 Magic Points
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Subject: misinformation
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Sun May 10, 2009 11:59 am
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Although I know most of it is placed on the forum in the interest of helping people, there does exist a trememndous amount of misinformation, and incomplete information, particularly as it applies to credit repair organizations. On just this page, for example, someone mentions researching the BBB.
The BBB does not afford membership opportunity to credit repair organizations, nor does it offer anything but an "F" rating to them. I have spoken with the director of my local BBB personally, and he said it was simply a "organizational policy" to never give credit repair companies a fair shake...
My own company has had but a SINGLE complaint in it's five-year history. That complaint was answered, and a MOUNTAIN of evidence was provided (by yours truly) to refute the ridiculous claim of a client whose file had been closed for over three years, simply sought to to the leverage the BBB against me, and get free money... However, the BBB "administratively closed" the action, basically citing a lack of information to substantiate either party's claim. This is a complete fabrication in my instance, but it's the way the sweep false claims under the rug for non-members...
Now, as for the comment about public records... Also false. The examples page of my website shows MULTIPLE examples of BK's, judgments, liens, etc. having been removed as recently as last month. Public records are held to the same standards of reporting as are any other item...
I offer free advice on here, but I am also available BY PHONE in my office during normal business hours...
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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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Firang
Joined: 28 Apr 2009
Firang's page
Posts: 58
-25 Magic Points
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Sat May 16, 2009 6:00 pm
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Doc such a nice info on your part .Really informative.
But I request all the people that they should stick to only those credit improvement companies which are having BBB affiliation.So it will save your time to search for an authentic service agency. |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 203
Location: McKinney, TX
954 Magic Points
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Subject: Again...
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Sun May 17, 2009 10:41 pm
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NO credit repair company has a legitimate association with the BBB... They do not afford membership (accreditation) to ANY credit repair company.
There do exist a few companies that have lied or misrepresented what they do, and have managed to get something other than an F rating, but it is the BBB's policy to ONLY give F ratings to credit repair organizations, regardless.
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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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Firang
Joined: 28 Apr 2009
Firang's page
Posts: 58
-25 Magic Points
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 203
Location: McKinney, TX
954 Magic Points
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Subject: "benchmark"
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Wed May 20, 2009 4:17 pm
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If the BBB is NEVER going to be anything but an "F" as a policy, then is it really a legitimate BENCHMARK..? I hardly think so... If there are a significant number of complaints, then THAT is certainly something that merits consideration, but the actual RATING is anything BUT legitimate.
Each state has different rules about credit service organizations. They have different registration and bonding requirements in each state, although they general follow something in the order of a registration and annual review and renewal of said registration, plus a bond of $10-100K, assuming they charge up-front fees.
In my state [TX], the Secretary of State handles it, but it varies from state to state...
The best bet would be to Google "[your state] credit repair regulations".
Thanks for affording me the opportunity to help dispell some of the myths and fallacies about credit repair... If you would like to confirm what I have said about the BBB's policies on credit repair, I would encourage you to call them yourself... 1-703-276-0100
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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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Firang
Joined: 28 Apr 2009
Firang's page
Posts: 58
-25 Magic Points
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 203
Location: McKinney, TX
954 Magic Points
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Subject: "list"
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Thu May 21, 2009 2:20 am
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To my knowledge, there exists no such list...
If anyone has a question about the regulatory body in a particular state, please feel to contact me through our website... I'll be happy to find out, if I don't already know...
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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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Firang
Joined: 28 Apr 2009
Firang's page
Posts: 58
-25 Magic Points
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cdloanmod
Joined: 26 Jan 2009
cdloanmod's page
Posts: 24
Location: Laguna Hills,CA
790 Magic Points
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Subject: Do you think credit repair companies are always a scam?
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Thu May 21, 2009 8:45 am
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| This is not true. but mostly people use to say this |
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9% 
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