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Honest Credit Repair
By JLP | April 12, 2006
The May issue of Kiplinger’s Personal Finance, which is a very good issue by-the-way, has a small article about honest credit repair (unfortunately, Kiplinger’s doesn’t put every magazine article up on the web). When it comes to credit counselors, you have to be on the lookout for snakes. The U. S. Trustee’s office has a list of 132 approved firms.
Kiplinger’s advice is to avoid working with an agency that presses you to enter their debt-management program. Instead, look for agencies that charge a flat fee (around $50) to help assess your budget and help you come up with a solution.
Good advice.
Topics: Budgeting, Credit | 24 Comments »
April 12th, 2006 at 8:10 am
Co-Signing!
Mmm hmm, that’s good advice. LOL
For the DIY’ers, I’d recommend creditboards.com (no personal affiliation).
April 12th, 2006 at 1:31 pm
It’s not credit repair, I know, but one thing that more and more people are getting burned on is debt settlement companies. DH’s company, for instance, will not, bottom line, end of story, work with Credit Solutions of America. They sue the debtor instead.
April 18th, 2006 at 8:36 am
Hi, my name is Chris and I work at Help.com. A member asked a question which I am forwarding to you. After reading your blog I thought you’d have the expertise to formulate a good answer. He asks:
“Is there any way to repair very poor credit?? My credit score is VERRRY low. I really want to buy a home but I feel really discouraged. I am getting conflicting information on whether or not to pay off old debts. My main objective is to buy a home and have good financial health. My timetable is to have a 580 score in 6 months. That is about a 100 point jump!! Are my goals unrealistic?? Am I just kidding myself??”
June 8th, 2006 at 6:56 pm
I have seen people with bad credit get raked over the coles with high interest rates and bank fees, I used to sell cars for a living and let me tell you it is sad to see good people who have had some tough times with job loss or divorce have to struggle with bad credit. I have been there myself and it dose not have to be that way. find a good credit repair company who is well known, and not some small fly by night place that promises what they can’t deliver.
June 8th, 2006 at 6:58 pm
I have seen people with bad credit get raked over the coles with high interest rates and bank fees, I used to sell cars for a living and let me tell you it is sad to see good people who have had some tough times with job loss or divorce have to struggle with bad credit. I have been there myself and it dose not have to be that way. find a good credit repair company who is well known, and not some small fly by night place that promises what they can’t deliver.
http://www.creditrepairfree.org ( forgot to put website that may help you)
July 26th, 2006 at 11:35 pm
I work for a Credit Repair Firm, and though you can boost your own scores, we have been doing it for almost 5 years. The owner will also help you look and purchase a home.. The key to succesful credit repair, is to be sure you have positive revolving credit. If you don’t you can open a secured visa with your own money and use it for gasoline purchases. We specialize in debt validation which requires your creditors to proof the debt actually belongs to you. If the creditor/collector cannot prove the debt, they have no right in collecting it. Another key is to minimize your inquiries, for 1 inquiry can lower your credit score anywhere between 2-5 points. You can have inquiries removed from your credit reports which should improve your scores. We at Fine Credit Repair are always available to give consumers free information on how you can help yourself.
July 26th, 2006 at 11:38 pm
PS you can send me an email @ wereyoudenied@aol.com or visit us online @ http://www.finecreditrepair.com
May 27th, 2007 at 12:29 am
It is important to know that there is no ‘quick-fix’. Improving your credit score takes time and can only be done by progressively paying off your debts.
Requesting credit card companies to re-age and re-establish your past due debts is an approach you can take. You must request that all payments be reported to the credit bureaus.
Negotiating settlements is yet another approach as long as the creditor agrees to report to the credit bureau as ’settled in full with a zero balance’.
Some creditors will not do this on the first communication. Sometimes it will require 3 or 4 attempts until you get someone that is willing to work with you and push your request through.
Whatever agreement you reach make sure you get the details ‘in writing’. There is a high turn-over rate when it comes to bill collectors and you want to make sure you can prove what was agreed too.
Hope this helps.
God Bless.
Carlos Cruz
May 27th, 2007 at 12:31 am
If you need further help… http://www.DebtCredit101.com
May 29th, 2007 at 11:50 pm
Hey! your article is quite interesting and providing valuable information with regards to Bad credit and find similar article ..bad credit,bad credit real estate loan
May 30th, 2007 at 4:46 pm
Has anyone ever heard of trinitycreditservices.com
May 30th, 2007 at 4:47 pm
Has anyone ever heard of trinitycreditservices.com They are a credit repair company, someone said that they are good.
June 6th, 2007 at 11:53 pm
There is lot to learn from elders to avoid Bad Credit.This article gives clear view on how to excel in life by taking suggestions from elders.so here i am linking you relevant site to get more details,
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June 14th, 2007 at 6:06 am
This page gives excellent information on bad credit, bad credit loans and here is a similar page for bad credit loans, small business loans, poor credit history, bad credit private student loan …
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July 27th, 2007 at 2:32 pm
Do it yourself, free info: http://mix6.com/credit/
Includes detailed explanations, sample letters, summary of the applicable laws, dealing with debt collectors, and more.
August 9th, 2007 at 2:59 am
It’s really not easy getting out of a “bad-credit” situation.. I have been there myself… It sure takes a while, but I also recommend getting some help from the expert… it might help a lot.
August 29th, 2007 at 2:15 pm
Here’s a article on illegal credit repair scams, emails that promise instant relief and what you can do to protect yourself from these scammers:
illegal credit repair scams like negonline.com
Don’t get taken by credit repair scams.
Ann Marbles
September 13th, 2008 at 5:40 pm
A lot of folks do not realize that paying on your old debts just adds to your trouble. I work for a company that erases the bad credit forever, and they get the average member an increase in their credit score of 127 points in just 6 months. But, we don’t just do credit repair. We offer over 20 different benefits for our clients. Plus, we have been in business since May 1990 and have not had a single Better Business Bureau complaint filed against us ever. And that is with over 45,000 clients that we have helped. I just wish more folks would come to us instead of trying to figure things out on their own. If you have questions, feel free to contact me 1-800-270-7198 ext. 715
September 13th, 2008 at 5:58 pm
I have heard of lots of folks wanting to do DIY credit repair. You can do it, it takes much longer and here is why. Say you have a court case. You go into fight for yourself without having an attorney on hand to fight for you, the judge listens to what you have to say in concern as to why he should not throw the book (law ) at you. Where as, if you had an attorney in the court room fighting for you, he knows the laws, the loop holes, and knows what the judge will take seriously and what he will take and blow off. It is the same way with the credit bureaus. You can contact them, argue with them till you are blue in the face, and maybe just maybe, they will listen to you and erase your bad credit items. This is all done maybe after fighting with them for over a year or more. Sure you may think it is saving you money by the DIY method, but it isn’t. It actually costs you more in the long run and here is how. Auto loan an extra $128 per month. (based on a $22k auto loan). Mortgage Loan an extra $5,328 per year (based on a $175 home mortgage repaid over 30 years) Credit Card an extra $133 per month (based on a credit card balance of $8k) Auto Insurance an extra $140 per year. (these are used for illustration purposes only and may not accurately reflect what you are currently paying).
It costs you much more to do this by yourself than if you just hire the experts to help you.
Oh, I almost forgot!!! I am offering a $50 prepaid visa gift card for all who sign up by Wed. 9/17/08 give me a call and we will help you out. 1-800-270-7198 Ext. 715
October 1st, 2008 at 3:05 pm
I work for a very unique credit score enhancement service. 99.9% of my customers come from the mortgage professionals themselves. I would be happy to give anyone a free consultation to see if you are a good fit for our program. Our goal is to first get you qaulified for a loan, then enhance the score as much as possibe. We also educate our customers as well. Call me 727-512-4968
December 2nd, 2008 at 11:39 pm
Everyone sometimes need credit repair like me. You know what? It greatly helps me because I’ve spent the majority of my adult life trying to keep up with the Joneses. As an American, there is an undeniable pressure to live the “American Dream”. I just think it’s ironic that the American Dream has become almost identical for everyone—big houses, fancy cars, a white picket fence, and expensive things. It’s pretty evident that all of these luxuries and material goods aren’t making Americans happy. Instead of happiness, I feel guilt and stress when I make purchases at the store. I feel guilty for buying something I know I don’t really need, and I feel stress because I know my credit card bill is going to be huge. I, like many Americans, need to reevaluate what really makes us happy. Focusing on material goods isn’t making me happy. All these things that I have are just weighing me down emotionally and financially. The simple things in life make me happy—like spending time with my kids, getting outdoors, and talking with my husband. The best part is none of those things cost money. So why then are Americans so consumed with spending money on worthless things? Americans are addicted to shopping and spending to impress each other. I’m sure my designer clothing impresses a few people, but if they knew how much credit card debt it took to dress like this, they wouldn’t find it as impressive. Keeping up with the Joneses is overrated, and I’ve paid a heavy price to try to live the “American Dream”. I’m going to start living my own dream—the real American dream. I’m going to start managing my money, saving my money, and paying off my debts. My credit score is also extremely low, so I’m going to get credit repair help. With less debt and credit repair I can focus on the things in my life that truly make me happy—my family. Click to read more on Credit Repair.
December 3rd, 2008 at 6:54 am
Always make sure to check if the agency is a member of the National Association of Credit Services Organizations.
August 6th, 2009 at 5:51 pm
if you are in trouble with debt, you must get rid of it because it will hunt you for the rest of your days. this company really helped me, Best Debt Relief Company
August 6th, 2009 at 5:54 pm
this company really helped me go debt free. With no upfront fee, and they helped me chose which program was better for me, debt consolidation or debt settlement.