Fix Your Credit The Right Way
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Do credit repair companies really work?
Posted Saturday, September 5th, 2009 at 14:39
I want to repair my bad credit and have been doing some research on some of these credit repair companies. They all sound to good to be true! The majority of the items are old accounts, nothing major like a BK or Forclosure. 
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They just charge you for something that you can do yourself. Work directly with you creditors.
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They sound too good to be true, because it ain’t true.
Credit repair companies cannot remove legitimate negatives from your credit report. They typically flood the credit bureaus with dispute of every thing hoping something will slip thru the crack. Even if something does, it tends to show back up the next time the creditor updates to the credit bureau.
Derogatory items age off your credit report 7-1/2 years from the date of first deficiency. The older the item, the less impact on your score.
Instead open up a new credit card account, if you don’t have any current active ones. You may have to get a secured account — you pay a deposit which is held as collateral against the line of credit. Use the card for small purchases and pay in full every month. You need at least 24 months of consistent, on-time payment history to start to improve your score.
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I am so sick of nay sayers who know nothing of what they speak. Yes there are some repair agencies that are bad, but it’s stupid to generalize a whole industry because of a few bad apples.
If you pick up a newspaper there is the good, the bad and the ugly in a lot of companies.
I’ve listed two that I’ve used and one that I own. All are reputable.
Yes you can restore your own credit, but some don’t have the time or patience to deal with the constant written correspondence that is needed to request disputes with the 3 bureaus.
At times it can be a pain to send the same data over and over to correct inaccurate data. THE BUREAUS ARE IN THE BUSINESS OF SELLING CREDIT INFORMATION….there is no money in the cure!!!!
Good luck to you
References :
Lexington Law, DSI Credit Repair and alphaomegacreditservices.vpweb.com
They work great! Thtat’s why so many people use them and have such great success with them.
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daveramsey.com
No, they do what you can do on your own and charge you a fee for it.
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That all depends on your situation.
Credit repair companies CANNOT remove accurate information from your credit report, so if that is what you are looking for, then you will be disappointed.
Credit repair companies (legitimate ones) CAN help you optimize your credit score by removing inaccurate information and help you maximize your positive credit accounts.
At the same time, much of this can be done on your own by researching the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, and knowing your rights.
You say that all of the negative items are old accounts. Chances are, they are not doing so much damage anymore. What is really hurting your score is the lack of positive credit accounts on your file.
Your future creditors will like to see a nice balance that shows proof that you can responsibly manage revolving (credit cards) and installment (loans) accounts. The best thing to do is pay on time every time and let the passing of time do the rest.
If you are in a hurry and would like to speak with a proven professional that is not after your wallet, check out http://www.thecreditinsiders.com. Or call 866-229-6233 to set up a time to review your specific situation over the phone prior to enrolling or paying any fees whatsoever.
If you like, when you contact The Credit Insiders, you can ask for Scott. That’s me, and I can go over any questions you have in a more private forum.
References :
http://www.thecreditinsiders.com
http://www.thecreditinsiders.com/services.html
http://www.thecreditinsiders.com/resources.html (a great place to learn how to do it yourself)