Lost the Faith ...

[Anonymous]

I have two positive accounts reporting:

a secured loan from Eagle Federal Credit Union - $300.00 ($26.00 a month)

a finger hut account with a credit line of $230.00

The credit repair agency has a good rep, but do you think I could get rid of majority of the items myself? 

[Anonymous]

---

@Anonymous wrote:

I have two positive accounts reporting:

a secured loan from Eagle Federal Credit Union - $300.00 ($26.00 a month)

a finger hut account with a credit line of $230.00

The credit repair agency has a good rep, but do you think I could get rid of majority of the items myself? 

---

There is no real reason you can't.  In fact, after reading this board for a few weeks, you can probably do it more effectively than they can. For one thing, they can't write a GW request that is personal and heartwrenching, explaining your situation in a thoughtful manner designed to elicit sympathy. All they can really do is send cookie cutter form letters and disputes. While they will often get what appears to be good results quickly, they tend to draw out the process for as long as possible. It also is not unusual to find removed items re-inserted months later, after they are done and gone - along with hundreds of dollars of your hard-earned money.

Search these boards for "lexington law" and read the extensive threads on how the credit repair agencies operate, and what their legal limitations are..

[huck1081]

Here is how I look at it for myself. I figured that I got myself into this situation through gross negligence. It did not happen overnight, it was me convincing myself that I did not care about the outcome. Fast forward, I now see what I did and how it hurt my family's financial well being. The forums have been an excellent resource for my rebuilding journey. The stories and advice on here are real, things that did and did not work. Personally I find much more satisfaction climbing out of this hole on my own, with help from others. Plus, the money not paid in fees can be used to pay the debts you owe.

Have patience with this journey. The reward will be great!!

[Anonymous]

Thank you! I will just pay the debts off and gw em every week til they agree to delete!

[MarineVietVet]

---

@Anonymous wrote:

I have two positive accounts reporting:

a secured loan from Eagle Federal Credit Union - $300.00 ($26.00 a month)

a finger hut account with a credit line of $230.00

The credit repair agency has a good rep, but do you think I could get rid of majority of the items myself? 

---

None of these companies can do anything you can't do yourself.

Plus they have no incentive to move quickly. The longer they take the more money they get from you.

[Anonymous]

What do you suggest I do? All I have left is 4 negative accounts and 2 positive ones ...

[MarineVietVet]

---

@Anonymous wrote:
What do you suggest I do? All I have left is 4 negative accounts and 2 positive ones ...

---

Unfortunately you have very few options. You can continue to try the PFD route or pay them and ask for GW adjustments. But paying a collection will not help your score. A collection is scored the same whether paid or not. One plus side of paying these though is you will no longer be contacted in an attempt to collect. That is definitely a good thing.

Collections can report for up to 7.5 years from the DoFD.  The recency of any negative item is one of the most heavily weighted factors within the most heavily weighted category of scoring — payment history — amounting to 35 percent of your score. The longer the time since the negative the less impact it will have, and the higher your score will go.

These are all pretty recent and the combination of several reporting at the same time hurts more than just a single negative.

[Anonymous]

Ok, thanks. I'll continue to seek success in PFDs and GWs!

[emd0007]

You're not alone. It's one of the most frusturating processes a person can go through. And once you really get involved with it, you realize how much power these credit bureaus have over your life and it's terrifying. As far as the credit repair goes, I pay for it as well, despite the fact that I can do the same stuff. Just not something I want to waste time with, so I think that comes down to personal preference. If I knew 6 6 months ago what I know now, I would have filed for bankruptcy and been way ahead of where I am now both financially and credit scoring wise. Crazy how it all works.

[Imperfectfuture]

---

@emd0007 wrote:

You're not alone. It's one of the most frusturating processes a person can go through. And once you really get involved with it, you realize how much power these credit bureaus have over your life and it's terrifying. As far as the credit repair goes, I pay for it as well, despite the fact that I can do the same stuff. Just not something I want to waste time with, so I think that comes down to personal preference. If I knew 6 6 months ago what I know now, I would have filed for bankruptcy and been way ahead of where I am now both financially and credit scoring wise. Crazy how it all works.

---

If you don't use credit for awhile, they don't have any power.

Paying for credit repair, then not learning the lessons of this forum (as evidenced in your hatred of Amex post), you are NOT DOING YOURSELF ANY FAVORS.