topic Re: Reputable credit repair company? in Rebuilding Your Credit

Reputable credit repair company?

HighGoals — Fri, 27 Dec 2019 03:45:23 GMT

I am looking for a reputable credit repair company to work on my credit. I know that so can do everything they can do but I would rather leave it to them and it would save me a lot of time that I honestly do not have.

Can anyone tell me of any companies that actually work?

Re: Reputable credit repair company?

Anonymous — Fri, 27 Dec 2019 04:04:32 GMT

I’m not sure that there are any.

What kind of “repair” are you looking to do? Unfortunately, there is no magic company that can get rid of legitimate derogatory marks on a credit report. Most of these companies just start disputing stuff, and while some of the derogatory accounts may disappear during this dispute process, they simply show back up later.

Honestly, if you have extra $$ to throw around, use it to pay off any debts you may have and make some actual progress on cleaning up your reports.

Re: Reputable credit repair company?

KJinNC — Fri, 27 Dec 2019 04:08:08 GMT

Board rules restrict what we can say about credit repair companies here (except saying that they don't work is ok I guess). Bear in mind that this board is owned by the company behind FICO scoring. I would look elsewhere for this information. Good luck!

Re: Reputable credit repair company?

thornback — Fri, 27 Dec 2019 04:13:18 GMT

Per forum guidelines:

https://ficoforums.myfico.com/t5/User-Guidelines-General/FICO-FORUMS-CREDIT-REPAIR-DISCUSSION-GUIDELINES/td-p/7261

Should you decide in the future to forgo spending your money on a "credit repair co." and do the work yourself, we'll be happy to assist. Good luck!!

Re: Reputable credit repair company?

Jnbmom — Fri, 27 Dec 2019 04:21:01 GMT

"Credit repair company" and reputable doesn't belong in the same sentence. You can do this yourself , and yes i takes some time but it is well worth it.

Re: Reputable credit repair company?

Medic981 — Fri, 27 Dec 2019 04:34:07 GMT

OP, as you have noted, there is nothing, absolutely nothing, that a "credit repair company" can do that you can't do for yourself.

Perhaps you don't want to spend the time to improve your credit yourself. However, when you work on repairing your own credit report and learn the ins and outs of what makes credit work you be less likely to make the mistakes that got you where you are today.

This forum is full of individuals who have experienced what you are going through and are eager and willing to help you at no cost to you. Take advantage of the collective wisdom of this forum and you will be in a better position financially for it.

Remember, Rome wasn't built in a day and neither will repairing your credit. Any "credit repair company" promising you such isn't to be trusted in the first place.

You can do this! Welcome to the MyFICO Forums!

Re: Reputable credit repair company?

AllZero — Fri, 27 Dec 2019 04:43:52 GMT

Any money spent on said credit repair company would be better applied to any debt owed.

There's alot of success stories here. Many members willing to provide free advise unless you want to pay us with kudos which we'll happily accept.

Re: Reputable credit repair company?

OmarGB9 — Fri, 27 Dec 2019 21:31:56 GMT

As everyone has said, there is no such thing as a "reputable" credit repair company, and even if there was, it isn't allowed to be discussed on here. You may not have the time/want to invest the time, but I think it'd be well worth it to MAKE time to fix your credit, because to be honest, those companies could end up hurting your credit more than helping it. Not only that, but they purposely drag their feet on providing their "services" every month in order to keep collecting a fee from you.

Re: Reputable credit repair company?

silver_idle — Fri, 27 Dec 2019 21:28:05 GMT

Dont bother with any "credit repair" company. To me, I feel they are just a rip off. You can do all that yourself for free and would likely get faster (and likely better) results than if you used one. Furthermore, if you have the money, just work on paying your debt (if any), including doing PFD (Pay for deletion), settlements, etc., submit GW letters to creditors and CA for them to do adjustments, removal, etc. Its better than wasting money on these companies when you could use that money on yourself. You also have this forum that has great advice on what you can do, what not to do, and how you can proceed to rebuild your credit and really be able to get an understanding of how credit really works (which these "credit repair" companies usually fail to educate their clients about credit).

Re: Reputable credit repair company?

glockrunner — Sat, 28 Dec 2019 00:49:12 GMT

Please take my advice and what others have said. I am one of the idiots that thought a CR company can do better then me. It was a total waste of time and money that I will regret for a long time. Wasted 9 months and $$$. I actually got more removed myself in 2 disputes than 2 companies did in 6. And the 2 that were removed during their disputes were only because the CRA deleted for Early Exclusion.
Save your money and time! listen to the great people on this board for advise.
I would be a lot further along doing things myself. Most disputes will ALWAYS come back verified without anything changing. I know, I've seen it for a long time. I think my scores stalled due to disputing. Be careful. Maybe GW letters will get more results. Good Luck!

Re: Reputable credit repair company?

Chestnut1 — Fri, 27 Dec 2019 23:47:05 GMT

I understand where you are coming from. You may think that they have the 'Expertise" to make your credit reports turn green magically. Atleast, that is what i thought. Before even jumping on with a Credit Repair company, I did a lot of research on these Credit "Repair" companies and came to a conclusion that its better i work and clean my Credit file myself. Trust me on this, When you do it yourself, the rewards are a lot satisfactory and 100% times those results are legitimate too because you know that you tackled those badies in the RIGHT WAY and got rid of them. Also, as someone said above, during this due course you will LEARN A LOT which will prepare you for the future.

Lets say you leave it to the Credit Repair companies and they do fix your file (which i doubt if those Items on your file are legitimate), you will end up making same mistakes in the future and will again go back to Credit repair companies. Its a Vicious Cycle.

So, Save your money and rather use it to pay off your debt. Start spending atleast an hour a day (i spend a min 2 hours) on this forum reading, learning and applying the techniques. You will eventually, Learn, Clean and Grow.

P.S : People on this group are no credit "repair" experts and they are not legal advisors too. Each one of us share our personal stories and help each other.

Re: Reputable credit repair company?

Remedios — Sat, 28 Dec 2019 17:49:36 GMT

There is no *Credit repair company*, there is only *Do some disputes and ruin your credit further* companies.
While TOS does prohibit promotion of those entities, my reasons for disliking them is simply because it wont work, and you'll be out of the money.
The only way to repair credit is time and staying free of future negatives.
There are many ways to work on past negatives without resorting to shady practices and shady companies.

There is always someone for whom it worked, but for majority it results in disaster.
Kinda like 100 people getting hit by 100 different buses. A few may survive, others...not so much, except they are not around to tell their story.

Another thing to consider, if there was a sure way to repair credit, how many people would have bad credit?

You're free to do as you please, and forum will still be here for those who go down that road and end up back here, where real work and future success starts.

Re: Reputable credit repair company?

RSX — Sat, 28 Dec 2019 17:59:32 GMT

I will add one more thing to this

the worst I have heard that some of these companies do is to tell you to suspend all payments, and then they wait and negotiate for settlements

the problem with this is, that you may not have any late payments now, and if you follow that advice, you will have multiple late payments that stay on your records for 7 years. Long after that service is being used by you.

read this site once a day. See what people post in the Rebuild section. Decide if you want to post your details and get some free direction. Then you can make a better decision on which path to take.

Re: Reputable credit repair company?

Bandit5160 — Mon, 30 Dec 2019 10:29:11 GMT

I once lost my job then ended up foolishly living on credit cards and acting like credit was free money to go out and have a good time on and sort of "drown my sorrows" out. What can I say, I was young and stupid at the time. Any way i ended up with over $90K in credit card debt- just wrap your head around that figure a minute. I tried a "credit repair" company that send me a postcard and promised to make everything alright again for me. Just as someone else pointed out, they told me to stop making payment to my creditors at all. That I was going to make payments to them now and they would settle with my creditors for me. Well, all that got me was collection calls that hounded me day and night and growing misery- but no real dent in my debt. I eventually declared bankruptcy and started over. In the end, it was the only real choice that I had. It took a long time, but I dug myself out after that bankruptcy and slowly started to rebuild my credit again. I borrowed some money from my parents, went to tech and learned a trade. I then started getting contractor jobs in nuclear power. I repaid my folks and then started out with subprime lenders like Merrick Bank, Credit One, First Premiere- they gave me cards with low credit limits and high APRs and annual fees. But I used these cards responsibly and paid them off monthly. Slowly things got better. Time heals credit wounds, Slowly but surely derogatory stuff started coming off my credit reports and then eventually my bankruptcy itself came off. Oh, and I also worked hard at my jobs to build me a better rep and get higher pay and better opportunities. Now my life is pretty good. Making about 75-80K a year, and now have over 100K in available credit. Only thiis time I use my credit responsibly and pay most of it off every month. It took MANY YEARS to get here. But my advice is instead of falling for a credit repair scam as I did, consider starting over with a bankruptcy. It is a much better option. Then begin the long slow painful process of getting back on track.

Re: Reputable credit repair company?

HighGoals — Mon, 30 Dec 2019 13:41:21 GMT

Thanks guys