Legitimate Credit Repair & Credit Building Companies

[bigpoppa1]

Are there any legitimate credit repair and credit building companies?

Have you used them and how were the results?

[Horseshoez]

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@bigpoppa1 wrote:

Are there any legitimate credit repair and credit building companies?

Have you used them and how were the results?

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I would argue no, there are not any legitimate companies out there.  That said, you can get some guidance by looking at this thread and decide for yourself: https://ficoforums.myfico.com/t5/Bankruptcy/How-to-Select-a-Legitimate-Credit-Counseling-Agency/td-p...

[markbeiser]

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@Horseshoez wrote:

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@bigpoppa1 wrote:

Are there any legitimate credit repair and credit building companies?

Have you used them and how were the results?

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I would argue no, there are not any legitimate companies out there.  That said, you can get some guidance by looking at this thread and decide for yourself: https://ficoforums.myfico.com/t5/Bankruptcy/How-to-Select-a-Legitimate-Credit-Counseling-Agency/td-p...

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Yeap, the two most common outcomes of using "credit repair" services are either getting strung along paying fees for an extended period for someone to do what you could do yourself for free, with faster results, or paying fees for the complete ruination of your credit, with you left deeper in the hole than you started.
The later appears to be more common than the former...

[CreditCuriosity]

No.  Everything they can do you can do better and for free.  Just takes time.

[sch4479]

I've personally never used a credit repair service, but I've heard some success stories from friends who have. The key is to do your research and look for reputable companies with good reviews and transparent practices. There are definitely some scammers out there, so be cautious. Also, remember that some things they claim to do, you can do yourself for free, like disputing errors on your credit report. So weigh the costs and benefits before diving in. If anyone has specific recommendations, I'd love to hear them too! 

[CreditCuriosity]

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@sch4479 wrote:

I've personally never used a credit repair service, but I've heard some success stories from friends who have. The key is to do your research and look for reputable companies with good reviews and transparent practices. There are definitely some scammers out there, so be cautious. Also, remember that some things they claim to do, you can do yourself for free, like disputing errors on your credit report. So weigh the costs and benefits before diving in. If anyone has specific recommendations, I'd love to hear them too! 

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everything they do you can do yourself.  They claim to have lawyers and use them.  They don't and just use their names to make $.  usually they do more harm than good.  Although lazy people might find benefit from them.  Once again everything they can do you can do for free and there is no such thing as credit repair.  Time is your best best friend for credit repairing and hopefully a bit of luck on good willls and paying for deletes and the likes.  Sorry even if you paid a company 10k to fix your credit that isn't the silver bullet they promise.

[Horseshoez]

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@sch4479 wrote:

I've personally never used a credit repair service, but I've heard some success stories from friends who have. The key is to do your research and look for reputable companies with good reviews and transparent practices. There are definitely some scammers out there, so be cautious. Also, remember that some things they claim to do, you can do yourself for free, like disputing errors on your credit report. So weigh the costs and benefits before diving in. If anyone has specific recommendations, I'd love to hear them too! 

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I have to call shenanigans on your "friends" who have had success with credit repair firms.  As for the "good reviews" one might look for, yeah, about that; I'd lay odds 10 out of 10 good reviews were self generated by the firm.

[RobertJ]

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@CreditCuriosity wrote:

No.  Everything they can do you can do better and for free.  Just takes time.

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 ...and more importantly effort!  Too many people want it to be easy or want to let someone else handle it.  These companies are for profit, and will just take more of your money that you could be using to pay down debt.