Credit Repair Organizations

[EW8000]

Hi,  

I was just wondering if anyone has any experience with credit repair companies, or know how they typically work.  I am refering to companies such as creditrepair.com, Lexington Law, Sky Blue and others.  From what I am reading, it sound like there method is to challenge the validity of baddies, I assume in hopes that they cannot be validated and then are removed.  Would this corerct?  

I am just wondering if anyone has ever had any good experiences with these types of companies?

Thanks!  

[polno1234]

if you don't have the 5 mins to do it youself and are willing to pay exorbatant fees. then good to go. they have no better success rate than these forums do. i would say less success cause i dont think they write gw letters for you. they basically just keep disputing on your behalf. opinions very though and there are a few who have had success with them. do a search on here for lexington law. it will pop up.

[RobertEG]

In general, they dont usually offer much in the way of disputing, they usually offer sending out a barrage of GW letters.

In order to file a valid dispute, they must include documentation of an asserted inaccuracy of the information under dispute.

A dispute cannot simply state that validation is requested, and thus shift the burden to the furnisher.

That basis must come from the consumer.  Once you have provided that, it is just as simple to file the dispute yourself.

Additionally, credit repair organizations cannot use the direct dispute process.  They are barred from the direct dispute process under FCRA 623(a)(8), and the implementing rules for the direct dispute process additionally permit the furnisher to summarily dismiss any direct dispute that shows any indication of assistance in its preparation by a CRO.  That includes smply using a form provided by a CRO.

[myjourney]

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@RobertEG wrote:

In general, they dont usually offer much in the way of disputing, they usually offer sending out a barrage of GW letters.

In order to file a valid dispute, they must include documentation of an asserted inaccuracy of the information under dispute.

A dispute cannot simply state that validation is requested, and thus shift the burden to the furnisher.

That basis must come from the consumer.  Once you have provided that, it is just as simple to file the dispute yourself.

Additionally, credit repair organizations cannot use the direct dispute process.  They are barred from the direct dispute process under FCRA 623(a)(8), and the implementing rules for the direct dispute process additionally permit the furnisher to summarily dismiss any direct dispute that shows any indication of assistance in its preparation by a CRO.  That includes smply using a form provided by a CRO.

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+1 RobertEG

What they can't do (credit rep org)

You can do for yourself free here 

[polno1234]

i apologize for having it backwards anyway still worthless imho.someone should make a stickie for this since it comes up once a week.

[joeyoey]

I've only seriously been at this about 2 months but just with letters/calls to old creditors and disputes I've managed to get my scores up about 40 points so far.  I still have a long way to go but from what I've read here & elsewhere, there's not much of anything these credit repair places can do that you can't do for yourself.  Set aside a little time each week for writing letters & keep a close check on your reports and you'll do just as good (& probably better) than these places.

[Sonic98]

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@EW8000 wrote:

Hi,  

I was just wondering if anyone has any experience with credit repair companies, or know how they typically work.  I am refering to companies such as creditrepair.com, Lexington Law, Sky Blue and others.  From what I am reading, it sound like there method is to challenge the validity of baddies, I assume in hopes that they cannot be validated and then are removed.  Would this corerct?  

I am just wondering if anyone has ever had any good experiences with these types of companies?

Thanks!  

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I've seen some people have some success with Sky Blue. I was hoping people had some stories on some of the others. I found a list, but most people here haven't used them. I trust people's accounts here more than on other websites. Here is the list, but like I said, other than Sky Blue, I've never spoken to anyone else on here about the companies. I think a lot of people have said that Lexington is somewhat of a mixed bag. I remember one told me once they knew a "trick" to help  get my student loans off with I had been late on a handful of times, but I didn't want to risk wasting money.

MODCUT to remove links to credit repair sites.