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Credit Repair Services

Alphabetical
Established Member

Credit Repair Services

Hello all, a Realtor I worked with recently to try to get approved for a mortgage referred to a third party credit repair service.   The company has terrible reviews online, so I've decided to not go with them. Would like to know if there are any truly reputable credit repair services out there (who will truly go to bat for you with negative items, not just settle them).   Or is it better to just try to do this myself?   Any good guides out there on how to do this youself?

Message 1 of 28
27 REPLIES 27
StartingOver10
Moderator Emerita

Re: Credit Repair Services


@Alphabetical wrote:

Hello all, a Realtor I worked with recently to try to get approved for a mortgage referred to a third party credit repair service.   The company has terrible reviews online, so I've decided to not go with them. Would like to know if there are any truly reputable credit repair services out there (who will truly go to bat for you with negative items, not just settle them).   Or is it better to just try to do this myself?   Any good guides out there on how to do this youself?


Welcome to MyFICO! Smiley Happy

 

It is far better to do this yourself and the guides are right here on MyFICO in the Rebuilding your credit section where you made this post. 

 

I am one of those people that like to hire others for a specific task, but it doesn't work well in the credit rebuilding world. This is one of those things that if you do it yourself, not only do you repair what is wrong, but you learn the ropes for the future to prevent future wrongs.  Win-win. 

 

Don't forget to read the stickies at the top of this section and the other MyFICO subforums. There is a wealth of information right in the stickies. Naturally, post your questions too for detailed, specific responses about your situation. 

Message 2 of 28
Gemini101
Valued Contributor

Re: Credit Repair Services

This is a catch-22
While, I agree that optimally one should educate themselves and be involved in their own rescue, no doubt.

However, having requisite skill and patience and attention to follow through and detail can NOT be overlooked or overstated.

It's like TELLING someone that they "can" lose weight w/o a trainer or professional help and the "best" way is this or that

When the God's honest TRUTH is it really depends on the person, some ppl are gonna need additional help.

Let's face it many ppl wouldn't be fat or have bad credit, bad spending and debt management issues in the 1st place if they could just READ what to do

It's not like it's the dark ages and info was kept hidden away from ppl ...
I have worked with thousands of clients over the years INFORMATION wasn't the problem

ACTING on the information was the problem and constantly will be the issue for most ....That's why ppl have coaches, trainers and do things in groups because it helps more human beings to DO
Vs talk, pray, hope and wish

I don't think provide paid Credit Repair services anymore but back when I did, it wasn't all about ME and what my company did

Yes, knowledge and experience helps as with anything but the reason ppl would show BACK up needing to consolidate debt yet AGAIN in the not so future was because of whom they were and who they hadn't become.

That's more so why you have to be involved in your own recovery because if you don't learn and commit to change months later....
You'll still be who the credit score thought you were
*Might as well get your crown ala Dennis Green😁

Anyway, to be FAIR to the company you mentioned (again I have no idea, who they are and don't care) many, many times one has to consider the audience when looking at reviews, especially in that business

Generally speaking one is dealing g with a majority of ppl with less than desirable discipline, an over since of enlightenment and a lot of Hail Mary "wants" based in insanity...

No offense but bill paying good credit ppl in general have better expectations and live in a rational place far more often than non bill paying horrible credit ppl who just WANT it now, fast and in a hurry

Many of 'those' ppl are the quick to complain, expect miracle types, 1st to yell scam when things don't go there way fast enough, ppl has a group who don't know what a stamp taste like but know it all
And don't let them actually SPEND any money w/o Jesus showing up and moving mountains and turning water to wine😂

Just saying be mindful of who the 'protesters' are when dealing with repair shops....

There is no winning in that business, because either the reviews are fake or the loudest criers get heard.

Now,I just help ppl for Free because folks can never pay you value and others devalue what you actually do ...It's like being a parent...There is no way to truly value the gig, at the same time the gig is devalued as no big deal, as in nothing to it, OK really?
Knock yourself out

No absolutes, is my point

Ppl tell me all the time, I could do my own brakes and do whatever to my own website
But truth be told....NO I CAN'T

And it won't be done as well as the guy
And I won't pay enough attention to get it done correctly in the future, so I just go ahead and pay da man

*Again, I think ppl SHOULD get more involved and committed to learning and gain command with regards to their credit and taxes but ppl also better be god darn HONEST with the effort and attention or it's just wishful thinking!
Message 3 of 28
workingfor850
Valued Contributor

Re: Credit Repair Services

I think the question isnt using a service versus not for many it is what service to use.  Having said that I did all of my stuff and my wifes myself.  I don't think it takes much skill but it take perserverance and patience.  With the CFPB these days you have far more leverage than just a few years ago.  One thing you have to consider is the value of your time and frustration. 

Message 4 of 28
rmduhon
Valued Contributor

Re: Credit Repair Services

Exactly. I could easily change the oil in my truck but I pay to have it done for my convenience. To a certain extent, it's the same thing.
Message 5 of 28
RobertEG
Legendary Contributor

Re: Credit Repair Services

One factor could be whether or not you wish to use the direct dispute process (FCRA 623(a)(8)) to address any disputes, rather than going through a CRA.

Using the direct dispute process removes any possibility of the CRA not forwarding all your relevant documentation or arguments to the creditor or debt collector.

 

Credit repair organizations are explicitly excluded from participation, even by providing forms for consumer use, in direct disputes.

Message 6 of 28
nupey10
Regular Contributor

Re: Credit Repair Services

I used a CRA for about 2 yrs.  I'm glad I did because I would not have had the patience it takes to send out as many letters as was needed for my situation.  Yours may be different.  In that time though I was constantly on this forum and others reading and gaining very valuable knowledge.  Knowledge not just on credit repair, but on building credit AND probably most important to me now, MAINTAINING what I been able to overcome.   I've still have some repair that I am doing on my own now, but I've come from the lower/mid 500s to 720s and from what I learned here from these Vets,  I am NOT going back there again.  So, again my situation was I needed a lot of repair.  More than I was going to/wanted  to do on my own.  Research other's experience and see it your situation warrants it or if its something you know you can do yourself.

Message 7 of 28
Kjohn1
Regular Contributor

Re: Credit Repair Services


@rmduhon wrote:
Exactly. I could easily change the oil in my truck but I pay to have it done for my convenience. To a certain extent, it's the same thing.

Perfect way of framing the 'pro' argument. There are hundreds (or more) of things we pay someone else to do every year, even though we could learn how to do it, and handle it ourselves; or we might even already know how, but choose to hire someone else for the sake of convenience, brevity, or skill level.

 

I've been considering going the professional agency route myself, but there are a ton of them out there; most with quite contradictory reviews. I'd like to here from some actual, established myFICO folks who've used an agency. 

 

Does anyone have any experiences they'd like to share?

Message 8 of 28
rmduhon
Valued Contributor

Re: Credit Repair Services

I didn't use a repair company because between me, hubby, and my mom we only had about 12 derogatory items combined and I don't give out that kind of information very often. But a friend used LL and got some stuff removed but they came back a few months later.
Message 9 of 28
Gemini101
Valued Contributor

Re: Credit Repair Services

Here's where the situation gets CONFUSING...

What does one really mean by 'repair'?
Unfortunately, the term has been bastardize to mean LESS than it likely should

LL basically is a 'dispute' mill, period and for most ppl repair=disputes, end of story

I see disputes as possibly a PART of repair, which in turn is PART of what needs to be addressed and taken into consideration when one is repairing/restoring/rebuilding and enhancing their credit and financial profile.....otherwise it's just spitting in the ocean.

That's not to say there is anything "wrong" with the 'disputers' of the world, I just wish they and the public would just understand that simply disputing should NOT be promoted as 'repairing' because it gives a very narrow view/idea of what may need to be addressed to actually repair.

It's like not dividing up what a law firm may have to do to resolve your issue...ok LL showed up and handled the dispute letter part of your case = the arraignment

But what if more is needed???

The more has nothing to do with the services rendered by LL...they only offer X level of service anything beyond that you're in the wrong line.

Jiffy Lube isn't the same​ mechanic but many treated as if that's ALL that's required....same thing with dispute only companies

Sure a oil n lube job are very important BASIC maintenance stuff, which 'may' actually be enough to set you on your way but don't mistake that activity as an actual 'repair'......

My point being too often ppl self diagnosis themselves, prescribe their own medicine and declare themselves cured based only on their sometimes limited definition of being 'restored' to good financial health #dangerous
Message 10 of 28
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