cancel
Showing results for 
Search instead for 
Did you mean: 

Is it a waste to hire a credit repair company?

Highlighted
Frequent Contributor

Is it a waste to hire a credit repair company?

I’ve been working really hard to clean up both mine and my fiancé’s credit so we can buy a home this year. I’ve gotten a ton of collections removed, but I have hit a wall with LVNV/Resurgent. I have two collections with them, and he has one. All from charged off CreditOne cards. Dofd for each is in 2017 so they aren’t due to fall off any time soon. The debt is valid and LVNV has all the documentation to prove it.

I have sent numerous PFD letters and placed many calls with no success. I know once these are off our reports we will see a significant improvement. I am at the point where I will dish out however much money it takes to get them off our reports. Is there a credit repair company that can do this with LVNV or are we just screwed and have to wait it out? Our lender advised against paying it unless they agree to delete. That being said I am hesitant to pay and then take a shot at GW letters.
March 2018 - EX: 419 EQ: 456 TU: 423
February 2019 - EX: 537 EQ: 547 TU: 509
March 2019 - EX: 625 EQ: 555 TU: 579
April 2019 - EX: 640 EQ: 637 TU: 642

May 2020 - EX: 690 EQ: 688 TU: 700
10 REPLIES 10
Highlighted
Established Contributor

Re: Is it a waste to hire a credit repair company?

A credit repair company will do what your doing but charges you to do it.






Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


Take the myFICO Fitness Challenge




Message 2 of 11
Highlighted
Moderator

Re: Is it a waste to hire a credit repair company?

It would be a violation of this boards credit repair policies for anyone to recommend or advocate the use of such an agency. As stated all they are going to do is charge you for what you can do yourself.
Message 3 of 11
Highlighted
New Contributor

Re: Is it a waste to hire a credit repair company?

You can do it yourself.  I went from 500s to 700s in the last 12 months getting told things can't be removed over and over.  It just takes time, persistance, and patience.  It won't change over night and you may get tired and frustrated but gradually it will start working and it will pay off.  It's easier said than done but trust me...it works.

FICO8 Scores:
EX: 686 – 4/1/2019
TU: 708 – 4/1/2019
EQ: 712 – 4/1/2019



FICO9 Scores:
EX: 682 – 4/1/2019
TU: 710 – 4/1/2019
EQ: 729 – 4/1/2019


Message 4 of 11
Highlighted
New Contributor

Re: Is it a waste to hire a credit repair company?

I definitely would not recommend it. I foolishly hired a credit repair company. I did more in 2 days than they did in two months and $150 later. Major regret! 

Message 5 of 11
Highlighted
Regular Contributor

Re: Is it a waste to hire a credit repair company?

No it's a total waste of money that you could be spending paying down debt.  90% of credit problems can be fixed by reading through the posts here.

I asked my coworker who was swimming in debt before going through an agency to repair his credit.  He told me it was a waste of money and had he of known how easy it was to fix these things he wouldnn't have done it.

I think it's more for the lazy people that don't want to do the work.

Message 6 of 11
Highlighted
Super Contributor

Re: Is it a waste to hire a credit repair company?

Best credit repair company is right here on the forums. And its free! Start a thread and lists all the baddies and we can see what we can do to help you out.

Message 7 of 11
Highlighted
Frequent Contributor

Re: Is it a waste to hire a credit repair company?

With the help of this forum I have been able to take care of everything that could be done thus far, EXCEPT the LVNV/resurgent collections. I feel like I’ve done everything I can and have hit a brick wall. I guess I’m mostly just looking for any other things I can do before giving up on them.
March 2018 - EX: 419 EQ: 456 TU: 423
February 2019 - EX: 537 EQ: 547 TU: 509
March 2019 - EX: 625 EQ: 555 TU: 579
April 2019 - EX: 640 EQ: 637 TU: 642

May 2020 - EX: 690 EQ: 688 TU: 700
Message 8 of 11
Highlighted
Established Contributor

Re: Is it a waste to hire a credit repair company?

I had a past utility bill go to resurgent for collections. In my experience, they refused to work with me.

I eventually paid the balance they claimed I owed just to stop the monthly reporting of the collection account.

60 days after they reported the account paid in full, I disputed the account with all three CRA's (not my account/ validate debt). Resurgent didn't respond and the collection account was removed.

I'm not saying this will work for everyone, but it worked in this situation. Original debt was $138, resurgent wanted $241 (which is what I paid), maybe that's why they ignored validation after payment?
Starting Score: EQ:608, EX:617, TU:625
Score 10/2018: EQ:669, EX:686, TU:668
Score 11/17/2018: EQ:682, EX:681, TU:683
Current Score 3/11/2020: EQ:695, EX:703, TU:720
12/24/2018 -- EQ Beacon 5.0: 678, EX Fico II: 690, TU Fico Classic 04: 716

Goal Score: 740+


Take the myFICO Fitness Challenge

Discover IT $1000Cabelas Clasic $1000Coscto Anywhere Signature Visa -Citi- $7200ExxonMobil Smartcard -Citi- $2500Playstation Visa (Comenity) $1950QuickSilver One $2200Walmart $6000Wells Fargo Platinum Visa $3000

Member of the Synchrony Bank giveth then Taketh away April 2020 Club! $86,900 in available credit gone without warning.

Newest Account July 8, 2020 -- Last HP October 24, 2020 -- Gardening Goal:
August 2022 and reach 0/24
Message 9 of 11
Highlighted
New Contributor

Re: Is it a waste to hire a credit repair company?


@USER1056689 wrote:

You can do it yourself.  I went from 500s to 700s in the last 12 months getting told things can't be removed over and over.  It just takes time, persistance, and patience.  It won't change over night and you may get tired and frustrated but gradually it will start working and it will pay off.  It's easier said than done but trust me...it works.


What specifically did you do to get the stubborn ones removed?  I have a medical one that won't give up, no mater what I do it seems, and they have a policy against PFD. 

Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.