19 replies to this topic

[FLYGAL]

Has anyone ever done a credit repair program? What was your experience? I want to know if it helps and is worth the money.

[3keepfaith]

Hope you get some answers. We've been tossing this around as well.
Do we just pay everything off when it RV's, or try to pay things out to repair our credit?
Can we acomplish this on our own?

[Markinsa]

Read this website. It has great advice!

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[FlintNPebbles]

Anything a "credit repair" company can do for you, you can do for yourself without paying someone to do it for you. Make sure you get a copy of your credit report from all 3 agencies and check them for accuracy and mistakes. If there are mistakes you need to contact them and fix them.
If things are accurate and you have a few *dings* then you may have to ride them out. The good news is that as long as you pay your accounts on time and don't accrue new debt your score will rise.

Now if your a looking for a way to consolidate debt and only make one payment rather than mulitiple then you may want to look at a non-profit credit counseling service. They can help by negotiating with your creditors and you pay the counseling service a payment each month and they will distribute it. They can't eliminate your debt or your interest but they can help you understand where you have gone wrong and how to improve your habits.

[3keepfaith]

Read this website. It has great advice!

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Markinsa....... You lost me. This a huge web site, and I've looked at a lot of it. Don't recall anything on this topic.

[Danan]

Anything a "credit repair" company can do for you, you can do for yourself without paying someone to do it for you. Make sure you get a copy of your credit report from all 3 agencies and check them for accuracy and mistakes. If there are mistakes you need to contact them and fix them.
If things are accurate and you have a few *dings* then you may have to ride them out. The good news is that as long as you pay your accounts on time and don't accrue new debt your score will rise.

Now if your a looking for a way to consolidate debt and only make one payment rather than mulitiple then you may want to look at a non-profit credit counseling service. They can help by negotiating with your creditors and you pay the counseling service a payment each month and they will distribute it. They can't eliminate your debt or your interest but they can help you understand where you have gone wrong and how to improve your habits.

I totally agree. If you go to each credit agency, they will have a way for you to disagree with what is there. The girl who worked for me was hurt and was going through a settlement. And even though her attorney was handling all her bills, they were still reported on her credit history. Even after they had been paid. So, first thing is to look at the reports. Second, in alot of cases, you can call the debtor and ask for a settlement. Most will settle for as little as 35% of what you owe. They just want money now.

[Markinsa]

Markinsa....... You lost me. This a huge web site, and I've looked at a lot of it. Don't recall anything on this topic.

It would help if I gave you the link to the website I was talking about!

http://www.creditinf...ter.com/repair/

The Debt, Bankruptcy, and Credit Card sections helped me a great deal when I was trying to repair my credit and get out from underneath all my credit card debt.

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[TexasGranny]

When we needed help, we used American Consumer Credit Counseling http://www.consumercredit.com/
All of our credit card bills were consolidated into one monthly payment, but the best part was that the
credit card companies had to lower our interest rates and could not charge any additional fees. The fee
charged by ACCC is minimal. It was also beneficial to our credit rating because the credit agencies
look at the ACCC help as beneficial and not negative.

[TonyDownTheShore]

Has anyone ever done a credit repair program? What was your experience? I want to know if it helps and is worth the money.

Years ago I used one and it helped me a lot, I had some stuff that followed me for a long time, the guy cleared it all up and helped me step by step to raise my credit score, you can do it your self but its a lot of work and it takes a lot of your time, if you use one just make sure you check him out first there's a lot of fly by out there, good luck.

[DoD]

FLYGAL, I can tell you that Lexington Law did a great job for me and it was well worth the money. I also agree with some of the posters that you can do this yourself. The only
problem with this method is, you have to do it yourself. I work overseas and do not have time, patience or the resources to send letters every week to the big 3 credit agencis.
They cleaned off stuff off my report that had my score bogged down from 15 years ago. It took nearly a year but they got my score back over 750. There are a lot of companies
out there that does this (don't want anyone to think I work for or am promoting this company) but can only tell you my experince. I tried doing it myself a long time ago but for
one reason or the next got side tracked and never followed through till the end.

[JDFINV]

Now if your a looking for a way to consolidate debt and only make one payment rather than mulitiple then you may want to look at a non-profit credit counseling service. They can help by negotiating with your creditors and you pay the counseling service a payment each month and they will distribute it. They can't eliminate your debt or your interest but they can help you understand where you have gone wrong and how to improve your habits.

I work for a Mortgage Lender, and just know that if you follow the above advice, that most lenders look at credit counseling (negotiating lower payments on owed debt) the same as Bankruptcy. The accounts that you negotiate for lesser money, will show up on your credit report with a note that credit counseling services were used.

[FLYGAL]

Thank you for your responses! We really don't have a lot of debt. Less than $1000 in credit cards and a $12,000 nightmare loan that we have been paying for 7 years at 23.99%. We want to refinance this loan but our credit is horrible due to a short sale and late payments. Because of our job situations and because we have been forced to move annually (we rent and don't own anymore) has taken a toll on our finances. We would like to buy again this year and need to improve that "magic number". Tired of living in other people's homes that don't maintain them!

Edited by FLYGAL, 16 February 2012 - 11:22 PM.

[FLYGAL]

FLYGAL, I can tell you that Lexington Law did a great job for me and it was well worth the money. I also agree with some of the posters that you can do this yourself. The only
problem with this method is, you have to do it yourself. I work overseas and do not have time, patience or the resources to send letters every week to the big 3 credit agencis.
They cleaned off stuff off my report that had my score bogged down from 15 years ago. It took nearly a year but they got my score back over 750. There are a lot of companies
out there that does this (don't want anyone to think I work for or am promoting this company) but can only tell you my experince. I tried doing it myself a long time ago but for
one reason or the next got side tracked and never followed through till the end.

Sorry DoD! Tried to give you a plus for raising your score, but negged. On my phone.

Edited by FLYGAL, 16 February 2012 - 11:33 PM.

[lomeygoat]

Hope you get some answers. We've been tossing this around as well.
Do we just pay everything off when it RV's, or try to pay things out to repair our credit?
Can we acomplish this on our own?

If it RVes a a good amount, (that we are all hoping it will), we will not have to worry about our credit as we will be paying cash for most things.

[lionfish]

It is always great, regardless of how much we RV at, to have good credit. Just pay off all outstanding debt, then buy into some secured credit cards. You will have to plan out 12 months of showing that you can pay back on time, and then convert these "secured" cards into unsecured credit cards!

I see a lot of credit bureaus for a living..and have heard some great stories of how some people who had the worst kind of scenarios(bankruptcy, charge offs, car repos..) did the secured credit as described and in a year pulled their mid 500 scores into the mid-600 scores..enough to finance cars and houses...

For it is worth..

-lionfish

[Shelley]

I got DOD for you + I'm so happy you brought this topic up, I myself am looking to change my credit score when this RV's . At the moment I'm working on 1 card at a time very slow process so come on RV

let me know if you find out anything really good

[rnolloth88]

FLYGAL, I can tell you that Lexington Law did a great job for me and it was well worth the money. I also agree with some of the posters that you can do this yourself. The only
problem with this method is, you have to do it yourself. I work overseas and do not have time, patience or the resources to send letters every week to the big 3 credit agencis.
They cleaned off stuff off my report that had my score bogged down from 15 years ago. It took nearly a year but they got my score back over 750. There are a lot of companies
out there that does this (don't want anyone to think I work for or am promoting this company) but can only tell you my experince. I tried doing it myself a long time ago but for
one reason or the next got side tracked and never followed through till the end.

I've been using the same company "Lexington Law" for four months now.So far they've gotten several negative thing removed from my and my wifes credit reports.So far so good costs me 200 a month for them to handle both of our reports.But they've gotten more done in 4 months than i was able to get done in 4 years.

[hbrill61]

Anything a "credit repair" company can do for you, you can do for yourself without paying someone to do it for you. Make sure you get a copy of your credit report from all 3 agencies and check them for accuracy and mistakes. If there are mistakes you need to contact them and fix them.
If things are accurate and you have a few *dings* then you may have to ride them out. The good news is that as long as you pay your accounts on time and don't accrue new debt your score will rise.

Now if your a looking for a way to consolidate debt and only make one payment rather than mulitiple then you may want to look at a non-profit credit counseling service. They can help by negotiating with your creditors and you pay the counseling service a payment each month and they will distribute it. They can't eliminate your debt or your interest but they can help you understand where you have gone wrong and how to improve your habits.

Good advice +1.

[cbisinger]

Has anyone ever done a credit repair program? What was your experience? I want to know if it helps and is worth the money.

how to discharge debt by fred and nina.flv

[WorkerBee]

It is always great, regardless of how much we RV at, to have good credit. Just pay off all outstanding debt, then buy into some secured credit cards. You will have to plan out 12 months of showing that you can pay back on time, and then convert these "secured" cards into unsecured credit cards!

I see a lot of credit bureaus for a living..and have heard some great stories of how some people who had the worst kind of scenarios(bankruptcy, charge offs, car repos..) did the secured credit as described and in a year pulled their mid 500 scores into the mid-600 scores..enough to finance cars and houses...

For it is worth..

-lionfish

Don't forget toadd auto debit. Most times, people have the money to make the pymt but just forget, with auto pay, it's on time every month.