Credit Repair Services

I really would like to repair my own credit without having to pay someone.I recently enrolled into a service online that lets me see my credit scores from all three credit bureaus but what can I do from there.Do I need to remove all or just certain ones?Any advice would be very apreciated.

First, it would help to know what makes up your score:

1. Payment history- 35%
2. Total debt owed to avialable credit ratio-30%
3. Length of time establishing credit-15%
4. Types of credit established-10%
5. Inquiries and New accounts-10%

Now, with that out of the way, here’s your plan of attack.

First, you should open a checking and savings account if you haven’t already. This equips you with a means to pay bills and to manage your money. Also it establishes and develops a relationship between you and the bank which can help get loans and credit cards later down the line. Most banks offer online billpay which can be the most powerful tool in building credit.

You should arrange the negative items on your reports from least to greatest, most recent to oldest. The most recent items are having the biggest impact on your score. Items that are 5 years or older don’t have much of a negative impact anymore. The next 4 links I posted explain how you can negotiate paying off old items hopefully in exchange for getting them removed from your report altogether

http://www.creditinfocenter.com/debt/settle_debts.shtml

http://www.creditinfocenter.com/debt/neg_rating_after_settle.shtml

http://www.creditinfocenter.com/debt/CanCreditorSue4SettlementDifferences.shtml

http://www.creditinfocenter.com/debt/ActualDebtSuccesses.shtml

This is very effective in order to get rid of collection accounts for much less than had you just paid them off. If you’re successful in getting any if not all removed, then what you should do is open new accounts to replace the old ones.

Something that you should know is that anytime that you apply for credit, whether you’re approved or not, a "hard inquiry" is created which lowers your score. Since your score is low to begin with, it’s important to open accounts that you have a good chance of getting approved for. Secured credit cards are a good example of this. How it works is that a deposit which is used as collateral is placed upfront in order to establish a line of credit. For example, if you deposit $300, then you would get a credit card with a $300 credit line. The deposit isn’t used to repay the card unless it went to collections, so you would still have to pay a balance and a minimum payment just like a regular card. 2 benefits though to a secured card is that there is more control over the credit line, meaning that it can be increased by adding to the deposit. Also, the deposit is sometimes linked to a savings account which can gain interest while credit is established, so the deposit isn’t just sitting there. It helps to increase the credit limit as much as possible while it’s secured because the high limit helps the score by creating a cushion of available credit and the total debt that’s owed. A perfect way to use the card without going into debt would be to use it to pay for that monthly online credit monitoring service every month, and that’s it. Pay it off every month, and increase the credit line. This way credit is being built by showing activity, without having to go into debt while doing it. Usually after a year of paying the balance off every month, the card either converts to a regular card or a better card is offered, and most importantly the deposit is no longer needed and is given back to you. It’s a good chances that other offers for credit will start coming in, but my suggestion would be to repeat the process with another secured company. At least with a secured card, you can dictate what the credit limt is, and not the credit card company.

These are just a few tips on what to do to get you started in rebuidling your credit.

I posted links to some secured cards as well as some credit repair sites that I think will help!

I thank you for reading and good luck!

I a trying to build up and repair my credit score . Can someone give me some good advises on this?

You can use credit repair agency, for example this one – http://creditreport.undonet.com

They will clean lots of such bad stuff from your credit report – and do it much faster than yourself, so your credit will go up.

Is investing the money for credit repair wothwhile? Are the results satisfactory from an accredited repair service company? I am looking for first hand experience and reference from someone who has used an online credit repair service.

I have been to "many" different credit repair sites on the web. Some were pretty good and some were pretty bad. I refuse to use a website<!–that requires a fee to get their credit repair info when there is great free sites on the web.. I’m listing the best site that I’ve ever been to.

http://badcredits.awardspace.com/repaircredit.htm

It is a "free" do it yourself credit repair site. I have learned so much by reading and asking questions on that site. And, I have seen "significant" improvement on my credit reports after learning–>my rights and using them.Don’t pay for information that you can find for free.

I’d like to know of anyone who has actually used Lexington Law credit repair and of their experience. I’ve gotten mixed reviews on the company, so I’d like to hear from some actual users. Was it successful? How long did it take? Any problems? How was their communication/customer service? Do you get to talk to a real lawyer ever?

i used this company. i was with them about six months. to tell you the truth i did not see any different on my credit report. i spoke with a worker in the office when i signed up. i did not recieve any information in the mail , and i wasnt called to let me know if ther were any changes on my credit report. you have to have a checking accout so that they can take it out of your acccount every month. no coummuication at all with this company. i would not use this company again.

I am looking for a Credit Repair Co. that is a bit smaller then the rest of all the major companies out there since i want personalized service at a resonable price, people who can actually help. If anyone knows of such a company, i would appreciate the help. Thanks

Ok, this is what i can say, yes credit repair companies can only do what you can do yourself, but like myself there are many other people out there that dont have them time to go 10 times to the post office and send off letters to all credit bureaus and all creditors that are listed on a credit report, sure you can, but you can also fix your own car, mow your own lawn and home school your kids but you dont. Instead you decide to use a professional.

I went and obtained all 3 of my credit reports, and then i seeked a professional, i used www.fastcreditsolutions.net
They were super helpfull and explained to my what my credit problems were and by how much i should lower my revolving accounts by.

My results were awesome they deleted a bunch of old collections and some late payments on my car loan.

They are pretty cheap and have awesome customer service, you can contact them below.

Fast Credit Solutions
Phone#(702)541-8215

Credit is bad, can any one tell me if credit repair services really work.

Credit repair is a scam.

I quote from the 2007 edition of the consumer Action Handbook " A lot of credit repair companies advertise that they can erase bad credit for a heft fee. Don’t believe them. If the information is accurate, only time, hard work and a personal repayment plan will improve your credit score".

I am trying to start a credit repair company but I have not found a company to go through to pull credit. All the companies seem to only work with mortgage companies. HELP!

i agree with the poster above, why not have the clients pull their own accounts (they can do this for free three times a year).
Be ware however, that credit repair is a hard market to serve….most often they want YOU and your company to be magicians….
Is there another kind of business that you can run on the side…I really think that this business will be more trouble than it is worth.
With that said, I was of the impression that anyone can pull anyone’s credit with the subject’s permission. Work with a lawyer and have them create a consent form for you. I just checked my credit report and it was pulled LITERALLY 12 times in the past 7 months. 9 of these pulls were ’soft pulls’ meaning that I did not initiate any of them.
Saying that to say that there is a way. I just dont know what it is

I would like to learn how to do credit repair. Are there any certification programs? Any suggestions would be highly appreciated. Thank you.

spend some time on http://www.creditboards.com

It could literally change your life.

Knowledge is Power !

If your credit score is causing you to loose sleep and you are unable to get a loan from anyone, then now is the time to learn how to fix your credit score.   All lenders, especially those lending money for homes and cars, look at your credit rating when deciding if you are a risk they want to take.  Credit card companies also will not issue cards to bad credit risks.  That is why you need to take some steps to improve your credit rating before even considering applying for a loan or requesting a credit card.
The most important thing you can do is to come up with a budget so that you are living within your means.  The best way to do this is to keep track of what you are spending in one month and then cut down where you can.  Apply any extra money to pay down your credit card debt.  Get a free copy of your credit report from Equifax, Experian or Trans Union each year.  Review your credit report to make sure it is accurate and dispute any negative items that you don’t agree with.  Contact your creditors directly as soon as you know that you can’t make a required payment.  Most creditors would rather get small payments from you than get nothing at all.  Get any agreements you make with them in writing.
Additional steps you can take to learn how to fix your credit score are to quit using your credit cards immediately and cut them up!  Make at least the minimum payment on each card each month if at all possible.  Close no more than two credit card accounts every six months and close your oldest accounts last.  Pay off any debts that you can, starting by paying anything extra against the lowest outstanding balance.  Try to obtain a secured credit card where you are required to deposit a certain dollar amount as collateral.  Join your local credit union because you are more likely to be approved for a loan if you are a member.  Always pay your agreed upon payments on time and as promised.  Finally, avoid filing for bankruptcy if at all possible because it will show up on your credit report for 10 years.

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It is becoming more and more difficult for Americans to keep up with their bills and, as a result, their credit scores are suffering.  Good people who have never been late on a payment and who have always paid what they owe are out of work and simply don’t have the money to pay all the bills that are due each month.  These people are wondering if it is possible for them to get some type of fast credit repair so that they can start rebuilding their credit score.

In order for most people to buy a home, purchase a car or obtain a credit card, they must have a decent credit score.  That is why it is so important for them to know what their credit score is before even considering applying for a loan.  The credit score numbers are the key component that lenders look at when deciding whether to grant a loan.  Credit scores are easily obtainable by going to AnnualCreditReport.com, calling 877-322-8228 or requesting one from the Annual Credit Report Request Service at P.O. Box 105281, Atlanta, GA 30348-5281.

There are a few steps that a person can take to repair their credit quickly.  1.)  Pay down credit cards so that there is a large gap between the amount of credit being used and the actual credit limits.  2.)  Avoid excessive use of credit cards.  Limit spending to at the most 30% of the cards limit.  3.)  Make sure that the limit showing on cards is correct.  4.) Use oldest credit cards first to keep them active at the credit bureaus.  5.)  Attempt to get a late charge erased. 6.)  Dispute old charges showing at a credit bureau.  Small, old charges are sometimes ignored.   7.)  Correct things on the credit report such as late payments, collections and charge-offs that shouldn’t be there.  Make sure that unpaid accounts included in a bankruptcy are erased.  Verify that there is nothing older than 7 years (10 years for bankruptcy) on the credit report.  These are just a few steps that will put a person on the right road to fast credit repair.

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