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| *Loan,banking and credit>>>credit repair |
How do you do credit repair yourself? |
I have very poor credit, and as you know it is limiting me from getting home loans, credit cards, car loans, etc. I would like to repair my credit myself if this is possible. I have reviewed my credit reports, and I have noticed that I have several collections, and numerous closed accounts that are potentially negative, can these be deleted? I have heard from several people that you can not have collections and closed accounts removed. My credit score is in the low 550's and I would like to raise it some so I can apply for a home loan later on in the future. I recommend credit repair unless you have lots of time and a high tolerance for aggravation. Some things are better left to the professionals. Usually companies charge hundreds of dollars to simply pull your credit and send correctly worded dispute letters鈥攖his is the key鈥?.people will tell you that you can do this yourself for free but the truth of the matter is that the credit bureaus will throw your letters away or simply reject them. There is an easy to use online kit that will deliver the results you want available for just $19.95 at the source website. A similar kit is being sold via infomercials and radio talk shows for seventy dollars more but they try to solicit you repeatedly for other services after the fact. Source(s): www.creditrepair101site.com If they are reporting incorrectly, you do have a legal right to dispute them. If they are not corrected in the time allowed, legally they are supposed to be removed. You can do it yourself, many people do. It does take some time though and much reading. There are a few good free credit discussion boards where you can find the info and receive feedback on questions. Since there are great discussion boards that are totally free, never use a site that requires payment for info !!! You might click on my profile and click on some of the FTC sites I have listed - the FDCPA, FCRA, etc. Also check out the last site I have listed get a pre paid credit card. i cant remember the name of the one that i had gotten, but it allowed me to put money on it to use, and it reported it to the credit agency's. that was the only way that i was able to do it. my credit was damaged and i gotten one of those with my tax refund. the downfall is that they usually charge a monthly fee, but i think that it is well worth it. first of all great job you know your credit score..now you need to fix it...call those companies that you are in bad standing with and ask them if they can cut what you owe in half instead of just putting a charge off on your credit report..if you cannot get any help thru the actual company then you need to consilidate all your collections and past due bills thru a company such as genuis..and start paying them off..if you keep an account open and its in bad standing its better than closing the account because the only thing a closed account holder has to report is the fact you didnt pay your bill for the last two years where as if you left it open...it would show you have started to pay it off..good luck..dont try to run from your bills..you know they are yours..now pay them off...in the long run thats how you repair your credit..live within your means and cut all the plastic credit cards up First I'm going to tell you about the "credit repair" offers you get - which are a scam. Then tell you the best way to repair yourself (true credit repair is paying things off and bringing stuff current). Credit repair places charge you money - hundreds of dollars - and all they do is dispute everything. What happens is that they send these dispute letters to the credit bureau, who in turn send a verification letter to your creditors, who in turn verify the information is correct, who in turn send it back to the credit bureau so they keep it on your credit report. So you end up paying hundreds of dollars for nothing - legitimate items stay on your credit report and don't just disappear. They'll swear up and down it can be done so you pay them but it's a scam. You can pay off a bill with that money instead. The best way to repair your credit is to just dig yourself out of the hole you are in. If you have collections, just concentrate on paying them off one at a time. Closed accounts in themselves are not bad - but the past dues are. I'm assuming they were closed because of late payments - that's what is bad. If they are charged off, that's worse yet. Now depending on how bad the closed accounts are - if those are charged off you can also pay those off one at a time. If they are not charged off but just past due, bring them current then keep making current payments (more than the minimum is better). You can also try calling them and seeing if they'll knock off interest - tell them you want to pay but the interest is keeping you from getting anywhere. Some will lower or knock off the interest to help you get it paid. They'd prefer you pay. But it depends on the bank. Making payments as agreed will be good. If you make payment arrangements, some will put that on your credit report which will show you are paying. So good luck! yes i agree you must settle accoounts out yourself,, even if it means to do one at a time,, those cccs places are a scam, you give them hundreds a month and they pay very small amounts to each creditor ,, this will take years! these dbts will not be deleted!! they will be legally settled, and will improve your credit,, even if you pay balance in full, it will not be deleted. but when you go to apply for a loan, they will see that you did pay, which is of course better than not! |
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