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Online Credit Repair
Leonard Said:What is the best credit repair company online? Thanks?
We Answered:None ,you cant repair credit,you can tho talk to your creditors yourself and they will most often set up a repayment plan for you .Its very time consuming but a lot of times your creditors will take pennies on the dollar in payment of an old debt just to get it off their books. Credit Repair Company's just get money either from you to arrange payoff and/or get money from your creditor to help collect a debt....Don't pay money for what you can do yourself, Good luck
Julian Said:Are there any real credit repair companies?
We Answered:If you really want to repair your credit as badly as you say you do, then the first step is to avoid credit repair services. They don't do anything anymore special than you can do on your own. The first thing that you need to know that knowledge is power. In order to fix your credit, you should know how your credit is scored and how it affects you
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%
With that said, there's 2 things when it comes to bad debts and collection items that you should be aware of, the FCRA and statute of limitations. These are 2 diffferent things. The FCRA(Fair Credit Reporting Act) is the timeframe that negative items can remain on your report which is 7½ years from the date it first went deliquent. For example if a debt first became delinquent July 10, 2000 the legal limit that the debt can be reported would be January 10, 2008. Also, there is a seperate statute of limitations that varies by state on how long a debt can be legally enforced. This is different from the FCRA, because depending on which state you live in the statute may or may not expire before the FCRA.
here's a link for that
Another important thing to know is that negative items that are less than 2 years old are hurting your score the most. It's possible that you can settle much older debts for far less in exchange for getting them removed from your report altogether. This is called a "pay to delete". I posted several links explaining this in detail
There's sites like the one I posted along with a few more than can help you repair your credit cheaper and easier than you would if you paid out of the pocket.
Marilyn Said:Is there an online store that you can buy things to repair credit, like seventhavenue.com?
We Answered:?redit repair work?d fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service - freecreditreport.hotusa.org
Harold Said:Does anyone know a good online credit repair company?
We Answered:the only true way to repair your credit is to pay off your debts asap and stay out of debt. if you use a mediator to consolidate your debts this will be looked on the same way a lender looks at a bankruptcy. if you have real disputes about your credit you just need to dispute them with the credit bureaus, if there is no response from the agent that placed it on your credit within 30 days, then by law it must be removed. however, if its a true debt, there's nothing legally to do other than pay it off or wait 7 yrs for it to drop off your record.
Mae Said:Has anyone tried using these online credit repair services?
We Answered:In order to build up credit and establish a good credit, you must show a number of stabilizing attributes. Most notably, your report must prove to the lender that he will get his money back. Here are some suggestions:
OPEN A BANK ACCOUNT
Open a bank account and use it responsibly. This is the first step in establishing a financial history.
One way is to piggy-back onto someone who already has a good credit history established and is willing to co-sign. Once the co-signing has occurred, you simply make payments on or before the due date. In time you will have established a credit history.
SECURED CREDIT CARD
Apply for a credit card. Shop around and only apply for a card if you can meet the lender's requirements. Responsible use (spending within your budget and paying your bill on time) will help you build a good credit history.
DEPARTMENT AND GASOLINE CREDIT CARDS
Since gasoline credit cards are not revolving (cannot carry a balance forward month-to-month), often they are easier to obtain than regular credit cards. Similarly, some department stores offer revolving credit for a specific purchase and this is sometimes easier to establish. It is also a great way to establish credit.
This website can be very useful for you: