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Repairing My Credit
Gertrude Said:Why are so many asking about the credit repairing business?
We Answered:If you look closer, you will find that it really isn't 'lots' of people. It's the same two or three usernames which I suspect are actually the same person -- same wording.
It's someone doing a rather poor job of spamming. As I'm sure you already know, most credit repair businesses are a waste of money and many are just pure scams.
Gladys Said:How can i repair my credit fast?
We Answered:I was recommended this site a few months ago, and i am already seeing great results on my credit score with their detailed information on how to repair your rating : http://www.creditrepairpack.com
I think you will find it very useful!!
Nicholas Said:Repairing credit how??? HOw do I take negative things off report that are already paid off?
We Answered:You CAN get negative items off of your report - especially if they are paid. Paid collections come off about 80% of the time when you dispute the trade line with the credit bureaus. Look on your credit report and see which bureaus the item is reporting to (usually listed on the far right hand side). Send dispute letters to the bureaus, but do NOT admit to owing the debt. The burden falls on the bureaus to prove it. They will contact the creditor to verify the information. Most times, when the item is paid, they will not respond to the bureaus and - by law - the bureaus must take it off of your report. I do it ALL the time with my clients, so don't believe people who tell you that you can't. If it doesn't work the first time, keep trying.
Janice Said:In repairing credit: Should I pay off charge off items or will this even help my score.?
We Answered:I am going through the same thing, except I'm getting to my debts while in collection or before they go to collection. You should send a letter as stated in the previous response AND when you send the letter include that you would like to have the debt removed from your credit report so that it won't affect your credit score any longer. Also include in the letter some where that they agree not to file a 1099 c form against you so that you won't have to claim it on your income tax and have to pay the unpaid balance of your settlement to the IRS. If you would like to get a better understanding of this Google "Pay to Delete sample letters" and you will get many sample letters of what to write. I hope this helps you out.
Gregory Said:Negative items and repairing credit?
We Answered:The negative items age off your credit report 7-1/2 years from the date of first deficiency. This is per the FTC and nothing re starts that clock.
You may want to pull a copy of your credit report (AnnualCreditReport.com). If there are any errors, dispute them with the credit bureau.
Work on negotiating settlement of the derogatory items. Start with the newest and work back to the oldest. If any of the negative items are single entry, like cell phone, medical, and utility bills, ask for a delete for pay -- you pay and they remove the item. This will help your score. But it doesn't work as well for regularly reported items like credit cards. The collection agencies can only remove what they report. The original creditor's charge off will remain.
If the debt is over 3 years old, offer 25%; 2 or 3 years old, offer 50%; less than 2, offer 75%. Lump sum gets the best deals. Payment plans have to be short term. Get any settlement agreement in writing before you pay. Keep it, along with your payment proof, forever. Do not give collectors direct access to your bank account.
Paying off old debt will not increase your score, unless you get the item removed. In fact, initially it will decrease your score. The older the item, the less impact on your score. When you pay old debt, the transaction is current and counts more in your score calculation, including the negative parts.
However, paid old debt always looks better than unpaid. If you plan to purchase a house in the future, mortgage companies will require you to settle all derogatory items before approving you for a loan.
Ray Said:Repairing credit-Is it true old debts do go away after time?
We Answered:Financial Destination has a credit repair call that comes on at 9:30 pm eastern time you need to be on this call 646-591-5800 pin#0546# the call will answer all your questions. You can call me after the call for anymore answers 704 450 8877.
I believe if any in case, so many people are asking about repairing credit cards, it in the air. May be so many are facing fraudulent schemes or the scams are in a fashion now.