? Boost your Credit Score in 24 Hours ?

[almost_there]

Has anyone read this before?

http://www.thebestever.net/credit/creditscore.asp

Has anyone purchased the eBook? I'd be curious just to see what it says. I wonder if it's even possible to make the scores change much in just a few hours. After doing my own credit repair with the help of this site, I just wonder what more this guy could tell me that I don't already know or have seen here. One of the claims on the website is that there is a trick to seeing your scores for free, I'd sure like to see what that's all about. If anyone has any input on this, I'd like to hear it. I'm not going to spend $11 on it if it's a scam.

[kb9tbq]

I have a sneaky suspision that this guy is hooked up with a company for rapid rescoring (service that is offered through some lending companies for updating the CRAs asap) on legitimate errors contained in credit reporting.

Our credit bureau offers this service to banks - we are not allowed to let the banks charge customers for this service. We have not once sold this service, cause the cost to the banks in my view is expensive.

I have heard of such businesses passing the cost to the consumer when they are not suppose to.

When fixing errors; my requirement is to contact the creditor and get them to forward me letterhead documentation and then send this to one of the 3 CRAs or affiliates for them to expidite re-investigating what I have provided them. Once this is completed the scoring is done and I let the bank know the credit report can be repulled.

Forwarding to one CRAs will be shared with the other 2 CRAs - so that updating will be complete.

I have heard some of these services can move as fast as 24 to 48 hours. But here we go by 5 to 7 business days - form the time I get documentation over to the CRAs or such. This is not counting the time which I have to contact the creditors to get the fact of the matter.

I think - what this one is offering has to be a scam of some sort / or just not being upright truthful in his services.

I usually recommend consumers to forget about the rapid rescoring - do their own disputes and fax them in to the CRAs them selves. But with added note that the dispute regards a mortgage loan, tell them when the closing date is (and that you want a rush on processing) also let them know the name of the mortgage company and that you want them to forward their results to this company when they are complete.

Of course this is only after the fact of having applied with this particular mortgage company once (and that they have already pulled a copy of your credit report). So that it is in the inquiry section and the CRAs will have the address to forward reports to them.

That is the best I can suggest for moving important disputes fast. But that is going from the basis that their was a legitimate error to begain with. Otherwise if this is what I think this guy is suggesting; it would be a waste of possible money and time, to be spamming by this method for credit repair on negative but accurate information. Which just won't get you no where, since two companies are ultimately calling and checking this fact out right quick.

[skdigi]

i've never heard of rescoring. after searching google, i found this article to be informative.

http://realtytimes.com/rtnews/rtcpages/20020304_rescoreing.htm

[almost_there]

i've never heard of rescoring. after searching google, i found this article to be informative.

http://realtytimes.com/rtnews/rtcpages/20020304_rescoreing.htm

You gotta love Google! I "Google" everything these days.

Now, taken from the article linked above, the final paragraph...

Don’t confuse rapid re-scoring with “credit repair.” Re-scoring is a legitimate service expressly sanctioned by the credit repositories through special contracts with select credit reporting agencies. “Credit repair”, by contrast, often involves illegal attempts to dupe the repositories and lenders alike.

Illegal attempts? Whatever.

[kb9tbq]

Yes, that is a very good artical you have found there..

I do believe more banks and mortgage brokers are now passing the cost onto the consumers; which they are not suppose to be doing. And like I said here - I can't even move that fast on getting the required paperwork together. If I can I will request the banks to tell the consumer to get what proof they have together also. Might just make the difference in being able to contact the right department and person all the faster to get my job done so that the next step can be picked up by the CRAs.

But also; there is the services available to the banks like RMCRs (residential mortgage credit reports). This is not the same as rapid-rescoring in the fact that the CRAs are not involved.

With this it only involves our office contacting creditors to immediately verify accounts having been paid and updating version of credit report which we pulled and sold to the bank. This also covers verifying employment & all tradelines that are older then 3 months that contain balances.

You have to watch out for this though; if you have outstanding debt with collection agencies and such, my contact with them - will be sure to wake them up for collection efforts if you made the mistake of applying for a mortgage loan prior to paying off such debt that is still showing up on your credit report.

I am not sure on the bank's side what determines which loans they will upgrade to RMCRs and which ones they will just take a 3 bureau merged report on.

This does not affect the credit scores though; what I do here, just updates the data in the report. And this does not update the CRAs as to what is correct in my investigation. The consumer will want to catch up on this part so that the incorrect data is not re-pulled in again when going months later for another loan.