Zeroskillet

How are Credit Repair Companies

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Possibly looking into a local company here in Miami

Are they usually legit?

Run (don't walk) away as fast as you can. There is absolutely nothing, and I mean NOTHING, that they can do for you that you can't do for yourself. Trust me, I used one myself early last year. Money wasted!

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MAYBE IT SHOULD BE A 'STICKY' with one reply:

No!

and then lock the thread.

Agreed. This questions has been asked many of times. Might need a sticky to let the newbies know what's up! :) You can do all by yourself! (I think that's a quote from a song.)

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Most of the stuff they will have you give them as evidence will be 3/4 of the work anyway. The Credit Repair Companies will just send letters on your behalf. If you can't write a letter than search some samples on this site. Save yourself some money (usually alot) and don't be overwhelmed. We are here to help you. The people on this site have been where you are (or currently in the same situation) and are great at sharing their thoughts. Good luck.

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I have! they are excellent! They helped remove my Bankruptcy, tax lien, serveral collections and a charge off, and two credit card lates. My score was up 125 points in three months. I since have referred them to my brother and uncle who have also been very happy. They are really good on the phone going over how to rebuild your positive credit history as well. I got my home loan six months ago and considered myself blessed that my mortgage broker referred them to me. Thank you National Credit Care.

-John G.

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razzle.....there are hundreds and hundreds of threads on here saying basically " Help! Some credit repair company screwed my credit up and took all my money"

Despite the phenomenal claims made by most credit repair companies, all they do is dispute tradelines in the name of the consumer. The filing of a consumer dispute is the only method anyone other than the creditor, a CRA or itself has to affect change in any file. A credit repair company cannot do anything the consumer cannot do themselves for free and faster, in fact ā€“ they cannot even obtain a copy of the consumersā€™ CR as credit repair companies are prohibited access to EX, EQ, And TU

Many credit repair firms violate federal law by requiring up-front fees often disguised as "account set-up" or analysis fees. Some require you to purchase a training manual for hundreds of dollars just to access "free" credit repair. Credit Repair Organizations Act - Public Law 90-321, 82 Stat. 164 ā€œ404. Prohibited practices. B) Payment in Advance.-- No credit repair organization may charge or receive any money or other valuable consideration for the performance of any service which the credit repair organization has agreed to perform for any consumer before such service is fully performed.ā€ The entire text of the CROA is available at http://www.ftc.gov/os/statutes/croa/croa.shtm

"We've Never Seen a Legitimate Credit-Repair Operation"

Steven Baker, director of the Federal Trade Commission's Chicago regional office.

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I got luck and the credit repair company I used helped get a lot of stuff removed from my credit report over the 2 years I was with them but I've read lots of bad stuff about using a credit repair company so I'd say it's a gamble. you can roll the dice and see how it works for you.... I'd just save the bucks and do it myself!!! That's what I'm doing now. I'm doing the rest of my credit cleaning on my own and it's working just fine. YOU CAN DO THE SAME THING THOSE COMPANIES DO AND IF YOU DO IT YOURSELF IT'S FREE!!

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Possibly looking into a local company here in Miami

Are they usually legit?

All depends upon what you mean by your question: Are they usually legit?

Legit as in legal to start a credit repair business? Well, yeah. "Credit repair organization" is referenced in the FCRA insofar as what rules apply to them as opposed to individual debtors.

Legit as in do they avoid operating on false hope and false promises? No. They tend to overcharge, overpromise, and many times make a bad situation worse.

The very best CROs will charge you way too much money for things you can do yourself. The very worst CROs will lead you down the path of judgments against you.

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