I had a good score over a year ago, and now it’s gotten bad.
Through a series of small mishaps, and a card with a too-high revolving balance
it has gone down.
I need advice about a good place to go based on 3 things:
1) price of consulting them
2) good customer service/customer relations
3) success rate with other clients
Thanks!
Also, I live in the southeast region (so it helps to have names of companies that don’t only exist somewhere else, lol)
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Sun, Aug 1, 2010
August 1st, 2010 at 1:38 pm
Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – credit-report-score.10001mb.com
August 1st, 2010 at 1:38 pm
Fixing credit is super easy.
Go get a book on Credit And Debt Repair from your library or bookstore.
All the secrets are in those books.
They teach you how to negotiate, settle, pay on delete, reduce rates, set up payments, etc like a PRO.
These things are not a secret.
A company will charge you thousands to do something you can do yourself for free.
Run and run away fast if they have the word negotiation or settlement.
This will RUIN your credit.
They collect money from you for profits and allow your bills to go further unpaid.
They are for profit – keep that in mind.
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August 1st, 2010 at 1:38 pm
You have to be very careful. I know of only one that is a Consumer advocate. First Stone Credit Counseling in north Texas. Look at the website, check out BBB. They actually care! They helped my good friend. It is non-profit, also. Don’t know how much they charge, but it will be a decent price. Nothing going to pay for big ads! My friend found them by checking BBB first.
August 1st, 2010 at 1:38 pm
To be completely honest, it’s so much better to fix it on your own. Negotiate with your creditors to get a lower payment or APR. Or you can negotiate a settlement (however, this is going to effect your credit report because you would be paying off the balance for a lesser amount). Just some information on the agencies you are referring to:
Consolidation agencies:
Pros: They will negotiate with creditors to get you a lower minimum payment and interest. They will also stop the phone calls.
Cons: Most collect their fees within the first 3 payments you make to them, which means your creditors are not getting paid for another 3 months. They send out the proposal and have to wait for it to be approved before they can send the pmt (yet more time that goes by til your creditors get paid.) In certain states creditors can file a civil lawsuit against you if they don’t receive payment, which can happen if the company fails to work in a timely manner, then that creditor is less likely to work with that company. ALSO, once the account has not been paid for 7 months the account charges off (despite popular belief, this does not mean you don’t have to pay) this means the bank has written this account off as a bad loan. You’re still responsible for paying, but now your credit report is reporting a profit loss on your account, which badly affects your credit score.
Debt Settlement Companies:
Pros: They can pay off your debt at a reduced balance and over a period time.
Cons: They will ruin your credit. A creditor would NEVER settle for 20% of the balance if you were only a few months late, unless for some reason they believe it would benefit them to do so. Even that is rare. Settlement companies build a "Trust" account for you. (basically a savings account.) They wait til you’ve accumulated enough funds to offer a low settlement and approach your lowest balance to offer a settlement. Things to keep in mind. It could take you 3-4 months to come up w/ 20% of that balance, at which time your account is probably already written off or already has a civil suit against you. AND if they are only approaching the smallest balances for you, that means you are at risk of having the banks with the biggest balances take you to court.
My suggestion. Talk to your creditors. Although, we all hate taking the calls they are probably going to help you the most. They want the money, just remember you need to be in reason when asking for a payment plan if you have a 20k balance don’t ask for a $100 payment a month. Its unreasonable. It may be reasonable for what you can afford, but $100 on a $20k balance is not going to pay the account off for 16 years, that’s without interest. It really isn’t fair the bank to wait for the balance that long. It’s a privilege to be allowed to pay over time, 16 years really is asking too much.
August 1st, 2010 at 1:38 pm
Lexington Law – by far the best credit repair company plus they have a free initial consultation.
August 2nd, 2010 at 6:54 pm
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