Comments on: Improving Credit Score?

By: Tom

Tom — Sat, 13 Mar 2010 07:55:59 +0000

?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 – buildcredit.ifastnet.com
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By: My Take on It

My Take on It — Sat, 13 Mar 2010 07:45:59 +0000

First off, do not pay some credit repair service $700 or anything to repair your credit. They are going to take your money, and you are going to be left with the same crappy score and report you have now.

All the things you have on your report are there because you earned them. A credit repair company cannot erase negative items on your report unless they are wrongfully there.

You are not going to get a small or large loan to pay off your debt. Your credit shows that you do not handle debt well and it is a red flag. Also, getting a loan to pay off other loans is not getting out of debt! It is just creating NEW debt.

What you need is to increase your income and put it towards the debts that are holding you back from getting your score to increase. Also, even IF you were to pay off all your bad debt, you would have to get new credit established and pay it on time in order to get your score back in decent territory.
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By: Ryan M

Ryan M — Sat, 13 Mar 2010 07:29:59 +0000

1) This company is a SCAM. They can work on the debts, but NOT the delinquent RECORDS of that debt.
2) Raising a score 200 point will take about 3 YEARS of perfect credit management. There is no such thing a a quick fix to a credit score. If there was such a thing, EVERYONE would have a 800 credit score and the WHOLE credit scoring system would be useless.

The WHOLE point of a credit score and report is to report your past credit BEHAVIOR, not the debts themselves. If you past can be simply wiped away, what would be the point of having a credit score at all if you can make it almost perfect by paying some company a few hundred bucks???
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By: Gaytheist Buddha

Gaytheist Buddha — Sat, 13 Mar 2010 07:09:59 +0000

How much did you pay? Nobody can repair your credit any better than you can yourself.

AT BEST, they can only dispute errors on your file. You can do that yourself. Is it worth hundreds of dollars to pay someone else?

Late payment notations remain on your credit report for 7 years.

Here’s the sales pitch gimmick the credit repair places use: We’ll keep disputing everything on your report. Credit bureaus have to respond to us within 30 days, or it automatically drops off. Our computers will keep submitting disputes.

Here’s why it fails: Credit companies have better computers to respond to frivolous credit repair disputes. You end up paying repair agency hundreds of dollars and get no results.

Sorry to break the bad news.

Learn more about how to manage your credit and finances wisely by reading "Personal Finance for Dummies" available from your public library (free) or an independent bookseller near you. Also on-line at Amazon http://www.amazon.com/Personal-Finance-Dummies-Fourth-Tyson/dp/0764525905

A 700 FICO score goes only to people who always pay their bills on time and don’t use more than about 25% of their available credit limit. You will need several years of good payment history to move from 500 to 700.
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