Sep
30
2009
Is Credit Repair Really Effective And How Much Would You Pay For It If It Is?
Posted by: Alan in Credit Repair, tags: Credit, Effective, Much, Really, Repair, Would
A excellent credit report is very vital for living a comfortable life of financial freedom but it’s hard to recover fom a terrible credit report once you’ve made a few mistakes. Credit repair companies can be helpful, especially if you allow some time for your file to be worked on before you need it completely done.
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September 30th, 2009 at 8:58 pm
Yes it is! Every mortgage broker has at least a handful of folks they use to sweep up folks credit. 1% difference on a 150k loan is TENS OF THOUSANDS of dollars in interest savings.
It’s easily worth the 2-300 bucks most charge.
September 30th, 2009 at 10:51 pm
You can repair your credit with the following steps and it won’t cost you anything except a lot of time, effort and hard work:
1. Control your spending. Develop the discipline to set a spending limit and to maintain it.
2. Develop a written budget and stick to it. Modify your budget only when financial issues have improved. Three basic categories in your budget should be “Personal,” “Household” and Contingencies.
3. Position yourself to make additional revenue streams. You need more than one source of revenue. A homebased business is an brilliant opportunity because it provides brilliant tax benefits in the US, in addition to the extra income.
4. Become more financially literate; learn how money works and how to make quality financial decisions.
5. Learn to speak to yourself in “cans,” not “cannots.” In other words, don’t question “why can’t I afford such and such; rather, question, “what must I do to afford such and such?’
6. Include trustworthy family, relatives and friends in this quest so you have people who care about you to hold you accoutable to working your financial freedom venture. Do not include anyone on this team who lives a reckless financial life.
7. Write all this down because an unwritten plot cannot be followed.
October 1st, 2009 at 1:58 am
Avoid credit repair. They are either scammers or people charging you money to do what you can do yourself. A lot of times they will suggest you get an Employer Identification Number (new SSN), but this is illegal.
Do your own homework and fix things the honest way. Beware of anyone saying they can erase your terrible credit history; there is no legal way to erase accurate data. You can, but, order a copy of your credit report and make sure that anything inaccurate gets investigated.
October 1st, 2009 at 7:03 am
I agree with the last two posters.
Paying someone to do it, or purchasing some websites advice online, is not the best way to repair credit when everything that you need to know is there, free to use. Save that money for other things and do it yourself.
The site I’ve listed below is a “free” do it yourself credit repair site. It has a fantastic amount of credit based information, all free for anyone to use.
October 1st, 2009 at 9:08 am
Credit repair companies do something that you can do yourself and you wont have to pay high fees. Basically they call all your creditors and make a deal with them and tell them that you cant pay. All this does is lower your score. The whole process is about lowering your credit score so low that the people you owe money to wont have any other choice then to go with the repair agency and try to recoup their money from you. Consider first, how low is your credit score in the first place.
October 1st, 2009 at 10:52 am
The above answers are all right, in their various perceptions. But if it is vital to you, than do it right and hire a reputable credit repair organization. Lexington Law Firm, lex123.com, is doing mine. They have been around for 15 years, they are a law firm, and they specialize in credit report repair. They are not expensive and have a money back warranty. They even fix bankruptcies.
October 1st, 2009 at 11:54 am
I don’t reckon havin a excellent credit report is very vital for living a comfortable life and I certainly don’t reckon it gives you financial freedom. Having excellent credit only does one thing; it lets you borrow more money. You will just be slave to the lender. How is that financial freedom? I say cut up your cards and work and save to pay cash.
October 1st, 2009 at 5:00 pm
I haven’t heard any excellent reports from Credit Repair. I do know get your own credit report, if you see anything incorrect with your report write to the credit bureau about the situation. If not pay what ever the bill you owe. Hope this help.
LC
October 1st, 2009 at 11:03 pm
First..NEVER PAY FOR CREDIT REPAIR!!!
I can’t stress this enough. They can do nothing for you that you can’t do yourself by learning how to do it. It’s just about knowledge! Go to
creditboards.com and learn EVERYTHING on your own!
Now watch this!
I dare one credit repair person who maybe reading this to call me a LIAR!!!
They won’t…watch..because they know it’s right!
October 2nd, 2009 at 1:55 am
Don’t Do It!
It’s gonna cost you money, and it’s not going to be of any fantastic benefit.
I can’t tell you what to do because I don’t know your situation, but I know MY situation is really messed up. I chose to do the right thing and start making it better.
Start by going to the Federal Trade Commission’s Web site – the section on credit. I’ve listed the source. There’s a PLETHERA of information on what you can do to start cleaning it up.
It’s not simple.
It’s not over night.
But then again, we didn’t mess it up over night either, did we? I know I didn’t.
I’m an impatient guy, and I despise having to work hard at cleaning up my mistakes, but it’s the best way… I promise.
October 2nd, 2009 at 2:47 am
this site has a credit repair kit there is a one time membership feehttp://www.wesayes.com