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Old 12-20-2007, 08:41 AM
 
Location: Deep in the heart of Texas
1,917 posts, read 6,304,971 times
Reputation: 1957

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I recently have been looking to up my credit score and have seen many ads for credit repair agencies (Lexington Law, etc). Anybody have any thing to say about that? Can they legally remove negative items?

I spoke to a mortgage guy and a realtor and both said to get one b/c it would help improve my score. Most of my negatives are from past medical collections bills (bad, bad health issues in the past). I am not planning on purchasing anything on credit for the next two years ( a home). But I want to get the best rate possible. Any ideas would be most helpful.
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Old 12-20-2007, 08:53 AM
 
4,541 posts, read 9,496,950 times
Reputation: 3848
Anything I have read or seen on the news regarding agencies that "repair" credit has always been a scam. There is not way to take off negatives. You either work something out with the creditor and start paying which should slowly help your score, or wait for negatives to drop off.
There is nothing those agencies will do that you can't do on your own. You've got two years to try and get the score up. Call the creditors and see what kinds of deals you can strike.
If there is anything on your credit that is incorrect, just report it to the credit reporting agency and they will do the research.

http://www.ftc.gov/bcp/conline/pubs/credit/repair.shtm (broken link)
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Old 12-20-2007, 09:33 AM
 
Location: Papillion
2,584 posts, read 9,361,364 times
Reputation: 884
Don't use them.

1) great link in the previous post

2) if there is a debt issue then a legitamte not-for-profit like Consumer Credit Counseling may be an ok last resort.

3) if there is not a current debt issue, but there are some old collection items on file - what about going back and rectifying those situations - pay what you owe. Once you do that you can then add a comment to your credit bureau that is to append to your credit report. May not specifically help the score, but will make you whole and show you did the right thing.
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Old 12-20-2007, 12:53 PM
 
Location: Deep in the heart of Texas
1,917 posts, read 6,304,971 times
Reputation: 1957
Got it. Thanks guys. I was just curious b/c not only myself, but some coworkers were curious...
We'll just do it ourselves. However, someone told me not to go with CCCCS b/c they just charge you a fee to negotiate with creditors when you can also do it yourself.

I think I will just start doing it myself.
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Old 12-20-2007, 04:59 PM
 
Location: NE Florida
17,835 posts, read 29,410,367 times
Reputation: 43270
I have to admit when I saw the threat title I said "uh oh the posts should be interesting"
I was so excited to see the great responses
I shall have to "bestow the gold stars" upon you all .

As the others have said run from them . I bet we will still see 1 or 2 posts saying yeah go for it

this is how they work .
The use the dispute process and look for "loopholes"
where the charges billed correctly
Has the statue of limitations run out
Was the application signed
these kind of things, if you "push" them they will admit that they can not remove legitimate past due entries only time will do that.

CCCS is a great organization that is part of United Way the fee is a sliding one based on income. I am not sure how they handle medical past dues.
I really enjoy the game of calling creditors to lower interest rates and have done it for many friends, but those that may not be comfortable or have the time, because it can be a process to get the right dept, might want to CCCS.

CTR how long ago are the medical bills from ?
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Old 12-21-2007, 08:56 AM
 
Location: Deep in the heart of Texas
1,917 posts, read 6,304,971 times
Reputation: 1957
The medical bills are from 2005 thru 2006
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Old 12-21-2007, 10:23 AM
 
Location: NE Florida
17,835 posts, read 29,410,367 times
Reputation: 43270
Still have a way before the statue of limitations expires.
If you can get them paid in the next 9 months that will give you time to show solid credit activity before you start the home buying process.

You did something I highly recommend to anyone looking to buy a house, find out your credit status in case you have any issues that need to be addressed
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Old 12-21-2007, 11:17 AM
 
Location: New York, NY
74 posts, read 265,981 times
Reputation: 67
I would be very careful about using a Consumer Credit Counseling agency (including not-for-profit ones). I have read that the fact that you are using such an agency is listed on your credit report and that in and of itself can lower your score. Not sure if that is the case with all agencies, but it is worth thoroughly investigating if your goal is to raise your score. You might be better served working on the credit issues yourself.
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Old 12-21-2007, 12:16 PM
 
Location: NE Florida
17,835 posts, read 29,410,367 times
Reputation: 43270
Yes it will show that you are under a CCCS program , but when you have finished the program it is removed.
I agree if the creditors will work with you it is the best way to go
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Old 12-21-2007, 01:51 PM
 
Location: Here
10,833 posts, read 11,568,485 times
Reputation: 5928
A few years back I used bradleyrosslaw.com. They were legit and got quite a few things taken off. The only thing people don't realize is that they can easily fix their own credit with a little patience and knowledge.

Head over to creditboars.com. Thats a great resource and it will get you on track to clean credit.
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