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Hello fellow yahoo members,
I am planing on signing up with a credit agency repairer and was wondering if these company work. I am all on collections and owe a large sum and I’m trying to set myself free. I have been taking a look at msicredit.com and wanted to see if its reputable and I will be charged additional fees up front with all legal documents. . I have looked on bbb.com to see this company and so far it looks great, but I need some golden advice on this so some knowledge would be highly appreciated. I have enough creditors cold calling and all that junk is make me sick, and also I don’t have the time to just to settle everything by myself and I don’t know where to begin. =( i work 2 jobs, so I have my hands tied. Advice please!!

5 Thoughts on Does credit repair agency work?
  1. Reply
    $m¤¤v¥ £¤¢¤
    July 5, 2011 at 11:06 am

    If you really want to repair your credit as badly as you say you do, then the first step is to avoid credit repair services. They don’t do anything anymore special than you can do on your

    own.The first thing that you need to know that knowledge is power. In order to fix your credit, you should know how your credit is scored and how it affects you:

    1. Payment history- 35%
    2. Total debt owed to avialable credit ratio-30%
    3. Length of time establishing credit-15%
    4. Types of credit established-10%
    5. Inquiries and New accounts-10%

    With that said, there’s 2 things when it comes to bad debts and collection items that you should be aware of, the FCRA and statute of limitations. These are 2 diffferent things. The FCRA

    (Fair Credit Reporting Act) is the timeframe that negative items can remain on your report which is 7½ years from the date it first went deliquent. For example if a debt first became

    delinquent July 10, 2000 the legal limit that the debt can be reported would be January 10, 2008.

    Here’s a link for the FCRA:

    http://creditinfocenter.com/creditreports/cr_time.shtml

    Also, there is a seperate statute of limitations that varies by state on how long a debt can be legally enforced. This is different from the FCRA, because depending on which state you live

    in the statute may or may not expire before the FCRA.

    here’s a link for that

    http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml

    Another important thing to know is that negative items that are less than 2 years old are hurting your score the most. It’s possible that you can settle much older debts for far less in

    exchange for getting them removed from your report altogether. This is called a “pay to delete”. I posted several links explaining this in detail

    http://www.creditinfocenter.com/debt/settle_debts.shtml

    http://www.creditinfocenter.com/debt/neg_rating_after_settle.shtml

    http://www.creditinfocenter.com/debt/CanCreditorSue4SettlementDifferences.shtml

    http://www.creditinfocenter.com/debt/ActualDebtSuccesses.shtml

    http://www.creditinfocenter.com/debt/debt-negotiation.php

    There’s sites like the one I posted along with a few more than can help you repair your credit cheaper and easier than you would if you paid out of the pocket.

  2. Reply
    Billie
    July 5, 2011 at 11:23 am

    don’t do this. Fix your credit on your own. Don’t spend money to fix your problem, spend effort and diligence.

  3. Reply
    Steveo
    July 5, 2011 at 12:20 pm

    The Federal trade commission says that you are flushing your hard earned money down the toilet. You can do better if you try to work with the collection agencies. Some will actually take a lesser amount than what they say that you owe. I have give the same advice to others and they think that this is good advice. In addition, you will waste your money paying these report agency repair places who are only in business to take your money. They write letters on your behalf and don’t do much more than that (no documentation at all).

  4. Reply
    James S
    July 5, 2011 at 12:42 pm

    Yes most credit repair services work despite what some people say. They provide a service and like most services you could do it yourself if you knew how and wanted to spend the time doing it.

    I don’t cut my own hair or do my own taxes but I could.

    Good that you checked with the BBB. If they gave the company a good rating I would be fine with using them.

    The site below is a great place to learn more about how specifically these companies work and what to avoid.

    Good luck.

  5. Reply
    Mark C
    July 5, 2011 at 1:07 pm

    Yes, I recommend http://www.credit-report-repair.us

    Here’s what we offer:

    * One time fee of $ 500 for upto 1 yr (most customers have 70% of their negative items removed in the first 4-6 months). Unlike monthly fee based companies who take twice as long to fix your score we get a one time payment so the faster we fix your score the better it is for us and for you!
    * National credit repair service company with a 100% money back guarantee.
    * Permanent removal of BANKRUPTCY, LATE PAYMENTS, CHARGE OFFS, ERRORS, IRS, REPOS, CHILD SUPPORT, FORECLOSURES, JUDGEMENTS, LATE PAYS, STUDENT LOANS & MORE (Note: IRS and Child support are two newly recurring marks on your credit report so even though this service will remove even these marks permanently what you owe the IRS and child support may come back on your credit report, for example new tax bills are issued to your credit report once a year).
    * Permanent removal on your reports for the 3 major credit bureaus: Trans Union, Experian and Equifax.
    * Excellent customer service: Toll free support phone number open 8-5 M-F once you sign up.
    * Online tracking – you can see 24/7 the work being done, what your score was, what it would look like today, tomorrow, and all the bad items that have been removed from your records, not to mention there are running notes that you can see on all your conversations and tasks done on your case.
    * All you do is send us what you receive in the mail! No credit work experience is required on your part! We pull your credit and handle all of your correspondence with the bureaus and creditors for you.

    Come visit us at http://www.credit-report-repair.us

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