I’ve heard about ppl who will "fix your credit score", is this legit?

Tips and Deals Forums Improving Your Credit Score I’ve heard about ppl who will "fix your credit score", is this legit?

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    • #207522
      Anonymous
      Inactive

      A few people I know have told me that they have a “legal” way to improve credit scores anywhere from 50-100 pts for around $500, and for around $3000 you can get a whole new credit report, and this is all legal and in a sort of “gray area”. I was wondering if anyone knew what this was exactly? how it’s done, and how this is possibly legal??? Thanks a bunch!

    • #273666

      Yes there are some agencies that make that claim, but like snake oil salesment, there are some that will raise your score illegaly only to have it come back and bite you on the ass twice as bad.

      Avoid credit repair agencies that charge a fee to improve your FICO score by removing negative, but accurate, information from your credit reports. No one can force credit reporting agencies or lenders to remove accurate information from a credit report. Credit repair companies often take your money without delivering what they promise, or provide only temporary improvements of your score, sometimes by removing accurate information that will reappear later.

      Before you take the plunge, make sure to check them out with your state attorney generals office as well as the FTC.

      Hope this answers your question
      LEGAL DISCLAIMER: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice.

    • #281050
      Anonymous
      Inactive

      basically, you transfer your debt to them for a higher interest rate.

    • #437845
      Anonymous
      Inactive

      You’d have to ask the lender. If 87% is the max they will loan, then that’s the max they will loan.

    • #437846
      Anonymous
      Inactive

      The amount of the closing costs have to be within the 87%. Ask your mortgage broker for more details (better yet, ask several).

    • #437847
      Anonymous
      Inactive

      if you have been approved, then you should have received a Good Faith Estimate by now. If you have, take a look to see the last number, this should give you an idea if you have to bring money to closing or not. Hopefully, whomever prepared the GFE already added closing costs to your loan and you should not have to worry about it

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