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I heard that they can remove bad debt off of your credit completley.

What happens if you go to them, with your debt ALREADY all paid off, (but paid after it was in collections or a charge off). Will they use their recorces to take all the bad off to immidatly bring up your credit score?

6 Thoughts on question about those credit repair places….?
  1. Reply
    Naser K
    July 30, 2011 at 3:40 am

    About credit repair places can be read in

  2. Reply
    July 30, 2011 at 3:47 am

    No. That is not what they do. Actually, they have nothing to do with your credit report or score, regardless of what they might advertise

    I was 19k in debt but still making payments. My score was still good, but my debt ratio was too high, most of my cards were almost maxed out with a lot of borrow from one to pay the other off.

    All they do is send a letter to your creditors and based on pre-neogociated rates, they reduce your interest and payment. The hitch is that you must claim all of your debts and you cannot continue to use your cards. The companies will shut them off if you are enrolled. But, to take a $ 3,500 Discover Balance with a 19% interest rate down to 0% and having all of your payment going towards principal is great.

    Your report will reflect that you are in debt counseling, but that is 100X better than having a bankruptucy. Once you are free and clear, you can begin to re-establish credit and try again.

  3. Reply
    July 30, 2011 at 4:27 am

    Before you waste time and money on a credit repair company, read what the FTC has to say:

    These companies can do nothing to improve your credit. They will just take your money.

  4. Reply
    Brian D
    July 30, 2011 at 5:20 am

    There’s a difference between credit repair and debt settlement.

    Credit repair services challenge the negative items on your credit report and attempt to remove them. we are basically enforcing the Fair Credit Reporting Act for you. More advanced companies, like mine, actually attempt to remove the data by validating or negotiating with the source creditor.

    Debt settlement companies negotiate your credit cards for discounted payoffs, but damage your credit in the process.

    To answer your question, we can remove anything your creditors fail to verify as accurate, even if you paid it already. It’s not uncommon for people to pay collections, for example, if they need to refinance and don’t have the time to take the normal dispute measures. That doesn’t prohibit them from challenging it later.

  5. Reply
    infinite crisis 247
    July 30, 2011 at 6:15 am

    these places are 99 percent scams. even if the debt is already paid off, the delinquency will be on your credit report for 7.5 years. the only thing that is going to make that come off is time and/or a “pay for delete” agreement w/ the creditor. most revolving debt holders have little interest in doing this, but you might have better luck securing one from medical or utility related debt. being that you’ve already paid off the debt, this is moot as you no longer hold any leverage.

    FYI: what ratdaddy is describing is debt settlement, not credit repair. those are two different animals entirely. personally, i would avoid either of them.

  6. Reply
    Bono N
    July 30, 2011 at 6:18 am

    Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service –

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