Are all the credit repair agencies reliable?

Hi guest,

There are various credit repair agencies coming up with promises to help you improve the credit score. But generally most of them are not reliable as they charge a lot of fees in return and after sometime they would just disappear with your money.

Self-help is the better way to improve your credit profile.

Thanks,

Sara.

Hi,

There may be a few good agencies who are helping people with poor credit. But most of them are involved in scams and they deceive people suffering from bad credit score and struggling hard to get on with their finances or apply for a loan.

Just visit our section on Credit repair scam and how you may prevent it. Hope it will help you.

Thanks,

Caron.

There are so many companies doing this bussiness, are they all fraud. I dont think so and how they can do so fast. My point was if they can help me in improving the score in few weeks then we can also do it....

Yes, if they can help you, you can surely do it yourself. And, hope you have noticed that I said that not all companies are doing frauds, but there are several of them.

How will I know that a particular company is fraud or not

You will find such companies advertise their services on various media – the newspapers, internet, television, radio etc. But this does not always mean that all such companies are fraud. This is just a possibility.

Most fraudulent companies avoid the US Postal Service and use the courier. They do so because mail fraud is a serious offence.

John

Hi,

The companies doing frauds often let you know that it's very easy for you to get a loan or any type of credit but only after you pay them an application fee initially and this fee can be thousands of dollars. And, they run away once they have accepted your payment.

You can also visit the section on common Credit Repair Frauds.

Thanks,

Sara.

thanks to all for such lovely advices...

First off i will be the first to say that yes there are alot of companies out there who promise the world and dont produce results. I got burned by a credit repair company who charged me nearly 2000 dollars. I could never get ahold of anyone at all. Always computer talking and sending my letters. They do just online disputes. After doing my homework and learning things you want to find a company who audits the creditors directly using certified mail. Also who offers a money back gurantee for no results. That protects you. Study the contract and ask questions so you fully understand everything they are doing for you. Also you want them to educate and coach you along the way keeping in touch. I found a company that did that for me and has raised my score in the last 5 to 6 months. Helped me open trade lines that report to all three bureaus and set realistic goals for me. I also referred a friend and they didn't even put him in the program because there were things he could do on his own to get this credit straight. Like i said just do your homework because there are a few companies out there who have ethics and really want to help people.

Well said Bill. Welcome to our forums :)

It is true that not all credit repair companies can fix your credit, I mean some make false claims and then you end up with paying huge dollars for a service which shouldn't require more.

I think you came across a very good company that helped you recover your score in 5-6 months. But again, if it can be done by ourselves then that's even better. By the way, why don't you join our community and share your experiences here. While you share your views and experiences, others will learn from you and at the same time, you too get to learn from them. It's all about making ourselves aware of daily finances to live better lives.

Good luck

Self help is a good starter. I would try to do the repair on your own if you can. It is hard to sort out the good from the bad. It seems to be a money making thing these days. There was some nonprofit organizations out there at one time to help. sometimes your states website will list these. With nearly everyone facing credit card debt these days and hikes in the cost of living it would be great for a company to step forward and help. This is also why they can make money off this type of thing. A lot of us are finding credit cards as a simple answer..even though its not.

I think that if you get all the information available online, on sites like this and others, and you take the time to get organized you can do it yourself and save a lot of money.

It is time consuming but worth it. Everyone can use a way to save a few bucks and doing this yourself definately can.

if you are going to use a company, do your research and make sure they have a good reputation and follow through with their end of things.

Hard to find a company like that theses days.