Here is the "Skinney" on the credit bureaus

jerry · Posted: Tue Jan 01, 2008 12:00 am Post subject: RE: credit bureaus

Glynis, you're right..one should be aware of the reporting laws and his rights as a debtor. This will help him dispute errors in the credit report or any misrepresentation of facts etc.

If one has to challenge the bureaus, he should be ready with the accurate data and necessary proofs as required. Only then it will be worth challenging the bureaus.

Thanks,

Jerry

adonis · Posted: Tue Jan 01, 2008 2:48 am Post subject:

But is that so easy to challenge bureaus? I find so many people suffering from bad credit; had it been so easier, many could have got their credit reports cleaned.

gds01gds · Joined: 29 Dec 2007 Posts: 21 17.11 Dollars($)

There are several places on the internet that have forms for free or in my opinion if you can hire a professional that is the best way to go. Of course I happen to be in that profession and of course Im going to say that. If you want to get it done quickly a professional is the way to go. Believe me it is worth it.

gmakerley · Posted: Tue Jan 08, 2008 12:42 pm Post subject:

the federal trade commission has a very beneficial, informative website here: http://www.ftc.gov/bcp/conline/pubs/credit/repair.shtm.

the article is entitled "credit repair: self-help may be best" and points out the foibles of paying for the "service."

i have encountered, on way too many occasions (and once would be too much), people who have been mistreated by so-called credit repair agencies. unfortunately, there are some disreputable folk doing this business. i am not trying to paint all these companies with the same brush, but consumers are gullible (i think we can see that on these forums) and need to be vigilant at all times to protect themselves from scammers.

it behooves us on these forums who claim to be trying to help, to actually provide sound advice; i.e. do our homework and let people know the straight scoop as well as the skinny.

gmakerley · Posted: Tue Jan 08, 2008 12:57 pm Post subject:

wow...$1245 for an individual "membership" or $1745 for family (let's not forget the kids!). honestly, my suspicion is that those signing up don't have the funds to pay in full, because if they did, they wouldn't need to be cleaning up their credit to begin with.

i don't dispute the claim by tcra that "credit bureaus do not concern themselves with the impact on consumers. primarily their profit margins guide their judgment rather than consumer rights."

the rest of the verbiage, however; seems to be more of a diatribe and the ramblings of a conspiracy theorist - all couched in such a way as to alarm the average person that his or her rights have already been harmed.

banker0679 · Posted: Tue Jan 08, 2008 1:49 pm Post subject:

wow...$1245 for an individual "membership" or $1745 for family (let's not forget the kids!).

lol good laugh.

molson · Posted: Tue Jan 08, 2008 1:56 pm Post subject:

FYI... this is how a credit scores is formulated!

• Payment history takes up 35%
• Debt ratios or the balance and limits of your existing accounts take up 30%
• Length of credit history is 15%
• Type of credit 10%
• Number of inquiries is 10%

gds01gds · Joined: 29 Dec 2007 Posts: 21 17.11 Dollars($)

Most of our clients do pay in full as a matter of fact its over 70%. We have never had one complaint to date either. But if you wanna do it yourself go ahead. Its your future that your working on.

banker0679 · Posted: Tue Jan 08, 2008 2:43 pm Post subject:

a lot of ppl dont even know why derogatory items are deleted.....most ppl who fix credit don't even know why.

it's very easy to remove items......and sending out letters is the worst way of handling it.

gds01gds · Joined: 29 Dec 2007 Posts: 21 17.11 Dollars($)

Just want to try and start something. This is a place to post and try and help people not to put someone's livelyhood down. I have always advocated in almost every post to do it yourself if you want to. But as usuall a banker is the smartest one here so definately listen to him and you will be so much better off. Its funny to me that most of my referrals come from mortgage brokers. Hmmmmm wonder why?

banker0679 · Posted: Tue Jan 08, 2008 3:02 pm Post subject:

Nah first I was laughing at the remark George made...it was funny.

The funny thing is that even though fixing credit maybe easy....a lot of ppl would rather pay 2-3k for someone else to do it.

I can tell them all the secrets...and everything and they will still hire a credit repair company. They dont want to deal with it, and they see the benefit. I paid for a credit repair company myself....then I learned to do it for my borrowers.

Glynis...you'll always have business even if you hand the letters to the borrowers..and give them the number to the president to every credit agency.

BTW you get your business from brokers...the same reason why you might get a client from they yellow pages...
Convenience!

Guest 0.10 Dollars($)

WoW, it really is very simple to fix credit..my credit was once horrible!! it was embaressing. this was about 6 years ago, and then i fixed it on my own. u can even do it online or over the phone.....why pay when u can do it urself? hmmm i guess u guys r right..it is time consuming!

adonis · Posted: Sun Jan 20, 2008 3:36 am Post subject:

Welcome Ruben,

yeah credit repair can bedone by self but at times, one may need expert advice too. But hey isn't your credit up to the mark?

lisascherzer · Joined: 04 Jan 2008 Posts: 599 69.56 Dollars($)

I agree with Banker0679 that people just don't realize that they can "fix" their credit themselves for free so they are hhappy to fork over the money for someone to do this. Usually the claims made by credit repair companies seem to be exagerated so I can see why many people do pay for this service even though they do not have to in reality.

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