credit repair As a business ??

[ChaimMoskowitz]

WOW this came back from the dead. Did anyone find an honest company I can try out? 

[chinagel]

WOW this came back from the dead. Did anyone find an honest company I can try out? 

PM me

[S209]

PM me

[Yellow]

WOW this came back from the dead. Did anyone find an honest company I can try out? 

I actually called a very prominently advertised company credit repair company and they sounded really really shady.
I don't think people realize how simple it is these days to dispute a delinquency on a credit report.

Case in point, I had a delinquency since 2013 (long story, but it was a medical bill that was payed by insurance and they still reported it to collections due to an administrative error...!)
I filed disputes with all 3 bureaus and within 24 hours experian and transunion and responded that they deleted the delinquency from my report. Still waiting to hear from equifax, but they say it takes 30 days. I provided no documentation and the whole thing took less than 5 minutes.

If i would have went with the credit repair agency it would have cost several hundred dollars and they didn't guarantee success or give a timeframe of when I could expect to hear back from them

[S209]

I actually called a very prominently advertised company credit repair company and they sounded really really shady.
I don't think people realize how simple it is these days to dispute a delinquency on a credit report.

Case in point, I had a delinquency since 2013 (long story, but it was a medical bill that was payed by insurance and they still reported it to collections due to an administrative error...!)
I filed disputes with all 3 bureaus and within 24 hours experian and transunion and responded that they deleted the delinquency from my report. Still waiting to hear from equifax, but they say it takes 30 days. I provided no documentation and the whole thing took less than 5 minutes.

If i would have went with the credit repair agency it would have cost several hundred dollars and they didn't guarantee success or give a timeframe of when I could expect to hear back from them

Also, they wouldn’t care if it was true or not, so long as you paid them. THAT’s why they’re generally really shady..

[chayal101]

Also, they wouldn’t care if it was true or not, so long as you paid them. THAT’s why they’re generally really shady..

I don't get it though... Why are all these credit repair businesses 'shady'? Shouldn't it just be a service company who charges the client a 'service fee' for helping out when client doesn't got the time or expertise to do it on their own??

[davidrotts63]

I don't get it though... Why are all these credit repair businesses 'shady'? Shouldn't it just be a service company who charges the client a 'service fee' for helping out when client doesn't got the time or expertise to do it on their own??

They do shady things, it's not so simple to do everything A. Legal and B. In ways that are actually beneficial.

[S209]

They do shady things, it's not so simple to do everything A. Legal and B. In ways that are actually beneficial.

That's not to say there is no way to do it legitimately, it's just the unfortunate reality that most places don't.

Similar to timeshares.

[davidrotts63]

That's not to say there is no way to do it legitimately, it's just the unfortunate reality that most places don't.

Similar to timeshares.

-1 it's near impossible to do it straight and be able to guarantee/have a high success rate.
How exactly will you tackle a CR with say a BK? Or some COs, let me see you remove one from EQ even a month before 7 years

[S209]

-1 it's near impossible to do it straight and be able to guarantee/have a high success rate.
How exactly will you tackle a CR with say a BK? Or some COs, let me see you remove one from EQ even a month before 7 years

-1
You can have a high success rate, although without guarantees. Although certain things can't necessarily be fixed too well or too easily (obviously, otherwise these companies wouldn't be doing things illegitimately), there are basic fixes that would help most ordinary people. Nearly anyone would get a significant boost to their credit with some simple knowledge/experience that any of us could offer.

1) Most people know nothing about credit and how to improve their score. You can walk them through what to do regarding credit utilization and the like. Many people I know think (or used to think, I've since educated them) that carrying a high balance regularly is good for your credit. Others think that having no credit cards at all is best.

2) 80% of people have a mistake in their credit report that you can take care of with a simple letter
https://www.cbsnews.com/news/4-in-5-credit-reports-have-errors/

3) There are things to do about everything. I've helped someone get a mortgage with a decent rate a few years after a bankruptcy without resorting to anything underhanded.

[davidrotts63]

There is only so much you can do, and no a correction on your CR more often then not won't do anything.

[S209]

There is only so much you can do, and no a correction on your CR more often then not won't do anything.

Don't know where you got that from. I've seen a credit score rise by over 140 points after a stupid mistake was removed.

ONE HUNDRED FORTY POINTS.

[davidrotts63]

Don't know where you got that from. I've seen a credit score rise by over 140 points after a stupid mistake was removed.

ONE HUNDRED FORTY POINTS.

What mistake? What other corrections came along with it? What score?
I find this really hard to believe.

[ChaimMoskowitz]

The problem is these companies can do more harm than good with the stunts they pull.

[ChaimMoskowitz]

I find this really hard to believe.

CK 

[davidrotts63]

CK 

Only 140? What a terrible job you did.

[S209]

What mistake? What other corrections came along with it? What score?
I find this really hard to believe.

Low 500s to mid 600s, he had a reported charge-off which wasn't really true, long story. Also was teaching him basic credit management but it was too recent to have had a significant impact.

[chayal101]

The problem is these companies can do more harm than good with the stunts they pull.

How so? Can you pls provide an example?

[davidrotts63]

Low 500s to mid 600s, he had a reported charge-off which wasn't really true, long story. Also was teaching him basic credit management but it was too recent to have had a significant impact.

*Insert largest facepalm emoji possible*

Don't know where you got that from. I've seen a credit score rise by over 140 points after a stupid mistake was removed.

ONE HUNDRED FORTY POINTS.

[S209]

*Insert largest facepalm emoji possible*

Lol.

It was a stupid data entry mistake by the bank which should never have happened and would never have been noticed/fixed by him alone.