Credit repair?

[badmouse]

Anyone have experience with repairing their credit?

I finally read through all 168 pages of my credit reports. My ex will be paying for the credit debt he racked up in our settlement. Till then, I'll be able to get/keep everything up to date on minimums, but not much else.

How do you hire a credit repair expert? I understand there are a lot of shady ones out there. How do I find a good one? my credit woes

 

[GtPrOjEcTX]

you poor woman. someone help her out!

 

[Nocturnal]

Hmm, I believe a lot of them write to the credit agencies and or the people who put the mark on your credit report and try to bargain with them to take off the mark. That's the only thing I know about credit repair. Other then that, I BELIEVE it is similar to declaring bankruptcy. Is bankruptcy a choice with yourself? My mother declared bankrupcty recently and it has been maybe a year now and she has gained some credit history back.

 

[badmouse]

I have too many assets to declare bankruptcy, like half of the house, retirement and insurance money, and so on. But it takes time to convert those assets into cash.

 

[KarenMarie]

My sister wracked up her credit cards to the tune of over $45,000. and then she couldnt pay. She was young at the time, late 20's. This is what I advised her to do:

Call the credit card companies and tell them the truth. Whatever caused the debt to go that high, be honest. Then tell them that as far as you can see, you have two options...

1) they can kindly lower or do away with the interest charges and you will pay the amount owed minus interest. Explain that you realize they make their money on interest but due to (whatever reason) you will not be able to pay the interest but you really want to make good on what you owe and are not trying beat them out of what was rightlyfully charged... and want to pay.

2) you can file for bankrupcy and they will get pennies on the dollar, if that.

After you explain that you really do want to pay, but the interest in putting you in dire straights and you have only those two options, they will mostly likely take the former as it gives them a lot more than the latter.

As for my sister, they took the deal of her paying just the payments and dropped the interest alltogether, but she did not meet the payments and she ended up getting sued by a collection agency. She got a judgement against her, made a settlement with the collection agency and paid it in one shot.

then it is important to remember that you must tell the collection agency or credit bureau that the debt was satisfied. If you do not, it will remain on your history. but if you tell them it was satisfied, they will contact the debt holder for verification of satisfaction and then they must change it on your history. Normally they change it from outstanding to satisfied. I do not think they remove it altogether, but I am not sure.

🙂

 

[StageLeft]

You can repair illegitimate credit items in your reports by calling the agencies and/or companies reporting those. beware - it can take a long time. For example I had some human fvck-bag try to open 3 credit card with my SSN last year and it took me a few hours on the phone getting it straightened out between the credit card companies and the bureaus. Basically in my cases sometimes the CC companies would put this in their fraud department and withdraw the inquiries (no accounts opened with me - just inquiries), and in others they'd put it in their fraud, but I'd have to refer back to a credit bureau and put a dispute through.

This takes time. If you really have 50+ pages per number of yours you will need either a few decades to do it yourself or find a company that will surely charge you money to do it. Unfortunately, given that these accounts were legitimately opened up with your SSN, even though you didn't approve them, you may find it difficult and slow to get it sorted out. Surely you need to consult an attorney/police or somebody similar, but if I had to guess I'd say that you'll need to press charges against your ex-husband and using that you can get your reports sorted out. For one of my fake credit card inquiries I had to actually send in a police report stating that I'd been a victim of fraud to have the inquiry removed. In my case I just called up the police department, spent about 90 sec on the phone (naturally they didn't care, since no cards had been opened up, but they made the report anyway), then I spent the $5 for a copy of it, and sent it along. If you need to do that obviously the police department will follow through since you know who did this.

Goodluck, and see your husband on the chair for putting you through such a hassel.

 

[AlienCraft]

Originally posted by: badmouse
Anyone have experience with repairing their credit?

I finally read through all 168 pages of my credit reports. My ex will be paying for the credit debt he racked up in our settlement. Till then, I'll be able to get/keep everything up to date on minimums, but not much else.

How do you hire a credit repair expert? I understand there are a lot of shady ones out there. How do I find a good one? my credit woes

CREDIT REPAIR IS A FRAUD. DO NOT PAY ANY ONE WHO SAYS THEY CAN "FIX" YOUR CREDIT.
The only thing that "repairs" credit is......
1. Paying off the debts.
2. Time
3. Statements to give reasons for tardy payments attached to credit reports.
4. New regular payment history with a creditor.
5. Challenge ALL dings on credit report.

Hang in there.

Anyone who claims the can remove items, you just need to pay $XXXX.00 is LIEING.
BTW, thanks to the Bankruptcy Act signed into law last year by our Prez, you can no longer discharge credit card debt through bankruptcy.

 

[SoulAssassin]

Originally posted by: badmouse
My ex will be paying for the credit debt he racked up in our settlement.

Rather than just getting him to pay, you can legally have yourself removed from all of the accts in question and basically walk away from them. From there whether he pays them or not isn't your problem. Most cc companies can usually send your a letter that requires signatures of both people on it. Doesn't fix what already happened, but it will help. If the accounts are only in your name it requires adding him to the acct obviously and if he doesn't qualify creditwise, I believe they have the right to deny it (although a fraud situation may be different) so start w the worst first.

As far as credit repair companies go, they're not all scams but they're all definitely shady. Most of them work on the fact that when you send a letter to Equifax, etc stating there's something rotten in Denmark they have x days (60?) to research and respond, these guys send letter after letter, after letter, after letter. Eventually they miss the mark and it's off.

Call the companies, keep your lawyer in the loop, get all promises from your ex in writing.

 

[josphII]

im currently working part time as a loan officer and i refer ppl to a company called Creline, which is a credit repair agency. i dont know the details of what they do, but ppl return after about 3 months w/ a credit score approx 100 points higher. look them up.