credit repair - Posted by Derrick

Posted by Geoffrey Faivre-Malloy on December 12, 2000 at 09:10:06:

CooL! Great web site with good info. Guess it all comes down to buyer beware. I’ve been scammed by some of those companies that allege to repair your credit so I’m especially cautious. Too bad I didn’t know about this site earlier! :slight_smile:


credit repair - Posted by Derrick

Posted by Derrick on December 11, 2000 at 20:05:55:

I have a low credit rating& was offered a 2yr. lease option. to avoid a non-conforming loan, I was told by a friend while lease optioning to do a credit repair and when option ending my credit will be blanketed and I can obtain a low interest rate through a conventional loan. any comments on credit repair?

Re: credit repair - Posted by Jonathan Rexford

Posted by Jonathan Rexford on December 12, 2000 at 06:08:49:

I have to agree and dis agree with the posts below. There are Legitiment credit repair companies. I have used a few through my mortgage Company. There are companies that Charge enormous fees and promise the moon. I read and bought several programs regarding credit repair. Getting a Fake SS# or FEIN# will get you in trouble. As far as writting letters asking verification that is not against the law. There are laws that protect the consumer regarding your credit. Some of the credit repairs that I have seen have had Bankruptcies taken off…were the legitiment debt…Yes they were but they were reported wrong. We were able to place them into a home 4 months later. There are over 321 laws regarding Fair Credit Reporting Act. It sure is not about writting letters any more. You can do it your self…but we hired professionals that do this for a living. If you do choose a company ask for references or do it yourself. Here is a website that has some information.

Hope this helps
Jonathan Rexford

Re: credit repair - Posted by Geoffrey Faivre-Malloy

Posted by Geoffrey Faivre-Malloy on December 11, 2000 at 23:17:57:

Any credit repair scheme that will have you getting a new social security number, sending large amounts of letters over and over to the credit agencies denying what what is on your report and/or changing your name is FRAUD. Be VERY VERY wary of these types of organizations.

You can “fix” problems with your credit (legally) in two ways:

  1. Work with Credit companies to make sure inaccurate items are fixed.
  2. Start paying on time and work on re-establishing your credit.


Re: credit repair - Posted by dewCO

Posted by dewCO on December 11, 2000 at 22:48:41:

Haven’t had any direct experience, but careful, be very careful. Have heard they promise everything and some deliver 0.

Have you seen a GOOD loan officer. They should be able to tell you what you need to do to be ready to buy. Talk to several maybe to find out—shouldn’t cost anything. Hope there is time, would hate to see you spend money you don’t need to.