Would like some advice on bad credit in PA URGENTLY!!!! - Posted by Andrew Suge

Posted by Robert Smith on January 31, 2000 at 10:14:56:

James,

A credit repair company cannot hurt your credit unless they try to use fraudulent means to repair your credit history. If the credit reporting agency detects fraud, then they could place a fraud alert on your credit report and you would be worse off than when you started.

I say “never” pay a fee to a credit repair agency for this reason: there is nothing that they can do for you that you can’t do for your self to repair your credit. They will either charge you, or ask you, to get copies of your credit history (TRW, Experien, Equifax). Then they will look for mistakes on your credit report and ask the reporting agency to have the mistakes removed. Next, they’ll contact your creditors, on your behalf, and attempt to negotiate new payment terms. In exchange for your payments, you try to get the creditor to promise to remove certain derogatory information from your credit report. If your credit problems are not bankruptcy related, but just based on too much consumer credit and slow pays, then they will give you information on budgeting. They may also explain debt consolidation. At this point, everything they have done, you could do yourself. Additionally, all of the information they give you on consolidation and budgeting, you could get from various consumer groups for free. Try your local library or a book store for books on credit repair. In the end, the only fees you should pay are for your credit reports, which are about $5-8 each, and postage. The first lesson of budgeting: Never pay for something you can get for free.

Would like some advice on bad credit in PA URGENTLY!!! - Posted by Andrew Suge

Posted by Andrew Suge on January 21, 2000 at 16:14:02:

I bought the Carlton Sheets program about three months ago, and right now i am done with reading all the materials. Now my problem is that I have bad credit. What tecniques would I use to obtain my first investment properties???
Secondly, how would I start, cause I think I am so confused.
Can someone advice me on what to do?? Since I have bad credit, what would be the best way to get mortgages???
I would also like to work with some people who have bought the course in PA.
Anyone from PA please contact me urgently.!!!
Thanks.

Re: Would like some advice on bad credit in PA URGENTLY!!! - Posted by Robert Smith

Posted by Robert Smith on January 26, 2000 at 10:29:09:

Andrew,
Instead of focusing only on obtaining a mortgage, would it be possible to repair your credit AND get a mortgage. RR Smith suggests that you provide, in general terms, additional information about your credit problems, that might be helpful. Depending on what your specific credit problems are, there are FREE services in PA which will assist you in restoring and maintaining your credit. Look in the yellow pages of your phone book. Just remember to NEVER pay a fee to a credit repair company. There are also a few books by a guy named Bob Hammond (titles such as “Credit Secrets: How to Erase Bad Credit”) about using various guerilla tactics to repair your credit. I have used some of his methods (letter writing campaigns) with great success. I think I would have gotten the same information for FREE from the consumer credit protection people found in the Yellow Pages, but some of the methods he discusses are not legal or walk the line of illegality. For the record, he states that he provides these methods for “informational” purposes only.
Good Luck!

read the course again - Posted by RR Smith

Posted by RR Smith on January 21, 2000 at 18:18:19:

Read and listen to the courses materials on improving your credit and go to banks (and credit recording companies) and do the work. Shop for NonQual. (NQ) mortgages (a very small subset) and make good offers on just those properties. After trying to teach different people REI it seems like some people just don’t get it. There is something about American use of credit and leverage that is just plain wrong by nature. Plus we need more DETAILS TO HELP you in your struggle comrade. First what is this horrible problem with your credit? Chapter 11, car repo or C other? What town in PA? Philly where there is plenty of REI clubs? or Allentown?

Re: Would like some advice on bad credit in PA URGENTLY!!! - Posted by James

Posted by James on January 31, 2000 at 09:25:31:

You say "NEVER pay a fee to a credit repair company."
Is there a reason, besides it costs money, that one shouldn’t do this? Does it put a bad mark on your credit rating to pay someone to do this? How would it show? Please clarify so I’ll know.