William asks…
Credit repair through real estate agent?
The realtor(or realtist according to his business card) we are working with in buying a house offered us a plan to improve our credit so that we can get the best rates possible. My husband is all for it but I am a little hesitant since we dishing out $750 for a start up fee and $250 monthly for his assistant to call, write personal credit letters, one on one coaching, among other things to get us both at a 650. I am concerned since this is alot of money and I looked on the BBB website and cannot find this credit management group or even her real estate agency in its reports. How do I tell this is a legit operation and not just someone trying to scam a young couple out of a few thousand dollars.
Stan answers:
Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – buildcredit.ifastnet.com
Steven asks…
how do I go about writing a letter to repair damage I ve done to someone else’s credit?
I was paying on my son’s car loan since he didnt want the car anymore. It was late several times and I paid the late charges. Now, I want to have the negative marks taken off his credit due to my bad situations. How do I go about this?
Stan answers:
It would be a complete waste of time. The loan was in your son’s name and he was responsible for it. The late payments will remain and just have to age off his credit.
Lisa asks…
credit repair questions?
hey all,
We are trying to repair our credit for many years now. from our experience we have been sent letters back from credit companies telling us that our credit on there is valid and that they will not be changing it. My understanding is that they have to provide proof of this and yet that havnt. What is the best way of action to get these 3 companies to start removing items and what is the best site out there that provides me with all three credit reports all in one for free? Also please provide me with a couple of sites that explain in detail in help regarding steps to do and sample letters that are current that i may use to get my point across.
thank you kindly
please provide actual answers or i will delete the question and then no one gets any points even for just posting. Why is it that i get dumb dumb answers that are evident. The point of questions on Yahoo answers is to get info based on your question not just to post idiotic posts.
thank you
as well annualcredit costs money with alot of there services. And please dont provide the common answers that they can only keep info on there for 7 years we know this everyone knows this. The problem is obvious “removing this stuff” if you dont have experience in this please dont answer as you will not get points anyway. Sorry to all those that do care about answering but you have to understand my frustration with alot of kids answering on here or people that just are answering on common things they have heard.
thanks again
Stan answers:
I understand your frustrations on here. And believe it or not, many of the answerers ‘do not’ know that they can only report credit/loan debt for 7 years. Yet they answer anyway.
If you are wanting a 3in1 report for free – they do not come free, plus the 3in1′s are not always accurate themselves.
The best place to get your free reports is from the government FACT-ACT site www.annualcreditreport.com (as some of the others mention)
The government considers any other (so called) free report sites nothing but scam sites.
You can get your reports for free, but you cannot get your scores for free from anywhere.
But, using a free report could work against you, unless you got the free report from being denied credit.
As long as the credit bureaus are reporting inaccurately, you can dispute the inaccuracies. If you use the free reports to dispute from that will give them an extra 15 days to investigate (45 days). Which could mean the difference in an inaccurate tradeline remaining instead of being deleted. If you dispute with a paid report (or a free denial report) from each bureau they have 30 days to investigate.
(even “how” you dispute can be a factor in it remaining or being deleted)
The question you had asked is rather broad.
Alot of how you deal with the baddies on your report depends on a few factors, such as – if you are dealing with the original creditor or a collection agency and if what is reported is accurate or not.
Or if the accounts that are reported are even yours or not.
How you deal with the companies depends on if you are dealing with the original creditor or a collection agency.
When you request debt “validation” from a collection agency, they “must” provide it. If you had requested validation within the first 30 days after they first contacted you, they “must” halt “all” collection on the account until they provide validation.
If the collection agency had place the account on your reports before giving you time to dispute or request validation from them first, within the first 30 days, that is a violation.
If you are dealing with an original creditor, they must provide “verification” of the debt
I have been to quite a few do it yourself credit repair sites on the web and while some are pretty bad, there are a few good sites. Never pay a site for info that you can get for free.
You might check out the site I’ve listed. Do some reading in the Newbie Forum first and then in the Credit Forum.
It is a totally free site and has a very large database of legal information and letters to draw from. Plus there are many members on there that can help answer or explain any questions you may have. Quite a few of the members have been, or are now in the same boat you are in.
Many of the members who ‘have’ been in that shape have stayed around to help the newer people. And, there are quite a few members that are constently reading through the FTC, FTC opinion letters, FCRA, FDCPA and state statutes to find anything that may help others.
Mark asks…
How long does it take to repair your credit?
I have begun repairing my credit. I’ve contacted collection agencies to make settlement agreements and everything but I haven’t heard from them and it has been 2 or 3 weeks since i sent out the first letter. I need to raise my score that depleted during my divorce. Is there anything I can do to speed up the process?
Stan answers:
It could take up to a month for them to respond. Also if you did not do a pay for delete then it will be another 7 years for the negs to fall if you pay them. You score will start to rise after two years though. Best advice would be to dispute the neg. On your credit report before you pay them. Unless they are going to sue you. Otherwise you are just resetting the deliquency date. You can visit creditboards.com for info and sample letters on how to dispute. Also make sure you don’t miss and future payments on credit cards. And open some new accounts if you dont have any revolving credit accounts so you can start building a new and positive credit history. They have credit card just for people like you. YOu can comp;are the rates and fees and apply online at http://creditcardwarehouseonline.com or http://creditcardwarehouse.ecreditdirectory.com/
Richard asks…
What’s the best and fastest way to increase credit fico scores?
wondering if old charge offs ‘fall-off’ your credit report after 7 years? 10 years? Do any of those credit repair services work? Heard about writing letters to creditors and if they do not respond in 30 days, the item must be erased from report–true?
Stan answers:
Credit history is reported on you FICO for seven years. After that, credit card companies (and mortgage firms, etc) do not have access to that information.
Bankruptcies may last up to 10 years before falling off the grid. (Depends on state law)
As for the best way to improve your FICO:
1. Steady payment history is the best — pay your current bills on time (do NOT let past bad performance discourage you from not paying your bills now!)
2. Take care of unresolved debts (if you have been contacted by a debt collector, try to work something out with them; otherwise contact the company — the goal is to have the old debt listed as “paid in full”, which is much better than “settled”)
3. Make sure that your credit cards are not maxed out (FICO looks at the ratio of open credit to used credit — too little open credit hurts you)
4. Make sure that you do not have too many lines of credit (if you can pay off and close some credit cards, that is good. As to which ones, it depends on interest rates — get rid of high interest cards — and payment history — keep the cards with the longest GOOD payment history)
5. Yes, there is a time limit in which a creditor must respond to you if you dispute a charge or a debt amount (I can not remember if it is 30 or 60 days, but that should be easily found on the internet)
6. Be careful of debt consolidation services — most are rip offs. Some are good. Check with the better business bureau.
7. Remember that one payment towards an old debt is a REAFFIRMATION that you are responsible for that debt.
That’s all I have. Sorry, not a professional. 
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