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Credit repair agency and credit repair services offer help or do they?

Wed Feb 27, 2008 01:02PM | By Tony

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We always say that the best credit repair service you can find is yourself. While there are occasions when you think you need to hire a third party credit repair agency, few if any deliver on their promises. Most will take your cash and do close to nothing, others will try to do something if not outright illegal but rather unworkable, and still take you money. Here is the exchange with a reader.

Q: I have 11 derogatory trade lines on my credit report, all quite legit I hate to admit, and have been talking to a credit repair agencies for few days. Most are just crooks, but one credit repair service offers what they call a 'total credit repair'. For $625, they promise to remove all 11 bad credit records within 3 to 4 months. When I pressed for details on how exactly they would go about it, I was basically told the following -

The credit repair agency will dispute simultaneously online all 11 credit trade lines with all credit reporting agencies involved in each trade line, following up with dispute letters within 3 business days, hence total repair. They assure me that some will be taken off right away, while others may require additional letter or two. I was told that 30 days must pass before the second letter is sent. Does that sounds fishy?

A: Fishy or not, first why can't you do it yourself? For $625 I can do few exciting things instead of giving it to credit repair agencies. All you need is a computer, Internet access and few hours of your time. Instead of watching Oscars or Oprah, repair credit. As far as if this thing is workable, the answer is no. Yes you can get your bad credit records removed by using these tactics, which I believe is perfectly legal, but it is only my opinion. Once you start disputing, the credit reporting agencies often put 'DISPUTED BY CONSUMER' or remove it while verifying. Once verification comes back proving that the derogatory accounts are indeed yours, they will reappear. No matter what some credit repair agency or service tells you.

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