Are credit repair services legit?

Mirer14
Rep Points: 270

So I just got a copy of my credit report and I have 3 charged off accounts on there from 3 years ago. I found a credit repair agency online that claims it can remove them, but are credit repair agencies legit? :confused: I am applying for a mortgage soon and I need these off ASAP.

Xenigo123
Rep Points: 230

Depending on who you are going through they are legit, but they aren't doing anything for you that couldn't do for yourself. The Fair Credit Reporting Act gives you the right to dispute any item on your credit report that is inaccurate, outdated, etc., but since most people aren't aware of this the credit repair agencies act like they know some hidden loophole that is really available to anyone.

Jeremy
Rep Points: 1,275

Xenigo is exactly right. They really just walk you through the process of what you can do yourself. Not all items can be removed, but it most cases you can talk to the lender and find out what it will take to get them to remove the item. Usually paying back the amount owed with interest and fees.. You can also wait seven years for it to disappear naturally. Another good thing about the Fair Credit Reporting Act.

chrissie1101
Rep Points: 500

Jeremy and Xenigo hit the nail on the head as to anything I would have responded with. Great job!

sigs
Rep Points: 510

Why dont you try [url=http://www.creditscoresystems.com/]Credit Repair and FICO Score Improvement. Break free of[/url] . The site has some good form template letters.The whole site isn't free, but there are various resources that could help anyone out here in need of help, without having to pay.

usualdamvp
Rep Points: 800

Some of them are legit. you just have to research the company. See how they would help you without it costing you big fees.

scriptdude
Rep Points: 340

there are orginizations like fanny mae that do this for free

dovic1
Rep Points: 510

Yes there are some credit repair companies. Just make sure you read all contracts before you sign anything.

saddy
Rep Points: 200

[QUOTE=Mirer14;9]So I just got a copy of my credit report and I have 3 charged off accounts on there from 3 years ago. I found a credit repair agency online that claims it can remove them, but are credit repair agencies legit? :confused: I am applying for a mortgage soon and I need these off ASAP.[/QUOTE]

Terms and conditions differ from company to company, it is better to read the terms documents before signing on to these documents!

bellagirl
Rep Points: 475

i guess the wait 7 yrs option is out tho if you are applying for a mortgage. gl, keep us posted!