GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Is credit repair a scam or can it be done?

SuckOnThis · 09-04-2004, 08:16 PM

I went from a 300 credit score to over 700 in a matter of two years. One time a real estate agent laughed and said I had the worst credit he's ever seen. Now I have close to a million dollars available in credit.
So here's the lowdown.

You can clean up your credit but it takes time. Depending on your goal I would not advise paying anything that is already in a 'writeoff' status. Not right away, unless you are trying to buy a house then they have to be paid. Start by getting a copy of your credit report from all three agencies. Mark all negative items, usually they will be the same on all three reports but once in a while you will have a few thats not on all three. Find the oldest two on one report and dispute it with that agency only. Do not dispute the same thing with all three agencies at the same time. You do not want the creditor you are disputing to get contacted by three different agencies at the same time (unless of course its a valid dispute) because you are hoping that they forget to respond within 30 days. If they get contacted by all three most likely it will motivate them to send a response. On the second credit report dispute two others and same with the third. The reason to do only two at a time is because if a credit agency thinks you are disputing things erroneously they will not investigate at all. After you have done this wait until you get a response from the credit agencies, they will either tell you the negative mark is valid or they will remove it. Then do the same thing again with two more negative items and so on. If you're lucky you can get about 50% of the negative items removed. The ones that you can't get off you contact the company you owe the debt to and ask them if they will settle for half of what you owe, usually they will unless its a fairly new debt. After you reach an agreement tell them your only motivation for paying the debt is to clear your credit and would they please remove it completely if you pay them. Most will do it but not all. The ones that won't you will just have to live with but hopefully you will only have a few negatives at that point and they will eventually drop. Then get yourself a secured credit card and start building your credit from there.

09-04-2004, 08:16 PM
SuckOnThis So Fucking Banned Join Date: Oct 2003 Location: In my head Posts: 6,844	I went from a 300 credit score to over 700 in a matter of two years. One time a real estate agent laughed and said I had the worst credit he's ever seen. Now I have close to a million dollars available in credit. So here's the lowdown. You can clean up your credit but it takes time. Depending on your goal I would not advise paying anything that is already in a 'writeoff' status. Not right away, unless you are trying to buy a house then they have to be paid. Start by getting a copy of your credit report from all three agencies. Mark all negative items, usually they will be the same on all three reports but once in a while you will have a few thats not on all three. Find the oldest two on one report and dispute it with that agency only. Do not dispute the same thing with all three agencies at the same time. You do not want the creditor you are disputing to get contacted by three different agencies at the same time (unless of course its a valid dispute) because you are hoping that they forget to respond within 30 days. If they get contacted by all three most likely it will motivate them to send a response. On the second credit report dispute two others and same with the third. The reason to do only two at a time is because if a credit agency thinks you are disputing things erroneously they will not investigate at all. After you have done this wait until you get a response from the credit agencies, they will either tell you the negative mark is valid or they will remove it. Then do the same thing again with two more negative items and so on. If you're lucky you can get about 50% of the negative items removed. The ones that you can't get off you contact the company you owe the debt to and ask them if they will settle for half of what you owe, usually they will unless its a fairly new debt. After you reach an agreement tell them your only motivation for paying the debt is to clear your credit and would they please remove it completely if you pay them. Most will do it but not all. The ones that won't you will just have to live with but hopefully you will only have a few negatives at that point and they will eventually drop. Then get yourself a secured credit card and start building your credit from there.