who has bad credit ?
 

Do you have bad or good credit?

Bad, I don't finance shit and don't care to fix the old shit.

Bad... I overspent in my youth and must now pay the price!

only idiots have bad credit

Who doesn't? Everything is pretty much designed to keep people in debt. :(

There are companies out there who can repair credit.

Not lexington law I hope.....heard horror stories about them

Weird... I don't have any... Am I doing something wrong? :helpme

nobody can repair credit but you.. all those companies do is use your money to pay off your dedts on a timetable and charge you for it ... anyone can do the same thing , just call up the people you owe and say " hey i have no cash but i would like to get my debt paid off so lets work out a payment plan.."

Those "credit repair" companies should be banned..

The credit system is fairly simple.. you owe someone money they report it to a credit reporting agency and you have bad credit until that report is gone.. or you make 2 "good" credits to outweigh the 1 bad one..

Frankly theres no such thing as "bad credit" . try to get a loan for 10k with NO credit .. you wont..

Now owe a bank 2k , pay it off over 2 years with interest and the bank is your new best friend

Banks dont like to lend money to people who pay their bills on time, their profit is decreased. they would much rather you fuck up and NOT pay them every few months..

yep I agree with you there dude :thumbsup

You are talking about something else. My friend repaired his credit without making payments to anyone, the company fucked around with every loophole imaginable to clean up his score.

well im no expert on credit , but i know a little of how they work, i cant see how or why this company could/would repair his credit for free with no money ..

bad credit , means when someone runs a credit check on you with one of the major credit agencies like equifax in canada , they just a get a report and number back based on claims filed against you .. and as far as im aware they dont remove them by anyone other than the person that reported them ( or who holds the debt if its sold )..

i.e. you owe the phone company , they send you a bill after awhile if you dont pay they make a report of the amount owed to equifax, and it will remain there until the telephone company removes it.. Other agencies can get it done but basically because after awhile the tekephone company "sells" the debt to a debt collection agency for pennies on the dollar. , now they have the right to remove the report from equifax.. so any ageny like a "credit repair place" just does what you can do and thats to call up find out what debt collector bought your debt and make them an offer..

I have only had to deal with equifax once but thats about how it went , and it was over one of those huge box cell phones when they first came out.. that i refused to pay the bill on.. ( i ended up paying the debt for 10c on the dollar )

My credit score rocks.

Credit "repair" is generally a scam or a complex application of loopholes and hope.

The only thing that will repair your credit properly is to manage debt and repay debts according to or ahead of schedule.

They didn't repair it for free, they charged a fee but $0.00 went to old debts. Just one of the things they did was dispute everything on his record over and over and over. They have so long to respond and if they miss the deadline it has to be taken off legally. I'm not sure but I also think they time these disputes with all of their other clients to overwhelm the collectors, that way each time they do it some get missed. :1orglaugh

I'm thinking of a number between 350 and 800, do you know what it is? It's my credit score and it happens to be 783. To get your free credit report go to freecreditreport.com!

:1orglaugh :1orglaugh

The credit repair i am talking about is when the remove stuff from your credit report not the ones who take your money to pay them off for you. I know a compny out here in la who those that and what i have seen is they do it all by the books , nothing wrong with what they do . I think its a great service but that is just my 2cents.

ahh i see . ok yes this can be done , but with some debts it doesnt matter how many appeals you file , your screwed , an even some really small companies will never report the debt to a collector so it just stays on there forever ( or until you pay them directly dollar for dollar :) )

I just meant 99% of "credit repair" places are just people who call your debtors on your behalf and work out a payment schedule for you , and take a cut for doing it..

Like you have probably seen the ads on t.v. " just make one monthly payment , no more headaches , no more hassles lol "

People pay for that shit? :1orglaugh

Smokey your a bit off on some of your statements.

I studied / helped my sister after her divorce go from Mid 500 ficos to around 730 scores now. Will be writing a book soon on credit repair / managing your credit, etc.

1. Never ever pay 1 cent to a "credit repair" company. Total rip off and something you can do yourself for an hour or 2 a week. For almost free - (stamps, paper, etc)

2. It is totally legal to dispute anything on your credit reports per FCPA (Fair credit reporting act)

3. If you dispute in most cases the creditor has 30 days to respond to the CRA you disputed from or that trade line / account will be deleted off your report. (most cases)

4. Never EVER if you are being called, etc and "think" you owe money to a creditor or a collection agency - talk with them on the phone. Always do via US mail.

5. There is really nothing you can't get off your credit reports with a little work, disputes, etc.

6. Always pay your bills on time if you can :)

There are hundreds more hints but am a bit busy right now.

Smokey,

In most cases bad lines / chargeoffs, etc, etc only stay on your reports for 7 years.. 7 years from the last Activity :)

i was just explaining , "they" cant remove anything from your credit report. only the credit agency can.. they can file an appeal "on your behalf" but you can do the same thing..

i.e. lets say you owed a cell phone company $300 but the cell phone company went out of business and had filed a report on you . well then you could file to have it removed based on the fact you cant possibly pay off the bedt because the business no longer exists.

Now what chadgilni was saying was even if the business is running and have sold your debt to a debt collecting agency , if you keep filing lots of appeals , they get overhwelmed by the sheer amount and wont respond so you get i removed based on a lack of response from the reporting agency...

and i suppose theres a chance if you file an appeal that the reporter just "fails" to respond..

These guys likely just find tricks like " filing an appeal right before christmas" hoping the company is swamped at christmas and fails to respond " my point was juts its nothing you cant do yourself.. they dont have a secret batphone to the credit reporting agencies , or elite backdoor access to the computer records..

didnt i just say that ? i agree with everything you said so perhaps you misunderstood me

my point was.. you can do all this yourself..

people with bad credit are complete idiots and shouldn't be trusted with anything more than a blunt kitchen utensil.

very true i do not dissagree with you :)

very well said

Ok dokie, I guess you were saying that :)

Anything can be taken off your reports if you just put a little work into it. If the creditor can't provide proof that it is your debt, or they made a mistake when listing the debt on your credit reports I.E. amount owed is wrong, different address, etc lots of things, you can get it off.

After my sister filed BK, and it was discharged - Bk's normally stay on your reports for 7-10 years, we got it all off in around 1 year or less if my memory serves me right...

Biggest thing - pay your bills on time and use credit to your advantage.. Between personal and biz credit we have several million in lines to use, but mabey have less then 1 % util.

Peace

its not too hard to build back ur credit

Credit cards are great if you use them correctly, they make it easy to order stuff online, save time at the gas station.. etc and many credit cards offer points which you can later redeem for some cool free stuff... but of course you have to pay off the balance each month...