Q&A Credit Repair

Unfortunately, simply paying a collection account without getting it removed often won't improve your credit scores. With few exceptions, as long as a collection account is listed on your credit reports, it'll have a negative impact on your credit scores.

A credit score of 900 is either not possible or not very relevant. The number you should really focus on is 800. On the standard 300-850 range used by FICO and VantageScore, a credit score of 800+ is considered “perfect.” That's because higher scores won't really save...

The credit bureaus will automatically delete the negative items from your credit report once they're scheduled to be deleted. But, if old accounts are still on your credit report, you can use the dispute process to have them removed. Note that the credit reporting...

Some credit repair companies, however, are legal, legitimate, and helpful. If you have inaccurate information on your credit report, they may be able to remove it, saving you time and hassle. But unless your hourly income exceeds the fee that the credit repair company...

Ask lenders if they originate loans insured by the Federal Housing Administration. FHA-backed loans are available to any borrower with a credit score of at least 500. If your score is 550, you can apply for an FHA loan that requires a down payment of 10 percent of...

Most damaged credit can be fixed over time. In some cases, your best option is to hire a lawyer that specializes in credit repair.

In addition to costing more money, bad credit limits your financial options and threatens your fiscal stability. If you're looking to make a positive change, the time is now. At Creditrepair.com, our cost is $99.95 per month, plus a one-time charge of $14.99 to obtain...

Thanks for your question. No, hackers can not change credit scores without creating a major data breach with the three credit bureaus. However, hackers CAN steal your identity which can absolutely destroy your credit score.

Send the collector a letter stating your interest in paying the account. Offer to make payment if the collector agrees to remove the entry from your credit report. If the debt collector agrees, ask for a signed copy of the letter to you to seal the agreement. (Sample...

So whether or not you pay your collections off is really a personal decision. What FICO is saying here is that paying off a debt in collections won't improve your score. One of the big three credit reporting agencies, Experian, agrees. ... In short, paying debts in...

This is because it is often beyond your control. Also, it can drop more than 100 points off of your score, and can stay on your report for 7 years. The current FICO algorithm does not differentiate between medical collections and any other type of collections – they...

 If you have any unpaid collections or charge offs, the best way to get them removed is to negotiate with the creditor or collection agency and offer to pay the unpaid debt if they agree to delete the negative entry from your credit report. This is very effective as...

 Legitimate credit repair companies... ...will only charge for credit repair services after they have been performed. ... It is because of this that the Credit Repair Organizations Act specifically forbids any credit repair company from accepting payments in advance.

If you can't find the time or don't want to deal with the credit bureaus, you can pay for professional help. However, it's expensive and credit repair professionals won't do anything you can't do yourself, according to the FTC. ... Your credit history may be dim, but...

Credit repair may not have the best reputation as financial services go, but it's a federally protect right. ... It's important to note that credit repair is legal in all 50 states. There's a federal law that guarantees consumers the right to dispute information in...

Unfortunately, simply paying a collection account without getting it removed often won't improve your credit scores. With few exceptions, as long as a collection account is listed on your credit reports, it'll have a negative impact on your credit scores.

Some credit repair companies, however, are legal, legitimate, and helpful. If you have inaccurate information on your credit report, they may be able to remove it, saving you time and hassle. But unless your hourly income exceeds the fee that the credit repair company...

In general, credit repair takes about three to six months to resolve all of the disputes that the average consumer needs to make. Of course, if you only have a few mistakes to correct or you repair your credit every year, it may not take as long; you might be done in...

A legitimate credit repair company removes negative items from your credit report and helps improve your credit standing, making it easier to obtain a mortgage, car loans, credit cards or insurance. ... No credit repair company can guarantee that a bad score will...

In addition to costing more money, bad credit limits your financial options and threatens your fiscal stability. If you're looking to make a positive change, the time is now. At Creditrepair.com, our cost is $99.95 per month, plus a one-time charge of $14.99 to obtain...