Talking with a Credit Repair Specialist

[E46R]

Hello everyone,

I am new here just registered. I was looking at some of these guides and do have few question for anyone that is willing to help out.


There are some incorrect info on my report and I would like to get it removed. Right now I taking with the Credit specialist who I was told is good and been in the business for 20 some years. So I've met with the person showed him the copy of my credit report and was told that we can get some of these removed - and here is how he tells me it works.

1. Signed a contract
2. Pay only if get things removed and or changed for positive.

3. Once he does the first challenge the result comes to my house then I have to give him back the ORIGINALS - and may keep the copy if I wish to. (That is kind of strange where he wants the original credit report after challenge - can anyone answer why does he want's the originals that come from the three major credit bureau) I have asked him why and the response was this is how he works and he needs the originals just in case he get's an audit.

4. I never get to see and or any copies of paper work of challenges that he sends out on my behalf - I asked the person again "WHY" and was told that is how they work. My only concern is that I would like to see what he is sending to them just in case it comes back to me later.

5. The person will continue working on my file until I say to stop.
6. I get the pay person only for the marks that get moved and or changes. (I guess that is the good thing.)

I only have concerns with #3 and $ - is there something to be concern about?

Is there a way for me to get copies all of the paper work that the person is sending on my behalf from the credit bureau - would there be a reason for it?

Why does he wants the original responses from credit bureaus?

These some of the questions that I have, anyone has any idea?

Thanks.

[Trish]

Hi......and welcome.
I do not have any first hand experience with credit repair companies but chane might offer some advice since he has a lot more knowledge regarding this.

Good luck.

[chane]

How much is he charging you?

It's not a big deal that he wants to keep the originals. There is nothing fishy about that.

Same with him not letting you see his letters. That is pretty much his secret recipe. It's what distinguishes him from other credit repair companies. If he gave you that, you could sell it to his competitor, fire him and use it yourself, or let tons of other people use it...which would render it useless.

So, that is smart and correct of him to do it that way.

[E46R]

Hi thanks for the reply..

He is charging me $50.00 per Item - meaning let say I have a discover card and had 30,60,90 days late on three credit bureaus he will only charge me 50 bucks to get it cleared (one Item - one credit card)up for this one item from these 3 credit bureaus. I guess that is not so bad what do you think?

Btw - he made me sign power or attorney which states that I give him one and make him liable free of any damages of any kind so if things go south I can not go after him. Is that normal too?


The reason I was asking about the originals I wanted to make sure that he putting down in some info on my behalf that is not true or illegal, just in case I need to reference it later it someone would come back. Can I get a copy from three of the credit bureaus of what he is sending on my behalf - is that even advisable?

Anyone has any thoughts.

[chane]

$50 per item is very expensive. Especially if you have a lot of negatives. When I was doing credit repair, most people had over 10 items on each report, that's 30. If you were able to get 7 from each report, that would be 21. 21 x $50= $1050. That's absolutely ridiculous.

We had one person who had over 80 negatives on each report.

Check out Lexington Law, especially if you have a lot of negatives.

[E46R]

This is how this works.


Based on your example 7 accounts x $50 = $350 NOT 7 x 3 (3 credit bureau)
Maybe I mis spoke it is per account. If I have two credit cards Chase and Discover and have lates on them that would be considered 2 accounts even if they are reported to three credit bureaus - so 2 accounts x $50 that is $100.

Each account is counted as one not as 3.

And is there a way for me to get the copies of the challanges that he is sending on my behalf?

[chane]

Originally Posted by E46R

This is how this works.


Based on your example 7 accounts x $50 = $350 NOT 7 x 3 (3 credit bureau)
Maybe I mis spoke it is per account. If I have two credit cards Chase and Discover and have lates on them that would be considered 2 accounts even if they are reported to three credit bureaus - so 2 accounts x $50 that is $100.

Each account is counted as one not as 3.

And is there a way for me to get the copies of the challenges that he is sending on my behalf?

That doesn't make much sense. What if it is on all 3 credit reports and he only gets it removed from one? Or two?

No, I already mentioned that he will not give you a copy because it could hurt his business. And you don't ever want to try to contact the credit bureaus while he is... 1.) because they are not there to help you. They don't care about you. They would prefer that you none of us would ever contact them. We cost them money and 2.) it will only sabotage what he is doing.

If that bothers you, you need to write the letters yourself. No credit repair company will ever let you see what they are sending on your behalf.

[E46R]

It's new to me and I reather as one of you guys how this works- since you have more knowledge and experience. Can anyone tell me how long does it take to do a credit repair. I have less then 10 items on there. I want to make sure that there is nothing wrong on that this person is doing with my file, one last thing he made sign a waver that is he not resposbile if something should go wrong. How do they do it at Lexington- law?

[jessetsi]

You should do some research around the web site...
It might help you understand the process a little bit. There is a beginners start here thread. This website has everything you need to do it yourself. If you want to pay someone, that may be your best option if you chose not to do some heavy research.
I think for 20 years of experience, $50 per negative is a good price.
If I remember correctly Lexington is $99 to start and $59 per month...
You do the math...

[E46R]

Hi all, EQ came in this morning and got 90% of items deleted of the report - this would include judgments. This is just equifax let's wait and see for TU and EX.

Thanks.