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PeterKL

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Should I go with a credit repair firm? Looking for feedback.
Hello, just trying to get some feedback on my current situation.

Current scores are mid 600s with 2 negative notes on my account.

One is a a $90 collection that was a mishap with Verizion. There was an extra account opened they failed to mail me any bills for it. I paid it once I found it on my report.

Second item is a charged off CC from Wells Fargo. Roughly $4400. It looks like it hasn't been sold off as it still shows up in my WF account and my credit report doesn't report at Sold. They did offer to settle for $2600 but I'm not sure if paying it would do any benefit. I believe it's set to stop reporting in 2019.

Spoke with someone from GoCleanCredit yesterday regarding their program and available options. They offered to handle the dispute procedure for those two items for a one time fee of $700. I'm not sure if this is a reasonable price for the services offered. It sounds like they would just be sending dispute letters to the credit bureaus.

Wouldn't these be things I could do? Or would it be better off letting them handle it for the price as they know more about statutes and laws and such?

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$700 is absolutely ROBBERY!!! Do not do it!!!

Ok, what you should have done with the Verizon account was to offer a pay for delete agreement, where you would have paid them and they would have removed the account from your reports. Since you already paid it, you cannot do this now. If you find any incorrect information about this account on your credit reports you can dispute the information and hope for a deletion. If you cannot find anything incorrect to dispute, then start begging verizon to remove it from your reports. Do some research on how to write "goodwill letters".

As far as the Wells Fargo CC, attempt a pay for delete offer. (you pay it, they remove it). Google "pay for delete" to learn more about it. I am not sure if they will do pfd agreements or not, but it is worth a try. You may have to pay the full amount though to negotiate a deletion. If you cannot get them to do a pfd, then the next best thing is to settle the account for less, but try to get them to not put the "for less" remark on your report.

Making a deal to get this thing paid would be good even if it does still show on your reports. For one thing, it would keep a collection from popping up on your report if they decide to sell the debt, secondly the $4400 may be calculated into your utilization rate and that would be hurting your scores. Be aware though that if the account is not updating monthly now, when you settle it, it will update and will cause a ding because the account will look fresh, the damage would subside after time though. If it is updating monthly now, getting this taken care of should get it to stop updating, thus helping your scores start to rebuild.

These "credit rebuilding companies" cannot do anything more than you can. It is outrageous that a company would charge you $700 for something that you could do in 15 minutes. Likely all they would do, is charge you $700 and dispute the 2 accounts on your reports and hope they get removed, then most likely charge more for a more aggressive plan.

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????

Helpful to 3 out of 3 people

I used Lexington Law. They did great for me. Just use their services for $99 a month . In 3 months i cancvelled service with them and my score has improved tremendously

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like every things  else this days  computers  have make everything better, nothing that a credit repair firm  can do that  you can't do  yourself.

thanks too credit  karma  being the onlt true  free credit  report i have bee improving  my sub  400 credit  score to 538 transunion  5000 eqifax   by me calling the  creditors and  asking them  about repayments  and when and  if they can delet the  negative  report from my credi they all have don that  my score  increase as a  direct result  of paying  my debts.   save you  700.  fuse that to pay you debt instead.

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Helpful to 1 out of 1 people

in other words  do it  yourslef  you know what was deragotory  info correct it  pay it off ask for it to be delated

the credit firm  will have you pay your debt as well as paying them too  why pay for two accounts  when you can  do it  for the price of one  Lol

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