Credit Repair Anyone???

  1. I used to have a great credit rating. Recently I applied for an auto loan and found out it had dropped by over 130 points and I no longer qualify for low interest loans. I used to be able to get a 0% interest loan on a car.

    Anyway...making a long story shorter...I found out the only problem is that I had 4 small balance credit cards (less than $150) that I had paid late once or twice and the cards are now paid and closed.

    I've never been late on a house or car payment or anything else. This seems so crazy.

    There are firms out there wanting to charge 1,000's to fix credit, I realize they are basically scams. Has anyone fixed their own credit with any success. I understand if you write to the company in question to remove late payments that they have 30 days to respond and if they don't (and they usually don't bother) then they have to remove the late payment no questions asked.

    Advice anyone???
  2. 3 Comments

  3. by   llg
    I wasn't in your situation, but I did have a problem with my credit report and was able to fix it with just a phone call to 2 out of the 3 credit-reporting agencies. So I think it is certainly worth your effort to give it try. I would call them and ask about their procedures and find out from them how long it will take to bring your score back up if you conscientiously make payments on time from now on.

    It sounds as if you have a history of making late payments on multiple accounts with small balances that have been resolved -- rather than a major "ding" such as a going completely bankrupt and not paying your debts at all. You may find that your score rises again fairly quickly now that you have resolved the problems. That's something I would ask them when I called.

    I would also submit a statement about the resolution of your late payments to be added to your credit report.

    Good luck
  4. by   DutchgirlRN
    Quote from llg
    I would also submit a statement about the resolution of your late payments to be added to your credit report.

    Good luck
    Thanks llg, excellent suggestion...I'm going to do that.
  5. by   CHATSDALE
    i had same problem when i moved and post office witht heir usual brains didn't get my mail to i pay everything possible online

    do not pay anyone for 'fixing your credit' you can do anything they can do per phone or on line..if worse comes to worse pay a higher rate if you really need transportation right now and try and pay it off as soon as you can..really can save a lot on interest and by then this will have been wiped off your record..late chargers only stay on like 5 years from date of occurance
    good luck