Credit Score Diaries: Journey to an 850 Credit Score

Wednesday, June 13, 2012

The Truth About Credit Attorneys

Credit Attorneys Have Become "Disputing Companies"

Author: L. K. Hughes, Credit Repair Consultant

Have you ever been so mad at a creditor that you wanted to sue that creditor? Did you ever picture unleashing a rabid attorney that scared your arrogant creditor into submission? Well these days, attorneys have more bark than bite. They don't even really bark.

For this entry in my credit diaries I thought I'd share with you my experience with talking to four credit attorneys: Lexington Law,, Fowler and Fowler, and Baxter and Baxter. Ads about these firms are plastered all over the Internet now--at least the first three which are national, the last one is one local to the Northwest, a firm I picked out of the Yellow Pages.

As a Credit Repair Consultant I know that at some points it becomes important to challenge the creditor through the justice system. I've known people who've filed small claims suits against their creditors--big ones too--and have won their suits. I personally had an item I felt was unjust on my credit report --a thirty day late on MBNA credit card that got stuck in their phone payment system for three weeks. By the time I learned of it it took a week to get another payment off and I was stuck with a 30 day late. I was angry.

Lexington Law and are the same company, and what they do is take your money, anywhere from $40 to $140, to dispute a credit item for you! If you are familiar with credit bureaus, you can do this for free! Then I looked up Baxter and Baxter, the only company in the local phone book that deals with credit, and they didn't want to handle my case--I was 30 days late, and the phone payment system that had caused the error was a 3rd party and not MBNA! They thought the case was too complicated. Then I signed up with Fowler and Fowler, who promised to write "prove and remove" letters, and the result?

A year and three months later, the item is still on the credit report, and Fowler has supposedly sent 2 threatening letters to MBNA, the creditor, and the credit bureau.  However, MBNA merely responds with a form letter and stands firm on their ground. The credit bureau's response is "contact your lawyer". Will I hire Fowler to go to court? Will they even go to court? I suppose I could ask them, but I think not. I have ways of temporarily raising my credit score, the ones I share in my book " Improve Your Credit Score in 24 Hours".  I was able to buy an RV recently with these techniques.

Then there's always Small Claims Court. So much for attorneys.

Good luck with Improving your Credit Score!

L. K. Hughes is a Credit Repair Specialist and the author of "Improve your Credit Score in 24 Hours"

Monday, June 11, 2012

Improve Your Credit Score In 24 Hours?

If you are like lots of people these days, you are thinking of shopping for a new home or new vehicle loan. Why? Because interest rates are still the lowest they have been in 40 years, and now is a better time than any to get financing.
I just bought an RV myself, and I remember the nervous feeling while they pulled my credit score at the dealer. 668 *whew*. Not bad as it turns out.
Many people don’t plan ahead and pick up their credit score before shopping for a loan to get the best credit possible. A lower credit score (one below 620 or even 650) can mean the highest interest rate and highest monthly payments. A score of above 720 means the lowest rates possible. Having the best credit score you can have means saving thousands of dollars over the life of your loan. How can you raise your credit score in a quick period of time, and save?
There are several ways to improve your credit score in just a day, or even hours. One is called the "rapid rescore" process, offered through your mortgage officer only, by a company called Access. With this system, you must do legwork to change your credit report contents yourself.. So for instance, you might
have to pay off certain collections or liens and call the credit bureau to change your credit report contents. The rapid rescore process gives your credit score a second look within a day or two so that any improvements will show on your second credit score. The drawbacks of this process if you can only do it through a mortgage broker, and also, you must have something that you can improve quickly on your report such as paying off a collection or a card balance.
Another way to improve your credit score quickly is to use techniques to temporarily "bump up" your credit score. I talk about these in my ebook "Improve Your Credit Score In 24 Hours". I also provide special phone and fax number info for credit bureaus. Depending on
which creditors and credit bureaus you use you can many times cause your credit a temporary "boost". Techniques like this are a great "survival skill" in your credit career. I think they are the best because they work no matter what's on your
credit report.
People are getting more financial savvy these days with gurus like Suze Orman telling folks about their FICO scores (another term for credit scores). I
think it is good because having credit knowledge before you make large purchases for things like homes or cars can save you thousands of dollars and put more money where it belongs, your investment future.

Good luck with Improving your Credit Score!

L. K. Hughes is a Credit Repair Specialist and the
author of Improve Your Credit Score in 24 Hours

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