I just heard an audio teleconference of Tracy Ballard who claims she removes all the negative information from credit reports (for a hefty fee of-course). I was wondering if someone got any experience with that.
Thanks.
You can do it yourself but it doesnt happen overnight. Check out www.creditboards.com they have the best info on that.
I would be very skeptical of anyone claiming to remove legitimate information from your credit report. They have to operate under the same rules you would to challenge info in your report. The best they can do is gum up the works, maybe get a couple items removed because a creditor does not respond within the alloted time and cash your check (imo).
Be careful when delving into credit report repair. Once you get the credit bureaus to open an inquiry into your account they are just as likely to alter data not part of your request as they are to fix the problems. This from personal experience.
True, just check credit boards you can get innacurate information removed.
Office Max and Staples have “kits” with forms that you can use to send to creditors to dispute erroneous information.
It will not happen overnight, but it is much more cost effective than having someone do it for you.
All good advice. Another reason to tackle inaccurate information in your credit report yourself is to learn and understand the process. Credit files are not rocket science or magic and should be well understood by all consumers.
Thats right and believe me most people do have inaccurate items on their credit reports whether it be the date account was opened/closed, payments credit line and on and on. Check it.
Thank you very much for the valued input from all. CreditBoard.com is really an awesome site.
As I mentioned in my original post, Tracy Ballard claims on her conference call (available on this website) that she got inside connections with credit bureaus and collection agencies to get the negative information removed. She also runs a company Success Credit Services.
My opinion is that if you remove correct but negative information from your credit report, that there is some sort of fraudulent act going on…I can’t believe that the credit bureaus would just remove stuff willy-nilly because they are ‘in-bed’ with Tracy Ballard. If I were a creditor and posted correct negative information about an individual, I’d be PO’d if some Tracy ballard got it removed…there is a reliance by the industry regarding the integrity of the information from the credit agencies…now incorrect reporting is a different thing and there are procedures for removal – and you don’t need to pay for the info from Tracy Ballard…
Sounds like another “guru” creating a niche…
Just my opinion here…
Keith
Credit repair is possible and effective if you know what you are doing. I’ve done a lot of work myself visiting sites like creditboards.com and creditinfocenter.com. There are indeed some legitimate companies who are very good at doing this for you as well — for a significant fee of course.
The reason the fees are so hefty is because they do get results. However, the work involved is much more than the vast majority of individuals are willing to take on.
You have to realize that the credit reporting system is set up in such an intricately confusing fashion, that it inherently makes it very easy for even creditors to make mistakes in the process of posting information to the credit reporting agencies. This creates loop holes for information to be deleted, regardless of its validity or lack thereof.
While I can never condone the removal of accurate information as an acceptable action, I do view these “loop holes” as a way for good, honest individuals to get a second chance. Sometimes very bad things do happen to really good folks and it is often beyond their control.
I agree. Some of the loopholes are in fact mistakes made by the creditor in reporting the items on your report. Something as little as the wrong date or amount could get the derogatory file removed from your report if they do not respond and update. There is nothing wrong with that becuase they are the ones that messed the file up correct?
Nope…if they post information that is in any way incorrect and you challenge it, they have a certain number of days to justify the post or remove it…and that’s OK. That actually builds some checks and balances into the system and allows fairness into the syatem rather than just a bunch of ‘money-lenders’ running rough-shod over the masses…
Keith