[tomsmith]

A colleague from work recommended Champion credit repair services to fix my credit. I wanted to know if they can really repair my credit. I have a few inquiries that don't belong to me. I also noted there are old accounts that I closed long time ago. Has anyone used Champion credit repair services before? If so, how long did it take to fix credit? Did you credit score go up?

Any and all feedback would help me decide to go forward. By the way, is $150 a good price for credit repair?


Thank you

[TexasParent]

I would be wary of Credit Repair businesses, all they are doing is what you can do for yourself. I would investigate what is involved in Credit Repair and then attempt it yourself.

I am sure there are books in the library or articles on-line that you can read.

Also, Dave Ramsey has some sound money advice at Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan.

Here is what he has to say on Credit Repair:

Dirty Credit Cleaning Place

Marquita thinks a credit restoration company is a good idea. Dave gives all the reason why it isn't.

QUESTION: Marquita has a question about a credit restoration company. Is it worth it to invest in that?

ANSWER: Why do you want to do that; so you can go out and borrow money again? I would never hire a company to do credit restoration ever. Your credit can only be restored by time, or you cleaning up your bad debt by paying on it, or inaccuracies on your credit report that can be taken off. If that's the case, write a letter to the credit bureau report agency, and send it certified mail, return receipt requested. Tell them in that letter that there is an inaccuracy on your report and they have 30 days to correct it or take it off, and they'll take it off since they can't correct it because you never did it.

When you think one of these companies can straighten your stuff out and do credit repair, that's when you get ripped off. You cannot have bad credit taken off your credit report legally unless it's inaccurate. Do not hire this credit restoration service company under any circumstances."

If you are looking to get your financial house in order, listen to Dave on the radio or his podcasts, or read his website. In a lot of cases if you have credit card debt he suggests negotiating with the Credit Card companies directly and then paying them only a portion of what you owe; but I would listen to Dave a lot to get the true idea about it. Your $150 or much less would be better spent taking his course.