Re: Anyone Know a Good "Credit Repair" Company?

Posted by Keyser Soze (205.188.209.12) on February 27, 2003 at 16:11:14:

In Reply to: Re: Anyone Know a Good "Credit Repair" Company? posted by LadynRed on February 27, 2003 at 15:22:33:

Hi Nick,

Welcome. There may be some decent companies out there. To hear the Dolans and other financial advisers tell it, you have to search long, hard, and most carefully.
Many are just racketeers in the broom closet off the boiler room from which works the collection agency works.
There are reports - typical, tedious - of tolling the statute of limitations when you sign up, of selling and distributing all the personal data you give these agencies to other modern day 'predatory capitalist' concerns.
The publicly heard Dolans and private advisers all urge caution in that you can do this on your own for less money, conversely these companies take a nice fat fee. Many times you can wind up paying more than you owed initially. Statistics indicate that many times those who settle end up declaring bankruptcy anyway.
Food for thought, the radio, tv, and print ads as placed by these companies sound sweet, gentle, reassuring. They also make tons of money for the radio and tv stations and publishers that run them. Money paid by those least able to afford it, the clients of these companies.
Aren't they all so clever? And to think, because so many people work in collections and related 'industries', perfectly good jobs go begging in the fields of cesspool cleaner, ditch digger, bull prostate inspector. Tragic.

Keyser Soze

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