The latest "credit repair" fad going around...
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Posted by Marc
(66.232.37.3) on September 19, 2003 at 10:09:44:
Check this site out: http://www.consumercreditbuilder.com They deposit $10,000 in a bank account for you. You can't touch the money, since it's a secured loan. You pay them a $60 initial fee and then pay them $20 per month for a year (total $300). In the meantime they report it to the credit bureaus as a $10,000 loan that is being payed timely, and paid in full after a year, provided you continue paying timely payments. Or, you can pay the full amount at anytime, and you have a $10k paid loan added to your CRs, which should up your score. So what are your thoughts on this one? Maybe a good idea for some people? Scam? Interested to see if anyone tries it.
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