Aug 19, 2013 4:11 PM by Janine Reyes
CORPUS CHRISTI -- We all know your credit score can have a major impact on your life.
From being able to open a credit card, to buying a car or a house, whether you qualify and what interest rate you have to pay all depends on your credit.
There are a lot of credit repair companies out there, but before your fork over cash to clean up your credit, buyer beware!
We found an ad on Craigslist claiming your negative credit can be deleted without you having to pay a dime to your creditors. Sounds great right?
The Better Business Bureau calls it illegal, but the woman posting the ad tell us, she does it to help people, and you may be surprised to find out how.
We called Rebecca Myers after seeing her ad posted on Craigslist this morning. It's since been removed. In the ad, the poster claims "we delete negative credit and save you money by not settling, but getting it removed."
But Tracy Bracy says that's a huge warning sign. "Beware," Bracy told us, "it's a red flag if anyone tells you they can remove any negative information, that claim is just false."
Myers insists what she does is legit.
She says she uses federal consumer laws to do it.
She basically pulls your credit report and reaches out to all your creditors. "I dispute everything, I don't care if you did it or not, it doesn't matter to me," Byers said. She disputes it all, hoping creditors don't respond. According to federal consumer laws, if creditors don't respond within 30 days, the information must be removed from your credit report.
At the same time, she tells us, she gets you to open lines of credit and keep those payments up.
Myers says she rarely settles but when she does its pennies on the dollar. "I start at ridiculous amounts, you know, 4 cents on the dollar," she told us. Myers claims it works. "Seven thousand or $8,000 repos for $700 or $800, to have it removed completely."
But, getting anything that's accurate removed completely from your credit report is not possible.
Bad credit will follow you for 7 years, bankruptcy information will follow you for 10.
"It's illegal for any person or company to remove accurate negative information from your credit report," Bracy told us.
Still, myers insists she's got a good track record and boasts 26 years experience.
She tells us her service is free to customers who buy homes from her company, manufactured housing consultants.
To get started they charge you $675 down and later use that money for a manufactured home down payment.
Bracy says it's indicative of a scam the BBB sees often.
Myers admits if you don't buy a house, you do not get your money back.
"We don't force anybody to purchase a home, but they don't get their $675 back because we did a lot of work and mail outs on their behalf," explained Myers.
You can check your credit on your own.
Each year, you can get a hold of your credit reports for free by logging onto AnnualCreditReport.com.
You can also find free or affordable help from non-profit credit counseling center, the National Foundation for Credit Counseling.
13 hours ago
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