In Reply to: OT: Credit repair posted by Wolfgang on July 08, 2000 at 00:29:38:
In regards to credit repair, I've heard that most of the outfits are scams, so watchout. Wolfgang, although it sounds like nonsense, your income and net worth have nothing to do with your credit rating. You need to borrow money and pay it back to get a good credit rating. The home equity loan would be a good start. Also, use credit cards for everything and pay them off every month. You need some solid repayment history on your credit report to offset the water bill and the magazine bill crap. I would also send a letter to the credit rating agencies and dispute the items that are listed on the credit report or settle them and as part of the settlement require the water and magazine company to sign a statement that they will report the item as paid in full to credit reporting agencies.
Don't be offended by the finance people at the dealer, they just utilize the ratings that the credit reporting companies give them. You could be a billionaire and it wouldn't show up on your credit report.
Email me if you need any help with the above and I'd be glad to lend a hand. I just want a ride in the M5 when you get it.
: I recently went in to lease an M5. I had never leased anything before, I have always paid cash for every car I bought [I'm European, credit is foreign to me]. Anyways, when they ran my credit they basically laughed at me. They told me my credit was horrible and that there is no way I can lease this car for a reasonable price [they wanted $15,000 down and $2000/month for 36 months]. I was very confused at this because I make over $100,000/year, own my own house [$2,000,000+] and always pay my bills. It turns out that there are a bunch of stupid credit items that have tarnished my report. One being a $55 water delivery bill from 6 years ago, a delinquent magazine subscription bill, and a bunch of other insignificant late payments. They told me that it doesn't matter how little my delinquincies are, a late payment is a late payment. Needless to say, I walked out and told them to go F themselves for being so condescending [after all, I could've bought the thing if I wanted to].
: My question is: how do I remove these stupid negatives off of my credit report? Is there an agency that can help remove them? Or am I f#@ked?
: Thanks for any input
: 99 323
: 00 328Ci
: 97 540i
: 99 ML 430