Is anyone familiar with Elite Credit? If so, what are your experiences?
To make a long story short, I have some major derogatory credit (many chargeoffs & collection accts) and am in the process of filing for ch. 7.
Before I file, however, I'm considering doing some legwork to eliminate any derogatory info that I can prior to the BK. My reasoning is that it could potentially be harder to dispute them if they're listed in the BK. I'm familiar with many of the dispute processes (DV letters, verification requests, FDCPA violations etc.) and have used them successfully in the past however doing it myself would be very time consuming.
Elite Credit claims to have a 81% delete rate. Their services are relatively pricey, $100+/month. However, it would be worth it to have the dispute process automated. I'm not looking for a dispute mill that just sends stacks of form letters, but rather a 3rd party that can work all angles to help use the law to my advantage.
In the meantime, I've taken the necessary steps to budget, and my plan is to apply for a couple secured cards after the BK to re-establish positive tradelines. Any feedback would be very appreciated!
Be careful you don't do too good of a job before you file for that ch 7. The laws have changed and if you don't have enough debt or have to much income, you can be forced into a ch 13 repayment plan.
Elite credit
Hi NeoSoulBrotha,
You can try repairing your credit on your own. Moreover, bankruptcy is going to have a negative impact on your score. It will lower your points atleast by 2---250 points. Another thing is that if you have a credit with no negatives at all, bankruptcy can have a greater negative impact on your score.
Thanks,
Aaron