Credit Repair - Posted by Kita

Posted by Andrea on November 10, 2000 at 14:05:06:

Hi! I’m new to chat rooms, but thought I would see if I could get someone’s opinion. I hope I’m doing this right. I wasn’t sure where to jump in! I am interested in real estate investments and would like to build our assets (especially after reading “Rich Dad, Poor Dad” and playing his Rat Race game!). The problem…no cash to start with and a high amount of debt due to my hubby losing his job and having to start a business (C.P.A.) from the ground up. I have not purchased Carlton Sheets’ course yet but recently decided that I want to. I have no clue, basically!! However, I think an opportunity I don’t want to miss just came up three doors down! The owner (a client of my husband’s and a neighbor down the road), is selling the home without a realtor for $14,000 under the appraisal value. It is in an all new (appx. 5 year old) neighborhood with great mountain and some lake views. It also has a view of the Mormon Temple, which is a pretty popular seller out here in Utah. It is appraised at $169,000 and selling for $145,000. We have no cash to work with, but good credit. But, our debt ratio is pretty bad right now. We also worry about having to make the mortgage payment, which we obviously cannot do right now. The homes around here have been up for sale for about 1 year. I would anticipate a buyer in the Spring, but one never knows. We would also be willing to rent it out. There are about 25 rentals in our neighborhood and all seem to stay rented. FYI it is a 1,600+, 4 bedroom, 3 bath, multilevel with new carpet allowance of $2,000, 2 car garage, auto sprinklers, oak cabinetry throughout. Does this sound like a deal worthy of Carlton Sheets? If so, does anyone know any possible (legal in Utah) way to purchase this home? HELP!

Credit Repair - Posted by Kita

Posted by Kita on October 30, 2000 at 22:15:28:

Hello everyone. I am currently in the process of trying to clean up my credit because I am interested in purchasing a home in the near future. Does anyone have any suggestions on the best ways to do this? I heard that consolidation thru those programs that are advertised hurt your credit more than it helps. Please let me know. Thanks

Re: Credit Repair - Posted by C.J.

Posted by C.J. on November 02, 2000 at 22:38:28:

kita a friend of mine used a service called ICS if ya email back I 'll get you intouch and you can decide for yourself.By the way,I saw his credit report prior to using them and after.They deliver what they say!!!

Re: Credit Repair - Posted by Rick

Posted by Rick on November 02, 2000 at 16:33:55:

Actually, you can get all the info you need for free at this link:

I found them while searching around myself. Take a look at their articles. There’s a lot of jewels in it in understanding and repairing your credit. Maybe save you a buck or two.

Happy hunting!

Re: Credit Repair - Posted by Paul J. Sprenger

Posted by Paul J. Sprenger on October 31, 2000 at 11:27:34:


The best book I’ve found is:

The Guerrilla Guide to Credit Repair : How to Find Out What’s Wrong With Your Credit Rating-And How to Fix It
by Todd Bierman, Nathaniel Wice

You can get it at for about $10.


Re: Credit Repair - Posted by Jim

Posted by Jim on October 31, 2000 at 03:19:51:

I found a slew of information at my library. I got a copy of my credit report and used the methods and ideas mentioned in several books. Sent letters and the whole nine yards. Took about a year, but got it all cleaned up.

Re: Credit Repair and Bankruptcy - Posted by Greg

Posted by Greg on November 10, 2000 at 24:22:33:

I had to file a BK 2 years ago. Any way to “repair” that? I have since re-established with positive credit (credit cards) and have NO debt and perfect track record for 2 years. I want to invest in RE but am afraid the BK will shoot me down. Comments anyone?..thanks

Re: Credit Repair and Bankruptcy - Posted by Jim

Posted by Jim on November 15, 2000 at 23:41:38:

The best thing to do is get a copy of you credit report and examine it carefully. You may wish to try to get prequalified for a loan. OR just learn to buy Real Estate without having to use a bank at all (banks are the only ones ‘usually’ concerned with a credit report score).

Re: Credit Repair and Bankruptcy - Posted by Dave Mckee

Posted by Dave Mckee on November 10, 2000 at 11:12:06:

The best way to find out is try to get Pre-qualified for a mortgage. That will answer that question as well as what amount you qualify for. Then, if it’s approved, you’re ready to deal. I’ve been there and done that. You are probably OK.

Good luck!