I recently started shopping for a mortgage broker here in Kentucky. When I explained my credit situation and income to the broker my financial advisor referred me to-the person stated he didn't understand why our scores were sooo low...we've done everything they say to do! Paid on time for 3+ years, old and unverified debts deleted, etc, etc. Note-We didn't run our credit, I told him I am not ready to do anything yet, until I figure out my low scores. Did the free FICO this month on the 11th and they were at 593 and 600-since then I had $5K in Collections deleted-expect them to be higher next time!! Long story short (trying to anyway) this person thinks I should contact AACR in Elizabethtown, KY and pay them $580 (total for both of us) and they will improve our scores PERMENENTLY a guaranteed 160 points. This would bring us into the mid to high 700's especially once my last set of letters come back with my expected last deletes/updates. We can afford this-especially since we are throwing away $900 per month on a mortgage that would cost us $585 with a decent rate! If I can either refinance this loan down to 6% or sell it and get a new loan for the house we want at 6% I will gladly do it...but then I start getting nervous thinking I am throwing $600 away! Just thought I'd see if anyone had heard of them...will post it around the other sites too. Thank you as always for responses.
1*and pay them $580 (total for both of us) 2*a guaranteed 160 points. 3**they will improve our scores PERMENENTLY almostther ====================== 1*It's illegal for a credit repair Co.to charge up front like this. 2*Claiming this is also illegal as it can't be done. 3*Another false claim.The very nature of FICO is unstable scores. The one sure thing about a FICO Score is it isn't PERMANENT. Looks like a scam to me. THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
http://www.aacr-llc.com/ It is just another credit repair firm. If AACR were making claims to permanently change your FICO scores, then this would be illegal... but it was the mortgage broker who told you this, not AACR. This broker obviously doesn't understand FICO (alarm bells should be ringing). You would be better off 1) getting your new scores (since collections have been deleted and they are likely much improved already) and 2) go shopping for a new broker.
Credit Counseling Scams http://dnes1.ordyne.com/ct?id=22215&urlid=11158&lid=15&nlid=4&sid=964&cid=396&oop=p
