Southside couple hope for repayment after paying $ 2,000 for credit repair, but seeing no change in credit score – CBS Chicago
CHICAGO (CBS) – A South Side couple said they paid thousands of dollars for credit repair, but the Chicago financial expert they hired didn’t fix anything.
CBS 2 Morning Insider Tim McNicholas cautions: You don’t have to shell out money to help your credit.
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âHe told me he would charge me $ 1,000 for me and $ 1,000 for my husband,â said Paula Harris, who sent $ 2,000 via CashApp to a financial planner who works on the South Side.
Last summer he even texted her, “Your credit is good and you’re good to go.”
But Harris said when checking his credit score and that hadn’t changed.
Does she think she will ever get her money back?
âI pray to do it. I’m hopeful about that, âsaid Harris.
She was also hopeful on February 23, when after months of asking the man agreed to pay her back within 30 days, but 30 days came and went and all Harris got was more. of stress.
She is a nurse who has treated several COVID patients over the past year, and now she is helping with vaccines.
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âYou want something to go right, you want something to happen in your favor. It’s a lot of stress. It’s depression. It is darkness. Where is the glimmer of hope? Paula Harris said.
Harris said she trusted the financial planner because a friend recommended him.
But WalletHub experts say you should never pay someone to fix your credit.
âThere are no quick fixes to credit repair. It’s a bit the same as a diet pill. In fact, you have to diet and get the job done to see results. The same goes for your credit, âsaid WalletHub spokesperson Jill Gonzalez.
There are a few things you can do on your own.
You can request your credit reports from Experian, Equifax, and TransUnion to make sure there are no errors or discrepancies. If there are any, you can dispute them with the agency.
It’s also important to monitor your bills as much as possible to prevent your score from sinking any deeper.
âWe have seen many credit repair companies targeting people during and after the Great Recession. We’re seeing the same thing in this possibly post-pandemic time, âGonzalez said.
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As for this financial planner, he said it was a big misunderstanding and he plans to fix it. CBS 2 has decided not to name it, but we’ll follow up.