Avoid Credit Repair Scams
May 11, 2009 by
Filed under Debt Repair
Credit repair companies find ways to alter the actual services that they will provide. Leading you to believe that the process they undertake will actually make your credit score better. That is far from the truth. Don’t believe them. Hold your cash. With a little self-discipline you can repair your credit yourself. Inquire about debt repayment. It will take time, but the overall process will save you headaches down the road.
Companies like these are non-reliable. They don’t do the work that you’re paying for and half the time, they split with your money leaving you to fend for yourself. Paying these companies the money you can use to pay off your debt is a risk that should be evaluated very carefully. Promises of buying a home, a car, insurance or your job is not the risk you will want to take.
There are warning signs you can look for if you are inquiring about any of these types of companies:
They want your cash before you see any work being processed
They hold information about self-help credit repair options
They want you to stay clear of direct communication with credit bureaus
Have you create an EIN (Employer Identification Number) instead of using your own SSN (Social Security Number)
Prosecute yourself by creating a whole new person (you will be liable for fraud allegations)
If you commit any fraud act by applying for any type of government application with false information, you’re subject to pay heavy fines and could incur prosecution involving jail time. By no means assess fraudulent acts of this nature. You will only create a bigger problem instead of fixing the problem.
There is nothing that you can do to remove accurate negative imformation from your credit report. However, you can amend any false transactions or errors and dispute such actions. This is free and backed by the Fair Credit Reporting Act.
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