15 Way to Spot Credit Repair Scams
Credit Repair Scams
Credit repair companies tend to be viewed negatively, mostly due to the amount of scams out there. However, there are many legitimate, reputable companies that you can turn to, should you require professional help. As an educational tool, we at Fast and Reliable Credit Repair have put together a list of common credit repair scam techniques in an effort to prevent consumers falling victim to scams.
Be very cautious of:
- Companies that want you to pay for services before they have been provided.
- Companies that do not inform you of your legal rights and what you can do on your own for free.
- Companies that urge you to create a new credit profile by applying for an EIN (Employer Identification Number). This is illegal.
- Companies that guarantee removal of ALL negative items. No company can legally or ethically guarantee to remove all of your negative accounts, however they can offer a money back guarantee.
- Be cautious of unsolicited emails from credit repair companies. Many are fraudulent.
- Companies that cannot or will not help your obtain your credit reports.
- Companies that make promises they cannot keep.
- Companies that do not provide you with a general time frame for your case. Most cases can be completed in about 6 months.
- Companies that discourage customer contact with the credit bureaus.
- Companies that advise you to lie on loan applications or suggest you establish a different identity. This is not only dishonest, it is illegal.
- Companies that promise to pay your creditors from money you pay them that is placed in an escrow account. This proposition is merely a scam, and the debtor is the loser.
- Companies that try to pressure you to join their program without providing you with a contract.
- Companies that claim to repair your credit within a few days or a month. Your credit was not ruined overnight and it will not be fixed overnight!
- Companies that have a 900 phone number should be avoided at all times. Any reputable company would have a toll-free number.
- Use common sense! If it seems too good to be true, it probably is!
Related Posts
- Credit Bureau sold Tenant Screening Reports to Identity Thieves
- Controlling Credit: Top 10 Things to Know
- Good Debt vs. Bad Debt
- Good news about dealing with Collectors during the holidays
- Wells to get Big Tax Break in Wachovia Deal
Reading this will make a dumb consumer smart!!
Nothing worse than getting scammed!
Number 16, make sure to choose Fast & Reliable Credit Repair
Like any other business, there are reputable companies and then there are the rip-off artists that give all the others a bad name. If you need the help of a reputable credit repair company check with the Ethical Credit Repair Alliance (ECRA) Consumer Watchdog
trustworthy credit repair companies
Like any other business, there are reputable companies and then there are the rip-off artists that give all the others a bad name. If you need the help of a reputable credit repair company check with the Ethical Credit Repair Alliance (ECRA) Consumer Watchdog
trustworthy credit repair companies