Better Credit Score, Better Life?
Good Credit Score
In these times, a better credit score brings a better quality of life. Unfortunately there are many people who are falling victim to all kinds of credit repair scams with the promise of removing every single negative item from their credit reports.
Recently, in Little Rock, Arkansas, two women, Sherrye Mance and Tiffany Morri, have been fined by the Attorney General for running credit repair scams. It is important to note that the two women have not been charged with any crime, merely ordered to stop the practice and refund the money paid by their clients. As of today, the Attorney General has yet to locate the two women.
Most likely, they will not!
More than 100 people have complained to the attorney generals office. One woman in Little Rock said she paid $2,200 for their “services”. Their fees are said to range from a few hundred to several thousand dollars.
The two women operated their scams under several different company names, including: Financial Services Unlimited, Service Unlimited Incorporated and Fresh Start Credit Services.
“We’ve known for sometime these women, Ms. Morris and Ms. Mance have been operating a credit repair scheme under a variety of different names,” says the James DePriest with the Arkansas Attorney Generals Office. The Attorney Generals office wants to hear from you if you have any information about these two or have fallen victim to their scam.
It is true, there are many companies in countless industries who are simply looking to scam people. While the government should do more to crackdown on these types of practices, more responsibility needs to fall on the consumer.
The best way to avoid getting caught in a scam is to use common sense!
If you spent 5 minutes online researching credit repair, you would find that it is clearly illegal for any company to charge huge upfront fees before any work has been completed on your reports. $2,200 is a completely ridiculous amount for anyone to pay for credit repair. Credit repair companies are not a quick fix. In most cases, your credit isn’t ruined overnight and it will not be fixed overnight. It takes time and diligence on the companies’ end and patience and responsibility on the consumers’ end. All too often, when repairing credit, clients continue to add negative items to their reports, usually in the form of more late payments, which is completely counterproductive.
In conclusion, if you’re searching for a reputable credit repair company, or rather any company, please do your research before hand. And consumers, please take some responsibility for your actions.
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
$2,200 is crazy. How can someone have that money and have such poor credit.
If you dont pay attention you can get scammed at every corner these days. Do your homework.
I paid $1500 and got two items removed. I should have looked further than credit bureau experts.
Good credit is soooo important. I feel sorry for the people that got scammed!!
There's n reason to pay so much for credit repair. You can do it yourself. Often times the ese credit repair companies don't do anything more than write letters. In essence, they are a secretarial service. you still have to sign the letters and the replies come back to yyou.
This is true. But then why do people have secretaries? Because they are busy, and there is a market there…
Can you change your oil? Of course, you are taught that in high school, but you still go to Jiffy Lube…
We at least try to let everyone know THEY CAN DO IT THEMSELVES and we offer help with that on our blog, but for those who are too busy to deal with it, then we are here…
The determination of one’s credit score is achieved by observing a combination of information from credit cards, available credit, payment history, and other financial information. Negative aspects in the information like bankruptcies and late payments can adversely affect one’s credit score, but the information won't stay there forever. As a result one should make an effort to keep a clean credit history to achieve its fruits in the form of future opportunities.