Credit Repair Scams

When it comes to repairing your credit score doing it yourself is the best way to attack the problem.  There are many people out there who would love to scam you out of your hard earned money by telling you they can repair your credit for you.  There is no quick fix in repairing your credit score.

There are some ways to tell if it is a scam you are being offered.  If the company wants you to pay upfront for their services do not do it.  A credit repair company cannot ask for payment until after they have completed the services they promised you they could do to help you.

A company has to tell you what you can do for free to help your credit.  If they do not tell you how you can help yourself then stay away from that service.  You can find how to do it yourself by researching it online.

If the service tells you not to contact the 3 credit reporting agencies run the other direction.  The 3 credit reporting agencies have to be told about how you are trying to correct your score. The service should want to help you in the right way.

If this service tells you to open a new credit identity by applying for an Employer Identification Number to use instead of your Social Security number hang up and report them to the police.  If you do this you will be breaking the law.  Mainly by misrepresenting your social security number.

A credit repair scam can be seen if they ask you to dispute everything in your credit history.  This is based on that if a company does not respond to a letter within thirty days then the bad information has to be removed  from the credit reporting companies.  It is highly unlikely that these companies will take more thank thirty days to respond.  You are wasting your time.  And wasting your money with the company who told you to do this.

The only people who can remove debt permanently from your credit record are the credit reporting companies or the creditor.  Contact your creditor personally to set up a payment plan.  If you received an unsolicited e-mail about credit repair remember, “If it’s too good to be true then it probably is.” Spam is spam.  It is unwanted advice. Only you can help yourself.