Credit Repair Business - Search Carefully
There is way too much debate in regard to the credit repair business to just ignore it. The fact is, the reason that many people with bad credit are hesitant to hire a credit repair company, is the bad name associated with the credit repair industry. Nevertheless it's not true that all those who repair credit are dishonest.
There are a good many respectable companies who will do their very best to fix your credit and improve your credit worthiness. The question is how to determine which companies are trustworthy and how to avoid being taken in by the scammers who are ready to take YOU for all they can get. Contrary to the common wisdom, spotting a fraudulent credit repair business isn't all that hard. The first warning sign is if the credit company proposes to fix your credit score "quickly."
Since your credit score is calculated on the basis of your financial history, it's next to impossible to fix your credit in a matter of a few weeks. As soon as any credit repair business promises what you know is not possible, you should "dump" them, because they are definitely fraudulent!
Also watch out for these other signs that a company is fraudulent. The fraudulent companies, in most cases, will demand full payment from the beginning.
Under federal law fees may not be charged until services have been rendered. Regardless of how bad your credit is, do not pay their fees in full upfront.
A dishonest credit repair business is more than willing to use illegal methods. They will even counsel you to use illegal methods while convincing you that there is nothing wrong in doing so, as they know an "insider" who works for the credit bureaus who will cover their tracks.
Make sure you don't fall for these kinds of lies! Don't ever encourage any tactics in order to improve your credit unless it's 100 percent legal. Regardless of how desperate your problems are, they will become much worse if you go outside the law to try and improve your situation. You are primarily responsible when your credit report is repaired through illegal means; thus you could end up being prosecuted if caught in illegal activity. At the end of the day, it's not worth the risk!
An additional way to establish whether or not the credit repair business under consideration is reputable, is to ask them to counsel you in understanding the nature of credit repair. A trustworthy company will be pleased to provide you counseling and "hand holding" in your quest to educate yourself regarding credit improvement. A trustworthy business will work in the capacity of a facilitator, while a scam agency will be reluctant to provide information concerning the credit repair process.
There are a good many respectable companies who will do their very best to fix your credit and improve your credit worthiness. The question is how to determine which companies are trustworthy and how to avoid being taken in by the scammers who are ready to take YOU for all they can get. Contrary to the common wisdom, spotting a fraudulent credit repair business isn't all that hard. The first warning sign is if the credit company proposes to fix your credit score "quickly."
Since your credit score is calculated on the basis of your financial history, it's next to impossible to fix your credit in a matter of a few weeks. As soon as any credit repair business promises what you know is not possible, you should "dump" them, because they are definitely fraudulent!
Also watch out for these other signs that a company is fraudulent. The fraudulent companies, in most cases, will demand full payment from the beginning.
Under federal law fees may not be charged until services have been rendered. Regardless of how bad your credit is, do not pay their fees in full upfront.
A dishonest credit repair business is more than willing to use illegal methods. They will even counsel you to use illegal methods while convincing you that there is nothing wrong in doing so, as they know an "insider" who works for the credit bureaus who will cover their tracks.
Make sure you don't fall for these kinds of lies! Don't ever encourage any tactics in order to improve your credit unless it's 100 percent legal. Regardless of how desperate your problems are, they will become much worse if you go outside the law to try and improve your situation. You are primarily responsible when your credit report is repaired through illegal means; thus you could end up being prosecuted if caught in illegal activity. At the end of the day, it's not worth the risk!
An additional way to establish whether or not the credit repair business under consideration is reputable, is to ask them to counsel you in understanding the nature of credit repair. A trustworthy company will be pleased to provide you counseling and "hand holding" in your quest to educate yourself regarding credit improvement. A trustworthy business will work in the capacity of a facilitator, while a scam agency will be reluctant to provide information concerning the credit repair process.
posted by Money Meister | 10:02 AM
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