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Spiritual Credit Repair

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Peter Popoff often times seen preaching on television is now singing a new tune. His new tune is supernatural credit repair and debt relief. Essentially it is all a con, the person is using a religious front as a way to promote something for himself. This is downright a scam and it is sad that someone drops down to the level of using religion to scam someone out of money. Exactly how the scam has been working is still unclear, however Popoff is preaching credit repair through the bible, which as most people know there is no book of credit repair after revelations. People should always look at things like this and remember that if it seems too good to be true it probably is, going to church does not give you credit repair or any other form of debt relief. Always keep a watchful eye out for things that try to take advantage of something that a person is naturally inclined to, and if it is tied in with something like religion be extra weary. Business and religion often times don’t mix, and therefore to see credit repair as part of a spiritual ceremony is absolutely absurd. Watch for potentially more of these springing up in the future, especially if the economy stays down like it has the past few years. You know it is brutal when people are preaching debt relief and credit repair as a televangelist. Always be weary of what is going on when it comes to potential credit repair scams.

Credit Repair and Foreclosure Company in Hot Water in N.C.

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The attorney general of North Carolina has issues a formal complaint against one of the loan modification and credit repair companies. The company has been charging people advanced fees for services that often times would not be handled properly resulting in the foreclosure and loss of someone’s home. This company specifically Eddie Long had advertised himself as an experienced credit repair professional. The information he provided was often times simply falsified, and none of the things that he claimed he could do for people simply were not true. The complaint doesn’t come from the specific inability for him to not be able to get things done, the complaint comes from unsettling business practices. Eddie Long had been charging in advanced for his credit repair and foreclosure avoidance assistance, which in the state of North Carolina is illegal. The other major deal was that for the people he failed to follow through on in either the credit repair or the foreclosure that asked for a refund he simply ignored. Eddie Long has taken advantage of people who need one of the most important services offered in the financial community, credit repair, and is rightfully barred from engaging in business through his company in North Carolina. The eventual goal of the attorney general is to completely shut down the credit repair company for not only false advertisement, but for failure to return money for services. The company deserves to go under, the violation of fair business especially in the credit repair industry is absolutely intolerable.

 

Fraudulent Texas Credit Repair Company!

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Credit Repair: A jury has returned $ 13.8 million against a Texas company with the charge of fraudulent promise of eliminating debt and restoring credit ratings. Attorney General Greg Abbott’s announced on Tuesday that the Credit Card Solution and Freedom from debt Alliance should have to pay $13.8 million for consigning fraud against hundreds of Texans. A jury in Houston found that the 4 has failed to register with state authorities. Prosecutors charged seven hundred Texans an average of $3, 000 each, claiming that they could eradicate debts and restore credit ratings just by filling lawsuits. The companies claimed that they could assist the residents to develop loopholes in the credit reporting system. They could also file lawsuits against debt collectors who would wipe out their debts and guide to thousands of dollars in court awarded damages. In a statement Tuesday, the attorney general’s office said that the defendants provided nothing of value and claimed thousands of dollars for the alleged service and struggling customers have received a worse financial condition after paying TCCS.

Well, there are some topics discussed below on how credit repair can be counted. So let’s have a look towards them:

  • 35% Payment history
  • 35% Amounts owed
  • 15% Length of credit history
  • 10% new credit
  • 10% Type of credit

 

 

Credit Repair Scams – Major Cause!

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Now in these economic crisis days credit repair scams have been rising enormously. The main reason of the rising credit repair scams is the huge numbers of bankruptcies and record level of foreclosures. Credit card delinquencies and late mortgage payments are also some other causes of the appearance of credit repair scams. Though credit repair business is getting so much popularity among those people who are in financial crisis but the appearance of credit repair scam is providing harmful result for many people who are facing foreclosure or bad credit. Many people fall victim to bad credit because they don’t have any option. Credit repair is not that kind of process that happens over night.

Like other scams credit repair scams also forcing people to believe to provide unbelievable results within short time and those people who are suffering from financial crisis get fall into their trap to solve their financial problem. But at the end they loose everything buy getting nothing. You can avoid such scams by learning what kind of credit repair scams available there. You can also take advice of some experience campaigners to get rid of credit repair scams. Always avoid choosing those companies who are offering mouth watering proposal to solve your bad credit. The new credit files do at times get mistakenly made at a credit bureaus, and a few of the credit repair scams can exploit a system to try as well as intentionally force the new file to get created. Once again, it is totally illegal. Some other credit repair scams can make use of the fraudulent methods to get the new social security number or the new identity.

You need to steer clear in case, there is even the subtle indication of giving you totally clean slate and the new credit file. The credit repair company will certainly stand it behind the services with the money back satisfaction assurance. But, to make the firm promise of some outcome and point increase in the score just will not be done. Also, there are a lot of factors out of the control & out of the control to promise the specific result with an absolute certainty. Any of the statements about the typical and the target outcomes must at least leave open all possibility that it might not at all happen despite the best efforts.

 

How to Get Rid Off Credit Repair Scams!

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It is always a daunting task to choose a right credit repair company as there are lots of companies floating around. It will be a hesitation for all people to choose the good from the bad as many credit repair scams are revolving around there. Due to the appearance of credit repair scams credit repair industry have gotten a bad image up late. It is always important for people to treat carefully as the involvement of credit repair scams. However, there are few things if people take into consideration they can avoid such problems. If any company is charging hefty amount of fees before providing the service you should always say no to them. Normally most of the credit repair scams will ask for a good amount of money before doing something. However a good credit repair service does not charge anything until your case setup. You should avoid those following things while choosing credit repair service.

  • You should avoid those credit repair companies which are not following industry standards and regulations
  • People should avoid those companies which are claiming they can eliminate negative information from your credit history.
  • You should avoid those companies which are not offering any written disclosure about your rights in link to your credit history.

The credit repair service will just promise to help you out to try as well as remove all the inaccurate information from the credit card report. In order, to say or else imply they will remove all the negative items, irrespective of the accuracy, and is one more big sign of the scam. There is the distinction being made here though. Lots of credit reports are all riddled with the inaccuracies by sloppiness of credit bureaus & creditors, and so there are damaging inaccuracies, which most of the consumers are not aware of.

Example, in case, you had the charge off as well as it is on the credit report, and it is mere presence will not make that accurate. Even seemingly the small inaccuracies are damaging & will always get disputed. But, deliberately disputing the entry, which is known being 100% accurate is not at all allowed. Keep the points in your mind while looking to hire any of the credit repair company. Above all, in case, something just does not smell very right, then keep looking somewhere else.

 

Credit Repair For Loan Scam

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This Credit Repair Scam claims to clean your credit fast and use our contacts to get you a mortgage (or credit card or loan).

This is possibly one of the more recent credit-repair scams — and one of the most costly to their consumers. Con artists target the hard pressed, dangling the promise of much needed money or loans in front of desperate consumers as an incentive to pay, pay and pay. Some credit repair scam outfits mimic credit counseling agencies, while others imitate mortgage companies. All they ever seem to do is hit you up for more and more money, then leave you with nothing but an even lighter bank account.

Since there are genuine community nonprofit groups and credit repair companies that help educate consumers and help with affordable housing issues, scammers may also try to imitate that business model. The best advice I can give to my readers is hold onto your wallet tightly and be wary of any big promises and fast fixes.

Above all do your own credit repair research, find out who it is you are really working with and be prepared for bad news.

A new and clean credit file

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Credit Repair Scam: We can get you a new, clean credit file. Ya right, not legally. Some firms will try to get customers to apply for a new taxpayer identification number or Employer Identification Number (also called an EIN) for the purpose of building a new credit history. This is a big felony and you can go to jail for this. Credit repair.

But people get taken because con artists who don’t explain the whole scheme, so consumers don’t realize what they are being asked to do can land them in the big house just for trying to repair their credit. Assuming of course that consumers may not know that getting a new number to create a new credit history is illegal. And the whole concept is based on faulty reasoning. Since the new file will list the same name and address, it would still have all the same information and history, even with a new number. Credit repair.

Credit repair: Beware if anyone talks about getting you a new credit file, file segregation or a fresh credit history. Long story short, this is a big credit repair scam.

The creditor scam

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Credit Repair Scams: The old we can convince the creditor that you don’t really owe this debt scam has been around for years. But when you’re credits hurting and it seems like there’s nothing you can do… people will believe just about anything.

What you should know about this particular Credit repair scam is it’s along the same line as people who claim that the Internal Revenue Service is illegal or challenge the validity of U.S. currency (in other words credit crazy). The way it works is similar to the previous scam (“The In” with credit bureaus scam). Con artists will come up with a scheme to have you challenge the debt or they will bombard the debt holder with procedural requests that will supposedly make them drop the claim, Federal agencies have described these schemes as bogus.

“There are times when consumers do have defenses to debt.” And that’s when it’s time to bring in a lawyer. Credit Repair.

“The In” with credit bureaus scam

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Credit Repair Scams: We have an in with the credit bureaus, speak their language or know some super-secret regulation or handshake that will make them delete the unflattering citations from your file. What you should know is there is no such thing as “an in with the credit bureaus”.

The bureau may list the debt as disputed while it investigates. Debts may disappear during the short investigation (after which they will return), and the company will show this temporary “clean” report to collect its fee, she says.

Some companies take the money and run. Others will deluge the credit bureaus with frivolous disputes of the debts in your file, says Linda Sherry, director of national priorities for Consumer Action.

Or, if the bureau realizes what the company is doing, it may simply ignore what it recognizes as bogus requests, says Joe Ridout, of Consumer Action. Credit Repair.

In addition, the Credit Repair Organizations Act prohibits any company from taking money until after it does what it promised. So if anyone is trying to bypass that federal law (or banking on the fact that you don’t know about it) by getting you to send, charge or wire money, that’s a bad sign. “The crooks always ask for money upfront.” Credit Repair.

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Credit Repair Scams

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Boo! There are credit repair scams out there. No need to be afraid – just be a little cautious and a lot skeptical . In general, hold onto your wallet and be wary of any big promises or fast fixes. In specific,

1: A common credit repair scam involves boasting about an “inside relationship” with reporting bureaus and knowing about some super-secret regulation or handshake that will make them delete the unflattering items from your report. There is no such thing.

2. Another popular credit repair scam includes the con, “We can convince your creditor that you really don’t owe this debt.” It’s a nutty rap, like claiming the Internal Revenue Service is illegal or challenging the validity of U.S. currency.

3: Anyone who claims they can get you a new, clean credit report has a place on the repair scam all-star team. Should they try to convince you to apply for a new taxpayer identification number or Employer Identification Number (EIN) for the purpose of rebuilding or rewriting your credit, beware. That’s a felony.

4: A familiar credit repair scam also involves “Clean credit – fast!” or “We have the contacts to get you a mortgage (or credit card loan).” Don’t believe it. Con artists dangle those promises to desperate consumers as an incentive to pay them. Imitating credit-counseling agencies or mortgage companies is its own credit repair scam industry.

5: The Credit Repair Organizations Act prohibits any company from taking money until after it does what it promised. Anyone is trying to bypass that federal law (or banking on the fact that you don’t know about it) by getting you to send, charge or wire money upfront is perpetrating a credit repair scam.