Posts

Credit Repair Scams – Major Cause!

/0 Comments/in /by

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!

/0 Comments/in /by

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.

 

A new and clean credit file

/4 Comments/in /by

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.

Pages

Credit Repair Scams

/0 Comments/by

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.