Credit repair scams have increased enormously in these economic times due to the following factors: a fragile economy; record levels of seizures; and a growing number of bankruptcies, credit card failures and late mortgage payments. Credit repair is booming and, unfortunately, many unscrupulous elements are thriving on the market.
Credit repair has become an essential part of today's economy, as more and more people are victims of bad credit.
Credit repair is not an easy process, it's not something that happens at night, but being patient, organized and helping many friends and professionals and people with experienced similar situations, possible to clean a credit file and delete any inaccurate information. Like most scams, credit repair scams feed on those who feel desperate and ready to believe even unreasonable promises.
Some credit repair scams to avoid:
· Credit repair companies that do not comply with industry standards or regulations.
· Credit repair companies that offer to eliminate bankruptcies, remove specific negative information from your credit history or obtain a credit for you, regardless of your credit history.
· Credit repair companies that promise to exploit "secret" or "little known" flaws in the system to remove information from your credit history.
· Credit repair companies that will not provide a written disclosure of your rights in connection with your credit history before asking you to sign a contract.
· Credit repair companies that attempt to charge money before having performed credit repair services.
· Credit repair companies that discourage you from contacting major credit bureaus directly.
· Credit repair companies feel that repairing your credit is a big mystery that requires legal expertise and years of practice.
· Credit repair companies that ask you to lie on loan applications or suggest you develop a second identity.
What can you do to make sure you do not fall victim to any of these scams? Start by learning the types of scams that exist. If you discover inaccuracies in your credit report, it is your responsibility to begin the correction process. Anything that a credit repair clinic can do for you legally, you can do it for yourself at little or no cost. You have the right to sue a credit repair organization that violates the law on credit repair organization.
State law enforcement officials can be helpful if you have lost money to repair the scams. As a result, consumers who have encountered credit problems can seek advice and assistance from credit repair organizations that offer to improve the creditworthiness of these consumers. However, neither you nor any & # 39; credit repair & # 39; The credit repair company or organization has the right to withdraw accurate, current and verifiable information from your credit file. State law enforcement officials can be helpful if you have lost money to repair the scams. As a result, consumers who have experienced credit problems can seek the help of credit repair organizations, which offer to improve the creditworthiness of these consumers. However, neither you nor any & # 39; credit repair & # 39; The company or credit repair organization has the right to withdraw accurate, up-to-date and verifiable information from your credit report.