Fix your credit report, but be careful. There are a large number, actually thousands of people trapped by credit reporting scams. I was one of them, don’t be another. Learn about the tips I provide here.
Not long ago, Eileen Harrington, deputy director of the FTC’s Bureau of Consumer Protection, said that “No one can legally remove accurate and timely information from your credit report.” she and her department received thousands of complaints about companies scamming people with false and misleading claims.
It was so bad that the FTC began coordinating “Project Credit Despair” to try to stop these scammers. Worst of all, these people already have bad credit and then find themselves making and losing more money to these scammers.
Most scammers on the market make false or misleading statements
They are out there promising to remove accurate and timely information from consumers’ credit reports and often charging hundreds of dollars up front for the service.
Here are some tips that I have collected from good internet sources, I have included the tips on the FTC website, they worked for me, so please read them carefully and use them to your advantage.
- Be sure to avoid any company that wants you to pay for credit repair services and do so before they provide any service. This is totally illegal and don’t be fooled by the setup costs, they are also illegal.
- Be sure to avoid any credit repair company that doesn’t clearly tell you about your legal rights and what you can do. There are so many things you can do yourself and for free.
- Be sure to avoid any credit repair company that reports to you that does not contact a credit reporting company directly. You should always contact them directly.
- Never discuss all the information. Be sure to avoid any credit repair company that advises you to dispute all the information on your credit report.
- Stay away from any company that suggests creating a “new” credit identity and a new credit report. Never ask for an Employer Identification Number to use in place of your own Social Security number. This practice is totally against the law. Not that if you follow illegal advice and commit fraud, you may also be subject to prosecution.
- They will throw out these golden words to try and persuade you to take action, so watch out if they say they can remove any of these types of negative credit information:
- Cancellations, collections, tax liens, bankruptcy, foreclosures, student loans, child support, late payments and judgments.
Remember one of the most important and notorious warning signs that they are scammers by avoiding the following: A company that requires payment upfront for credit repair services and making false or misleading statements.
top tip
Remember that there is nothing a credit repair company can do for you for a fee that you cannot do for yourself at little or no cost.”
And remember that
The first step is always to know what information is on your credit report.
I sincerely hope this information gets you thinking and action. I also hope it gives you some tips and some good advice on fixing your credit report to keep in mind when getting your credit report.