Credit Repair Scams http://creditrepairscams.org Protect Yourself Against Credit Repair Scams Thu, 09 Jun 2011 20:48:33 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Credit Repair Scams, How to Avoid them ? http://creditrepairscams.org/credit-repair-scams-how-to-avoid-them.htm http://creditrepairscams.org/credit-repair-scams-how-to-avoid-them.htm#comments Thu, 09 Jun 2011 20:48:33 +0000 admin http://creditrepairscams.org/credit-repair-scams-how-to-avoid-them.htm Just all i wanted to know How to Avoid Credit Repair Scams ??

]]> http://creditrepairscams.org/credit-repair-scams-how-to-avoid-them.htm/feed 5 Credit Repair Fraud and Scams Demystified http://creditrepairscams.org/credit-repair-fraud-and-scams-demystified.htm http://creditrepairscams.org/credit-repair-fraud-and-scams-demystified.htm#comments Fri, 11 Jun 2010 05:25:46 +0000 admin http://creditrepairscams.org/?p=24 Many so called credit “experts” ( including the FTC & BBB) are putting a bunch of nonsense on the internet, and I want to set the record straight!  There are claims about what can and cannot be done with credit restoration.  Things like:  it’s illegal to remove negative items from your credit report; you can easily fix your own credit without using a credit repair company; if a credit repair service recommends that you NOT contact a credit bureau then they must be a scam; ALL credit restoration companies that require payment upfront is committing an illegal crime; etc.

Let’s break down each of these allegations:

1. Negative Item removal:  The law allows you to submit a request for the credit bureaus to investigate any QUESTIONABLE or inaccurate information on your credit report.  This basically means that if the credit reporting agency CANNOT validate or verify ANY negative or derogatory item on your report, then they MUST take it off…period!  And to be honest, just about anything can be “questionable” or inaccurate…exact balance due, date of charge-off, fees, assessments, etc.  If anything is questionable, then you have a legal right to dispute the item.

2. Fixing Your Credit Report On Your Own:  You have the legal right to dispute any questionable items on your credit report by yourself, but in reality, it’s not as easy as it sounds.  If you have minor issues on your report, then I suggest you send in a couple of dispute letters…you might get lucky and get it removed.  However, in most cases, the credit bureaus will respond to your letter with a mass produced “verified” letter…which basically denies your request.

If you have major items on your credit report, I can confidently tell you that your chances of removing those items by yourself will be slim to none!  So those claims of cleaning your credit yourself are just HOGWASH!

Let’s look at it this way…if you have a tooth ache would your try to fix your teeth on your own, or go to the dentist?  If you were being sued, would your represent yourself in court (because you can), or would your contact an Attorney?  Many government officials are advising that you can fix your credit on your own, but they don’t realize that it takes a specialist to do the job successfully!

3. Contacting the Credit Bureaus:  If you pay a credit restoration company to fix your credit, then why would you want to contact the credit bureaus if you don’t need to?  This is, however, your right to do so, however, just because someone recommends that you DON’T contact the bureau doesn’t mean that they are attempting to scam you in any way.  Each credit repair service has a certain protocol to follow, and the bottom line is that you are putting your trust in that company to do the right thing (which is why you need to do your homework when selecting the service), then you need to let them do their job.  The service provider needs to have full control over the process, and they do not want you to say something to the credit bureaus that could jeopardize the outcome.

4. Upfront Payment Is Illegal:  To a certain extent, this is true.  This rule mainly applies to credit repair companies that are not attorney based or legal entities.  However, if you utilize the services of an attorney backed company who specializes in credit restoration then that’s a whole different ball game.  Similar if you were to retain an attorney to provide counsel for your legal needs, you would either have to pay a retainer or full payment for services rendered as a FLAT FEE upfront.  The attorney can dictate their fee payment however they desire…so this holds true for credit restoration.  You will be paying for their service in advance as long as the company provides their service as promised.

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