DIY Credit Repair Is Better Than a Credit Repair Company

July 29, 2009 | Filed Under Money

by Jon Baker

Don’t Fall For a Credit Repair Scam

You see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get ads in the mail, and maybe even cold calls offering credit repair services. They always make the same claims:

“Credit Score Down? No problem!”

“We can easily remove all your bankruptcies, tax liens, judgments and bad loans from your credit file for ever!”

We can legally erase bad credit - 100% guaranteed.

Create a completely new credit identity - legally.

It is rather dumb to believe these claims: they are in many cases signs of scam operations. Many professionals even state that there is not one real credit repair company that tries to make those claims. The truth of the matter: most often there is no fast solution for bad credit and creditworthiness. The truth is, however that you can actually improve your credit score legitimately, but it does not happen over night and it takes a persistent effort. And also you should stick to a personal debt repayment schedule.

Here are some warning signs that go along with a Credit Repair Scam

All the time, companies target uninformed consumers who have poor credit histories with promises to clean up their credit report so they can get a car loan, a home mortgage, insurance, or even a job once they pay them a fee for the service. The truth is, these companies cant deliver an improved credit report for you using the tactics they promote. No one can legally remove accurate, but negative information from your credit report. So after you hand them over thousands of dollars in fees, you are often left with the same credit report and someone else has your money.

If you encounter a credit repair offer, here is how to tell if the company or firm behind it is crap:

The service organization does not tell you all your rights and what you can do for yourself to repair your credit for free.

The lawyer recommends that you refrain from contacting any of the three major national credit reporting companies directly yourself.

The organization or individual suggests that you try to create a brand new or false credit identity - and then get a completely new credit report - by applying for an EIN number, so that you use that instead of your Social Security number.

The organization wants you to pay for credit repair services before they provide you any services. Under what is called the the Credit Repair Organizations Act, companies that are offering to repair credit, cannot require you to hand over the money, until they have completely delivered the services they have advertised.

About the Author:

Why pay for credit repair program Info help Firm if you can do it yourself free. Legally Raise Credit Score 100 pts. in 30 days!

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