In this post I share the 6 ways to identify a credit repair scam according to the FTC:

If you are not that organized or willing to do it yourself, work with a company referred by someone you know that has used them successfully.

Here are 6 ways to identify a credit repair scam:

" 1 * The company wants you to pay for credit repair services before they provide any services. Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the services they have promised.

2 * The company doesn't tell you your rights and what you can do for yourself for free.

3 * The company recommends that you do not contact any of the three major national credit reporting companies directly.

4 * The company tells you they can get rid of most or all the negative credit information in your credit report, even if that information is accurate and current.

5 * The company suggests that you try to invent a "new" credit identity - and then, a new credit report - by applying for an Employer Identification Number to use instead of your Social Security number.

6 * The company advises you to dispute all the information in your credit report, regardless of its accuracy or timeliness."

☺

Matt

Toll Free: 888-NCFIXER (623-4937)
Toll Free Fax: 888-FAX-4020 (329-4020)
Local: 860-282-6181
330 Roberts Street 4th Floor
East Hartford, CT 06108

credit repair company 

 

6 Comments on Credit Repair Scams

MAR
18
2010
299,551 Points 1 Featured Post Outside Blog Called Shot Master

Thanks for the tips and heads up.

Enjoy your day
10:08am • #1
MAR
19
2010
1,392,372 Points 28 Featured Posts Hit Router Called Shot Master

Thanks Matt, great information.  There's an awful lot of these scams going on now.
6:31am • #2
MAR
20
2010
320,796 Points 2 Featured Posts Localism Sponsor

One scam is too many when it happens to you!
9:54am • #3
MAR
22
2010

Imagine if all the people who invent all these various scams actually put their ingenuity into helping the world. We might get so much done.

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9:30pm • #4
MAR
25
2010
627,283 Points 16 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Oh, wow. This is good stuff to know, Matt.
2:53pm • #6
MAR
26
2010

Matt ... Credit challenged families are so stressed out that they will grasp at anything they think will keep them from drowning. Rick
7:56am • #7


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