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Beware Of Scams With Credit Repair Companies

By
Real Estate Agent with Keller Williams Realty 0575737

Piggy BankOftentimes those seeking a rental home, people with erratic income, folks coming out of divorces, some first time home buyers, people just in difficult life circumstances, they have a dinged up credit report that needs some work on it. But in finding a reputable company to assist them

Beware Of Scams With Credit Repair Companies

Watch out in this area if

  • they encourage you to lie on credit applications
  • request fees up front ahead of rendered services
  • promise a quick fix faster than two to three months for minor problems
  • come to you with an unsolicited email to do business with them
  • want to erase accurate items that are less than 7 years old
  • do not want to give you a written contract spelling out terms and performance from them you can expect
  • want to create a new Employee ID Number for you
  • do not give you a copy of your consumer rights
  • they are found with many complaints at the BBB or FTC

A very good connection resource to avoid these problems of course is your high integrity trusted advisor REALTOR who most often partners with mortgage lenders who partner with credit repair companies that are not scammers and that will lead you in time to a higher credit score. Then you can get that new home with ease.

Work with folks you can trust who are ethical, hard working, will follow up with you, and are always there for you. Beware of all scammers. They just want your dough, then they will not show.

John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Hi Gary.  A very good post that  I hope many will read and act upon.  Your last three sentences sum it up perfectly. 

Work with folks you can trust who are ethical, hard working, will follow up with you, and are always there for you. Beware of all scammers. They just want your dough, then they will not show.

Apr 03, 2012 02:34 AM
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

It is simple to fix ones credit. Obtain copy of credit report and pay ones bills.

Apr 03, 2012 03:29 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It is best to work ar it on your own once you get the proper advice.

Apr 03, 2012 03:53 AM
Christine Bohn
RE/MAX Professionals - Gainesville, FL
The Bohn Team, Gainesville FL

Hi Gary - Excellent advice!  I will share this :)

Apr 03, 2012 04:31 AM
Eileen Hsu
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Good points Gary. It is very sad to see scammers trying to capitalize people working on repair their credits.

Apr 03, 2012 05:28 AM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Gary, isn't it a shame that people even have to worry about this. Taking advantage of people when they're already down is just heartless.

Apr 03, 2012 06:05 AM
Christine Bohn
RE/MAX Professionals - Gainesville, FL
The Bohn Team, Gainesville FL

Gary - You ok???   I see the weather reports, I hope you are safe!!

Apr 03, 2012 06:23 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

There are so many crooks preying on people that I bet you only hear a small portion of it. The reason you don't hear about more scams is because people are too embarassed to report it, to let anybody know they were suckered.

Apr 03, 2012 07:17 AM
Cherise Selley
Selley Group Real Estate, LLC - Colorado Springs, CO
Colorado Springs Realtor

Gary,

Nice pic!  It's amazing how many people who are financially broken will desperately turn to those who offer snake-oil type solutions... g

Apr 03, 2012 08:16 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

John: Get good advice, then follow a sound plan.

Harry: People get behind with the bills with divorces and sickness and such and it just feels like they have over extended themselves and all of a sudden their credit score plummets. But paying the bills is the best to do.

William: Taking good care of your own credit is smart.

Christine: Thanks for your re-blog and I am safe here with the tornadoes that came through DFW today. Fairly extensive damage in some areas, but luckily only minor injuries.

Eileen: Sad is a good word for the scammers I agree.

Connie: Heartless people will have the karma go against them some day so beware to those folks.

Elizabeth: I like the thought that people are suckered and embarrassed to report. That probably happens often.

Gordon: The snake oil types are the worst I agree, and maybe there are more shysters than the good companies.

Apr 03, 2012 09:25 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Gary  Yes it is sad that there are vultures out there that take advantage of others misfortunes

Apr 03, 2012 09:37 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Hannah: Vultures, I think you nailed their description with that word.

Apr 03, 2012 09:54 AM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Gary, I think the best way to repair your credit is to pay your bills on time and pay down your credit cards.  The gimmic guys are often scammers.

Apr 03, 2012 12:10 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I never trust those guys. I might be on to something I guess.

Apr 03, 2012 12:25 PM