Avoid credit repair scams
Cleaning up your credit history could get you into more of a financial crunch if you hire the wrong company.
Here's how to not get conned.
These days’ banks are tightening up their guidelines and are clutching on tighter to the almighty dollar, making it harder to qualify for loans. This is a warning that some companies are using the credit crisis to take advantage of consumers who want to clean up their credit. Here are some top tips on avoiding these scams.
1: Get the skinny
According to the Better Business Bureau complaints against credit repair companies has risen 38% in the last three years.
Credit repair companies are popping up on the internet, direct mail, radio and other advertising media. Many of these companies are no more than letter writing campaigns that the client could have done themselves.
Many consumers are paying thousands of dollars for the services that make unrealistic promises and some companies are even promoting fraud having the client get a new Social Security number or paying to use someone else’s credit.
To start, you cannot remove accurate information from your credit report. Next, it is almost impossible to get a new SSN number. And as for buying someone else’s credit as an authorized user to raise your score, the credit bureaus have put a stop to that by changing their credit score cards compilations.
So the question is, is there a way to raise your credit score legally? The answer is yes! Hire a professional credit improvement and coaching company that helps you to manage your score in order to raise it as well as dispute the inaccurate negatives in which 78% of all reports have.
Strategic Credit Coach helps the client raise their score an average of 50 points over 90 days and does it many times without disputing a thing.
2: Know your rights
By law all credit repair companies should provide a client a copy of your consumer rights. This is a one-page document that tells you what your rights are if you dispute inaccurate information with credit repair companies.
Clients have the right to cancel a contract with any credit repair organization for any reason within three business days from the date the contract was signed, according to the Better Business Bureau.
3: Watch for Red Flags
A credit repair company should tell you your rights upfront, what you can do on your own, as well as what they are going to be doing for you.
Make sure you don't pay for any services upfront without providing you something for your money (i.e. are they providing any service or products before you pay them your hard earned cash?).
Don't do business with any company that encourages you to create an employer ID number instead of a social security number. And don't trust or believe offers that will let you use someone else's good credit.
Before working with a credit repair company, make sure you are referred by someone you trust or ask for referrals of satisfied customers.
4: Get legitimate help
So, if you have serious credit problems, make sure to get professional help and research your options.
Always try working with your creditors, don’t stick your head in the sand, stop the nutty cycle and seek professional help
At Strategic Credit Coach we are not a credit repair company, we are first a credit improvement coaching company that offers advice, tools, resources and unchanging truths to improve you credit and overall financial health.
Call us today at 877-825-7885 for a free consultation, or email guru@SCChelp.com
StrategicCreditCoach.com
Mission: We educate and coach people looking to improve their credit score and overall financial health so they are able to learn financial disciplines and achieve a more secure future.
Vision: To raise the standard of living for all people and inspire them to live their passions and dreams and have piece of mind.
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