If you have financial problems, don't go with a company that tells you that they can give you an entirely new credit identity, or remove bad marks from your credit report within a few weeks, whether or not these statements are true.
The truth is, there are no shortcuts to building an AAA credit history with a high credit score on your credit report. It takes time and a lot of exertion and sweat for you to make it a reality. In the meantime, there are some
scams and credit repair traps that you must to be aware of so you won't be a victim to one of these questionable credit repair companies. Here are some guidelines for you to follow.
1. Always be aware of any credit repair company that tells you that they can remove true credit items from your credit report. A credit repair scam that tells you it can be done will try to bombard the credit reporting bureaus with inquires and hope that they won't respond or will take off the remarks to stop the incoming letters being sent in.
The truth is that if the scam operation does manage to get a few bad credit entries deleted from your credit report, these items can and will be put back on your credit report if the lender proves that the bad credit accounts were true. This is called a 'soft delete" and happens all the time to unsuspecting victims.
2. Run from any party that offers to get you a new credit identity as part of their credit repair! Why? Because you could go to jail for identity theft. The reason is that they get you to apply for a tax identification number which has the same amount of digits as your social security number, and then use it whenever applying for credit. The number will come up clean, most of the time, and they tell you that you will not have to pay the consequences for your past bad credit accounts.
Or they try to sell you a Credit Privacy (CP) number which is either a made up 9 digit number to resemble a Social Security Number or is actually a pre-teen or a teen's actual Social Security Number issued to a young child. The scam artists may even tell you that the CPN is unused Social Security Numbers issued to hospitals for new born children that were never used. This latest offering sounds true, but is a lie.
Now, here is your illegal downfall... the reason for your jail time or Federal prison time. Lying to the Federal government about your intended uses for any Federal ID number or a Social Security number is a Federal offense...
And guess who will take the rap? You're right! The person who actually filled out the forms under penalty of law or who used another person's Social Security number as your own against the Federal Social Security Act.
3. If the person or company is not a true credit repair business and is operating a credit repair scam, is when or
if they try to pressure you into signing a binding agreement or credit repair contract with them. They will probably want a large, upfront credit account deleting fee and will tell you that their special offer expires today and this is your last chance to have good credit again in a matter of weeks and not the usual seven years for the bad credit accounts to drop off your credit report files. There are many high pressure tactics, so beware.
A true credit repair company will never pressure you or try and trick you into signing any agreement or contract with them if they are truly concerned about repairing your credit and if you change your mind about using their service within three days of signing, you will be released from any obligation.
Finally, no one can repair your credit and get the true credit report account entries deleted if you've truly made some errors in the past. To build a good credit report and credit history is to pay your bills on time, do not get in debt more than 30% of your credit limits, and be careful not to apply for too many credit lines in a thirty to sixty day period. Credit repair does work and if you are in a financial bind, a true, legal credit repair firm will help you to get a great credit report!
Komentar
Posting Komentar