Credit Repair Companies

It's likely you've heard about those who have sought out credit repair organizations for help to improve their credit report, but to have instead been taken in by bad credit repair scams. In order to understand what pathway to take to protect yourself against these scammers, you must know how they function.

Most those seeking help on the verge of declaring bankruptcy. It is these who are most likely to fall prey to credit repair scams. And why is this, Because they want fast results, and are unaware that raising their credit rating can take up to 12 months. Very often, they feel like time is running out on them, and unless they take fast action, it will spell future disaster.

Ironically, when they sign up with these scam artists instead of improving their financial situation, they will find themselves in even worse financial straits, because they've been deluded into chasing a mirage. These less than honest companies promise they will have all the negative remarks removed from your credit report. They will guarantee you that your credit score will improve within the next 2-3 months.

They attempt to do this by disputing every negative trade line in your credit report. The bureaus may initially remove some or most of the disputed items which they are unable to verify within the required 30 days. In the meantime, it will seem that this fraudulent agency has delivered on its promise.

But if the credit bureau is later able to verify the negative items, they'll end up back on the report - plus you will have earned a bad reputation - that of a scammer! They actually break the law with their tactics, such as using other people's identity to increase your overall credit, by offering to give you a new SSN, so that you can "start from scratch." Look out! Such tactics can land you in a lot of trouble.

Not only is it illegal to take up a "new" SSN, the number could have a police record attached to it, or any such things that will be much worse than bad credit. Most of the credit repair scams are characterized by the fact that they ask for payment in full up front. This is understandable, because they realize that you will eventually find out that they cannot really remove bad credit or improve your credit score as they had promised. And at that point, you won't pay them. In conclusion, credit repair scams are avoidable. Just don't forget that no matter how desperate your situation, look closely for the warning signs!

Things such as how to get your free annual credit reports, finding the mistakes in your report, how to dispute those mistakes, sound financial management and the like, are those things you can take care of for yourself. The company will teach you what you can do yourself with little effort, and what requires the expertise of professionals. The worth of the services they offer you can be judged based on this first interaction.

Tip No 3 - No aboveboard credit repair company will ever hint at using illegal means. There a lot of companies that advertise a "second or new" identity, complete and guaranteed removal of bad entries, increase of a poor credit score overnight and so on. Don't even consider believing such promises until you have visited the Federal Trade Commission (FTC) website and read what it says about repairing your credit score and report. You will be made aware that the credit repair services promised by these types of companies are fraudulent are even worse, illegal.

Tip No 4 - All reputable credit repair businesses offer, among their services, free and quality counseling. As discussed earlier, a legitimate credit repair service is always prepared to help you become financially self-sufficient. They will be ready to offer you the best of credit repair services and simultaneously teach you what you are able to do yourself. If you find that the agency discourages you from learning about credit repair, contacting a credit bureau, and/or discourage you from taking any action on your own, then they are clearly fraudulent.

Tip no 5 - I am leaving the best tip for last, because this is what will remain in your mind long after you finish reading. Check out whatever membership organizations to which the company belongs. For instance, many trustworthy credit repair companies are members of the ECRA (Ethical Credit Repair Alliance), which ensures that you - the customer - get the best possible credit repair services. Make certain your company of choice is a member of a reputable regulatory agency.

Having a good credit score is always beneficial as it can get you loans and advances that you might need at important times in your life. However, if due to any reasons, your credit score is not as it should be; you can take the help of Credit Repair Experts. A good credit repair company will help you improve your credit score and get you loans for education, new house or car that you had been dreaming of. Cost: As the primary factor, you must compare the fees charged by various credit repair experts to get the best deal.

As per the law, these companies cannot charge any fees before providing the services. Therefore you must check that the company that you choose does not ask for large upfront fee and only bills you for the service provided. Reputation and recommendation: As there, are fraud companies operating as well, you must choose reliable and recommended credit repair experts.

The best credit repair experts are those that have made a mark by getting good credit scores for several people. These companies do not indulge in illegal practices to improve client's credit but use proper channels to do the needful. Use of fair means: specialist credit repair experts will always advise you to pay your bills timely and offer other tips so that your payment schedule gets in line.



A company that uses file segregation or other means to improve credit score should be avoided. Also the company should let you discontinue the services as and when required. It should also let you improve your credit on your own. We are always there for improve your credit score in reasonable rate.