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How to avoid credit repair scams

by , 09 September 2014

The number of people struggling with consumer debt is on the rise, making it the perfect opportunity for credit repair scammers to thrive. If you're not careful, you could be the victim of credit fix scams, which promise to erase all your bad credit and give you a fresh new identity.

These scammers try to fool consumers with bad credit histories. They often promise to get consumers' names removed from the blacklist and to give their credit history a complete makeover.

 
However, be warned that there is no quick fix for bad credit. Anyone who claims they will improve your credit score and erase your bad credit if you pay them a reasonable fee is only trying to scam you.
 
The truth is that you cannot remove current information from a credit report – this information is only erased after a certain time has passed.
 
You can easily obtain a free credit report from your credit bureau. You are entitled to receive a free report every 12 months.
 
Before considering contracting credit repair services, keep in mind the following:
 
- check the name of the service provider and make sure it is a registered business;
 
- be wary of any company that wants you to pay a fee before any service is provided;
 
- be wary of anyone who tells you not to contact the credit bureau directly;
 
- be wary of any company that promises to remove credit information from your credit report;
 
- be wary of anyone claiming to work for the credit bureau – call the credit bureau to confirm;
 
- be wary of anyone who tells you to create a new identity;
 
- keep in mind that credit repair companies cannot actually repair your bad credit.
 
If you think you’ve been the victim of a credit repair scam, report this to a lawyer. Run checks on companies that promise to repair credit and find out if other people have filed complaints against them.

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How to avoid credit repair scams
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