Avoiding Credit Repair Scams

Posted By: Dr. Frugal in Credit on 08/07/2007 at 06:54:19

Some complains claim they can "fix" your bad credit history for a large sum. This can sound very appealing if you're desperately in debt and are being bothered by bill collectors. You should know, however, that it's legally (I stress legally) impossible to alter an accurate credit history. If you find yourself in credit trouble, develop a budget and work with your creditors to pay your debts and re-establish a good credit rating. There is no quick fix for this.

With so many people carrying too much debt, credit card repair scams are rampant. Dont' fall for anything that sounds too good to be true, because it will end up costing you money and will not solve your debt problems. Ads that promise to fix your bad credit, create a new credit identity, or remove bad credit information from your credit report are scams.

Errors in your credit report or outdated information can legally be removed, but you don't need to pay someone to do it for you. You can do it yourself by writing a letter to the credit bureau. Negative information can't be removed if it's accurate. Credit repair clinics may use illegal tricks to get something temporarily removed from your credit report but it will show up again the next month when your lender updates the information provided to the credit-reporting bureau.

Comments

No comments yet. Go ahead, be the first.

Leave A Comment:

*Name: URL:

*Message:


*Enter letters to help stop spam: dsvd

Sections

Frugality (71)
(1)
Budget (33)
Credit (31)
Currency (22)
Economics (86)
Loans (42)
Politics (18)
Saving (31)
Taxes (42)

Related:

Credit Counseling Service
Debix vs. Lifelock

Most Popular

Debix vs. Lifelock
Is Lifelock a scam?
Review: TurboTax
Need a Coupon for Essentials?
Free Turbo Tax 2016

Most Recent


Need a Coupon for Essentials?
Tips for Saving Money on Fuel
How to Choose the Best Bank
Saving for College
Verizon Promo Codes
Biggest Bankruptcy Ever

Feeds


RSS/XML Feed