There are many companies out there who will offer you credit repair for
a fee. Many of these companies will take your money and offer little
in return. Some will even recommend fraudulent practices to improve
your credit score. Here are a few things to look out for:
-
The credit repair company wants you to pay up front before they
do anything for your. It is illegal for them to do this under the
Credit Repair Organizations Act. -
The company doesn’t tell your your rights nor offer you any solutions
that you can do for yourself for free. -
They tell you not to contact ant of the credit reporting bureaus.
-
The credit repair company tells you that the can legally remove
the negative things in your file even if the entry is accurate. -
The company tells you to invent a new credit identity as a means to
repair your credit. This practice is illegal as each person
can only have one social security number.
