ArticlesReader.com Menu
Newest Articles
Most Viewed Articles
ArticlesReader.com RSS
Submit Article
Login
Signup
Search the articles

Articles Main Categories
Advice
Animals
Automobiles
Business
Career
Communications
Computer Programming
Computers
Entertainment
Environment
Family
Fashion
Finance
Food
Health & Medical
Home & Garden
Humor
Internet Business
Internet Marketing
Legal
Leisure & Recreation
Marketing
Other
Politics
Reference & Education
Religion
Self Improvement
Sports
Technology & Science
Travel
Writing
Subscribe
Receive alert message from us when new articles submitted to our site for free.

Enter your name

Enter your email

Syndicate

















Related Products
Home::Credit

Credit Repair Scams

Author : James H. Dimmitt
“Erase Bad Debt !”

“Remove Negative Items From Your Credit Report”



You’ve probably seen these headlines and others just like it promising to clean up or “fix” bad credit. For someone who suffers from a bad or poor credit rating, these headlines are certainly an appealing offer.



Imagine finally being able to buy that new car, get debt collectors off your back, and enjoy a new found freedom from your past debts.



Sound to good to be true ? It probably is. Once you fall prey to the credit repair offer and pay the hefty fees involved to clean up your record, hereÂ’s what happens:



1) The credit repair scam artist contacts the credit bureaus and reports that the negative information in your file is false.



2) The credit bureau removes this negative information from your report while they investigate the claim.



3) The scam artist will then show you the cleaned up version of your credit report and “ta-da” your credit history has been fixed !



But hereÂ’s what the scammer doesnÂ’t tell or show you. After the credit bureau completes their investigation the negative information is placed back on your credit report.



Negative but accurate information cannot be removed from your credit profile. Only incorrect information can be removed.



Accurate information remains on your credit file for a period of 7 years from the time it is reported to the credit agencies; a bankruptcy appears for a 10 year period.



Many legitimate companies exist that can help you with your debt problems. But how do you spot a scam offer ? Easy, theyÂ’ll ask you for their fees up front. By law, credit repair agencies cannot ask for payment until theyÂ’ve provided the service they promised.



Additionally many states require that a credit repair service, whether they are for-profit or not-for-profit, must provide you with a detailed written contract, an explanation of your legal rights, and the opportunity to cancel any signed contract within 3 days.



Also, be aware that a “credit repair offer” could be an attempt to steal your identity by getting you to provide personal information such as a Social Security number, bank account and credit card account numbers.



Always make sure you know who you are dealing with before accepting any offer to help you repair your credit. Those who donÂ’t can have their credit ruined further and create more debt problems.


Article Source: http://www.articledashboard.com





© 2005, www.yourfreecreditreportnow.com
Author: James H. Dimmitt
James is editor of “To Your Credit” a FREE weekly newsletter focusing on managing your personal finances and credit. Subscribe and get a FREE copy of your credit report when you visit: www.yourfreecreditreportnow.com





Spam emails More free articles

Related articles


  1. How Do I Establish A Good Line of Credit?
  2. A Debt Mentality
  3. Are You Worried About Credit Card Debt
  4. Say Cheese
  5. Better the Devil You Know
  6. Paying your credit card on time
  7. Did Your Credit Score Today?
  8. Free Credit Reports: Get Yours Today!
  9. Your Consumer Rights
  10. Building Good Business Credit After Bad Credit
  11. Online, Phone, U.S. Mail or In-Person: Where is Your Credit Card and Personal Identify Safest?
  12. How To Boost Your Credit Score
  13. Balance Transfers Can Help You Stop Putting Money Down The Drain!
  14. Shoppers Beware - 'Tis The Season
  15. New Law Provides Free Annual Credit Report
  16. Everything You Always Wanted To Know About Your Credit Report
  17. Tired Of Being Broke?...Learn How To Force Banks To Give You Money!
  18. Ways to Look Good without Selling Your Soul to the Credit Card Sharks
  19. Credit Report And Correction Techniques
  20. Ten Steps To Building A Good Credit History
  21. First Major Regulatory and Legislative Victory of 2005 for Creditors and Consumers
  22. When You Are Eligible For A Free Credit Report
  23. 10 Ways To Protect Your Financial Identity Being Used For Someone Else’s Shopping Spree
  24. Credit Cards, Merchant Accounts, and Your Bottomline
  25. Fun with Credit Cards
More related feeds
Credit Fraud Repair - What To Do If You Need Credit Fraud Repair ...
At times, our credit scores may be damaged as a result of financial problems. There are times; however, that credit fraud is the culprit that causes our ..

We need 50 original articles
Credit repair letters that work Fix bad credit reports Easy credit repair kit Credit repair fixes Repair my credit today How to fix lousy credit Credit repair kits that work Bad credit repair companies Credit repair scams ...

Credit Repair Scam
Credit Repair Scam Originally uploaded by sunvacants. We found this sign hanging on a phone pole near the Family Dollar on South Ave. THIS IS A SCAM! Never pay anyone to help you repair your credit or deal with other ...

How Much Can Credit Card Debt Hurt Your Finances
Mortgage system crumbled while regulators jousted Seattle Post Intelligencer - 13 hours ago Other laws encourage concurrent federal and state investigations of consumer violations regarding credit repair and telemarketing fraud, ...

Credit Repair Law Firms are Scams — by STAN P
There are hundreds of law firms out there that specialize in credit repair. I may get sued for writing this, but it’s my opinion that credit repair law firms like Lexington Law are scams. Here’s why:. Problem #1: Ridiculous Monthly ...

FTC Obtains Court Order Against Husband-Wife Credit Repair Team
The Federal Trade Commission charged two credit repair marketers with violating federal law by collecting advance payment for credit repair services and falsely promising to remove derogatory information from consumers' credit reports ...

Do you know how to repair credit?
This law is in place to protect you from a typical credit repair scam where a company charges a large upfront fee for service, often times in excess of $1000, and then disappear without doing anything to fix your credit. ...

Popular Email Scams on the Internet
3. Credit Repair. These scams tell promise to erase real and usually correct negative information that has been added to you credit report, so that you can qualify for loans, mortgages, unsecured credit cards, etc. ...

Scams for the Current Economic Crisis
Credit Repair Scams With the rise of the FICO Score as the primary grade of credit-worthiness, so rose a cottage industry of people claiming that they can clean up your credit, raise your score and open the door to low interest rates, ...

Credit Repair Fraud
From the FTC Press Release on Credit Repair Fraud: The Federal Trade Commission charged two credit repair marketers with violating federal law by collecting advance payment for credit repair services and falsely promising to remove ...

 


 

© 2007 articlesreader.com - All Rights Reserved