Credit Repair Scams – What are the Signs? (And the Surprising Way MANY News Stories Report on Credit Repair Offers)
Credit repair SCAMS are out there.…..no question about it.
But what drives me NUTS is how much bad information there is out there, by seemingly “mainstream” news media about what credit repair REALLY is. As a matter of fact, the article below I just browsed from the Pacific Daily News is a PRIME example of poor journalism that is RIDDLED with errors. Why? They tell you that if a credit repair clinic tells you that they can get items off of your report, to run the other way.
The reason? They say that CORRECT information cannot come off of your report.
That is PATENTLY false….and if laughably funny…..and is the reason why so many seemingly reputable reporters are simply too LAZY to do the real research before writing a story like this one. The fact is, for better or for worse, BAD information on credit files that is CORRECT comes off every hour, of every day…..PERIOD. IF the item is not verified……by LAW, it comes off. (it has nothing to do with accuracy – it’s about verification, and often the bureacracy that prevents that from happening which works in YOUR favor if you’re credit is bad)
Check out the article below for 10 ways to spot a credit repair scam…….but be WARNED – about half of their advice is pretty bad..:-)
6. You get a cold call after filing bankruptcy. Bankruptcy filings are public record. If you get an unexpected call from a credit-repair agency that promises it can get you a new credit report quickly, don’t believe the hype. It will only take money you can’t afford to lose.7. Representatives say they accept only cash.
Don’t let desperation cloud your judgement. Pay by check or some other form of reversible payment, so you can create a paper trail. You may need it to protect you.8. The company claims to know a secret loophole. If a salesman tells you that the company has a secret system to improve your credit or that it can do something you can’t do, don’t believe it.
Be wary of credit repair scams | Pacific Daily News | guampdn.com