Info On Credit Correction Scams
Monday, January 30th, 2012You see the advertisements in papers, on TV, and online. You hear them on the radio. You get fliers in the post. You may even get calls from telemarketers offering credit repair services. They all make the same claims:
“Credit Problems? No problem!”
“We can erase your bad credit-100% guaranteed.”
“Create a new credit identity-legally.”
“We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!”
Do yourself a favor and save some money, too. Do not believe these statements. They are just not true. Only time, a conscientious effort, and a plan for repaying your debt will enhance your credit history.
The Warning Signs
If you should opt to make a response to an offer to mend your credit, think carefully. Don’t deal with any company that:
* would like you to pay for credit fixing services before any services are supplied
* doesn't tell you your legal rights and what you can do yourself — for free
* recommends that you not contact a buyer reporting company immediately
* means that you try to invent a “new” credit history by signing up for an Employer Identification Number to use rather than your SSID Number
* recommends you to object to all info in your credit history or take any action that appears illegal, for example creating a new credit identity. If you follow illegal guidance and commit fraud, you could be subject to prosecution.
You might be charged and prosecuted for mail or wire crime if you use the mail or telefone to apply for credit and provide fake info. It is a Fed crime to make fake statements on a loan or credit application, to misrepresent your Social Security number, and to obtain an Employer Identification Number from the IRS under fake pretenses.
Swindle artists are out in force with all of the subprime mortgages and card debt. They like to live upon the feeble and needy. Take care.
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