Top 10 Credit Report Repair SCAMS – Consumer Beware

I am sure we have all heard that you can get your credit report repaired if you hire a credit restoration company. They can repair it usually as long as you pay them around $1000.00 bucks to do so. According to the FTC, a credit repair company is not supposed to collect money from you until services are rendered. Hmmmmmmm. Good luck finding someone that will do that. Ok, here are the SCAMS.

1. I will increase your Credit Score 150 points in 30 days.
2. I will remove late payments on your credit report, even though you were actually late.
3. Don’t pay collections it hurts your credit
4. We can remove collections even though you owe the debt
5. We can remove Bankruptcies even though it’s still within 7 years.
6. We can remove a foreclosure, even though it’s still within 7 years.
7. We can remove judgments, even though you owe it.
8. We can remove tax liens even though you owe it.
9. If the balanced reporting is incorrect we can get collection removed
10. If the Bureaus do not respond to a dispute within 30days, they have to remove item in question.

I am sorry folks, but if you have debt you owe, it will be on there for 7 years from original collection date. No one can delete a debt you owe. I promise. Here is a good link for FTC facts on credit report repair SCAMS. Don’t get me wrong, there are credit restoration companies out there that provide disputes for inaccurate information, and are not SCAMS. Typically credit repair companies prey on the desperate, and take advantage of them. So be careful. I would also recommend pulling a current copy of your credit report, and make sure everything on there is accurate. You can actually do everything credit repair companies do for a fee for free yourself. You can go here for quick guide on how to dispute your credit report.

Author: Mike Clover

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