May 16th 2008
5 Credit Repair Service Scam Tip-Offs
If you want to restore your credit, then you should keep some things in your mind. Contrary to the rosy picture given by such service providers, repairing your credit is not an overnight job. If your credit score is bad, organizations that promise to fix your credit score may have called. These credit repair services will not be any help to you. Below are 5 methods to determine if a scam credit repair service is attempting to fool you.
An Advanced Results Guarantee
Avoid any advanced results guaranteed by the company which doesn’t bother to look at your unique situation before it offers you that guarantee. Simply put, these are the people who will tell you whatever it is that you want to hear and then run off with your money in the end. It may be pleasant to hear the good tidings from a credit repair service but you just cannot decide on such services that make a grand promise with nothing to back it up. Often this is a warning sign that a company is not as legitimate as it may have seemed at first.
Requires a Large Up-Front Payment
If a company asks you to pay them up front, then you should be very concerned about their validity. This is even truer for those scam credit repair services that want a large payment before they will even begin. It is not a happy thought, but there are people out there who are looking to pull the wool over your eyes. If they can do that under the veil of repairing credit, then they will hold no punches. Before you dedicate a large portion of your money to a scam credit repair service up front, you should consult other credit repair help options.
Changing your Identification Numbers
If a credit repair service comes to you and makes promises of improving your credit score by giving you’re a brand new identity, you should run far away. These companies will often try to tell you that they can help you by giving you a brand new social security number or a tax identification number. Not only will this not help repair your credit, but it is also a crime. You can get into big trouble messing around with those sorts of numbers.
They Contacted You
Most reputable credit repair firms will not advertise by sending out spam emails. If you are checking out a service as a result of some spam that you got in your inbox, then there is a good chance that the company is a little bit less than reputable. Try to stick with a credit repair service that does their marketing in a more traditional way, as these firms are much more likely to end up providing a legitimate service to you.
Use your Common Sense
You should feel good about getting help so if you are nervous then there is probably a good reason for your feelings. This decision is no different than your other financial decisions, all of which should be made with common sense. By now you should be aware of the looks of a legitimate business and a scam. If you sense something is wrong or “off” when dealing with a certain company, it is best to look elsewhere.
