Have you recently seen or heard a radio, television, or Internet advertisement featuring credit repair services that sound too good to be true? A simple phone call and a promise is often all is takes to guarantee “easy credit repair”, “but be warned,” says Bert Briones, an Orange County, CA bankruptcy/personal finance attorney.
Consumers desperate for help are being targeted by these services to help eliminate bad credit “overnight”. As a result, a high fee structure, coupled with a minimal or no positive result is often the case.
Identifying scams is not easy, but here are some ideas to help you weed-out disreputable companies:
- The credit repair company requires a full payment up front, in order for services to begin
- You are told to dispute all information on your credit report in writing, regardless of its accuracy
- You are guaranteed to have all credit information removed from your credit report, despite the information being true
- You are instructed not to contact the credit reporting agencies because the credit repair company will do it for you
Do not be an unsuspecting consumer. Completing any of the above actions may get you in serious trouble. In addition, withholding truthful information on a credit application is a crime due to misrepresentation.
Time and patience will help you more than anything else, as credit repair is not an easy task. If you choose to seek out assistance from an outside party, it is advisable to ensure that the service is legitimate and has the experience you need and strong references to prove it.
If you have questions regarding credit repair, debt settlement, or bankruptcy, please call Red Hill Law Group, PC directly at 877-343-3289, or use our contact form and you will be contacted within the next business day.Share