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Have Credit? Beware!
Everyday
companies nationwide
appeal to consumers
with poor
credit histories. They promise, for a fee, to clean up your credit
report so
you can get a car loan, a home mortgage, insurance, or even a job. But
watch out, after you pay them hundreds or thousands of
dollars in
fees, these companies do nothing to improve your credit report; and
many simply
vanish with your money.
Warning Signs
If you
decide to respond to a
credit repair offer,
look for
these tell-tale signs of a scam:
- companies that
want you to pay for credit repair services before they provide any
services.
- companies that
do not tell you your legal rights and what you can do for yourself for
free.
- companies that
recommend that you not contact a credit reporting company directly.
- companies that
suggest that you try to invent a “new” credit identity — and then, a
new credit
report — by applying for an Employer Identification Number to use
instead of
your Social Security number.
- companies that
advise you to dispute all information in your credit report or take any
action
that seems illegal, like creating a new credit identity. If you follow
illegal
advice and commit fraud, you may be subject to prosecution.
Under the Credit
Repair Organizations Act, credit
repair
companies cannot require you to pay until they have completed the
services they
have promised. For more on Title
IV of the Consumer
Credit Protection Act, click on the link below.
Free Counseling Help Is Available
I am happy
to
assist you in cleaning up your credit report at no cost and work with
you to
increase your credit score and credit worthiness.
It is not as hard as
you would think. Get
Started Here Now
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Associated Press - (APTN)
Jul. 25, 2007. 04:10 PM EST
Not
paying attention to your credit score can cost you a lot of money, from
your credit card bills to your car loan and mortgage payments.
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