Avoiding Credit Repair Scams: Read Through The Following Helpful Tips

With the rising household records, many people find it good to file for bankruptcy to get out of this distressing situation. Most of them find it wise to consult the “credit repair” companies or the “credit counsellors” to make their filing process easier and effective. However, some of these counsellors and companies may turn out to be dishonest and instead make the situation worse and regrettable. Avoiding Credit Repair Scams is easy once you note that the credit companies:

*     Want you to pay the full amount for the credit repair services even before they provide you with any service.

*    Inhibit you from contacting the credit bureau officials or agents directly.

*    Do not make you aware of your legal rights and the process and actions that you should take on your own without charging you.

*    Ask you to take illegal actions such as creating new credit identities and dispute all information that your credit report contains. If you follow these ill advice, you will commit fraud, and the law will hold you responsible.

*    Suggest that you dismiss your Social Security Number and instead apply for an Employer Identification Number to get a “new” credit report.

Many people fall into the hands of dishonest credit counsellors when looking for reputable credit counselling agencies. The following tips are crucial in helping you avoid such credit counselling scams or when Avoiding Credit Repair Scams:

*    Check with the Better Business Bureau and other consumers agencies to find out if the credit counselling agency has complaints from consumers. If you find that they had some complaints, find out whether the raised complaints were resolved favourably.

*    Be keen when you find the promises from the credit counsellor too good, as this is a good way of Avoiding Credit Repair Scams.

*    Keenly go through the written agreement that the credit counselling agency provides and ensures that it contains detailed information about their total cost, business address, and name, guarantees it provides, payment terms and the services it provides.

It is not possible to avoid such scams without interacting with reputable legal service providers.

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