How to Restore your Credit after Identity Theft
December 5, 2016
Bad Credit Personal Loans: Loans Irrespective of Credit
December 9, 2016

Credit Score Repair

business credit, credit repair, business loan, credit sweep

Credit Score Repair

If you have been surfing the web about credit score repair , you most likely have bee deluged with enticing ads and guarantees of erasing your bad credit from the credit reporting agencies. Well, it sounds really great all right, but is it really true? The Federal Trade Commission (FTC) has issued a press release in the form of a Consumer Alert on this, from their website we found: “If you are looking for a magic pill to fix your credit problems, do not believe promises like the following. There has been a signifigant increase among so-called “credit score repair - credit repair” companies who charge anywhere from $50 to in excess of $1,000 to “fix” your credit report. In many of the cases reported, these businesses have no problem taking your hard earned money and do very little or absolutely nothing in improving your credit report. Many times they just seem to vanish.” The FTC further adds, that there is no quick and easy way for credit score repair. If some credit score repair company offers to “cure” your past history of credit reporting, then use some caution. Keep in mind, that you can probably do what this credit score repair company offers to do in credit repair can be done using challenge or dispute letters.

Protecting Your Credit

If you are considering using a credit score repair business in helping the resolution of your credit history past, be sure to take these few following steps in order to prevent these common credit repair scams: * First, check out the credit score repair company on the internet by doing a search for reviews or scams by of the company in question. You can always ontact your state's attorney general office, Better Business Bureau, and other state or local consumer affairs agency. Should you find that there are multiple complaints and/or legal actions taken against the company, then it’s in your best interest not to do business with them. * False claims of incredible results are abundant and a lot of this is due to sheer marketing ploys. A common ploy using by some credit score repair companies, i that they will tell you that they can change or erase accurate information in your credit report. However, this is not the truth. Plus, if they ultimately deliver on this promise, they most likely have done so through questionable or possibly illegal means. * Normally, the cost you pay is a nominal per letter fee to correct (repair) errors within your current credit report. So, if the credit score repair business demands a sizable amount of money in advance, use extra caution. The most common attraction for consumers is the old Money-back guarantees as these can be costly and time consuming if the company is dishonest. We need to say however, that there are a number of legitimate credit repair businesses that truly seek to correct credit reports and scores. But due to many legitimate and false reports and/or complaints from consumers, who have been either misled or deceived by fraudulent credit score repair businesses, now 30 US states have been seen to enact laws to control the practices of these credit repair agencies. These are the same agencies whose declared purpose was to investigate the credit repair businesses in existence!!!

So, in conclusion, if you need credit score repair to improve you score - you can do it yourself! Check out the personal section in Credit Mastery : Business Credit - Personal Credit for dispute letters that will work for you!

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: