„Get Out of Debt!“ „Remove Negative Items From Your Credit Report“

Chances are you’ve seen at least one of these tempting ads dangled in front of you, promising an end to all that bad credit. For someone who suffers from a bad or poor credit rating, these headlines are certainly an appealing offer.

Isn’t it wonderful to be free of all the shackles that bind people with bad credit, from those annoying debt collectors to the stigma of simply having a negative credit rating?

Yeah, it probably sounds too good to be true. You betcha. Take a look at this article if you want to see what really happens once you accept a credit repair offer and find your bank account drained by the usurious fees required to purportedly erase that bad credit record.

The credit repair scam artist contacts the credit bureaus and reports that the negative information in your file is false.

The credit bureau removes this negative information from your report while they investigate the claim.

The scam artist will then show you the cleaned up version of your credit report and „ta-da“ your credit history has been fixed !

But of course, the scammer will always withhold some pertinent information. After the credit bureau completes their investigation the negative information is placed back on your credit report.

You cannot remove negative information from you credit report so long as it is accurate. Only incorrect information can be removed.

Accurate information remains on your credit file for a period of 7 years from the time it is reported to the credit agencies; a bankruptcy appears for a 10 year period.

But on the other hand, there are other companies in existence, seemingly legit, that can purportedly clear up bad debt. But how do you pick out the bad apples from the bunch, meaning scam offers? Easy, they’ll ask you for their fees up front. Credit repair agencies are governed by laws which state that they are not to ask for payment until the service requested is delivered.

Additionally many states require that a credit repair service, whether they are for-profit or not-for-profit, must provide you with a detailed written contract, an explanation of your legal rights, and the opportunity to cancel any signed contract within 3 days.

You will also have to be wary of so-called „credit repair offers“, which may be, in actuality, an attempt to surreptitiously grab a hold of your personal information, like your Social Security and bank account numbers, in order to perform identity theft on you.

Always make sure you know who you are dealing with before accepting any offer to help you repair your credit. Those who don’t can have their credit ruined further and create more debt problems.

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