Credit Repair Facts
Credit Repair can make things a lot easier on you. Repairing bad credit is not easy, but you should repair your credit if you want to get back on your feet again. Our experience comes from dealing with the Courts and Credit Reporting Agencies on a daily basis as we search accuracy for judgments, liens, charge-offs, creditors etc. In the same way we use this information to collect money we use this experience to correct and improve your credit report.
File Segregation: New ID Is a Bad Idea
If you have filed for bankruptcy, you may be the target of a credit repair scheme called “file segregation.” In this scheme, you are promised a chance to hide unfavorable credit information by establishing a new credit identity. That may sound perfect, especially if you’re afraid that you won’t get any credit as long as bankruptcy appears on your credit record.
The Truth About Credit Repair Companies
More than 80% of Americans have at least one or more negative or inaccurate items on their credit report, and unfortunately, just a small percentage of those people are aware that credit restoration is a legal option. By using the rights provided by Federal law and the Fair Credit Reporting Act, we have removed tens of thousands of negative items from our clients credit reports.
Credit Repair Companies that tell you they can repair your credit and give you a new credit report profile or build a new credit file know more about credit repair law then those who make the laws? I don’t think so.
Do not be taken, I work in accordance with the law. I follow the guidelines and will get you the best legal results possible and then teach you how to improve your credit score once we clean it up to the most accurate state possible.
Things to Be Cautious of Repairing Credit
You see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail. You may even get calls from telemarketers offering credit repair services.
They all make the same claims
“Credit problems? No problem!”
“We can erase your bad credit,100% guaranteed.”
“Create a new credit identity — legally.”
“We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!”
Do yourself a favor and save some money, too. Don’t believe these statements. Only time, a conscious effort, and a personal debt repayment plan will improve your credit report.
The Scam: 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. The truth is, they can’t deliver. After you pay them hundreds or thousands of dollars in fees, these companies do nothing to improve your credit report; most simply vanish with your money.
The 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.
Be careful of Credit Repair Companies that do not tell you your legal rights and what you can do for yourself for free.
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. You could be charged and prosecuted for mail or wire fraud if you use the mail or telephone to apply for credit and provide false information.
It’s a federal crime to lie on a loan or credit application, to misrepresent your Social Security number, and to obtain an Employer Identification Number from the Internal Revenue Service under false pretences.
The straight truth and facts about credit repair
The Florida Attorney General says the same about repairing credit.