If it has been a while since you've looked at your credit report, you may be stunned to find errors, mistakes, or possibly even a black mark or 2. Luckily , a Credit Repair Company can help you fix those mistakes and erase those black marks. Keep an eye out for fraudsters, though, and choose a credible Credit Repair Firm with these tips: Don’t pay anything up-front Avoid a Credit Repair Company that would like you to hand over a charge or payment before they meet with you.
Reliable companies will first chat to you, assess your credit history and discuss your present situation before asking for any type of payment for their services. An up front charge is a red flag that the company will most likely take your cash and run. And regardless of what sort of charges you may sustain, be totally sure they are not exorbitant. If a Credit Fixing Firm claims your case will cost thousands of dollars, look for another one.
Watch out for “re-inventors” Some firms will tell you that you can wipe your credit slate clean by “re-inventing” yourself with a new social security number. But that is not true! Usually, what they intend to do is get you a new credit history by signing up for a Worker Identification Number (EIN) —used by businesses—which is like a SSID number, and you are told to use it as such. But this practice, known as “file segregation,” is a trick, and it's also illegal! Avoid any Credit Repairing Firm that suggests this practice.
Look for one that will help you help yourself A good Credit Repair Company will tell you (for free) what you can do yourself, for example writing letters to creditors and contacting the credit reporting bureaus about mistakes. Avoid any Credit Repairing Company that encourages you to do anything illegal or unethical—such as disputing a legit charge or fee on your credit report.
Before signing up with any Credit Repair Company, make sure you check with the Better Business Bureau. They will have records of any formal grouses against the company, so that you can avoid conmen and rip-off artists.
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