Legal Credit Repair
There are many companies out there that claim to be legal credit repair companies but one should be very cautious. You could encounter a wolf in sheep’s clothing. So what is the distinction or how can you tell the difference? A lot of credit repair companies use dishonest and unscrupulous tactics that do not hold up under scrutiny. The Credit Repair Organizations Act (CROA) dictates what credit repair companies are allowed to do and they are breaking the law if they do not adhere to that. Many of these companies say they offer legal credit repair but are just using that terminology to get people to pay them their fees, and what they supply may not help your credit at all.
Legal Credit repair companies however operate by and according to the rules of CROA. They will not ask you for money for services which they did not supply. They will inform you of your right to obtain credit reports and possibly dispute any inaccuracies on your credit report yourself.
Legal credit repair companies will never ask or suggest to you that you should create a second identity to begin a fresh. Also they will not lie to you about services they provide nor will they ever ask you to waive your CROA rights.
Yes some companies will do this in the most subtle ways. Rest assured that any company that does these things is not a legitimate company. Steer clear.
You can and need to report any such company to The Federal Trade Commision. This is a government agency that governs credit repair companies and loves to go after illegal ones.
The bottom line is to keep in mind that there is nothing a legitimate credit repair company can do that you can’t do yourself. So why not save the money and do all you can do to fix your credit.
Do you ever see commercials that say “Bad credit? No problem!” or “We can remove bankruptcies from your record forever!”? Let me give you some friendly advice…don’t believe these claims about your credit.
Every day the media bombards us with companies that target people with poor credit ratings with outlandish promises that just are not true. They promise them that for a fee they will clean up their credit so you can get a new car or a home loan or a personal loan. Wrong. They can’t do it and they have just suckered you out of your hard earned money.
A little credit advice when you are trying to repair it. If you follow illegal advice and commit fraud you may find yourself needing a lawyer to get you out of the hot water. It is a Federal crime to lie on a credit application, or to misrepresent your SSN. You could be charged with mail fraud if you use the mail or internet or the telephone.
Just because you may have bad credit doesn’t mean it is the end of the world and it doesn’t mean that you can’t get credit. All creditors are not created equal. They look at your credit in different ways. Some may look at recent years to evaluate your credit and therefore give you a break.
There are a lot of people out there giving credit repair advice. Some of it is good and some of it is not so good. You have been diligent to try and clean up your bad credit. Use the same discretion about repairing your credit and you will do fine.
AJ Credit Repair 