| If you have bad credit, then you may be tempted to hire a
company that tells you that they can give you an entirely new
credit file, or remove bad marks from your credit
report--whether or not they're true.
Don't be fooled! The truth is, there are no shortcuts or magic pills that will give you a AAA credit rating.AAA credit will take time and a lot of effort on your part to make it a reality. And there are some scams that you need to be aware of so you won't fall victim to one of these questionable credit repair companies. Because of this, we've put together some guidelines to help you in the process. First of all, beware of any company that tells you they can remove true marks from your credit report. Generally, a credit repair scam that tells that it's possible will try to bombard the credit reporting agencies with inquires and hope that they won't respond in the given time-period. Or will simply take off the remarks to stop the incoming letters. Here's the truth: even if the scam operation does manage to get a few bad remarks removed from your credit report, they can always be added on again should the lender prove that the bad marks were true. Next, don't walk, run as fast as you can from companies that offers to get you a new credit report identity! Being part of these scams could land you in jail! Why? Because their mode of operation is to get you to apply for a tax identification number, which has the same amount of digits as your social security number, and then use it whenever applying for credit. The number will come up "clean," and you won't have to pay the consequences for your past bad marks. Now, here's the downfall. Lying to the federal government about your intended uses for a federal ID number is a federal offense--and guess who will take the rap? That's right--you--the person who actually filled out the forms "under penalty of law." Another sure sign that a company is operating a credit repair scam, and not a true credit repair company, is if they try to pressure you into signing a contract with them. They will likely want large, upfront fees and will tell you that the offer expires today, or use some other high pressure tactic. A company that is truly concerned about helping you to repair your credit will never pressure you or try and trick you into signing a contract with them. In addition, they will make it clear to you, that if you do change your mind within three days of signing, it's the law that you will be release from any obligation. Finally, you should accept the fact that no one can "repair" your credit if you've truly made the errors in your past. The only way to build a good credit report is to pay your bills on time, not extend your credit limits, and be careful not to apply for too many credit lines. Do all of these things on your own and you'll soon find yourself with a AAA credit report! About the author: If you would like to get more credit information you can visit our website which contains many credit resources. http://www.my-credit-report.info This article is copyright 2005, but can be freely reprinted, as long as no changes are made, including hyperlinks. |
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