Welcome to Guide and Tips to Repairing Your Credit
Ftc Credit Repair Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
from: Can a Credit Repair Agency Really Help You Become Debt-Free?
If you’re becoming desperate in eliminating debt or clearing bad information on your credit report, you are probably one of the million consumers being tempted to hire a credit repair agency to deal with your financial problems for good.
Although many credit repair agencies are available in TV, newspapers and on the Internet that promises to erase bad credit, provide you with a new credit identity legitimately and remove bad loans and bankruptcies from your record, be aware that these agencies cannot do any good for your financial record that you cannot do on your own.
Without any fee, you can perform the tasks that a credit repair agency will do for you. All you need is a little time to spare, basic credit education, effort, discipline and a personal plan to repay all your debts that would lead to improving your credit rating and personal credit report.
Spotting a Credit Repair Scam
Credit repair agencies offer their services, for a fee, to clean your credit report from bad loans or bankruptcies for you to acquire mortgages, loans, insurance or a job. Unfortunately, a credit repair agency has no power to deliver these promises. Most companies will accommodate you with all your questions in eliminating your bad record and once you paid them for the job, they will vanish with hundreds of dollars from your pocket.
If you believe a credit repair agency can help you solve your financial problems, then it is important to spot whether a company can help you or not. Once you respond to a company that offers these services, several signs can warn you of scams that can save you lots of money.
First of all, fraudulent credit repair agencies will ask you to pay for their services before they would yield any result. Most companies that have no good intention will not educate you with your legal rights and about free options that you can perform to benefit your financial problem.
Be suspicious of companies that advice you to refrain contacting credit reporting companies directly. Another warning sign of scam companies is that they will promise consumers with a new credit identity and clean credit report. Be aware of what services the company offers by reporting them if a certain service may seem illegal.
It is important to understand that these quick fix options that credit repair agencies offer consumers are usually illegal, which could lead you to committing fraud unconsciously. Although the hard way of repairing credit can seem hopeless, it is still the most effective solution for credit problems.
Ftc Credit Repair Specific links
Ftc Credit Repair News
FTC Obtains Court Order Requiring Credit Repair Operation To Stop False Claims; Family-Run Scam Surrenders Cars ...
A credit repair operation has agreed to stop making false claims and stop charging up-front fees under a settlement with the Federal Trade Commission.
Read more...Anti-trust/Competition
United States: In Search of Exceptions to the FTC’s Amended Telemarketing Sales Rule - Don’t Put Your Neck in a Loophole!
Read more...'Debt tagging' can become nightmare
WASHINGTON -- Michael L. Hughes started getting the harassing phone calls several months ago. He figured they were from scammers and he tried to ignore them. Sometimes he'd pick up the phone just to hang up on them. Finally, he decided to find out what they wanted. The caller said Hughes was $12,...
Read more...There is help out there if you are blamed for another's debt
Washington Post Friday, August 13, 2010 WASHINGTON — Michael L. Hughes started getting the harassing phone calls several months ago. He figured they were from scammers and he tried to ignore them. Sometimes he'd pick up the phone just to hang up on them. Finally, he decided to find out what they wanted. The caller said Hughes was $12,000 in debt. He checked his credit report and realized what ...
Read more...When to call out the collectors
"Debt tagging" by collection agencies is a growing problem that can become a consumer's nightmare. Collection agency - Business - Financial services - Credit and Collection - Collection Services
Read more...'Debt tagging' by collection agencies a growing problem
Michael L. Hughes started getting the harassing phone calls several months ago. He figured they were from scammers and he tried to ignore them. Sometimes he'd pick up the phone just to hang up on them. Finally, he decided to find out what they wanted. The caller said Hughes was $12,000 in debt. Collection agency - Business - Financial Services - Business and Economy - Credit and Collection
Read more...Finance and Banking
United States: The New Consumer Financial Protection Agency: How Will It Affect U.S. Businesses?
Read more...