Credit Repair: Is Self Help Best For You

It now seems almost impossible to turn on the TV or open a
newspaper any more without seeing another advert for some
credit repair service. My email box is overloaded with subject
titles like “Credit problems? No problem!” or “We can erase
your bad credit — 100% guaranteed.”. This must be a great
business to be in, some of these companies are now using
telemarketers to offer their services. They all seem to make
the same misleading claims, “Create a new credit identity —
legally.” or “We can remove bankruptcies, judgments, liens, and
bad loans from your credit file forever!”

Don’t for one moment believe these misleading statements they
are nothing more than a scam, lies designed to get their hands
on your hard earned money. These companies appeal to anyone who
has a poor or bad credit history. They will often promise, for
a fee of course, to clean up your credit report. This will then
allow you to get that car loan you wanted or that mortgage you
were turned down for, maybe you need a higher score to secure a
job. The real truth is, most of them can’t or won't deliver
what they promise you. Once you have paid them hundreds or
sometimes even thousands of dollars in fees these companies
normally do nothing to improve your credit score what-so-ever.
Some will simply just vanish with your money. There really is
only one way to clean up your credit report and that takes
time, a conscious effort on your part and a personal debt
repayment plan that will improve your credit score over time.

Here are some warning signs to look out for should you decide
that you would rather use the services of a credit repair
company rather than do the work yourself. Stay away from
companies that fail do tell you your legal rights, they must by
law tell you what you can do for yourself for free. A big red
flag to watch for are companies that recommend that you do not
contact a credit reporting company directly. Do not give your
money to any company that suggest you try to invent a “new”
credit identity, with a new credit report — by applying for an
Employer Identification Number to use instead of your Social
Security number.

Please keep in mind 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 is a federal crime
to lie or give misleading information 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 pretenses.

The Truth, The Whole Truth and Nothing But The Truth

It is not possible to legally remove any negative information
from your credit report that is accurate. The Fair Credit
Reporting Act (FCRA) does allow you to ask for an investigation
of any information listed on your credit report file that you
dispute as inaccurate or incomplete. There is no charge to you
for this service. Everything a credit repair clinic or service
could do for you legally, you can with a little time and effort
do for yourself at little or no cost.

According to the Fair Credit Reporting Act (FCRA), You are
entitled to a free credit report if a company takes adverse
action against you, like denying your application for credit,
insurance, or employment, and you ask for your report within 60
days of receiving notice of the action. The notice will give you
the name, address, and phone number of the consumer reporting
company.

You are now also entitled under the Fair Credit Reporting Act
(FCRA) to one free credit report from each of the consumer
reporting companies, Equifax, Experian, and TransUnion report
once a year, the year runs from September to end of August.
You will also receive an updated report every time to submit a
change to your report or ask for an item to be investigated,
giving you the results of the investigation. The free credit
reports will list all of the items shown on your credit report
but will not come with your credit scores, these you are
required under the Act to pay for, normally around $5.00 from
each provider.

About The Author: http://www.CarlHampton.com
http://www.fcdtcm.com http://www.iNeedCreditNow.com

John V
http://www.linkbrander.com/go/31070

John C. Vincent/CEO/The Opt.In Magic System
http://LawOfAttractionSite.blogspot.com
http://Opt-in-Magic.blogspot.com