Everyone goes through rough patches in their life. Falling into financial problems is a very common occurrence for people all over the world. When it comes time to try to get back on track, pay off debts, and improve your credit score you may come across many different companies and options when it comes to credit repair.
However you’ll want to do your research, beyond checking to see if they have a lot of online reviews or a working website. Every legit company will have to follow laws like those listed under the Credit Repair Organization Act (CROA). Let’s go through what to look for when choosing a legitimate credit repair company and a scam one.
First, every legitimate credit repair company or service out there must inform you, the customer, of the law in which they operate. The company or individual must disclose to you the right to repair credit under state and federal law. They must tell you that they cannot guarantee any concrete success as credit repair is tricky. Every credit repair company will also know the law regarding credit repair that falls under the Fair Credit Reporting Act (FCRA).
Second, credit repair services will also know the ins and outs of a credit report and what it means to have derogatory credit. Professionals will be able to distinguish between different lines of credit: revolving, installment, personal, etc.
Finally, every credit repair company will only ask for payment after some sort of service is rendered. Never trust a company that asks for money upfront before any form of consultation or repair. The company should go over your current credit report and talk about what needs to be done before anything else can be done, and this service should be part of the onboarding process rather than a paid service.
Some listings online may actually be scammers who can either steal a customer’s money or even steal a victim’s identity. It’s important to be aware of these scams and how to spot them.
The first red flag for a credit repair scam is when the individual or company demands an upfront payment or an advance payment before doing anything. According to the CROA, companies or individuals must provide some sort of service before asking for payment.
Second, credit repair services that say they can guarantee results are a definite scam. Companies cannot guarantee any sort of result for their services due to the CROA. Companies that offer the following as a guarantee are a scam:
Credit repair has no guarantees; thus, a company cannot guarantee anything.
Third, if a company or individual says that you must create a new identity, it is a scam. Any company that offers this kind of service is highly illegal and should be reported right away. This comes in two forms:
Both of these options are a sure sign of a scam company.
Finally, the company lies to you about repairing your own credit. Consumers have the option to fix or repair their own credit history and score under the FCRA. Credit repair companies simply offer the service to do this on the consumer’s behalf by using legitimate expertise and experience. However, if a company says you cannot do it yourself, it is an absolute lie. People are allowed to fix their own credit.
Even though it is possible for a person to repair their own credit, it can be a complicated process. This is where credit repair companies come in with their knowledge, experience, and resources. If you are still considering the option to go with a company, we at Fix Your Credit Consulting will offer a free consultation. Call us at (877) 212-2450 for more information.
If you have any questions, feel free to give us a call at 877-212-2450!
We also invite you to click on the following link to Interest: Selling a Car? Watch Out for This Scam
We also invite you to click on the following link to see our reviews on yelp.
The true sign of a business is one that could take your money, but instead tells you the truth that they can't help. I spoke with Sandra on behalf of a friend that had some credit issues and she determined that based on his report, she couldn't help him at this time. This company is wonderful and I would recommend to all friends and family having credit issues.
Thanks again Sandra for your honesty.
I've known Sandra for at least 10 years. She is a phenomenal person to work with and a super hard worker that cares about people. Do not hesitate to work with her and her amazing team. Jeff is wonderful as well!!
Thank you, team Fix Your Credit Consulting you are amazing*****
Sandra is the best she is patient kind knowledgeable and undertaking and provides a judgement free zone no matter how many times you find yourself calling her because life kicked your butt again .
Jeff is also great and super helpful and always is super on top of everything he does and every phone call . I owe them for helping get my life back
When thinking about what I was grateful for over the past year one interesting thing came up as a standout.
Perhaps credit services are not the typical thing to be thankful for at this time of year, and perhaps not for all standard reasons you might expect to hear in a gratitude tribute, but it goes like this...
Sandra is not just experienced and knowledgeable, but also calming in her manner. She was not judgmental and through mutual sharing made me realize things can happen to anyone and not to feel ashamed for inquiring about the subject of credit and all of the 'fun' things that can go along with it etc.
One of the most important things I am grateful for is how she was able to lower my stress level by not only being kind, but also by being respectful and truly understanding.
I am so glad I reached out to get a fresh perspective and get my queries answered on the way to fixing any related issues that need fixing.
Thank you so much again.
