Olde Hornet
Well-Known Member
That company promising to fix your credit score? It could be a scam
Credit repair companies typically make you lots of promises that sound really appealing but are mostly empty words. Here's what you need to know.
www.usatoday.com
Credit repair companies typically make you lots of promises that sound really appealing. You can pay just a small fee, they’ll say, and you’ll get a brand new credit identity or will be able to make negatives on your credit report disappear.
The only problem is, most of these promises are nothing more than empty words. Many companies will just take your money and do nothing for you or, worse, will encourage you to engage in high-risk behavior such as committing fraud by lying on loan applications.
To make sure you don’t fall victim to a credit repair scam, it’s essential you understand the signs that a credit repair company isn’t legit. You also need to know your rights as a consumer, because there are laws in place designed to protect you from unscrupulous people and businesses that prey on your desperation for a good credit score.