Signs Of An Up To No Good Credit Repair Company
The power of a credit record is dominant
The power of a credit record is dominant. The moment you apply for a loan, insurance, new job or new credit, a thorough verification of your credit record is done by your creditors. This is the very reason why people with bad credit issues resort to different means and ways to repair it. This is where confusion starts as most people don't know what route to take in their credit restoration journey. The choice between performing the credit restoration by yourself or asking credit repair companies to do the restoration for you. While the most obvious answer is to do things on your own as you lessen the risk of running into a scams not to mention save money as the need to pay professionals to do the work for you is eliminated. On the other hand, seeking help from credit repair companies are perfect for people who find the credit restoration process overwhelming.
If you chose to use the second option which is to ask for help from credit repair companies, you need to be extra careful in dealing with this companies. Just because they offer removal of late payments, charge offs, debts, bankruptcies and foreclosure does not necessarily mean they can deliver the results that they promise. Add the fact that fly by night credit repair companies are popping out like mushrooms. When dealing with credit repair companies, you need to keep your eyes open for warning signs that may reveal the credibility of the credit repair companies that you are working with to help you restore your credit.
Sign Number 1:
If you are dealing with credit repair companies that require you to pay first before they perform any services, there is a huge possibility that they are fly by night credit repair companies. The worst thing that can happen to you is that these credit repair companies will disappear the moment they got your money. Another important thing that you need to consider is that credit repair companies can not require you to pay for their services unless they are done and have succeeded in giving you the results that you badly need.
Sign Number 2:
You have to know your right and the things that you can do on your own. Good and honest credit repair companies will inform you of your sovereign rights and will give you the options of whether you want to do this thing or that thing on your own or not.
Sign Number 3:
The moment the credit repair companies that you are dealing with tells you not to contact credit reporting bureaus directly on your own, there is a big chance that they are doing something that they don't want you to know. They could be concealing an illegal method that they plan to use in restoring your credit, they can be hiding something from you which you can perform on your own and so on.
Sign Number 4:
When credit repair companies suggest you to create a new and different credit identity, you are using an illegal method of erasing your bad credit. Using an employer identification number instead of your social security number may help you obtain a new credit report but will definitely cause more trouble. You are paying people in these credit repair companies to repair your credit in the right way.
by: Louie Pinto
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