With the increase in needs of credit repair; many companies were reformed to provide the services to remove people's negative items from their credit reports and to increase their credit score. This is a fact that where there is good, bad is also there and while searching you may find some fake and fraudulent companies. Lots of fake companies are available in the market; which are not only deceiving desperate people but also causing further damage to their credit reports.
If you are in search of a legitimate company for credit repair, you must know some common credit repair frauds so that you can beware of fake and fraudulent companies.
• Upfront Charges: - Whenever you will contact a company for credit repair, the fake company will demand upfront charges. This is clear sign of fraud because starting process does not require any cost so beware of those companies which ask for upfront fees.
• Unbelievable Offers: - Fake Company will try to realize that they are authorized to repair your credit and there is no matter your credit score will be up. The claim to remove bankruptcy, judgments, collections, charge offs from your credit report within no time. This is not possible and it is all depending on the credit reporting bureaus and your creditor to remove negative items from your credit report. The function of company is to prepare and forward the documents but not to interfere in the working of credit reporting bureaus.
• New Identity: - Fake companies will advise you to change your identity which is a criminal act. Many companies try to change the identity of consumer so beware of those companies which ask you for changing your identity.
• Unbelievable Time Period: - The normal time of credit repair is 35 days in case your all documents are appropriate. Fake companies claim minimum time period. Many people who require urgent credit repair get caught in their offers and not only waste their time but also lose a lot of money in shape of upfront fee.
• Guarantees: - The fake companies take guarantees to take money from your pocket. Any guarantee is not acceptable as it all depends on the worth of your documents and on your credit reporting bureaus.
Many people are unaware that the credit report can be used as a tool to erase bad credit. This can result in a boost to your score by a possible 200 points. Many negative items found on credit reports are disputable and can be removed legally to erase bad credit. Click the following link for free information on safe and legal ways to repair your credit:
William Roberts is an advocate for consumer rights and a member of organizations helping citizens rebuild their financial state.