A Quick Guide For Avoiding Credit Repair Scams

A Quick Guide For Avoiding Credit Repair Scams

Credit repair is a hot issue these days, with people lacking financial control. Unemployment and stagnant wages have contributed to a growing number of people having to deal with the repercussions of bad credit. With the number of consumers in debt also rising, it is no wonder that credit repair has become such a pressing issue. As a result, a number of different companies have started offering credit repair services https://strongcreditrepair.com/. These companies are designed to help consumers negotiate for improved terms on their loans and credit cards and to help them manage their credit more effectively. In order to be sure you pick the right company for your situation, there are some things to look for.

The first thing to look for in a credit repair service is whether they offer dispute letters. A good company will provide you with the letter templates you need to write your own letter, so that you can quickly fix any problems with your report. By submitting disputes via mail, you will avoid the need to confront your creditor directly, which can be embarrassing or cause unnecessary delays. Additionally, having a dispute letter means that the company will do its best to get the bad credit removed from your report. If you have to submit a dispute via email, you can expect the process to be much quicker.

A second thing to look for in credit repair companies is whether or not they are members of the Association of Settlement Companies (ASC), or one of its closest branches, the National Organization for Credit Repair. The ASC is a self-regulating organization, so all credit repair companies are required to submit to the same standards of testing. However, not all reputable companies are signed up to the association, and this is why scams are able to exist. If the company you choose is not a member, you could end up dealing with a scam artist. Any reputable company will want to ensure you are not a victim of a scam, so requesting information on the company’s standing is very important.

Credit repair companies may also ask you to pay a flat monthly fee in advance, or even pay a lump sum amount for an initial period of time. These fees are generally quite low, and will not cover anything that has not been repaired. Unfortunately, some unscrupulous companies will ask for these fees in order to get an upfront payment from you in case there are problems, and then not fix anything. If the company requires you to pay a monthly fee before working on your account, this should raise warning flags.

Credit repair companies can also be found advertising on national radio and TV, as well as via the Internet. When searching for them online, watch out for advertisements that promise quick fixes and say that you do not need to worry about anything else because they will handle everything. Keep in mind that you can easily dispute any information that does not add up, and that contacting the Better Business Bureau can help you resolve any issues that you find. Credit repair is a legitimate process, and it can be done without putting undue stress on yourself, so before starting the process, make sure that you know what you are getting into.

As with anything else, doing your research is always key. Check to see if you state you have clear rights under the Fair Credit Reporting Act, and check with the Better Business Bureau to see if you can find any complaints against the company. If you find anything, move on and find a credit repair organizations act compliant firm to work with. This should protect you, and should keep you from going anywhere else. Remember that once you have done all of the above, you can go about repairing your own credit reports as much as you like.

Leave a Reply

Your email address will not be published. Required fields are marked *