Home > Blogs > New York > Queens County > Queens > Credit Repair Scam’s
94,470 views

Manu's Blog

Manu
By Manu | Broker in Queens, NY

Credit Repair Scam’s

Posted under: Credit Score in Queens  |  December 27, 2010 6:32 AM  |  705 views  |  No comments
Email Alerts
RSS

Credit Repair Scam’s


Beware Dangerous Credit Repair Scam Guaranteeing To Remove ALL Derogatory Credit Information!

Credit repair guarantees and promises to remove any or ALL derogatory credit information are definitely dangerous and potentially illegal.

As much as you may want to believe it’s possible, no person or company (not even a law firm) can remove accurately reported and correctly verified credit information.

NOTE:
Outdated, time-barred and/or inaccurate credit information can be challenged and deleted (if that’s your preferred strategy) from Equifax, Experian and/or Transunion.

Regardless, credit repair guarantees and promises to remove ALL derogatory credit information are incorrect and legally problematic. Truth is, credit repair “opportunists” KNOW desperate consumers with bad credit buy on emotion, not logic. They KNOW desperate people turn off their brains & whip out their wallets, stepping forward to buy pleasure or remove pain.

Instead of credit repair,  call it CREDIT DISREPAIR
– and these opportunists sell the dream, stealing desperate people’s money –causing legitimate derogatory disputes to be flagged as frivolous or (worse) uninformed consumers to be sued!

 ■Yes, you can be sued when a credit (dis)repair company blindly fires off template dispute letters challenging legitimately reported derogatory credit information.

■Yes, the BIG 3 credit reporting agencies can flag (even) legitimate disputes as frivolous, preventing you from disputing them again.

Beware Credit Repair Guarantees! Desperate people think a law firm can & will fix their credit. PLEASE do not open your wallet, if you see credit repair offers promising or guaranteeing to remove LEGITIMATE derogatory credit information,
including:-

1.Bankruptcy

2.Foreclosure

3. Judgment

4.Charge-off

5.Collection

6.Repossession

7.Late payments

8.Loan defaults
including short sales

9.Negative
tradelines of any kind

10.HELOC (i.e.
home equity line of credit)

11.Or any other
negative credit information


Among the obvious credit disrepair traps may include:-

■The Company
wants you to pay for credit repair services before they provide any services.
Under the Credit Repair Organizations Act, credit repair companies cannot
require you to pay until they have completed the services they have promised.

■The company doesn’t tell you your rights and what you can do for yourself for free (see the FTC’s website)

■The company tells you they can get rid of most or all the negative credit information in
your credit report, even if that information is accurate and current.

■The company advises you to dispute all the information in your credit report, regardless of its accuracy or timeliness.

Think before you act!

www.goforshortsale.com

718-775-7557

previous
next
Email Alerts
RSS
Report  

POST
Send to a friend
Share this blog
Email Alerts
RSS
 

Contact Manu

Contact me
Copyright © 2012 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer