« Previous Post | Blog Home | Next Post »
Credit Repair Scams
Posted on Apr 26, 2007 by Michelle Pastor
If you have negative marks on your credit, the thought of removing the information can sound really appealing. Before you pay a credit repair company to work its magic, beware of the way they do it.
The most common strategy for credit repair companies is to dispute all negative information in the consumer's credit report. By law, the credit bureau must remove disputed information while it's under investigation. The credit repair company then orders another credit report. The second report typically shows that all the negative information has been deleted.
The only way a credit repair company can legally help you is by doing what you can do for free: dispute inaccuracies, then raise your score slowly by paying your bills on time and patiently waiting for negative information to fall off your report.
You can read more about credit repair companies in Asa Aaron’s column in the NY Daily News
Filed under: Credit, Fraud, Scams
Tags: credit repair
Comments
Dabo on May 9, 2007
I thought this post contained a thorough list of "ways" people can improve their credit score: http://www.mycreditsecurity.com/credit-report/top-ten-ways-improve-credit-score/
Dabo on May 9, 2007
I thought this post contained a thorough list of "ways" people can improve their credit score: http://www.mycreditsecurity.com/credit-report/top-ten-ways-improve-credit-score/
Post a Comment