C4 Credit Solutions
CREDIT REPAIR SCAMS – 7 WARNING SIGNS TO WATCH OUT FOR While looking for credit repair services in Atlanta GA, it is better to do a background check on the providers to ensure that you don’t land into credit repair scams. Credit repair companies may sound like the only way to improve your credit score, and some may promise to get you back on track in just a few days or months. Be careful not to let desperation for better credit leave you vulnerable to scammers who will take advantage of your situation.
HERE’S HOW TO IDENTIFY A CREDIT REPAIR SCAM; 1. If you are not provided with a copy of the Consumer Credit File Rights Under the State and Federal Law, then the credit repair firm may be a scam. The credit file rights has information about your rights to obtain a credit report and also dispute any information that is inaccurate on your credit report. A good credit repair firm will also let you know that you can repair your credit on your own.
2. A good credit repair company will give you a contract to go through before allowing you to sign it. You cannot agree to pay for services before knowing what the contract entails. Go through the contract and ensure that all the important information is included before committing. The information should include details of the services rendered, the charges, the duration of the services, and a statement of contract cancellation.
3. In case you are asked for payment before the commencement of the services, you are in the wrong place. The law prohibits charging upfront fees by credit repair firms, and by doing so, they are not only violating your rights but breaking the law as well.
4. A firm that assures you that it can clean your credit report by removing accurately reported information is a pure scam.
5. When the credit repair firm convinces you to create a new profile identity with a different social security number, know that it is a scheme and no good will come out of it. That will surely not help you regain your credit score .
6. Some firms will ask you to sign a form where you waive your rights under the CROA. It is a good thing that the CROA declares null and void any waivers of rights signed by credit repair companies. 7. If your credit repair provider does not consult with you regarding strategies for your credit, it probably is a scam. There is no way the company can tell you what they can do for your credit if they have no clue about your credit history. A good firm will inquire about your credit history and view your credit reports before discussing strategies. A good credit repair firm is credible, reputable, portrays longevity and has a money-back guarantee. Most credit repair companies will not charge you until they are sure that your credit score has improved through legal means. In your search, look for a firm that operatesunder the Credit Repair Organizations Act and will give you a copy of the Consumer Credit File Rights before working with you. They should also be able to offer you a contract that highlights your rights. If you discover that your rights have been violated by yourcredit repair provider, report the organization to the state attorney general and also send a complaint to organizations like the BetterBusiness Bureau, the Federal Trade Commission, and the Consumer Financial Protection Bureau.
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