The Many Credit Repair Myths Exposed There are many credit repair myths out there and the purpose of this information is to clear up the popular ones and give you some valuable credit repair information that you can use to improve your financial situation. There are so many outrageous and ridiculous claims being made all over the Internet by credit repair companies that spring up with one goal; to collect as much money as possible from unsuspecting and desperate people. Often times these companies disappear and then resurface with a different name just to repeat the practice. It is a shame, but consumers with poor credit are often very desperate to fix it that sometimes they fall for these false statements in hope that they are true. In the back of their mind they know that they probably are not true statements, but they hope that there is a slight chance they will get what is being claimed and advertised. Each and every time these outrageous, ridiculous, and often illegal credit repair claims never deliver what is promised. In the end, thousands of consumers lose their hard earned money to these unethical companies. It is very important to make sure that you are dealing with a reputable credit repair company. Simple common sense can save you money and hassles. Now lets discuss the many credit repair myths that exist today. To begin lets make one thing perfectly clear: there is no such thing as 7-day or 15-day credit repair. It does not exist. There are so many insane claims from companies claiming the ability to remove all negative information in a matter of just days. These are complete lies and you need to quickly run away when you see such advertisements and claims. Many fraudulent credit repair companies will refer to this as a credit sweep. They shouldn’t even be referred to as companies, as a quick search and some due diligence will show you that they do not even exist. Often, it is a fake company name with no record available to prove otherwise. They spring up overnight and operate collecting money for a short period of time and then disappear without a trace, only to reappear again as another fake company advertising the same ludicrous credit repair. Legitimate credit repair takes time. You will begin to see results in approximately 30-35 days. The law gives the credit bureaus 30 days to respond to any dispute. This information is something that will prevent you from being ripped off; just know that any credit repair company claiming they can get results in a matter of days is not one to trust. Another thing that is seen many times is the famous, “I have a connection on the inside” or, “My brothers best friends mother works for the credit bureaus.” These are just flat out lies. These are just techniques used to suck money out of you. They are banking on your believing these lies. No legitimate credit repair company is using “inside connections.” If you hear claims like this then please do yourself a favor, and walk away form that credit repair company. There is only one thing that will result from working with a company like that, and that is a loss of money from you and zero improvement when it comes to your credit. Save yourself the hassles and frustration, and make sure that you only deal with a legal and legitimate credit
repair company. Results do not happen overnight and there is not a magic wand to instantly make negative information go away. If it sounds too good to be true, then it usually is! Using common sense will help you to avoid becoming a victim. One of the more increasingly popular advertised methods is the so-called new credit profile. These are often referred to as a CPN (credit profile number), SCN (secondary credit number), or EIN (employer identification number). The way in which they advertise the use of these numbers is illegal and can land you in extreme trouble. These credit repair hack shops will tell you to use this new number to attempt to acquire new credit with. It will not work and you will find out you were ripped off, and also now liable for your use of the number. The FTC warns about this increasingly popular scam, and more information can be found on their website. Some companies even claim that they can obtain you a new social security number. Do not fall for any of these claims as they are false and if you do apply for new credit fraudulently it can come back to haunt you, as you can not use these number to try to obtain new credit. Conducting research while you are looking for a credit repair company is the best option. You will want to make sure that the credit repair company you hire only uses legal credit repair methods and gives you a realistic timeframe to obtain initial results and complete the job. One of the top credit repair companies is Credit Restore USA, located in Miami Beach, FL. They offer an excellent credit repair service that is both affordable and effective. Contact them today for a free no obligation consultation. With their credit repair service you will be on your way to improved credit.