You see the advertisements in papers, on television, and on the Web. You hear them on the radio. You get fliers in the post. You can even get calls from telemarketers offering credit fixing services. They all make the same claims:
“Credit issues? No problem!”
“We can wipe out your bad credit-100% guaranteed.”
“Create a new credit identity-legally.”
“We can remove bankruptcies, judgments, liens, and bad loans from your credit record forever!”
Do yourself a favour and save some money, too. Don't believe these statements. They're just not true. Only time, a conscientious effort, and a plan for repaying your debt will enhance your credit score.
The Danger Signals
If you need to make a decision to respond to an offer to fix your credit, think carefully. Don’t conduct business with any company that:
* wants you to pay for credit fixing services before any services are provided
* does not tell you your legal rights and what you can do yourself — for free
* advises that you not contact a buyer reporting company directly
* implies that you attempt to invent a “new” credit report by trying for an Employer Identification Number to use rather than your SSID Number
* advises you to dispute all information in your credit score or take any action that seems illegal, for example creating a new credit identity. If you follow illegal advice and commit fraud, you may be subject to prosecution.
You could be charged and prosecuted for mail or wire crime if you use the post or telefone to apply for credit and supply false info. It's a federal crime to make false statements on a loan or credit application, to misrepresent your SSID Number, and to get an Employer Identification Number from the I. R. S under false pretenses.
Swindle artists are out in full force with all of the subprime mortgages and credit card debt. They like to live on the feeble and needy. Use caution.
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