Credit Repair Scams
Have you heard this pitch? “Do you have problems with your Credit? Bad credit? No Credit?” Followed by a promise to fix your credit for an advance fee? The truth is, no one can legally remove accurate and timely negative information from a credit report. The law does allow you to request a reinvestigation of information in your file that you feel is inaccurate or incomplete. Anything a credit repair clinic can do for you legally, you can actually do yourself for free or at little cost. BBB warns you to be on the lookout for these red flags that would indicate a credit repair firm is less than credible.
- They Don’t tell you your legal rights and what you can do for free
- They Recommend that you DON”T contact a credit bureau directly
- They Ask for an upfront fee
- They Advise you to take actions that seem illegal or unethical
Be sure to check out any credit repair firm with your BBB first.