How to: Credit Repair Information

Credit repair has become a necessary part of today's life as more and more people fall victim to bad credit. Credit repair takes time, however, and should never be viewed as a "quick fix" for your credit. Credit repair is a million dollar industry with a lot of scams. If you decide to respond to a credit repair offer, look for these tell-tale signs of a scam: companies that want you to pay for credit repair services before they provide any services.

The Complete Credit Repair Kit (+CD-ROM) (Complete Credit Repair Kit) by Brette McWhorter Sember This easy-to-use guide explains how to clean up your credit report, lessen your debt and cope with your financial woes. It teach you how to get back on track.

Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the services they have promised. For example, a credit repair company cannot: make false claims about their services charge you until they have completed the promised services perform any services until they have your signature on a written contract and have completed a three-day waiting period. Many states have laws regulating credit repair companies. If you’ve had a problem with a credit repair company, don’t be embarrassed to report it.

Don't pay money upfront for credit repair services. It's against the law for a company to require payment before the promised credit repair services have actually been performed. If the services are offered through an interstate phone call, the federal Telemarketing Sales Rule says that the company cannot ask for payment until it has provided you with proof of the promised results by giving you with a copy of your credit report that has been issued by a credit bureau more than six months after the corrections were made.

Depending on your time, patience, perseverance, and complexity of your case, you can successfully dispute inaccurate credit report items on your own. However, credit bureau’s strategies and tactics make the process often time-consuming, overly-burdensome and ineffective for the consumer.

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