Need Better Credit? WARNING! 3 Credit Repair Claims That SHOULD Make You Run!
Who else is struggling with a sub par credit score? Are you sick and tired of being turned down, rejected and embarrassed to apply for just about anything? I've been there...
and understand the pain and humiliation of having bad credit.
As a matter of fact, in some ways, a low FICO score can literally leave you feeling like a second class citizen, even if you've done nothing wrong OTHER than having hit hard times.
Here is the truth: People with bad credit PAY more.
And for just about everything.
But the psychological cost of bad credit can be FAR more painful than the financial.
It sounds silly...
but many people TRULY suffer in silence.
With that in mind, many of us who have experienced the pain of a low credit score are VULNERABLE.
And being vulnerable, opens you up to being victimized by folks who do NOT have your best interests at heart.
Let's take a closer look at 3 credit repair claims that should make you RUN (and in the other direction as well!).
1 - File Segregation Offers: This is illegal - period.
You may not get put in prison for it, but you could.
And while some credit clinics, or experts will tell you that's it's your constitutional right...
be very afraid of these sorts of arguments.
They make sound good on the phone, or in a local bar during a political debate, but they rarely work as a genuine defense for trying to misrepresent your identity.
(which is really what file segregation is meant to do) 2 - Overnight Credit "Sweeps" This doesn't work...
and is highly suspect.
It is a process that no one really can explain, and yet it's offered and advertised everywhere.
If you think about it, this suggests that someone can hack into your credit file and REMOVE everything bad using software.
I still haven't heard a good explanation of how this is done, or possible, or legal if it even could be...
yet, you see expensive offers and promises everywhere to make it happen, and in a hurry! (stay away) 3 - NO promise or guarantee, when it comes to credit repair is legal It's the law.
The CROA prohibits promises or guarantees when selling credit restoration services.
You can promise to WORK hard, to refund money if the work isn't done to your satisfaction and all sorts of stuff like that...
but any credit repair company that GUARANTEES a certain level of improvement is actually breaking the law! (no joke)
and understand the pain and humiliation of having bad credit.
As a matter of fact, in some ways, a low FICO score can literally leave you feeling like a second class citizen, even if you've done nothing wrong OTHER than having hit hard times.
Here is the truth: People with bad credit PAY more.
And for just about everything.
But the psychological cost of bad credit can be FAR more painful than the financial.
It sounds silly...
but many people TRULY suffer in silence.
With that in mind, many of us who have experienced the pain of a low credit score are VULNERABLE.
And being vulnerable, opens you up to being victimized by folks who do NOT have your best interests at heart.
Let's take a closer look at 3 credit repair claims that should make you RUN (and in the other direction as well!).
1 - File Segregation Offers: This is illegal - period.
You may not get put in prison for it, but you could.
And while some credit clinics, or experts will tell you that's it's your constitutional right...
be very afraid of these sorts of arguments.
They make sound good on the phone, or in a local bar during a political debate, but they rarely work as a genuine defense for trying to misrepresent your identity.
(which is really what file segregation is meant to do) 2 - Overnight Credit "Sweeps" This doesn't work...
and is highly suspect.
It is a process that no one really can explain, and yet it's offered and advertised everywhere.
If you think about it, this suggests that someone can hack into your credit file and REMOVE everything bad using software.
I still haven't heard a good explanation of how this is done, or possible, or legal if it even could be...
yet, you see expensive offers and promises everywhere to make it happen, and in a hurry! (stay away) 3 - NO promise or guarantee, when it comes to credit repair is legal It's the law.
The CROA prohibits promises or guarantees when selling credit restoration services.
You can promise to WORK hard, to refund money if the work isn't done to your satisfaction and all sorts of stuff like that...
but any credit repair company that GUARANTEES a certain level of improvement is actually breaking the law! (no joke)
Source...