Credit Repair

Although there are legitimate online credit repair companies, there are also a lot of fraudsters and scammers on the web. Just because some website owners claim to be experts in their field, doesn’t necessarily mean they are. But, if you take these tips and use your common sense, then choosing an online credit repair service need not be so scary.

You get online credit repair adverts everywhere online – especially through your email box. Unless you specifically asked an online credit repair service to email you information, all other e-mails are spam. They are either advertising fraudulent companies or are run by conmen trying to trick you into sending them your personal information to be used for identity theft.

Never click on any links in any spam email.

Never download any attachments or PDF files included with a spam. And when you delete a spam email, delete it from your “delete” file just to be sure there isn’t any spyware to sneak onto your hard drive.

That’s A Scam, Folks

The Federal Trade Commission has listed many helpful tips on sorting the wheat from the chaff in online credit repair services. If any of the ads promise the following, they are scams:

• “We can repair anyone’s credit history” (Impossible!)
• “We can remove all traces of bankruptcy, liens and defaulting on loan payments from your credit history permanently.” (Illegal!)
• “We can give you a new credit identity.” (Incredibly illegal!)
• “We need you to pay before we do any work for you.” (Also illegal in America.)

Run like you have never run before!

Legitimate credit repair services that often offer online counseling or meetings are interested in helping you for the long term, not just for short term fixes. They will (or should) push you to take money management courses and credit repair counseling. These courses are low cost. You should never have to pay more than $100. Be sure they are government approved. Any credit service, whether online credit repair or not, has to let you know up front what services you can do for free and what need fees. They also should never ask you to falsify any information or buy extra services like life insurance.