Avoid False Promises of Credit Repair Companies

Avoid False Promises

It is probably not true if it sounds untrue initially. Credit repair always proves the rule of thumb to be true. On most occasions the promises made by credit repair companies towards reducing your debt burden turn entirely false. Prior to repairing your credit, you might need to do one or more of the following things:

Obtain a new identity

A few of the companies might try to persuade you to create a different identity; they would try to establish that by creating a new identity you’ll be able to remove all of your bad credit history. You must know that it is not possible for you to create a duplicate identity; you’ll move against the law if you try to obtain a new social security number in your name.

Submitting wrong information

Stay away from options like submitting wrongful information regarding your purchases; a good company should only ask you to improve your bad history. Some companies would ask you to do it so that your information can be disputed and a few bad histories can be rectified to reflect a better look of your credit report. Remember, in doing so you’ll actually be committing fraud although it might sound good.

Paying for your credit report

Under a few conditions, you might be able to obtain a credit report without bearing any charges towards your credit repair company. Once your credit card application gets denied, it will take you some 60 days to obtain your credit report for free. While checking your report if your eyes meet with a mistake, then you may get it disputed with the information provider and the credit reporting agency.

No bad history on your credit report can actually be removed by any agency or individual. You may rectify any wrong information that you come across in your report without any charge; credit repair companies know the process better and can help speed up the process. At the same time, you’ll need to beware of companies that request you to pay a stipulated amount for working on your behalf and then vanish into the thin air without resolving your issue.