If you are looking to improve or even maintain your credit score, I am sure you must have looked at ways to get your credit report. There are many companies out there that charges you crazy money, after offering misleading free credit reports, so beware of those scam companies.
How to find best credit report program is a difficult one to answer. It helps to avoid those companies that make all sort of wild promises which couldn’t possibly be true. If it appears too good to be true it probably is.
There have been so many misleading claims on TV and the internet recently that the Federal Trade Commission is becoming quite concerned that vulnerable people are falling for these scams. You can improve your credit report but it will take time and effort and definitely won’t happen overnight.
Before you get involved with any company make sure they provide you with a written contract which details any guarantees the company may offer, the anticipated time scale to achieve the desired result, confirmation of the total cost of the services they are providing and the name and address of the company.
So how do you recognize a credit repair scam? If they seem reluctant to provide the above information then they are not a company to get involved with. If the company offers to do something illegal you know it is best to avoid them. So what is illegal? Nobody can remove accurate negative information from your file despite the damage it has caused. If it is true it must remain on file. If it is not true, you have the right to have it removed but this doesn’t cost a fortune and is actually very simple to do yourself.
There is an Act called the Credit Repair Organizations Act that all of these type of programs have to abide by. Probably one of the most important rules is that they cannot make you pay for services until they have actually completed them. So if any company insists on payments in advance, please do not waste your money.
An ethical company will explain to you exactly what they can do and what you can do yourself for free. They will not tell you to dispute all the information on your file regardless of whether it is accurate or not. And they certainly won’t advise you to try and scam the system by applying for credit under a number other than your social security number.
Don’t fall for anybody who tries to tell you that timescales always apply. They don’t. Sure in most cases, negative information must be removed from your file after 7 years have lapsed or the statute of limitations if shorter. But there are always exceptions to this rule. For example if you apply for a job on a salary in excess of $75k or apply for a specific amount of life or credit insurance cover.
If you haven’t managed to find the best credit report program and believe that you have fallen for one of these scams, your state law enforcement officials can help. Don’t be shy, you need all the cash you can get to repay your debts and you can’t afford to fall victim to anyone.
