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Choose a Reputable Credit Repair Company

By: Millete Almazan

Finance No one will be a victim unless they let themselves to be one. Nowadays, it is really hard to determine if the one that is talking to you now is trustworthy or not. You may not know but sometimes the one that you are trusting will be the one who will fool you. If that is the case, then it means that there is much more probability that those people that you barely know can do bad things to you. They are just waiting for the right time that you will be in need of something and they will offer help not knowing that it is their way to catch you. The same situation is true for those who are in need of correcting something in their credit report. If it has been a long time since you have looked at your credit report, you may be surprised to find errors, mistakes, or even a black mark or two. But worry not because there are Credit Repair Companies that can help you fix those mistakes and erase those black marks. However, it is a must that you watch out for those scammers out there and choose reputable Credit repair companies. Here are some points that you should remember when you are looking for a company that can correct those errors in your credit report.

An up-front fee is a red flag Beware of a Credit Repair Company that wants you to hand over a fee or payment before they meet with you. A credible company is easy to recognize. They will first talk to you, assess your credit report and discuss your current situation before asking for any type of payment for their services. Donít pay anything up-front because it is a sign or a warning that this company will probably take your money and run. And no matter what type of charges you may incur, be sure they aren't exorbitant. If a Credit Repair Company claims your case will cost thousands of dollars, look for another one. It will not cost that much when you wish to correct your credit history.

File segregation is a scam There are companies that will tell you they can do a thing like by "re-inventing" yourself with a new social security number so to wipe your credit slate. But that is definitely a wrong idea. In most cases, what they plan to do is get you a new credit report by applying for an Employee Identification Number (EIN)--used by businesses--which resembles a social security number, and you're told to use it as such. But this practice, known as "file segregation," is a scam, and it's also illegal! Avoid any Credit Repair Company that suggests this practice.

Look for a company that can advice you how to help yourself. A good Credit Repair Company will tell you what you can do yourself, such as writing letters to creditors and contacting the credit reporting bureaus about errors. This service of them is free. Avoid any Credit Repair Company that encourages you to do anything illegal or unethical--such as disputing a legitimate charge or fee on your credit report. Make sure you check with the Better Business Bureau before signing up with any kind of Credit Company. In this way you will be able to avoid scammers and rip-off artists. Better Business Bureau have records of any formal complaints against those companies that practice such cases of scams. Be aware and beware of those scams out there. Help yourself.

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