While credit repair may take a long period of time and a lot of frustrations, having a reliable and experienced credit repair company or agency can be a faster, more efficient way to start your journey. So, how do you choose a good credit repair company?
Take a Look at their Ads
Ok, you might be thinking, most credit repair ads are same anyway and contain the same, repeating information, so how does that help you choose a good company then? Well, the news is these usual credit repair ads contain things that you should be wary of. Any company that claims they can â€śerase bad creditâ€ť or â€śboos your credit score in just one weekâ€ť are mostly the companies youâ€™d want to stay away from.
Consumers are advised not to believe these ads and instead go for companies who really talk to their clients, take the time to explain the process of credit repair, and not make any big promises in the shortest time possible. Credit repair is a long process and nobody and no company can really make your debt â€śdisappearâ€ť. There are no â€śquick fixesâ€ť when it comes to credit repair and the company you choose should have the competent staff or agent who will work with you throughout the process.
Beware of Companies Who Want You to Pay Upfront Fees
Besides staying away from ads that promise you a lot of stuff happening in the next one week or so, another tell tale sign that you are choosing an unscrupulous company is when it asks you immediately to pay for their services even before they begin any processing of your documents. Usually, they would ask you to pay the full amount of their services without providing any yet.
In the Credit Repair Organizations Act, you will see that credit repair companies are not allowed to ask for your payment unless they have completed the services they offered to you. This is one of your basic rights as a client, so stay away from companies who tell you otherwise.
Beware of Companies that Suggest Deceiving the System
If the credit company you are talking to is trying to push or convince you in applying for a new Employer Identification Number instead of using your Social Security number so you could â€śinventâ€ť a new identity and a clear credit report, then that is deceit and its better to stay away from these companies.
Article Source: https://www.bharatbhasha.com
Article Url: https://www.bharatbhasha.com/finance-and-business.php/446757
Article Added on Thursday, April 24, 2014
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