If you have bad credit and you want to make it better quickly with a low amount of effort then you might be consider a credit repair company. You're exactly like thousands of other Americans who also have bad credit; however, being desperate can leave you vulnerable to credit repair scams.
Credit repair organizations are governed by a law known as the Credit Repair Organizations Act. This federal law requires that credit repair organizations fulfill certain obligations. You should avoid any credit repair service that doesn't follow these rules of law.
You could be getting scammed if any of the following are true:
1. You aren't given a copy of the contract to view before you're asked to sign it. 2. You are not given a copy of the "Consumer Credit File Rights Under State and Federal Law" letting you know your rights to obtain a credit report and dispute credit report information. 3. You contract should contain the following and question it if it doens't: Amount you are being charged Date by which the services will be performed or the time period the service will last Name and address of the organization Details about the services being performed on your behalf Statement letting you know you can cancel the contract within 3 days 4. You're asked for payment before services have been performed. 5. The company asks you to create a new identity with a federal employer identification number or social security number. 6. The company promises to remove accurately reported information appearing on your credit report. 7. You are asked to sign a form waiving your rights under the CROA.
Keith Dienstl is a member of the Financial Empowerment Network Team and Prime Financial Credit Services
you can also visit Ultrafitcredit for more information on Keith Dienstl
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