September 19, 2017
 
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Credit Repair Scams -The Art of Denial

Credit repair companies try to hook potential customers with promises of a better credit rating. For those who need help in this area, the offer can be very tempting despite the big fees. These companies have many different tricks up their sleeves, all designed to separate you from your money. One such tactic they may offer is to clean up your credit report by convincing the creditors that the debts aren’t really yours.

Never Underestimate the Power of Denial
Credit repair scammers will bombard your creditors with letters, requests, and demands, stating that the debt isn’t really owed. This process is supposed to make the creditor drop the debt. Frankly, this line of thinking is similar to people who complain that the Internal Revenue Service is operating illegally. While there may be some occasions when consumers have legitimate cases regarding invalid debt, there are more effective and proper ways of dealing with it in order to remove it from your credit report.

What you should know
Realistically, if your credit report is accurate, there is nothing you can do to remove anything from it. No one has a magic wand to make negative information go away. Credit repair “experts” know this, but they want your money so they’ll tell you it’s possible. If there are genuine errors and inaccuracies, you can fix them yourself, free of charge. Examples of errors include misspellings, wrong addresses, debts that have been on your report beyond the allowable time, or credit accounts that really aren’t yours. Consumers also have the right to add an explanation to their credit reports if something wasn’t paid because of a legitimate dispute. Paying money to a credit repair company is too risky—they’ve been known to take the money and run.

 

 

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