|Credit repair can take time... especially if you have poor
credit and don't really have the time that you need to repair
it. Unfortunately, many criminals and con artists know that
credit repair is much needed and often time consuming and see
this as an opportunity to make dishonest money by offering
people what they want but that the con artist isn't able to
offer. Even more unfortunate is the fact that large amounts of
money are scammed in this manner each year, almost always from
the people who are most severely in debt and can afford it the
If you worry that you might fall victim to one of these credit
repair scams, then the information below might help to give you
a better idea of what to look out for so that you don't end up
losing money that you can't afford to lose.
The Appeal of Something for Nothing The reason that credit
repair scams are so numerous is that people love the idea of
being able to get something that they want with minimal
investment of either time or money on their part. Desperation
can add to this, especially in the case of someone who is
severely in debt and it seems as though the only option that
they have left is bankruptcy.
Credit repair scammers generally offer a "quick fix" to an
individual's credit, and the price usually isn't that bad...
unfortunately, the service (if any) that they provide is illegal
and by the time that a consumer finds that part out the scammer
Avoiding "Instant" Credit Repair One of the biggest scams of
this kind is that of "instant" credit repair, in which the
scammer replaces an individual's tax ID number with a new one in
order for the individual to be able to establish new lines of
credit without the burden of years of bad credit causing a
denial. This can be especially troublesome for the individual,
since in most cases the scammer is operating within the law to
create the new tax ID number which is actually a business tax
ID. When the individual uses the new number, though, they are
actually breaking the law and committing fraud... something that
they often don't discover until it's too late and they're facing
legal problems. In order to avoid these scams, just remember
that anyone who offers instant results is just trying to take
your money. All credit repair takes at least some time.
Other Consequences of Credit Repair Scams In addition to losing
your money to credit repair scams, it's possible to face legal
charges, heavy fines, and possibly even jail time if you use
falsified tax ID information or get involved in certain types of
scams. If you are found to be a scam victim, the charges will
often be dropped... but not always. Then, of course, there is
the fact that you are still in debt and have even less money
with which to repay what you owe; credit repair scams can often
push people seriously in debt over the edge into bankruptcy.
Credit Repair Without the Scam
In order to repair your credit without getting scammed, check
into consumer credit repair or other certified credit repair
services. Check references and make inquiries with local police
and consumer groups to make sure that they are legitimate, and
follow their suggestions to help you to attain a debt-free life
without the worry of credit scams. It may take longer this way,
but it will be worth it in the end.
You may freely reprint this article provided the following
author's biography (including the live URL link) remains intact:
About the author:
John Mussi is the founder of Direct Online Loans who help
homeowners find the best available loans via the www.directonlineloans.
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