Five Credit Repair Scams To Avoid
Photo by The Shopping Sherpa
Cleaning up your credit report can take a lot of time, perseverance and creativity.
So what about all of those credit repair businesses out there, promising to clean up your credit report for a fee? Is it worth it? Or should you do it yourself?
It’s important to keep an eye out for companies that contact you with hard sell tactics, outrageous promises and huge fees.
Avoid Credit Repair Scams
An article on MSN Money describes five such “popular approaches for making consumers part with their money with the promise of a better credit rating.” Link to the full story here.
The story also provides a great list of questions to ask before signing up with a credit repair counselor:
- Who is proposing the plan?
space- Has this entity had problems before?
space- How are they paid, how much and when?
space- What’s the downside of this plan?
space- Did you contact them or did they contact you?
space- What’s the reason for not doing this yourself?
space
Clean Up Your Credit Report Yourself
Why would you give hundreds of dollars or over a thousand to someone else to clean up your credit when you can do it yourself? As the article points out,
“Thinking of paying someone else to clean up your credit file? Anything they can do, you can do better. And cheaper. But it takes time and dedication.”
If you’ve got the time and dedication, and are ready to get started, Regis Sauger’s e-book “Get Out Of Credit Prison” contains more than 40 strategies for how to legally fix your credit and take your life back.
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