 |
|
The source of the best business, financial and legal news |
|
|
||||
|
||||
|
||||
|
|
|
|
|
 | |
| |
 |
Business Informations |
|
|
|
Dont Fall for Credit Repair Scams
We've all seen the ads on television or in magazines, shouting, "Erase bad debt!" or "Remove negative entries from your credit report!" If you're a person suffering from a less-than-stellar credit rating, those headlines may seem like the answer to a prayer. The only problems is, those programs don't work, and to add insult to injury, you'll find yourself paying hefty fees to those companies, only to end up right where you started, or worse. Sometimes, what is couched as a credit repair program may actually be an attempt to steal your identity by gaining information about your social security number, bank accounts, and credit cards. Here's how the credit repair scam generally works: First, the company will contact the various credit bureaus and tell them that the negative information contained in your files is false. Since they want to accurately reflect your credit information, the credit bureaus will temporarily remove the negative information while they investigate the claims. Meanwhile, the scammer sends you a copy of your credit file, showing that the negative information has been removed, claiming that your credit history has now been repaired. It will seem like a miracle, until you learn that as soon as the credit bureaus have completed their investigation, any accurate negative information will be returned to your credit report, and you'll be back where you started, minus the fees that you paid to the scammer. The key concept to remember when it comes to your credit report is that accurate entries will stay on that report for seven years from the time they're reported to the credit agencies. Bankruptcies stay on a report for fourteen years. There are many honest companies that can help you with debt problems. But how can you know if a company is legitimate? First, scammers will ask for their money up front, while legitimate credit repair companies can't require payment from their clients until they've performed the services they've promised. In many states, they must also give you a detailed written contract, clearly explaining your legal rights and giving you the option to cancel within three days. The bottom line: know who you're dealing with when it comes to trying to repair your credit. Mistakes can cost you dearly, doing even more damage to your credit, creating even more debt problems, and sometimes costing large amounts of money. Copyright © 2005 Jeanette J. Fisher - All Rights Reserved. Forget what you've been told about credit. "Credit Help!" author Professor Jeanette Fisher was forced into becoming a credit expert. She loves helping people buy houses. Get the credit you need to buy one house or twenty. Visit Real Estate Credit Help Center: http://www.recredithelp.com
MORE RESOURCES:
credit - Google News |
|
|
|
RELATED ARTICLES
Credit Card Entrapment - The Secrets are Out Have you ever wondered why your credit card bill is so high and you can't seem to pay off the balance? Well you are not alone in this. You should be aware of a couple of trick that they use and you probably don't even pay attention to it, but you definitely pay for it and BIG!The next time you open up your credit card statement, take a real close look to all the "junk" inside particularly the very hard to read insert Call "changes to you credit card agreement". Student Credit Cards 101 Almost all students have and use student credit cards. Some of the students use them wisely and build for them an early credit history but others accumulate lots of debts that would have to be paid off once the student life is over. When You Are Eligible For A Free Credit Report By Federal law, you are entitled to one free credit report per year directly from a credit-reporting agency only if you certify that:1. You are unemployed and seeking employment in the next 60 days. Figuring Out the Ever Nebulous Numbers Called Credit Scores Credit Score FactorsThe information contained on our credit reports affect every aspect of our lives; including employment, insurance, and even interest rates (mortgage, credit cards, automobiles, etc.). Addressing Bad Credit Card Debt Spending HabitsSo you've just got your credit card. The first thing you need to be wary about is that a credit card is very easy to use - afterall you can shop in stores, via catalogs and online with your credit card. Save Money and Lower your Payments by Improving or Repairing Your Credit Having a better credit score not only represents easier access to money from lending institutions, but more importantly represents instant money in your pocket.This probably sounds like something obvious for most of people, but it isn't until you start thinking in terms of real examples and real dollars that most of us start to understand the magnitude of the benefits associated with a good credit score. Why Is It important! Your credit is the most important thing you have other than your breathe. There are three types of people in this world. Different Ways to Borrow Money There are many different ways to borrow money. Outlined below is a useful guide to some of most common ways of borrowing money. Can You Acquire Good Credit Overnight? You Bet Your credit file may not reflect all your credit accounts. Although most national department store and all-purpose bank credit card accounts will be included in your file, not all creditors supply information to credit bureaus : Some travel, entertainment, gasoline card companies, local retailers, and credit unions are among those creditors that don't. Winning The Credit Game! Everywhere we go, the word credit can be found, shining huge dollar signs in front of our very eyes. Everyday we receive solicitation and promotions offering us credit. New Law Provides Free Annual Credit Report As of Thursday, December 1, 2004, one-third of Americans will be able to access their credit reports from all three main agencies for free. Passed in late 2003, the Fair & Accurate Credit Transactions Act creates a central source consumers can use to obtain a free annual credit report. Tips For Getting Your First Credit Card Most of us get a credit card on our name when we go to college or when we are in our senior years of high school and all of us stumble into the same types of difficulties when it comes to finding an issuer and managing the credit card. Most banks ask for a prior type of credit history that most of the time lacks and for some type of warranty that we will be good payers. A Cure for an Ailing Credit Credit has become a much-used word, thanks to the various connotations that it is being used in. Transactions in which the payment is deferred to the near future are termed as credit transactions. Choosing a Credit Counseling Company If you have considered credit counseling as an option to your financial problems, then you are probably wondering how to choose from one of the many credit counseling companies that are popping up left and right these days. There really is not an easy answer to this dilemma but there are some things that you can look for in a credit counseling company that might make the decision a little easier. What Are the Most Common Ways to Commit Identity Theft or Fraud? It's the number one source of consumer complaints at the Federal Trade Commission (FTC), and unfortunately, it's one of the simplest crimes to commit. Identity theft involves information from your daily life, from shopping, bill-paying, and even applying for a job. How to Deal with Hire Purchase Debt WHAT IS HIRE PURCHASE/CONDITIONAL SALE?Although people often talk about "buying on HP", Hire Purchase Agreements are quite unusual these days. Cars are the most usual goods sold under Hire Purchase or Conditional Sale Agreements. How To Get a Low Interest Credit Card Consumers often have the first credit card that they ever applied for, never really analizing how the interest rate affects their payments, but many other options exist and can help consumers decrease their payments and achieve financial stability.With interest rates on some credit cards rising to over 23%, even low balance credit card debt can be crippling. Avoiding College Credit Card Traps Congratulations college freshman! You're about to embark on one of the most exciting times of your life. By now your parents, siblings, and friends have offered you all kinds of advice on how to make your transition to college smoother - how to get along with your roommate, what classes to take and which ones to avoid, where to find the best off-campus food, and how to stay safe on campus. Why Does Your Credit Card Rate Keep Going Up? Have your read your credit card contract through completely? Do you know when it is okay for your creditor to raise your interest rates? If you are not sure about how and when your rates can be affected over the life of your contract you should take a few minutes to read your contract thoroughly from beginning to end.Creditors must have clauses in their contracts that give them the right to change your interest rates. Useful Tips on Using Credit Cards Here are some useful tips on using credit cards. Whether you shop online, by telephone or by mail, a credit card can make buying many things much easier; but when you use a credit card, it's important to keep track of your spending.
|
| home | site map |
| © 2006 |
|
|
|
|
|
|
||||
|
||||
|
