1) if you have a credit score of 677, you are in the same boat as 70% of all Americans. If your credit score rose just 30 points, your family can save, on average, $421 every month or $5,052 every year on house payments, car payments, credits cards, loans, etc.
2) Many people often wonder if credit repair really works, and the short answer is , "Yes, definitely." The U.S. Public Interest Research Group released a report in June 2004 saying that 79% of the consumer credit reports surveyed contained some kind of error or mistake. Even today, million of erroneous items have been removed from credit reports, and tens of thousands get deleted daily, including collections, late payments, bankruptcies, and foreclosures.
3) Most people have never heard of The Fair Credit Reporting Act that guarantees the credit repair process to you, the customer. To avoid being scammed demand the credit repair company to comply with The Fair Credit Reporting Act.
4) Also, the credit repair organizations must give you a copy of the "Consumer Credit File Rights Under State and Federal Law" before you sign a contract. Unless they give you a written contract that spells out your rights and obligations, assume you are being scammed.
5) Read all documents, and before signing anything, know that a credit repair company cannot:
* Mislead you with false claims about their services
* Take your money unless they have finished the promised services (Not half way; but completely)
* Perform any services, and even after your signature is on a written contract, they must complete a three-day waiting period
You have the power and right to cancel the contract without paying any fees during this three-day waiting period.
Before you mark your name on the contract, make sure it specifies:
* The total cost and the payment terms for services
* A description of the services down to the itty-bitty details the company will be performing
* The total length of time to achieve the result (Otherwise, they can keep charging you for more than you intended)
* Any guarantees the company offer
* Company name and address
2) Many people often wonder if credit repair really works, and the short answer is , "Yes, definitely." The U.S. Public Interest Research Group released a report in June 2004 saying that 79% of the consumer credit reports surveyed contained some kind of error or mistake. Even today, million of erroneous items have been removed from credit reports, and tens of thousands get deleted daily, including collections, late payments, bankruptcies, and foreclosures.
3) Most people have never heard of The Fair Credit Reporting Act that guarantees the credit repair process to you, the customer. To avoid being scammed demand the credit repair company to comply with The Fair Credit Reporting Act.
4) Also, the credit repair organizations must give you a copy of the "Consumer Credit File Rights Under State and Federal Law" before you sign a contract. Unless they give you a written contract that spells out your rights and obligations, assume you are being scammed.
5) Read all documents, and before signing anything, know that a credit repair company cannot:
* Mislead you with false claims about their services
* Take your money unless they have finished the promised services (Not half way; but completely)
* Perform any services, and even after your signature is on a written contract, they must complete a three-day waiting period
You have the power and right to cancel the contract without paying any fees during this three-day waiting period.
Before you mark your name on the contract, make sure it specifies:
* The total cost and the payment terms for services
* A description of the services down to the itty-bitty details the company will be performing
* The total length of time to achieve the result (Otherwise, they can keep charging you for more than you intended)
* Any guarantees the company offer
* Company name and address
About the Author:
About The Author: David Wada, who has been repairing credit in Northern California for thirty years, has written a very practical guide to de-mystify Credit Repair Companies. For a limited period, you can access a free copy by visiting his Credit Repair Companies
0 comments:
Post a Comment