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  Category: Articles » Finance » Credit » Article

Beware of Scams When Repairing Your Credit

By Cornie Herring

If you are in bad credit situation and are anxious in looking for a solution to rebuild your credit, then you may be tempted to answer an advertisement from a company who can promise you that they can give you an entirely new credit identity; all your bad records will be wiped off and you will have clean credit record.

You can see this type of credit repair ads almost everywhere whether or not they are true, sometimes hard to be differentiated. But, you need to aware the true of repairing your bad credit, there are no shortcuts for building an AAA credit rating. It will take time and a lot of efforts from your part to successfully rebuild your credit.

Meanwhile, your must be caution about the credit repair scams who are looking for their prospects like you to fall into their trap. Don't let you be their victim. If you are looking for a credit repair services, you must take your time to search for a reputable credit repair company. Beware of a few signs of credit repair's scams describe below:

1. Promise To Erase Your Bad Credit History Quick & Effectively

These companies will promise and even guaranteed your that your bad credit history will be erased in short period of time and your will have totally clean credit records. They normally charge high fee and need you to pay upfront fee.

2. Offer To Get You A New Identity

There are companies who will offer you a new identify. What they do is to get you apply for a tax identification number, which has the same amount of digits as your social security number, and then use it whenever applying for credit. Your record will shows clean with the new tax identification number and you application of credit can be approved.

Beware, you action may send you to jail. Lying to the federal government about your intended uses for a federal ID number is a federal offense. You need to bare the responsibility of law offensive when you get caught.

3. Offer Will Expired Today

Theses scams will pressure their prospect to sign up their plan by today because this special offer will expired tomorrow. They may use other similar tactics to urge you to put your signature into their contract. The contract will stated all the outrageous promises and of course, in return you will ask to pay for high upfront fee.

An honest & reputable credit repairing company will let you know you that your credit cannot be rebuilt overnight and they will never pressure you or trick you to sign a contract with them. In addition, they will make it clear to you, that if you do change your mind within three days of signing, you can cancel it without any obligation.

In Summary

In actually fact, nobody can repair your credit except yourself. A reputable credit repairing company will be able to guide you to achieve you goal. The only way to successfully regain your good credit is thru you own efforts such as pay your bills on time, not extend your credit limits, and be careful not to apply for too many credit lines. Do all of these things on your own and you will soon find yourself with a great credit report!

About the Author
Cornie Herring is the Author from "StudyKiosk-Credit Basics" is an informational website on credit basics, debt solutions, debt consolidation and bankruptcy.

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