Credit Repair: Self-Help May Be Best (published by the
FTC)
You see the advertisements in newspapers, on TV, and
on the Internet. You hear them on the radio. You get
fliers in the mail. You may even get calls from
telemarketers offering credit repair services. They
all make the same claims:
-
"Credit problems? No problem!"
-
"We can erase your bad credit-100% guaranteed."
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"Create a new credit identity-legally."
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"We can remove bankruptcies, judgments, liens, and
bad loans from your credit file forever!"
Do
yourself a favor and save some money, too. Don't
believe these statements. Only time, a conscious
effort, and a personal debt repayment plan will
improve your credit report.
This brochure explains how you can improve your credit
worthiness and lists legitimate resources for low or
no-cost help.
The Scam
Everyday, companies nationwide appeal to consumers
with poor credit histories. They promise, for a fee,
to clean up your credit report so you can get a car
loan, a home mortgage, insurance, or even a job. The
truth is, they can't deliver. After you pay them
hundreds or thousands of dollars in up-front fees,
these companies do nothing to improve your credit
report; many simply vanish with your money.
Do it yourself!
Get a free credit
report and then visit ftc.gov for more info. |
