Article : Kenneth Harney: Be wary of credit repair services

By Kenneth R. Harney
Washington Post

Article Launched: 06/08/2008 01:35:10 AM PDT

Picture this: You're eager to take advantage of today's troubled real estate market and buy a foreclosed house at a fire-sale price.

The problem is you don't have much money for a down payment. And your credit files are scuffed up with late payments.

What you need is a service that can help put it all together for you - linking you into lists of available foreclosures, credit repair, and even low-down-payment mortgage financing.

Companies that promise to do at least some of these things - especially to fix your credit - ply their wares aggressively on the Internet. But can they really do what they claim to? Based on a recent settlement by the Federal Trade Commission, the only conclusion is: If the deal involves paying money upfront, don't do it. ...

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Article : Credit Repair Services - 3 Things To Avoid With Credit Repair Companies

Submitted By: L. Sampson

If you're thinking about applying for a loan or a credit card in the future, you may want to check your credit report and credit score. And if you have a few black marks, there are credit repair companies that can help you boost your score and fix any negative marks. To make sure you choose a reputable credit repair company, watch out for these warning signs:

Quick fixes

"Your credit will be repaired in one week!" "It takes just three days to improve your credit score by 100 points!" Promises like this are just scam artists trying to get your business so they can take your money and run. In general, it'll take a legitimate credit repair company at least a month to make any changes to your credit report. That's because they usually have to contact the creditor and the credit reporting agency--and paperwork takes time. In fact, chances are you won't see a major difference in your credit score for about two or three months.

A New Identity

"We'll get you a new social security number." "Your old credit history will be erased." These types of scam artists plan to get you an Employee Identification Number (EIN). An EIN resembles a social security number, but it's used by businesses to report financial information. Applying for an EIN and using it as your personal social security number is illegal, but these scam credit repair companies will encourage you to do it to "wipe the slate clean." Be wary of anyone who says they'll get you a new identity or new social security number.

Big Fees

"We need a $50 deposit before we review your paperwork." "Our initial consultation fee is $100." Some scammers simply charge you money at the very beginning--before they even look at your paperwork--and then you never hear from them again. Never pay anyone a dime until they've at least reviewed your situation--credit history, current employment and income, etc.--and given you an estimate of your costs.

Although you do need to be wary of scammers when looking for a credit repair company, there are many reputable businesses that can help you fix your credit history. However, before choosing a company, make sure you check them out with the Better Business Bureau and any local or state associations.

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source : http://www.isnare.com/?aid=81484&ca=Finances

Article : How To Repair Your Credit Using Credit Repair Services - Save Hundreds of Dollars In The Process

Credit Repair Services are available to consumers that want to repair their own credit and eliminate high cost attorney or credit counseling services. If you have little money and more time you may want to consider using a credit repair service and repair your own credit.

Many people do not understand the American credit system. The credit system has "little credit secrets" that they do not want consumers to know about. If the credit bureaus do not intimidate you, then you might consider using a credit repair service to repair your credit.

• Credit repair services offer you an understanding of how the American credit system operates. They can show you step by step how to raise your credit score and eliminate debt if you are willing to take advantage of their services.
• By using these credit repair services you can improve your credit much faster and more efficiently without paying (up to) $795 for attorney fees. Utilizing these do it yourself credit repair services versus a credit counseling service also allows you to eliminate hundreds of dollars in monthly fees plus the start up fees they require.
• The problem is that the attorneys and credit counseling services don't want you to know about credit repair services; they want you to believe they are the only ones that can fix your credit.

The truth is you can repair your credit yourself. During my investigations of how to repair credit I discovered how to take advantage of these credit repair services that allow you to follow a simple step by step, at home program and repair your credit twice as fast as any attorney or credit counseling service while saving hundreds.

Credit repair services are for the average person that needs to repair their credit, it might be worth while to check into these credit repair services.

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source : http://ezinearticles.com/?How-To-Repair-Your-Credit-Using
-Credit-Repair-Services---Save-Hundreds-of-Dollars-In-The-Process-&id=541380

Article : What to Do If a Bill Collector Crosses the Line

Here's what to do if a bill collector uses abusive tactics.

It's stressful to be unable to pay your bills on time. It's even more stressful to hear from a bill collector about those overdue debts. Although bill collectors can be persistent (that's their job), many are careful to follow the law when contacting you. Unfortunately, some are not. If a bill collector oversteps the bounds of the law, you can take action...

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Article : Automatic Deductions: Watch Out for Pitfalls

Problems you may experience with authorizing an automatic deduction.

Automatic deductions (debits) from bank accounts can be a convenient way to pay some regular bills, saving you time, checks, and postage. Nowadays people pre-authorize monthly debits for everything from mortgages, student loans, and utilities to car payments, life insurance premiums, and health club memberships. But you can get into trouble if your automatic payment goes awry...

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Article : Which Debts Must You Repay?

All debts are not created equal. Learn which are most important.

Some debts are more important than others. If you are having trouble paying your bills, take the time to prioritize your debts. Make a list of essential and nonessential debts -- and always pay the essential debts first. Read on to learn which debts are essential and which aren't...

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Article : Avoiding credit repair scams

Cleaning up your history could get you into bigger trouble if you get taken in. Here's how to see through a con game.

By Gerri Willis, CNN

February 18 2008: 11:53 AM EST

NEW YORK (CNNMoney.com) -- Banks are tightening their purse strings, making it harder to qualify for loans. And now the Better Business Bureau is warning that some companies are using the credit crunch to take advantage of consumers who want to clean up their credit. Here are some top tips on avoiding these scams. ...read all...