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Credit Repair Kit Sound To Good To Be True? It Is.
A lot of people have bad credit. It is unfortunate that good
people with good intentions are sometimes lured into credit card
offers with outrageous interest rates or convinced to buy a new,
overpriced car that they cannot afford. Sometimes, it is a stroke
of bad luck. You may have recently lost your job or been involved
in an accident that made you unable to work which in turn also
made you unable to pay your bills. Whatever the case bad credit
can follow you for a very long time and repairing your credit is
no easy task. You may have seen advertisements claiming to be
able to repair your credit for only a small fee. Some advertise
credit repair kits for anywhere from $10.00-$20.00. This may seem
like a small price to pay to have your good credit reinstated.
But beware, the price is often much higher. Jail time or high
fines are the price you must be willing to pay since these scams
are illegal.
Credit repair kits claim to be able to repair your credit
through a process called "file segregation". This is a fancy term
for obtaining an employment identification number or EIN.
Employment identification numbers can be used to apply for credit
instead of your social security number. The problem is that you
must use false information to apply for this number. This is
illegal and you can be charged with not only misrepresenting your
social security number, but if you used the telephone or mail to
apply for the credit you could be charged with telephone or mail
fraud.
Keep in mind that you should never have to pay money for a
service before it is received and you have the right to see all
paperwork regarding the case. So ask for all agreements in
writing and carefully examine the documents to be sure that you
are not participating in something that is illegal. If you are
still thinking of using a credit repair service, contact the
state Attorney General and the Better Business Bureau to
determine if the company is legitimate. If you have previously
purchased a credit repair kit or been a victim of a credit repair
scam, you should also contact the state Attorney General to
report the crime. The best way to repair you credit is through
time and effort. You can do it, but nothing is going to fix your
credit instantly.
Timothy Gorman is a successful Webmaster and publisher of
Debt-Relief-Solutions.com. He provides more debt relief,
consolidation and free
credit repair information that you can research in your
pajamas on his website.
MORE RESOURCES:
Credit - Google News
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