Bad Credit Repair – Beware One Exploding, Dangerous Credit Repair SCAM!

Jan 01

Bad Credit Repair – Beware One Exploding, Dangerous Credit Repair SCAM!

Bad credit repair scams pollute the Internet, luring desperate people to open their wallets to scammers promising guaranteed A+ credit.

Beware Dangerous Credit Repair Scam Guaranteeing To Remove ALL Derogatory Credit Information!

PLEASE close your wallet and listen carefully: Credit repair guarantees to remove any or ALL bad credit from your credit reports are illegal, impossible and dangerous!

Regardless, these guarantees, scams & scammers pollute the Internet. Truth is, scammers KNOW desperate people buy on emotion, not logic. They KNOW desperate people turn off their brains & whip out their wallets, stepping forward to buy pleasure or remove pain.

Credit (dis)repair snake-oil pitch people sell the dream, stealing desperate people’s money – CAUSING legitimate derogatory disputes to be flagged as frivolous or (worse) uninformed consumers to be sued!

Yes, you can be sued when a credit (dis)repair company blindly fires off template dispute letters challenging legitimately reported derogatory credit information.

Click Read More below now for a dangerous and very common credit repair pitch broadcast on a big email list I follow.

DANGEROUS CREDIT DISREPAIR TRAP

Yesterday, I reached a boiling point. On an email list I follow, I cringed at one of these outrageous (illegal) claims for guaranteed credit repair.

This was NOT just a guarantee or your money back. This is flat-out wrong:

“I’m partnered with a law firm that guarantees permanent removals of all derogatories, loans, and credit lines…short sales, foreclosures, bk [bankruptcy], derogatories, late payments, loan defaults, collections, any bank loan—current or in default, judgments, negative trade lines, helocs [home equity line of credit].” (emphasis added)

Ignore Absurd Credit Repair Guarantees!

No – I repeat, NO – person or company (including any “law firm”) can guarantee permanent removal of any derogatory credit information!

In fact, one particular BIG credit (dis)repair company calling itself a “law firm” generates more complaints from people contacting me than any other person or company. Once again, desperate people think a law firm will fix their credit.

Not so in this case, especially NOT for $250.00 upfront & $99.00 /month.

As it is, creditors (called Furnishers) have a legal right to report legitimate bad credit information. If challenged, Furnishers MUST (by law) validate (with consumer) and verify (with credit reporting agencies).

If you see a credit repair offer, here’s how to tell if the company behind it is up to no good:

• The company wants you to pay for credit repair services before they provide any services. Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the services they have promised. • The company doesn’t tell you your rights and what you can do for yourself for free. • The company tells you they can get rid of most or all the negative credit information in your credit report, even if that information is accurate and current. • The company advises you to dispute all the information in your credit report, regardless of its accuracy or timeliness.

Bad Credit repair expert Mike Payne helps people improve their credit and grab the keys to their new homes at Bad Credit Repair — Repair Credit Fast. Mike’s step-by-step, do-it-yourself credit improvement blueprint teaches people HOW to improve their own credit legally, effectively & finally. No dangerous gimmicks that will get you sued. Leave me a comment or question below.

Disclaimer: Credit Advocate Mike Payne is not an attorney and is not dispensing legal advice. This information is to be used for educational purposes only. If you are contacted by a debt collector, please refer to your legal rights under Fair Debt Collection Practices Act and strongly consider consulting with an attorney who specializing in FDCPA.

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