Credit Repair Firms Prey on the Desperate

Certified Credit Counselor Offering Solutions to Your Credit and Debt Concerns"

Consumers are vulnerable to a variety of credit repair scams that promise a solution, especially if you have a shaky credit history. These scams often appear as an apparition of hope just when life has delivered you with financial difficulties that send your credit rating plummeting.  Don't be fooled. These companies are predators looking to suck you in, because they want to profit off your misfortune, rather than help you.

The truth is that there is no fast solution to get poor credit to miraculously become excellent overnight. Negative Information stays on your credit report for up to seven years. On the up-side, positive information stays on your credit report for up to ten years. Once you have a black mark, it's unfortunate how the lending industry holds you accountable for seven years, but it is a fact of life in modern society. In this article, I'm going to expose and dissect a few of the most popular types of scams.

The first type of scam I am going to address is credit repair firms. I always advise clients to avoid credit repair companies like the plague. These companies will promise to raise your credit score in a short period of time to help you secure a good rate on a mortgage or car loan. They will charge you hundreds, sometimes thousands of dollars to provide you with their services. In reality, credit repair firms steal your hard earned money and dig you deeper in debt.

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