Credit Repair Scams That You Must Avoid

Credit repair is one of the nation's fastest-growing industries, and no wonder! The victims of predatory lending, the purveyors of bankrupt businesses and the casualties of the recent real estate foreclosures have created a built-in market  that requires immediate assistance. And while some of these companies are legitimate and helpful, there are far too many credit repair scams to count, and you must avoid them at all costs.

"Guaranteed Results!"

Credit repair is largely a guess-and-check system that can be manipulated by professionals, but it is not a business where results can be guaranteed. In fact, Congress declared several years ago that it is unlawful for credit repair services to guarantee specific results.

If you are targeted by a company that promises a certain outcome from their efforts, know that it is probably a credit repair scam. They are breaking serious federal statutes, and they are also lying---it is patently impossible to predict the outcome of credit repair efforts.

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