bad credit report repair
 When is a credit score repair service offer a scam?
Sharane Gott explains bad credit report repair scams
By the end of 2007, Americans owed more than $915
billion in credit card debt, and the credit crunch is clearly impacting
consumers as lenders are becoming more choosey about who gets loans and who
doesn't.
Given stricter loan and credit requirements, Better Business Bureau is
warning that some companies are using the credit crunch to take advantage of
consumers by promising bogus credit repair services that can be costly and in
some cases illegal.
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My
credit group is truly one of the
industry leaders in the credit repair and consulting industry. We’re nearly a
decade old and maintain a spotless BBB Track Record. We’re FCRA Certified and
were nominated for The Best Customer Service Award by the Chamber of Commerce.
We work with the Nation’s largest
lenders such as; Washington Mutual, Chase Manhattan, Wells Fargo and the
Department of Defense.
With My Credit Group Inc.
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By Sharane Gott Better Business Bureau
found at theadvertiser.com
Complaints to BBB about credit repair companies have risen for three straight
years, topping more than 1,400 in 2006 - a 38 percent increase since 2004. More
than 400 of those complaints were not resolved, meaning BBB was not able to
track down the company or the company refused to take steps to resolve the issue
with the consumer.
With the economy slowing and lenders becoming increasingly picky, many people
are looking for fast, easy ways to fix or even erase damage to their credit
history. Consumers need to be very careful when searching for or using a credit
repair agency. In some cases consumers are being charged for work they could
have done on their own for free, and in the worst case scenarios, consumers are
unwittingly encouraged to engage in illegal activities, without their knowledge.
Consumer Reports notes that Americans find nearly 13 million inaccuracies on
their credit reports each year. With millions of inaccuracies in credit reports,
BBB encourages all consumers to check their reports. Everyone is entitled to a
free copy of their report from all three credit reporting bureaus every year or
if they have been denied credit within the last 30 days (go to: www.AnnualCreditReport.com).
Almost everyone these days knows of someone that has access to the Internet; it
is important that you check credit report.
The law does allow an individual to request reinvestigation of information in
their file that they feel is inaccurate or incomplete, and there is no charge
for this process. BBB is reminding people that everything a credit repair
company can do for them legally, people can do for themselves at little or no
cost.
Companies must also provide a written contract that spells out the consumer's
rights and obligations. BBB advises anyone using a credit repair service to read
these documents carefully before signing anything. BBB also suggests consumers
beware of companies that:
Do not tell you your legal rights and what you can do - legally - for free;
 | Recommend that you not contact a credit bureau directly;
| Want you to pay for credit repair services before any services are
provided;
| Advise you to dispute all information in your credit report;
| Take any action that seems illegal, such as creating a new credit identity
by obtaining a federal employer identification number to use instead of a
social security number;
| Offer to let you "piggyback" on another consumer's good credit.
Before contacting a credit repair service, consumers can check them out
first with BBB by easily accessing BBB Reliability Reports free of charge at
www.bbb.org.
For consumers with serious credit problems, Consumer Credit Counseling
Services are available for a low fee or, in some cases, for free. Some of
the services provided may include working out a payment plan with lenders,
as well as guidance and advice to help consumers make more financially sound
decisions in the future. To find the nearest CCCS office, call toll-free,
800-388-2227, or go to www.nfcc.org.
Sharane Gott, president of the Better Business Bureau of Acadiana, may
be reached at 981-3497 or contact the BBB on its Web site: www.acadiana .bbb.org
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We encourage you to visit our site
at my
credit group and have a
look around. We want you to know, and understand us before you make this
important decision.
“While some companies offering credit repair services strive to get as big
as they can, as fast as they can, My Credit Group’s focus is on being as
helpful as they can. To My Credit Group, ethics and education should always come
before profits. They believe the customers deserve the piece of mind knowing you
can turn to them for honest, safe and substantial results and are continually
recognized for outstanding performance as a credit company, market leadership,
and their strict code of ethics.
The company is registered with the Secretary of State & the Attorney
General; and after almost a decade of helping consumer’s with their credit,
they still maintain a flawless track record with the Better Business Bureau!
My Credit Group is Fair Credit Reporting Act Certified, Nominated for San
Diego’s Best Customer Service Company, and was the only civilian credit repair
company to be utilized by the Department of Defense.”
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Business Foreclosure
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“There’s so much inventory out there that the buyer can pick and choose,” said Susan Sirles Fidler, a Realtor at Re/Max 10, Oak Lawn. But she cautioned, “The stuff that’s almost free is almost free because it’s going to cost you an arm and a leg to put it back together. It’s not buyer beware as much as buyer be smart.”
