{"id":177,"date":"2013-10-29T13:01:23","date_gmt":"2013-10-29T18:01:23","guid":{"rendered":"https:\/\/www.moneysharpnextstep.org\/?page_id=177"},"modified":"2015-08-25T12:12:34","modified_gmt":"2015-08-25T17:12:34","slug":"avoid-credit-repair-scams","status":"publish","type":"page","link":"https:\/\/www.moneysharpnextstep.org\/?page_id=177","title":{"rendered":"Avoid Credit Repair Scams"},"content":{"rendered":"

Beware of credit repair services which promise to remove negative information from your credit report<\/strong>
\nNo one can legally remove negative information from a credit report that is accurate.\u00a0 This information must remain on your report for a set amount of years; most information stays on your report for up to seven years, while bankruptcy information can remain for ten years.\u00a0\u00a0 You can remove credit report errors by following certain steps (1)<\/a> yourself for FREE.<\/p>\n

Beware of credit repair services that request fees in advance<\/strong>
\nA legitimate company will not demand payment before the service is provided.\u00a0 Money Sharp does not charge you in advance.\u00a0 Remember that improving your credit can be done, it just takes time.<\/p>\n

Beware of credit repair services that don\u2019t disclose your rights as a consumer<\/strong>
\nConsumers have the right to attempt credit repair on their own.\u00a0 Money Sharp offers affordable counseling services to those clients who prefer counseling professionals to help them protect their bankruptcy discharge.\u00a0 Click here for information about The Fair Debt Collection Practices Act<\/a>, The Fair Credit Reporting Act<\/a> and the Illinois Consumer Fraud Protection Act<\/a>.<\/p>\n

Beware of credit repair firms that advocate \u201cnew\u201d identities<\/strong>
\nIt is illegal to create a \u201cnew\u201d identity by applying for an employer identification number to replace one\u2019s Social Security Number.\u00a0 File segregation is a serious crime which could result in imprisonment and fines.\u00a0 You should report this kind of fraud to the Federal Trade Commission (FTC)<\/a> immediately.<\/p>\n

Beware if the credit repair firm asks you to sign blank forms and provide personal information so the company can act on your behalf with your credit problems<\/strong>
\nNever sign blank paperwork. Never give out personal information without knowing the reason and with whom you are dealing.
\n<\/a>
\n(1)<\/strong> Checking your credit report every year can help you prevent identity theft.\u00a0 You’re entitled to one free credit report each year from each of the nationwide consumer credit reporting companies (Equifax<\/a>, Experian<\/a>, Transunion<\/a>).
\nIf you find errors on the report, you can have them removed so they won’t affect your credit score.\u00a0 Follow the five easy steps below to correct credit report errors.<\/p>\n

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  1. Make a copy of your credit report and highlight every item you believe is incorrect.<\/li>\n
  2. Write a letter to the credit reporting agency (e.g., Equifax<\/a>, Experian<\/a>, Transunion<\/a>) about the information you believe is wrong and include copies of supporting documents as proof.<\/li>\n<\/ol>\n