When a person is bombarded with credit issues of his or her account that can be too much to handle and therefore causing them to despair and run to find solutions and thus falling into the various credit repair frauds. You can have hard credit inquiry in Albuquerque, New Mexico.
The main fraud in this credit repair field is the common add you find in a website page or a blog with the words new credit identity where this companies promise you to hide your bad credit history claiming it is legal, this is a complete fraud. Any person in a hurry to find credit solution will run to click the add and fall into the trap, these companies involved in this scam may be illegally selling social children security numbers and will not offer you the credit you applied for. Using numbers of other people results to a crime of identity theft that can lead to legal trouble.
Indicators of Credit Repair Scams
There are a number of signs one can note which can help you notice these credit repair frauds, these indicators include:
Insisting on first pay then service. If a credit repair company or organization asks, you to first pay them even before completing the work that can be a red light. Never pay for a service that has not been completed and have satisfied your goals. Most time these companies want you to pay and thereafter run with your money.
Advising you not to contact the credit companies directly. A person who tells you not to contact the credit comp[any directly is not an employee of the said company. this is a sign that he or she is fearing being exposed by the company which can lead to him or her being arrested. Never trust such a person.
Advises you to present false information. If a credit repair personnel or a company advises you to lie in your credit report is a fraud and a criminal. A professional credit repair personnel does not falsify information but finds the problems and the cracks it has. Never falsify information because it can lead to being sued.
Does not educate you on your rights. If you contact a credit repair and the company or personnel do not state to you the rights you enjoy, in most cases is a fraud. He or she may not even know anything about credit repair or the law. You do not want to give your problems to a person who does not even know their job.
Advises you to reject accurate information. If a person claiming to represent you on credit repair advises on you, disputing accurate information is a criminal. This can land you to troubles with the law in case the lender can substantiate his or her claim, because you can easily loose a case on credit because of these.