Liz Weston Advises on “Credit Repair”

Liz Weston Advises on “Credit Repair” Liz Weston is an excellent commentator on money and credit issues. On September 7, 2015, she answered a consumer’s question whether to hire someone for credit repair. She advises against hiring anyone to repair your credit: Liz Weston’s Answer: There’s so much fraud in the credit repair industry that you’re likely better off doing it yourself rather than exposing yourself to rip-offs. Credit repair companies aren’t supposed to take money upfront or promise things they can’t deliver, but many do. One of the scammers’ most common ploys is to flood the credit bureau with...

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Credit Repair Scams: How To Spot Them

Consumers with poor credit naturally want to clean up their credit reports. But as Michelle Singletary reported in her Washington Post column last week, there are credit repair scammers out there that are perfectly willing to take consumers’ hard-earned cash and then fail to do anything useful. Worse, some of their “methods” can be unethical or even unlawful. Consumers should look for these red flags in deciding whether a credit repair organization is legitimate. Beware of credit repair organizations that do any of the following: 1) The company requires an upfront fee. Under the federal Credit Repair Organizations Act, it...

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