When we’re in credit repair, we’re at our most vulnerable when it comes to borrowing money, renting a car, a home or seeking new employment. We’re often thinking about money, and sometimes even desperately looking for it, or for some way out in fact. Surely, all these credit repair help companies are making it seem like it’s easy to get out, but is it really? Not so much, and there’s often a price associated with it. When dealing with credit repair, it’s essential that you be able to look for the best offers out there in terms of help. There are scams out there that were especially conceived to trick you, the credit 2nd class citizen, so you have to be careful. Fortunately, there are some laws in place, mainly one name the Credit Repair Organizations Act that obligates these organizations to provide a decent service. But still, before you get caught by a bad advertisement or deal with bad service of bait-n-switch, check for these few signs that you could be dealing with a scam artist.
Look for Missing Items
First off, when you receive any contract, you should be able to see in full. If you see any dodging on that issue, it could mean that the organization is not trustworthy. A lot of the times, it's not a big red sign saying “scam” that will be the signal of course, but something missing in the offer that you're presented that will give away that you could indeed be dealing with a scam. For instance, if you don't see the basic information of the company dealing with you such as the address, it can be fishy. Another example would be the company omitting some information like the money you will have to pay, the time frame of the process or the absence of a clause allowing you to opt out, usually three days.
Scams can have plenty of different tricks up their sleeves. A faulty credit repair organization could ask you to pay before even providing anything, and if the relation starts off this way this certainly – run! Then, as in anything, if you're being promised something that's out of this world, be on your guard. Credit repair does have some proven tips and tricks to expedite the process – but for the rookie it isn't supposed to be a walk in the park and if the credit repair organization is even promising you to remove some negative entries that are legit in your credit report, it could be the sign that you should go elsewhere - now.
Seeking Credit Repair Help is Not an Obligation
And remember, the companies offering credit repair services don't have magical power. They just have more experience than you in the field and that is the key you can benefit from, as long as you choose the right organization. A credit report dispute or negotiation with some creditors could certainly be done by yourself.
And to conclude, if reading of these tips weren't enough or if you have already been scammed, report the whole thing to your state attorney general. The Better Business Bureau and Federal Trade Commission can be two other organizations to remember and contact if you're in need. As we've outlined in this article, be careful and always look for missing items in the contract you're signing. Every item missing should make you want to head for the door. And remember – a contract isn't good until you’ve signed it (as well as the other party) and it's not because you're being handed the pen that you're forced to sign anything – or do anything.