Don’t Get Caught in a Credit Repair Scam
Everyone wants a great credit score, but sometimes, those three little numbers need some help. That’s where credit repair companies come in. These services can help identify and dispute errors on a credit report as well as work with consumers to help boost their scores. Unfortunately, though, not all credit repair companies are legit. In a credit repair scam, a fraudulent credit repair company targets consumers who have bad credit. Let’s take a look at how these scams play out and how you can protect yourself from falling victim.
How these scams play out
There are several variations of the credit repair scam, and none of them end well. Here are the most common forms of this scam:
Look out for these red flags in credit repair companies to avoid getting scammed:
If you do want to enlist the services of a credit repair company, look for a company that does not exhibit any of the above behaviors. You’ll also want to look for a company with reputable accreditation and a detailed contract that shows a clear plan for how it will repair your credit and its payment structure.
It’s always a good idea to try increasing your credit score, but don’t let scammy credit repair companies make things worse! Use this guide to avoid falling victim to a credit repair scam.