Beware of credit repair scams.


Beware of credit repair scams.

There are many credit repair companies that are essentially scams. They take your money and they do not improve your credit or they only temporarily improve it. The Federal Trade Commission (FTC) offers this advice for avoiding credit repair scams:

  • Do not work with a company that wants you to pay for credit repair services before they have provided services
  • Don’t work with a company that won’t tell you your legal rights or explain what you can do on your own
  • Don’t work with any credit repair company that tells you not to contact a credit reporting company directly
  • Avoid a company that suggests disputing all of the information on your credit report, whether or not it is accurate
  • You cannot legally create a new “credit identity”; if you follow illegal advice and commit fraud, you may be charged with a crime

 

Written by Hoglund Law

The attorneys of Hoglund law are licensed in Minnesota, Wisconsin and Ohio. Hoglund, Chwialkowski & Mrozik, PLLC is based in Roseville, Minnesota. In addition to handling cases involving bankruptcy & social security, Hoglund, Chwialkowski & Mrozik, PLLC handles faulty drugs and toxic exposure.

View all author posts →

Legal Blog Expert