[I17]I Dont Need A Man

Consumers pay enormous sums of money on credit repair to have a credit repair company improve their credit ratings and get high FICO scores. These credit repair services promise a quick credit fix to handle disputes and just about all the time, consumers find that their money has been completely wasted.

Keeping up with good credit can help you get better interest rates for cars or mortgage loans as well as better jobs. A bad credit history can leave you borrowing at ridiculous interest rates and bad terms that you'll find are hard to get out of.

The offers you hear may seem attractive at first but 'let the buyer beware'! There are legitimate credit-repair companies that exist, however, many of the claims you hear are usually false and illegal and just another way to make you part you with your money.

Before signing a contract with a credit repair service, be aware of your rights. Here are some reasons why you shouldn't commit:

1. Credit repair companies cannot charges upfront fees - do not obligate yourself by signing any contract with them. The federal Credit Repair Organizations Act was endorsed by our government to watch deceptive and abusive credit repair practices. This law makes it illegal for companies to charge consumers before performing any credit repair services. Therefore, it's against the law for these companies to seek payment from you until they have completed the actual credit repair services they promised.

2. If the credit repair company promises to dispute information in your file, on your behalf, including items you know are correct, then this gives you a red flag about the company's deceptive practices. If that credit repair company's plan is to lie, or dispute what you know to be accurate information then it's not a reputable company. Keep in mind; you can dispute any information in your credit file(s) that you wish to.

3. Before signing any contract, the credit repair company must provide you with a free copy of the FTC's "Consumer Credit File Rights." This is a federal law that this information must be provided to you. These guidelines will clearly outline what this credit repair service can and cannot do.

4. Some companies will tell you they will get you a new credit identity. This is done by applying for an Employer Identification Number (EIN) from the IRS. They will tell you to use this number in place of your Social Security number. Part of this is the truth. What they do not tell you is that EIN numbers are intended for businesses to use. And if you don't own a business, then this isn't a legitimate way to use that EIN number or to repair your personal credit history. Additionally, it's a federal crime to get an EIN under false pretenses.

Simply stated you can easily clean up your own credit report and repair your credit history all by yourself. Everything these credit repair companies promise you, you can legitimately do yourself. You don't need a credit repair service. Many of them you will find are unethical monetarily influenced by greed and just want to take your money and run.