The Federal Trade Commission has published a list of recent credit-fixing scams and fraudulent credit repair companies that are being pursued by the FTC for unlawful actions. Sadly, there are many more companies operating who have yet to be caught. In order to prevent being taken by credit rebuilding scams, Credit.com suggests that consumers take credit matters into their own hands instead of risking losing money and time with scams.
Reputable Ways to Clean Up Your Credit
- Contact the National Foundation for Credit Counseling (NFCC) to find a registered credit counseling member in your area. The NFCC is a non-profit organization that provides referrals to legitimate agencies.
- In Part One of this entry, we talked about contacting the credit bureaus (i.e. Equifax, TransUnion or Experian) to remove mistakes on your credit. This is your biggest tool in cleaning up your credit quickly. It's a good idea to also set up a fraud alert through your bank or another authorized agency that immediately spots Identity Theft on your records to prevent future dings to your wallet and your credit.
- If you've already filed for bankruptcy, the fastest way to rebuild your credit is to secure loans and credit in your name. Installment loans like auto loans and student loans are ideal, but revolving credit accounts such as credit cards or home equity lines of credit can also be very helpful in rebuilding credit.
Don't trust agencies that require upfront fees or tell you that you should not contact a credit reporting bureau on your own. These companies are likely scammers looking to take your money and access your credit report to manipulate your credit to their benefit and your detriment.
Truly, only a bankruptcy lawyer in Modesto can help you file bankruptcy and clean up your credit history through legal means. Other companies who offer to remove accurate records, such as late or missed payments, are often fraudulent and should be avoided at all costs.
