The credit repair industry is known for scams, so consumers should beware for anyone looking to outsource their credit repair. Look for red flags of a scam.
Such as:
Selling tradelines
New identity using CPN
Asking for money upfront
Charges you outlandish fees like $1500+ for rapid results
Promising to remove accurate information from your credit report
You may find legitimate credit repair services that comply with CROA standards. But .
whether they are legitimate or not, no company can legally do any work for you that you couldn’t do yourself for free.
Consumer Beware ! ! ! !
Credit Repair Scams North Carolina FES Credit Repair Service - The issue here is that Credit repair companies have to be bonded. The MLM format for credit repair works around that regulation because the sales agents are NOT BONDED. The incentives in the MLM format cause some of the agents to be driven by greed and ambition to misleading to consumers. How do you know if you have a good agent or a bad agent when they are not being regulated?
3rd Party Credit Repair
If you want third-party help to address your credit issues, consider working with a nonprofit credit counseling service, which will likely provide more value than a credit repair company because they offer you education along with the credit repair.
Learn How to Attain and Maintain Good Credit
Filing disputes with the credit bureaus and exercising good credit habits are the best ways to repair your credit. There are all sorts of tools on the internet: Experian - Score Boost
Green Path - Debt recourses, housing resources, Education
Credit Score Simulators - Input your information and your target credit score, and the simulator will tell you what steps to take to achieve that score.
Credit Rent Boost - Have your rent reported on your Transunion and Equifax credit report.
Zoom Video Playback: How to boost your score almost immediately.
It is convenient to pay someone to do the work for you, but are they ethical? Will they keep your information safe? Are they giving you the right information?
As with fitness, you can pay a trainer to do the coaching, but you can't pay someone to do the exercises for you and expect results and a mindset change. same thing with money management and finance.