title:Avoiding Credit Repair Scams author:John Mussi source_url:http://www.articlecity.com/articles/business_and_finance/article_5716.shtml date_saved:2007-07-25 12:30:07 category:business_and_finance article:

Credit repair can take time? especially if you have poor credit and don’t really have the time that you need to repair it. Unfortunately, many criminals and con artists know that credit repair is much needed and often time consuming and see this as an opportunity to make dishonest money by offering people what they want but that the con artist isn’t able to offer. Even more unfortunate is the fact that large amounts of money are scammed in this manner each year, almost always from the people who are most severely in debt and can afford it the least.
If you worry that you might fall victim to one of these credit repair scams, then the information below might help to give you a better idea of what to look out for so that you don’t end up losing money that you can’t afford to lose.
The Appeal of Something for Nothing
The reason that credit repair scams are so numerous is that people love the idea of being able to get something that they want with minimal investment of either time or money on their part. Desperation can add to this, especially in the case of someone who is severely in debt and it seems as though the only option that they have left is bankruptcy.
Credit repair scammers generally offer a ?quick fix? to an individual’s credit, and the price usually isn’t that bad? unfortunately, the service (if any) that they provide is illegal and by the time that a consumer finds that part out the scammer is gone.
Avoiding ?Instant? Credit Repair
One of the biggest scams of this kind is that of ?instant? credit repair, in which the scammer replaces an individual’s tax ID number with a new one in order for the individual to be able to establish new lines of credit without the burden of years of bad credit causing a denial. This can be especially troublesome for the individual, since in most cases the scammer is operating within the law to create the new tax ID number which is actually a business tax ID. When the individual uses the new number, though, they are actually breaking the law and committing fraud? something that they often don’t discover until it’s too late and they’re facing legal problems. In order to avoid these scams, just remember that anyone who offers instant results is just trying to take your money. All credit repair takes at least some time.
Other Consequences of Credit Repair Scams
In addition to losing your money to credit repair scams, it’s possible to face legal charges, heavy fines, and possibly even jail time if you use falsified tax ID information or get involved in certain types of scams. If you are found to be a scam victim, the charges will often be dropped? but not always. Then, of course, there is the fact that you are still in debt and have even less money with which to repay what you owe; credit repair scams can often push people seriously in debt over the edge into bankruptcy.
Credit Repair Without the Scam
In order to repair your credit without getting scammed, check into consumer credit repair or other certified credit repair services. Check references and make inquiries with local police and consumer groups to make sure that they are legitimate, and follow their suggestions to help you to attain a debt-free life without the worry of credit scams. It may take longer this way, but it will be worth it in the end.

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