Search:

An article on Credit and related topics

For additional information and special deals related to some of the items on this article, place your cursor over the double-underlined links. All information supplied by Kontera.com

Credit Repair Services – Reasons Why Not To Sign

By: Lara Sawyer

Repairing your credit by means of a credit repair service seems to have become very fashionable. It has had extensive publicity, both positive and negative, and people have decided to give it a shot. It has worked for many, but not for all. I usually receive many daily mails requesting information on this repair services, and customers more often than not request my own personal opinion and experience with them. As I had already written an article on the advantages these special services have, I decided to write another one on the downsides they carry. Nothing is perfect, now you will be able to see the two sides of the same coin.

Reason #1: False Promises

I have heard it over and over. People fall for this scam every day. How does it work? Well, you contact an agency which seems very reputable and professional, they offer great services and, as you need to have your credit fixed no matter what, you might subconsciously believe almost anything you hear. The person in charge of the repair service lets you know your credit history will be as good as new in only a matter of weeks and you become really excited. He claims he is able to wipe out all negative information from your credit report. And you buy it, of course. But that is just the biggest lie ever. Negative inputs, if accurate, cannot be erased. Never. Only inaccurate negative information will be disputable. Please keep this in mind, do not let enthusiasm cloud your mind.

Also, creating a new credit identity is something which cannot be performed. Not only because it is not possible but also because it is illegal. Beware of companies claiming they can do this because you could get in serious trouble by trying it.

Reason #2: Up-Front Charges

You must be very familiar with this rule, but I will mention it anyway. It is very common for people in need of a fast solution to their bad credit problem to do anything they can for help. Even if it means paying up-front fees to dubiously honest people. Remember that it is against the law for a financial company to charge any sort of fee before providing their services. You should never be charged for the right to apply for anything, that is just downright illegal.

Reason #3: Does Not Inform You Of Your Rights

The company must (as stated in the law) inform you of your legal rights before you sign any contracts. What is more, you can ask for a free copy of the FTC’s “Consumer Credit File Rights Under State And Federal Law”. If you request this file, they can by no means refuse to provide you with it.

I do not really have a formed opinion on this financial product as of yet, they both have benefits and drawbacks as everything in this world, and each consumer should weigh those pros and cons in order to find out whether this product is actually the way to go. But I believe in hard work, and I know for sure that there is way for one to fix his own credit without having to resort to third parties. If it can be done for free and by yourself, why should you pay? I will leave that up to you to decide.

Article Source: http://ezine-articles-planet.com

Lara Sawyer is a professional loan advisor who helps people to secure Small Unsecured Loans and Instant Unsecured Loans. Visit www.fastguaranteedloans.com/

Please Rate this Article

Not yet Rated

Click the XML Icon Above to Receive Credit Articles Via RSS!

Additional Articles From - Home | Finance | Credit

How to Get a Free Instant Credit Report? - By : Bill5 Bill5
The 10 Credit Secrets Banks Don’t Want You To Know - By : Tom Mack
Compare applyonline.citicards.com Credit Cards to get the best CitiCards offers - By : Clint Jhonson
Solve Cash Flow Problems With Secured Lines Of Credit - By : Devora Witts
How to Determine Your Credit Rating - By : Michael D. Strauss
Steps To Take To Rebuild Your Credit Status - By : Martin Sumner
Why People Prefer To Use Credit Cards? - By : Steve91 Depraida91
Bad Credit And The Term Issue - By : Amanda Hash
Credit Repair Companies and their Integrity - By : Ricardo2 Mendiola2
You must pay off your credit card debt - By : qxmax

Authors, Sign Up for a free account or learn more.

	Print This Article
	Post Comment
	Add To Favorites
	Email to Friends
	Ezine Ready

Writers/Authors Submission Guidelines
Member Login
Submit Articles
Most Popular Articles

Publishers Article RSS Feeds
Terms of Service

Advertise Now

Share This Page:

Site Information Link to Us
About Us
Site Blog
Contact Us
Privacy Policy
Multi Site Article Search
Links Directory

Sponsors from all over the web

Would you like your site listed here?

Is This Site Useful?
If you found this site useful, please consider buy the webmaster coffee and get a free link back to your site!

Thanks for your support!

Site Stats

Please Rate and Vote For Us: