Friday, June 02, 2006


People often ask me if there is really a way to clean their credit? The answer is simple and short: Yes!

You know there are several federal and local laws that make credit repair easier than before. among those are the Credit Repair Organization Act (CROA), Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), Fair Debt Collection Practices Act (FDCPA), The Bankruptcy Reform Act
One of the findings that the congress found that pushed them to pass the Credit Repair Organization Act, "that consumers have a vital interest in establishing and maintaining their credit worthiness and credit standing in order to obtain and use credit. As a result, consumers who have experienced credit problems may seek assistance form credit repair organization which offer to improve the credit standing of such consumers"
It is imperative to do your own search if you consider in repairing your credit and thinking of hiring and a credit repair organization to do the job for you. The Credit Repair Organization Act is vital weapon for consumers to use to fight credit repair schemes. A good reputable credit repair company should use federal laws in both ways--way to protect you as well as way to protect itself. Your credit report is prone to errors because information contained on it are being entered by people like us.

The Warning Signs
"If you decide to respond to a credit repair offer, look for these tell-tale signs of a scam:
companies that want you to pay for credit repair services before they provide any services.
companies that do not tell you your legal rights and what you can do for yourself for free.
companies that recommend that you not contact a credit reporting company directly.
companies that suggest that you try to invent a "new" credit identity — and then, a new credit report — by applying for an Employer Identification Number to use instead of your Social Security number.
companies that advise you to dispute all information in your credit report or take any action that seems illegal, like creating a new credit identity. If you follow illegal advice and commit fraud, you may be subject to prosecution."

This warning signs were taken straight from FTC(Federal Trade Commission) website. Anybody can go about repairing their credit but the result will vary based on knowledge and experience.
This blog is brought to you by --come back and read about how those warning signs can be very helpful.
Do you think that law firms provide a better alternative than credit repair agencies to perform professional credit restoration?
1--Yes--lawyers don't lie
2--No--Lawyers get paid to lie

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