Understanding important facts while considering a company to repair bad credit

Posted on Feb 8, 2010 01:03:37 PM

When availing the services to repair bad credit, it is important for you to assess the reliability and capability of the credit repair company you are planning to hire. There are a few facts which must know to avoid any credit repair scam.

Few important facts about Credit repair:

Nobody, except you, can request for the copy of your credit report. According to credit repair law, any credit repair company can ask for a fee only after it has rendered its services to you.  You are not liable to pay any fee before receipt of credit repair services. Credit repair laws also give right to have free credit repair evaluation from credit repair companies.

It is against laws to provide any false information on any credit repair and loan application. If you use telephone or email for providing fake information, it is taken as the fraud. It is illegal to request for the Employer Identification Number from IRS by pausing someone else is counted as illegal act. Also, misrepresenting your social security number amounts to a crime.

According to The Credit Repair Organizations Act, making false claims about credit repair is a crime. Any company you are contacting for credit repair should inform you about your legal rights in the written contract.

Knowing all these facts will help you avoid any scam.