People’s Mortgage Company: Don’t Be A Victim of Credit Repair Scams

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By: Veronica Castellanos 

The newspapers, television and internet are full of companies claiming to have the ability to erase your credit problems. It’s important to understand that there is no quick fix. Improving your credit legitimately takes time and effort. 

I want to make sure you recognize credit repair schemes before you become a victim.

Be suspicious of the following offers:

The company wants you to pay for services before they are provided to you. Under the Credit Repair Organization Act, companies cannot request payment until they have completed the services as promised.

The company recommends that you do not contact any of the three major national credit reporting companies directly.

The company tells you they can remove most or all of the negative information on your credit report, even if the information is accurate.

The company suggests you try to invent a “new” credit identity by applying for an Employer Identification Number rather than using your social security number.

The company advises you to dispute all the information in your credit report, regardless of its accuracy.

The Federal Trade Commission works to prevent fraudulent and unfair business practices in the marketplace. To file a complaint or get more information, visit www.ftc.gov or contact them at 1-877-382-4357. 

If you have any additional questions or if your financial situation has changed, please contact me at www.veronicashomeloans.com