Credit Repair Scams To Watch Out For

September 3, 2009 by  
Filed under Credit

With the increase in people wishing to repair there credit, and an increase in companies offering such a service, there too is an increase in the amount of people trolling to rip them off. With these con artists at large, operating in an unethical manner but seemingly genuine, it is easy to get scammed. Following are some scams to avoid and advice on how you can go about repairing your credit by yourself.

Many scam merchants, if not most, will be working online as many legitimate companies do. However, the scams are usually different in the way they operate and the most common form is the email. You may find emails in your inbox (surpassing the junk box) from companies offering to repair your credit, Not only do they have your email address but they may even know your full name.

Now and again, they may be legitimate companies, but more often than not, this unsolicited communication is part of a scam and should be avoided at all costs. Even if the company is not a scam, these methods of communication do not stand well for the company in question who rely on sending these types of emails to everyone in the hope of a bite.

Another one to watch out for is if you have received an email from an agency that you have had business with in the past. However, you notice that the company sign or traditional colors are different in the email than on the website. This may also be a scam posing as the genuine company. In this instance always get in touch with the company in question to find out if the emails are, in fact genuine. They will also want to know that they are being fraudulently imitated and to alert others of this.

Repairing your own credit is simply the best way to prevent being ripped off by credit repair scam companies. You can do this by keeping track of your spending. List all of your necessity bills for household essentials and food etc. Work out exactly how much your essential monthly outgoings are and set up a separate account for this payment. The rest of your available cash can be distributed on other non essential items and if possible a small proportion for a savings account.

It is always possible to cut back a little on treats and luxuries that are not absolutely necessary. It is only a temporary cut-back and keeping that in mind should give you the encouragement to keep at it. A high credit score is worth forgoing a few pleasures and will get you back on track for stress free finances.