Do Not Let Deceive You!

Credit Repair Scams

Erase Bad Debt

Remove Negative Items From Your Credit Reportт

You've probably seen these headlines and others just like it promising to clean up or fix bad credit. For someone who suffers from a bad or poor credit rating, these headlines are certainly an appealing offer.

Imagine finally being able to buy that new car, get debt collectors off your back, and enjoy a new found freedom from your past debts.

Sound to good to be true ? It probably is. Once you fall prey to the credit repair offer and pay the hefty fees involved to clean up your record, here's what happens:

1) The credit repair scam artist contacts the credit bureaus and reports that the negative information in your file is false.

2) The credit bureau removes this negative information from your report while they investigate the claim.

3) The scam artist will then show you the cleaned up version of your credit report and ta-da your credit history has been fixed !

But here's what the scammer doesn't tell or show you. After the credit bureau completes their investigation the negative information is placed back on your credit report.

Negative but accurate information cannot be removed from your credit profile. Only incorrect information can be removed.

Accurate information remains on your credit file for a period of 7 years from the time it is reported to the credit agencies; a bankruptcy appears for a 10 year period.

Many legitimate companies exist that can help you with your debt problems. But how do you spot a scam offer ? Easy, they'll ask you for their fees up front. By law, credit repair agencies cannot ask for payment until they've provided the service they promised.

Additionally many states require that a credit repair service, whether they are for-profit or not-for-profit, must provide you with a detailed written contract, an explanation of your legal rights, and the opportunity to cancel any signed contract within 3 days.

Also, be aware that a credit repair offerт could be an attempt to steal your identity by getting you to provide personal information such as a Social Security number, bank account and credit card account numbers.

Always make sure you know who you are dealing with before accepting any offer to help you repair your credit. Those who don't can have their credit ruined further and create more debt problems.

Credit Fraud

Credit Fraud Secrets Thieves Don't Want You To Know

Have you ever been a victim of credit card fraud? If so, you know just how traumatic it can be. What's more, if you don't detected it early enough, it could leave bad marks on your credit report that could haunt you for many years. The most commonly thought of credit card fraud is when your wallet or purse is stolen, and the thief uses your credit cards to make unauthorized purchases.

But, with the increasing rate of online buying, another form of credit card fraud, known as misappropriation, is spreading like wildfire. These days the only thing a thief needs to create havoc on your credit life is your credit card number not your actual card.

Here are just a few ways that this type of fraud can happen to you:

* One day your telephone rings, you answer and the person on the other end of the line tells you that they have a one time special offer, good for today only and that you simply need to provide them with your credit card number to make a purchase. STOP! Don't ever give out your credit card number to anyone who calls you. Only provide this kind of information if you have called the company to place an order, and you are positive that it is a well-established reputable business.

* You find that someone has gone through your trash. Then when you receive your credit card statement, you find that there are dozens of unauthorized charges. STOP! Always tear up your credit card receipts and bank statements before putting them in the trash. Better yet, buy a paper shredder from a local office supply. Many thieves go through unguarded trash bags specifically looking for your credit card staments.

* You go out to eat in a restaurant and pay the bill with your credit card. On your next credit card statement, you notice that there are unauthorized charges that started the same day as your restaurant meal. It turns out that the waiter made an extra imprint of your card when he rung up your bill, and then used the number to go shopping. The solution? Many restaurants have placed their credit card processing centers in plain view of the customer's sight to combat this problem. If not, you could follow the waiter to the charge station, and watch him throughout the process. It's also important to make sure that they know that they are being watched.

You may be wondering if there are other measures that you can take to make sure you aren't a victim of credit card fraud? Yes there is and here are a few suggestions.

* If possible, carry your credit cards and other bank information somewhere other than your wallet or purse. This way, if a thief nabs it, you will be out only your cash - not your credit cards.

* Another way is to only take the credit card that you intend to use that day and leave the others at home.

* Make a list of all your credit cards and keep it in a safe place, make sure to list the numbers and contact information of the issuing company. That way, if you do lose them, you will have the information necessary to contact the credit card company as soon as you notice the theft.

* Never sign a blank receipt, and always be sure to cross out blank lines. For example, if you bought something that didn't require a tip, cross out the tip line so nobody can add to it later.

* If you're making a purchase online, be sure that you do so via a secure site.

* If you move, report your new address to your credit card issuer immediately. Also fill out a change of address form at the post office. Sneaky thieves are on the look out for people moving, and then watch the mailbox of the old house, hoping that they can intercept a credit card statement.

Following the above suggestions doesn't guarantee you'll never be a victim of credit card fraud, but it will greatly reduce your chances.