Friday, November 7, 2008

Beware of Bad Credit Quick Fixes

What's the No. 1 way to tell that a credit-repair firm is not legitimate? It asks you to pay upfront for services that haven't been rendered, "Blunt Money" says.

Another tip-off, she writes: No matter what they claim, "no one can remove accurate negative information from anyone's credit report."

Unfortunately, many desperate people have responded to ads containing bogus claims, often paying hundreds or thousands of dollars to shady firms promising to improve their bad credit. As a result, the Federal Trade Commission and 22 states have launched a crackdown on unlawful practices, targeting 33 companies. Read the entire article.

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