Complaints about credit repair companies are rising, and with good reason. There are many scam Credit repair companies creditors out there that claim to be able to get you out of debt without actually helping you accomplish anything, and because they’re so easy to find online it can be hard to tell who’s legitimate and who isn’t. If you’re looking into hiring a credit repair company, here are a few signs that the company might be a scammer.
What To Look For
There are a few things you can look for that may help you spot a scammer masquerading as a legitimate credit repair company. First, be wary of companies that guarantee they can remove all negative information from your credit report. Second, beware of companies that require you to pay for services before they provide them. Third, be wary of companies that try to get you to sign up for new lines of credit or services that you don’t need.
The 3 Red Flags in a Credit Repair Company
When you’re looking for help with your credit, it’s important to know how to spot a scammer. Here are three red flags to watch out for, in credit repair companies creditors that are scammers:
- They make promises they can’t keep.
- They ask for money up front in order to guarantee results.
- They use aggressive and deceptive tactics, like threatening collections or lawsuits if you don’t pay on time or call the police if they can’t reach you when they say they will.