3 Crucial Steps Toward Credit Repair
News from Motley Fool:
If your credit is bad, or not as good as you would like, there is no time like the present to get things moving on the right path. After all, your credit report and score are fluid, meaning that they simply indicate how strong your creditworthiness is now. What they look like in the future is up to you.
There are some credit repair steps you can take now, and with a little effort, you could begin to notice your credit improve very soon.
Know where you stand
You can’t really start fixing your credit unless you know what’s wrong. Fortunately, by law, you are entitled to a copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) absolutely free of charge once a year.
You can request your reports at this website set up by the credit bureaus. Be aware that most places advertising a “free credit report” are not part of this program, and will require you to sign up for a credit monitoring service. The actual annual credit report site will not ask for your credit card information or any monetary commitment whatsoever.
Once you have obtained your credit reports, go through them and highlight any negative entries…………… continues on Motley Fool
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Feds call for shutdown of bogus debt relief and credit repair scheme
News from ConsumerAffairs:
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The Federal Trade Commission (FTC) wants a federal court to drop the hammer on a debt relief scam that claims to have the endorsement of President Obama .
According to the FTC, two websites promoting what is called the “Bill Payment Government Assistance Program,” are full of misrepresentations about the fake program.
The sites claim the program was governed by the Recovery Accountability and Transparency Board, a government agency formed to oversee projects funded by the American Recovery and Reinvestment Act of 2009.
In addition, YouTube videos created by the scam’s operators included a purported personal endorsement from the president with an audio recording of him saying, “I approve this message.”
Cleaning up your credit
The FTC’s complaint alleges that the defendants purported to offer up to $ 75,000 in debt relief to consumers, along with promises that consumers’ credit scores would “increase within 30 days.”
Consumers contacting the scammers, according to the complaint, were told that in exchange for an advance “service charge” of $ 900 to $ 1,100, the defendants would pay off the consumers’ debts.
According to the complaint, scammers would ask consumers for details of their outstanding debt, including account numbers, and then arrange bogus electronic pa…………… continues on ConsumerAffairs
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