Feds allege celebrity credit repair a scam
News from U-T San Diego:
Best Ways To Repair Your Credit Score
News from Investopedia:
You’ve probably seen ads telling you, “We can erase your bad credit – 100% guaranteed.” Or possibly ones that promise they can: “Create a new credit identity – legally.” Any company that promises a quick fix like this for your credit score is a scam. “Attorneys at the Federal Trade Commission, the nation’s consumer protection agency say they’ve never seen a legitimate credit repair operation making those claims,” says the FTC website.
Repairing your credit if your score has fallen “takes time and there is no quick way to fix a credit score….The best advice for rebuilding credit is to manage it responsibly over time.” That’s the advice you’ll find on FICO’s website. Believe it.
FICO stands for Fair Isaac Corporation. This American corporation introduced the first general purpose FICO score in 1989. Since then, consumers have depended on keeping a good FICO score to be able to get loans and credit cards – especially if they want low rates and generous terms.
Now that it’s clear there’s no quick fix to improve anyone’s credit score, let’s review the steps for repairing your score the slow and legal way.
STEP 1 – Understand How Your Credit Score Is Determined
You need to unde…………… continues on Investopedia