Tag Archive for Spot

3 On Your Side: How To Spot A Credit Repair Scam

3 On Your Side: How To Spot A Credit Repair Scam
News from CBS Local:

By Jim Donovan

PHILADELPHIA (CBS) — Now that the economy is starting to improve, many Americans are hoping to clean up their finances, pay down debt and improve a credit score.  But 3 On Your Side Consumer Reporter Jim Donovan warns, you better do your homework first!

From buying a car to buying a home, your past financial decisions are all laid out for lenders to see in a credit report.

With many aspects of the American economy on the upswing, many consumers are seeking to clean up their credit history and some scammers see that as an opportunity.

According to the Federal Trade Commission, there are a few easy ways to spot a credit repair scam:

First, if the company asks for payment before they render any services.

Also, if they ask you not contact the credit reporting agencies directly.

And, if they suggest giving false information when applying for a mortgage or a loan.

Another troubling trend among credit repair scammers, is the promise of an entirely new credit identity, which can unwittingly land a consumer in trouble with the law.

Consumers can spot these when a credit repair service suggests abandoning a Social Security number as a primary source of identification, and instead using a new number they assign and call a “CPN”  for “credit privacy number,” or “credit profile number.”

In…………… continues on CBS Local

… Read the full article
.


Related News:


Top 4 Ways to Spot a Credit Repair Scam

Top 4 Ways to Spot a Credit Repair Scam
News from The Cheat Sheet:

Source: Thinkstock

If your credit card debt has been spiraling out of control, you might be thinking about paying a professional to help you repair the damage.  You’re most likely feeling the pressure and would do anything in your power to relieve the discomfort. You might even be getting sick over it. In fact, the American Psychological Association’s 2015 Stress in America survey finds that financial strain can have a big impact on your health.

Although you may feel distressed, don’t let your delicate emotional state lead you into the arms of a scammer. This will make you a prime t…………… continues on The Cheat Sheet

… Read the full article
.


Related News:

Free credit program offered in Raritan by Central Jersey Housing Resource Center
News from NJ.com:

The Central Jersey Housing Resource Center (CJHRC) offers a free program for those that are trying to establish or re-establish credit, have been denied recently for credit or want to better understand debt and special savings program.

This class will take place on Wednesday, April 8, 5-9 p.m. in the downstairs conference room at CJHRC, 600 First Ave., Raritan 08869.

This workshop has been revamped and will be much more interactive with participants walking away with important information they want and need. While in the past the topic of “Understanding Your Finances” focused on budgeting and tracking of expenses, now in addition participants will each receive a calculator and a bill-paying organizer. The attendees will do a few real-life examples so they feel confident in creating a budget and be able to calculate their debt to income ratio after the program.

Credit is an important topic, and the majority of landlords in this charge $ 25-$ 55 per applicant for a credit check. Your credit score is not the only deciding factor for landlords. This program will cover a lot of information on credit including what makes up a credit score and what is in a credit report.

Participants will learn now to request a free copy of their report from annualcreditreport.com and on April 8 they will have the option of getting a credit report. This is fre…………… continues on NJ.com

… Read the full article