Credit Repair Scams & Fraud: Advice From The BBB

Credit Repair Scams & Fraud
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Advice From The Better Business Bureau (BBB):

Credit Repair Fraud Proliferates (From the Council of Better Business Bureaus 3/7/2002)

The truth is, no one can legally remove accurate and timely negative information from a credit report. But the law does allow you to request a reinvestigation of information in your file that you dispute as inaccurate or incomplete. There is no charg

If you decide to respond to a credit repair offer, the Better Business Bureau suggests you beware of companies that:

do not tell you your legal rights and what you can do -- legally -- for free;
recommend that you not contact a credit bureau directly;
want you to pay for credit repair services before any services are provided; or
advise you to dispute all information in your credit report or take any action that seems illegal, such as creating a new credit identity by obtaining a federal employer identification number to use instead of a social security number. If you follow illegal advice and commit fraud, you may be subject to prosecution.

It's a federal crime to make false statements on a loan or credit application, to misrepresent your Social Security Number, and to obtain an Employer Identification Number from the Internal Revenue Service under false pretenses.

If you have a complaint about a credit repair clinic, contact the Better Business Bureau, your state attorney general's office, and the Federal Trade Commission.

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