Trying to keep your head above the financial waters can be difficult. All you know is you have gotten yourself into a sticky situation and you don’t know how to stop or fix it. Where do you begin to look for help? Is there an easy way out of this financial hole you have dug for yourself? The best place to look is to yourself and not to the many scams that are out there today.
Just as there are get-rich-quick schemes, there are an equal amount of ads from fly-by-night companies that will offer you ways to get out of debt quickly. Face the facts, there is no easy way to get out of debt. Don’t believe the promises that some company can magically erase your financial mishaps. Very few are legitimate and very few will do what they say.
If a company does not give you all of the information on your legal rights, or if they don’t explain that you can do things for yourself for free, they are probably irresponsible companies. If someone tells you that you cannot contact a credit report company directly, they are lying. If anyone asks you to pay for any sort of credit fixing services up front, they are scamming you. If a company tries to get you to make up an identity and apply for an Employer Identification Number instead of your Social Security number, make sure that you like them because you will probably be sharing a prison cell with them.
The truth is that no one has the capability of removing anything negative report, but you can’t have someone go into the computer system and erase it. The point is simple: everything that a credit repair service can do, you can do for yourself. The issue then becomes whether or not you want to do it yourself.
Everyone is entitled to a free credit report if they have run into problems like being denied for something like insurance, or employment. You do have to ask for the credit report within 60 days of denial though. If you are unemployed, on welfare, or if you are suspecting identity theft, you are entitled to one free report a year. If you decide that you need an additional copy of your credit report before 12 months, you will have to pay a $9.50 additional charge.
In the case of credit prevention is the best medicine. Don’t fall into the trap of letting your payments slip and you won’t have to deal with the hassle of repairing them later on. As an added measure of precaution, you may want to enlist the help of one of the credit report companies. Many people use these companies to keep their records up to date and alert them of any identity theft. The government can also be of service, and you can visit their website at www.ftc.gov for further information. When it gets right down to it, the best way to avoid dealing with credit repair is to not get yourself in that position, to begin with.