People have always struggled with bad credit and the problems they carry. Bad credit prevents people, or at least makes it very difficult, from getting new credit. Because of this, they might struggle financially from lack of easy access to cash and other resources due to them being high-risk borrowers. This is why many of them fall into traps and scams that unscrupulous credit repair organizations cook up.
You may be new to credit repair or have not yet encountered any scam attempts, but that doesn’t mean that there aren’t any out there and that you aren’t the target. Everybody is fair game for scammers and about the only thing you can do is be aware of how they scam people so you won’t get trapped along with the others. Read on as we discuss how scammers con people off their money.
One of the most common scams, and certainly one of the most dangerous as well, involves credit repair companies offering to give you a “new” identity. They would often lure you in by the promise of fast-tracking your credit repair by giving you a blank slate, giving you the option to start anew. This might look like a good deal, and for people desperate enough this could be the deal of a lifetime. But what you don’t know is that this scam involves paying a company to give you an EIN or CPN instead of your social security number. This is illegal, folks. And what’s worse, if you do this kind of scam, you will be involved in committing identity theft as well as fraud, because many of these scam artists sell social security numbers.
It’s not fun being the victim of identity theft. Fortunately, it’s relatively easy to remove fraudulent or unauthorized accounts in your credit history, thanks to a provision from the Fair Credit Reporting Act. These types of accounts can be removed in just four days and this is what this scam is counting on. You may have heard of the boy who cried wolf. Well, this is it. They are going to get you to play the victim and say that your identity has been stolen. Some of these companies may even help you falsify legal reports to back up your claim. This is a quick fix to erase all your negative credit items but if something goes wrong, you will be slapped with so many lawsuits your head will be spinning.
Some people can get good credit by being listed as an authorized user of a credit card with good standing, usually owned by family or friends. It could boost your credit score by adding good credit to an otherwise bad one and lowering your https://bluewatercredit.com/credit-restoration.
Quick and simple, and an easy gig for the scammers. Credit repair companies will act as a broker for their credit-challenged client and a stranger with well-managed credit card accounts. The client will pay to be an authorized user of a good credit card, for a hefty sum of course, and the company and the owner of the card both take a huge cut. However, you could find yourself facing Uncle Sam in a courtroom when you are being sued for bank fraud or mail fraud.
Credit repair can be a pain but it doesn’t mean that you should take a short cut to good credit. For risk-free and reliable best credit repair in California, contact Blue Water Credit at (916) 315-9190 or visit the website at https://bluewatercredit.com/ and schedule your consultation.