Beware & Compare


As you selectively research various credit report repair businesses, compare prices, services and guarantees, as well as the companies themselves and find out which ones are actually law firms and which are 'agencies'. Browse through their websites and see how open they are about providing helpful information, and finally, and don't hesitate to call and ask questions.

Remember, your reputation, as well as your money, is at stake. Be mindful of the following guidelines when searching for credit restoration services:

• Stay away from businesses that make statements like, "We promise to do anything to improve your credit score", or "We can erase your bad credit - 100 percent guaranteed!"

• Be wary of any credit repair agency that won't fully disclose their company information and/or verifiable identity, 		or provide a complete address (beyond a Post Office Box).

• Beware of companies that are unwilling to explain your legal rights as well as what you can do yourself - at no cost. Legitimate services will clearly outline their procedures for improving your credit.

• Don't deal with companies that are eager for you to invent a 'new' credit report by applying for an Employer Identification Number to use instead of your Social Security Number. It is a Federal offense to obtain an Employer Identification Number from the Internal Revenue Service under false pretenses.

These companies are recommending that you create a new credit identity. They suggest that by obtaining an Employer Identification Number (EIN) you can use that number instead of your Social Security Number to qualify for additional credit. (Of course the agency says it's a common 		practice and is completely legal.) If an agency asks you to make false statements on a loan or credit application, misrepresent your Social Security number, or apply for an Employer Identification Number from the Internal Revenue Service under false pretenses, you are the one who will be subjected to personal liability and prosecuted for committing fraud. Furthermore, if you follow the advice of some crooked agency and use the mail or telephone to apply for credit and provide false information you could be charged for mail or wire fraud. It's a federal offense to make false statements on a loan or credit application and/or misrepresent your Social Security Number.