2,553
edits
Difference between revisions of "Loan and Credit Scams"
Jump to navigation
Jump to search
no edit summary
| Line 25: | Line 25: | ||
==Scam 5. Credit repair scams== | ==Scam 5. Credit repair scams== | ||
The pitch goes something like this: <BR> <BLOCKQUOTE>"Credit problems? You can now wipe your credit report clean of bankruptcies, judgments, foreclosures and lien payments. AND IT’S 100% LEGAL!"</BLOCKQUOTE> | The pitch goes something like this: <BR> <BLOCKQUOTE>''"Credit problems? You can now wipe your credit report clean of bankruptcies, judgments, foreclosures and lien payments. AND IT’S 100% LEGAL!"''</BLOCKQUOTE> | ||
This is a '''credit repair scam'''. It promises to help you improve your credit report. The detail in your credit report helps businesses, banks and others decide if you are likely to pay your bills on time. The scam typically urges you to dispute the negative information in your credit report or to set up a new credit identity for yourself. | This is a '''credit repair scam'''. It promises to help you improve your credit report. The detail in your credit report helps businesses, banks and others decide if you are likely to pay your bills on time. The scam typically urges you to dispute the negative information in your credit report or to set up a new credit identity for yourself. | ||