I read a lot of forums and FAQ pages in financial sections.  Aside from a way to determine what the overall mindset regarding finances are, it gives me real world questions to ponder when considering a post.  I was researching a few things recently and am finding many not so great companies advertising credit repair.  A lot of people are seeking to improve their credit in order to survive these tougher times and indeed there are ways to see improvement in those magical little numbers but paying a company who is making a promise that sounds too good to be true, is not my idea of safe finances.

The FTC (Federal Trade Commission) cited recently some warning signs of companies that are probably going to take your money and run.  As follows directly from their site…

• The company wants you to pay for credit repair services before they provide any services. Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the services they have promised.
• The company doesn’t tell you your rights and what you can do for yourself for free.
• The company recommends that you do not contact any of the three major national credit reporting companies directly.
• The company tells you they can get rid of most or all the negative credit information in your credit report, even if that information is accurate and current.
• The company suggests that you try to invent a “new” credit identity — and then, a new credit report — by applying for an Employer Identification Number to use instead of your Social Security number.
• The company advises you to dispute all the information in your credit report, regardless of its accuracy or timeliness.

Human nature has us seeking the easy button.  For some it has taken years to get into financial trouble, the expectation that you could pay someone to wipe out accurate credit information is not only far fetched but potentially dangerous.  You may be handing your identity over for complete destruction.  Review your credit report.  Review your credit report.  Review your credit report.  Mistakes happen.  Dispute the mistakes and pay off the others as soon as you can.

There are great companies out there that will guide you through the process of debt repayment, credit repair, and financial wellness.  If you are seeking assistance, contact the Better Business Bureau for the companies information, research their information, ask for references that you can speak to.  There is no easy button.  My whole point is that if it sounds too good it probably is.  If we could pay someone to wipe out bad information then why do we have the measurement and reporting to begin with?  Please protect yourself and your family.  e