Credit Resources

Warning Signs of a Bad Credit Repair Company
Do not use any credit repair company that doesn't follow industry standards or regulations i.e. bonded, insured and registered with the appropriate authorities.
Do not use a credit repair company that guarantees, to remove accurate negative information from your credit history.

Do not use a credit repair company that promises to exploit "secret" or "little known" loopholes in the system to remove information from your credit history. I can’t tell you how many credit repair companies we’ve reviewed who supposedly have “ex credit bureau CEO’s” working for them.

Do not use a credit repair company unless it provides a written disclosure of your rights in relation to your credit history before asking you to sign a contract. The contract should include all the terms and conditions of payment, a detailed description of the services to be provided, including any guarantees of performance and an estimate of how long it will take to perform the contract. The agreement should also include a right to cancel lasting at least three days, in case you have second thoughts.

Do not use a credit repair company that encourages getting a New Social Security Number - Individuals are only permitted to have one Social Security number. It is against the law to use a different Social Security number to create a false identity.

Do not use a credit repair company that encourages getting a Federal Employer Identification Number (abbreviated as EIN or FEIN) - Proponents of this "file segregation" scam claim that you can obtain a federal tax ID number, as if you are a business, then get a clean credit record under that tax ID number. It is against the law to use an EIN to set up a false identity. Further, a new credit report under an EIN will not show any credit history. It is unlikely that a creditor would regard a new business with no credit history as a good credit risk.