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Keep Yourself Healthy!

Keep Yourself Healthy!

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Published by trr1011
How to Stay Healthy
How to Stay Healthy

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Categories:Types, Reviews
Published by: trr1011 on Jan 12, 2012
Copyright:Attribution Non-commercial


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 ==== ====For more information about Fixing Your Credit, check out: this link:http://tinyurl.com/fixyourcreditx ==== ====Despite the massive efforts of the credit reporting agencies to convince you otherwise, there aremany credit repair companies that are no different than most other services. Like all industries,less-than-honest companies do exist and are damaging to their clients and to the credit repairindustry as a whole. For example, you may have 20 car mechanics in your hometown. Most likely, 17-18 of thesemechanics are honest, hardworking people who want to earn a living and give you the best servicepossible. The other 2 or 3 mechanics may not be so honest and will take your money while notgiving you the quality or quantity of service you pay for... or, they may be out-and-out crooks whotake your money and lie to you. This doesn't mean that your town is a bad place to get your carfixed; it just means that, like any industry anywhere, there are good companies, mediocrecompanies, and really bad companies. As for credit repair- do your homework. Is the company you are selecting a non-profitorganization? Are they claiming that they can delete accurate negative information? Do theyprovide you with consumer rights information? Do they charge outrageous fees? Consumersshould take these things into consideration when hiring a credit repair company to help them withtheir credit issues. To better understand the credit repair business some background on the industry is necessary.Beginning in the mid to late 1970s, many unscrupulous entrepreneurs realized that millions ofAmericans have damaged credit report ratings and that they could make money by convincingthese people they could remove all negative information from their credit files. Because the industry was completely unregulated, hundreds of credit repair companies sprung upall over the place. Most of them were dishonest and were interested only in stealing money fromgullible consumers. As a consequence, thousands of consumers were milked out of millions ofdollars while receiving little, if any, of what was promised to them. Federal and state authorities received numerous complaints about credit repair companies, and asa result, both federal and state governments began passing laws regulating the credit repairindustry. In addition, credit repair companies must contract with all clients in writing before workbegins and cannot collect any upfront fees unless they are a nonprofit organization, a licensedattorney who specializes in credit repair, or a person who works in one of several other areas whoare exempt from this requirement. Many states require credit repair companies to register with theattorney general's office in their state and post a surety bond. Despite such regulation, dishonest credit repair companies still operate. This bit of knowledge isused by dishonest credit repair services to perform credit repair for their clients. Their aim is to
either overwhelm the Big Three with reverification requests (letter writing) with the goal of gettingas much negative information removed as they possibly can, or hoping that a few requests slipthrough and result in the removal of negative information. It is important to note that not all credit repair companies are dishonest. Some companies offer avaluable service to those who find the whole process of credit repair too boring or complex, or justdon't have the time to learn about credit repair. Credit Repair Service is as legitimate andworthwhile as a tax preparation service -- the IRS claims that everyone can do their own taxes, butmost people hire someone else to do them. A number of credit repair companies have been offering to give consumers a "fresh start" withtheir credit histories. These companies seek to obtain a second Social Security number or federalID number for their clients. This is commonly referred to as "file segregation". File segregation is afraudulent practice and violates many Federal and State Laws. I strongly oppose the abuse ofconsumers by companies and individuals which direct you to commit fraud in order to obtain"clean" credit reports. In this scheme, you are promised a chance to hide unfavorable creditinformation by establishing a new credit identity. That may sound perfect, especially if you're afraidthat you won't get any credit as long as bankruptcy appears on your credit record.The problem:"File segregation" is illegal. If you use it, you could face fines or even a prison sentence. If you have filed for bankruptcy, you may receive a letter from a credit repair company that warnsyou about your inability to get credit cards, personal loans, or any other types of credit for 10years. For a fee, the company promises to help you hide your bankruptcy and establish a newcredit identity to use when you apply for credit. These companies also make pitches in classifiedads, on radio and TV, and even over the Internet. If you pay the fee and sign up for the service, you may be directed to apply for an EmployerIdentification Number (EIN) from the Internal Revenue Service (IRS). Typically, EINs - whichresemble Social Security numbers - are used by businesses to report financial information to theIRS and the Social Security Administration. After you receive your EIN, the credit repair servicewill tell you to use it in place of your Social Security number when you apply for credit. They'll alsotell you to use a new mailing address and some credit references. To convince you to establish a new credit identity, the credit repair service is likely to make avariety of false claims. Listen carefully; these false claims, along with the pitch for getting a newcredit identity, should alert you to the possibility of fraud. You'll probably hear: Claim 1: You will not be able to get credit for 10 years (the period of time bankruptcy informationmay stay on your credit record). Each creditor has its own criteria for granting credit. While one may reject your applicationbecause of a bankruptcy, another may grant you credit shortly after you filed for bankruptcy. And,given a new reliable payment record, your chances of getting credit will probably increase as timepasses. Claim 2: The company or "file segregation" program is affiliated with the federal government. The federal government does not support or work with companies that offer such programs.
 Claim 3: The "file segregation" program is legal. It is a federal crime to make any false statements on a loan or credit application. The credit repaircompany may advise you to do just that. It is a federal crime to misrepresent your Social Securitynumber. It also is a federal crime to obtain an EIN from the IRS under false pretenses. Further, you could be charged with mail or wire fraud if you use the mail or the telephone to applyfor credit and provide false information. Worse yet, file segregation likely would constitute civilfraud under many state laws. All the information in this article is provided to help clear up those "questionable" items on yourcredit reports. "Credit repair" is a general term usually used to describe a systematic process ofrehabilitating an individual's creditworthiness, or financial credit reputation. The process isgenerally started by obtaining copies of the individual's credit report, reviewing the credit report forerrors, omissions, and misleading information, and requesting corrections to such information bymeans of a formal dispute letter. Many laws, regulations, and practices govern this process, andmany organizations exist that will assist in guiding individuals through this sometimes complexprocess, though much, if not all, may be accomplished by individuals by their own efforts. When you identify inaccurate, erroneous, and obsolete entries on your credit reports and bring it tothe credit reporting agency's attention they must do one of two things by law. Correct it or delete it!The credit bureaus must investigate all disputes and respond to you within a reasonable timeperiod which is around 30 days. If you are in the process of applying for a loan, immediately notifyyour lender of any incorrect information in your report. Your lender will need to reorder your creditreport and score once any changes have been made to your information at the credit bureau.Small errors may have effect on your score. If there are significant errors, however, the lender mayturn down you're application entirely or charge you a much higher interest rate. The three majorcredit-reporting agencies under the statutes of the Fair Credit Reporting Act (FCRA) must deliveran accurate credit report to every American consumer. Marco Carbajo is the President and CEO of UCan2, Inc.,a national marketing companyspecializing in credit repair and FICO enhancement. He is author of many credit and debt relatedarticles. If you are looking for help to repair your credit or increase your FICO Scores visit us athttp://ucan2credit.com  Article Source:http://EzineArticles.com/?expert=Marco_Carbajo 

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