How credit repair scam generally works!
We have heard a lot in the magazines or in television that remove bad debt or erase negative entries from your credit report. But the truth is, negative information can’t be removed from credit report. Credit report will show the actual entries. So when you find any advertisement like that, you should understand that it is a kind of scam which is well known as credit repair scam.
- How it works:
The company in which you have enrolled your name for repairing your credit, the company will contact various credit bureaus and tell them that negative information which you have in your report is false. As the credit bureaus want to show accurate information, they will temporarily remove negative information from your credit history. At this particular time the scammer will send you a copy of your credit and will show you that your negative information has been removed.
You may think that it is has been a miracle done by the credit repair company but after few days when the investigation have completed, accurate negative information will return back to your credit report and show accordingly. The important thing to note is that negative information can’t be removed and will show on your credit history for seven years.
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