Are you looking for ways to boost your credit? Watch out for credit repair scams: Here’s how to spot them.
Poor credit impacts millions of Americans, and many people seek out services to help them repair their credit and get out of debt.
Thomas Nitzsche, a certified financial educator at Money Management International, recently sent the VERIFY team a screenshot of a Facebook post from a person claiming to offer credit repair services at a low cost. Nitzsche says social media posts, similar to the one below, are typically scams, but many people have a hard time telling the difference between them and legitimate services. Here are tips on how to spot similar fraudulent offers.
THE SOURCES
WHAT WE FOUND
Red flags to help you spot credit repair scams
Credit repair companies typically promise to clean up credit reports for a fee, but the chances that these companies can do anything account owners couldn’t do on their own is slim, according to the Better Business Bureau (BBB) and Federal Trade Commission (FTC). That’s because each person has the right to correct inaccurate information in their credit file, but nobody can remove accurate negative information, the…
