Avoiding Credit Repair Scams

As with any other industry out there, credit repair scams exist to take advantage of the unwary and the desperate. Seemingly legitimate organizations promise the hurting consumer the moon and instant relief from their debt issues if only they'll pay a certain amount of money up front. Fortunately, you don't have to worry about running into those shady businesses when you use the services of CompelteDebtHelp.com. Our national network of credit counseling and repair services are legitimate, trusted and can provide you with valuable references before you begin services with them. If you choose not to use the referral services of CompleteDebtHelp.com, then you're on your own, but here are some basic things you can look for to know whether or not you may be dealing with a scam company.

Promising instant help

You cannot get out of debt instantly, no matter what anyone tells you. If your debt situation is serious enough to require counseling, you shouldn't plan to be out of debt anytime soon, in fact. Scam companies will tell you that they have a secret technique the credit agencies don't want you to know about, or that they have a method of erasing your credit report so that you can start over. These tricks are illegal and may land you in serious legal trouble as well as in deeper financial straits as you hand over your hard-earned money to them in exchange for a box of "broken trinkets" that don't work.

Appealing to God

There are Christian organizations out there that help with debt consolidation and debt repair services. They mix the wisdom of the Bible with standard debt consulting services in order to provide the needy with help solving their debt problem. While this is a great thing for many people, the concept opens the door for scam artists to take advantage of the unwary by sprinkling a few Bible verses on their website and saying a few well-rehearsed words the first time you call them. If you plan to use a religious credit counseling service, be sure to get proof of their nonprofit 501-(3)C status before doing business with them, and ask around or do some research on their business on the Internet to see how satisfied their customers in the past have been.

Asking for Payment Up Front

No legitimate credit counseling or debt help service is going to give you a fancy five-minute spiel and then demand money before they can start working on your case. Even asking for money at that stage in the business relationship should send up a massive red flag for you. Legitimate services will spend a good deal of time getting to know the specifics of your financial situation, your income, your debt, and your obligations, before recommending a plan of action to you, telling you precisely what will happen and what to expect, and then asking for payment for their services before they begin. Before you pay any service so much as a single, thin dime, you should feel as if your credit counselor knows your situation very well, and you should have all of your questions answered about exactly what they plan to do once they have your money and how long it will take. If they speak in general terms, you would be well served to do some serious research on the business name before you proceed any further.