Taperman articles

There is a danger in using credit repair or credit counseling agencies which may not be immediately apparent. Credit counseling services are usually not-profit , but commercial credit counseling services will usually charge fees in excess of 10% of your total debt and an additional upfront fee of $300.  The services of each are similar whether it's a non profit or for profit agency.  Neither type of agency can guarantee results.

 
Cash flow problems are not unusual--nearly everyone has them at one time or another.  It becomes difficult to keep up with monthly payments and obligations.  Eventually, damaging information will become a part of your credit report.  When this happens, it is almost impossible to be granted additional credit, just at the time when is most needed.

It is possible to overcome the problem of bad entries on the credit report, but it can't be done by paying a thief  hard earned money on the basis of false claims such as "Bad credit erased in 90 days--guaranteed" or "Bankruptcies, bad debts, judgments and liens removed from your credit file" or even "Legally create a brand-new credit file." 

Each of the above claims is false.  If you see such a claim, understand that each of the claims is false and by using some of the techniques described in such material, you put yourself at risk for federal prosecution.  The FTC is the governmental agency in charge of credit bureaus.  They strongly recommend that you do not pay your money to any agency claiming such results in regards to your credit file.

 
A false credit repair agency can cost hundreds or even thousands of dollars.  When you finally give up in disgust or because of lack of money, you may find yourself in the same situation of bad credit report entries or reports which appear worse than before you started the credit repair process.

If you are determined to work with a credit repair agency, at least avoid the following types of credit repair companies:

Those that insist upon payment before any services are performed.

Those that don't inform you of your legal rights and what you can accomplish by using your own abilities at no cost.

Those that urge you not to contact the credit bureau directly.

Those that urge you to invent a new credit file by using an Employer Identification Number instead of a Social Security number.

Those that urge you to dispute all negative information in the credit report.

Those that encourage you to perform any action that seems illegal. 

Keep in mind that changing your identity with intent to defraud and using false Social Security numbers are acts of fraud which can be prosecuted. 

If you choose to apply for credit using either mail or the telephone under false names, you can be charged and prosecuted for wire fraud or mail fraud. 

Honest credit repair takes time, even if you're just focused on repairing the damage to your credit bureau file directly.