There are many advertisements in the newspapers, radio and e-mail about the credit repairing services. We even get calls from these people who claims that they could remove bad loans, bankruptcies, liens and judgments from our credit report for lifetime.
Have you ever thought of such a thing could really happen?
Is it possible for them to repair our credit? Let’s take a look into the actual truth behind these advertisements. Most of these claims are purely fake, all they do is make you believe that they could do these magic and loots our money. What we can do is actually saving selves from these fake advertisements. It may seem promising but when we realize the real face of them we would have lost our money that we paid them. Providing money for Credit repair is like throwing your money into the sea.
No one has ever seen a legitimate credit repair as the companies or ads claim. What we can do to improve our credit is by paying our loans properly by taking efforts it may take time but it never waste your money as these fake ads do.
The CREDIT REPAIR ORGANIZATION ACT (C.R.O.A) is enforced by the Federal Trade Commission and requires credit repairing companies to explain How long it takes to get the results, the legal rights in a written contract, three day right to cancel it without any charges, total cost to pay…and so on. Now let’s take a look into the steps we can take if any Credit repairing company fools you and take your money.
What are your options?
1. Sue them in the Federal court for your actual losses
2. Form a group with other people who lost their money and join them in a class action lawsuit against the fraud company and the company has to pay you attorney fees.
3. Seek punitive damages (The money to punish them for law violation.) Repair your credit by preventing overspending,creating a budget of your own by finding the mistakes in your credit report, negotiating with the creditors and making a plan to get out of debts.
Do not try to make the job easy by contacting credit repairing companies as catching a wish without wetting your hands is not at all possible. Prevention is better than cure. So don’t lose your money by trusting these third party companies like Cornerstone Rehab NY and try to fix your credit problem yourself,lt will only cost a little effort from you.
If you have more question please feel free to drop us a line.