Doing It Yourself, Doesn't Always Fix It
Often times you may find a number of resources that leave you with an impression
that you can fix your credit on your own at no cost. As a consumer, you do have
the right to attempt repairing your own credit, but it is imperative to
understand what that encompasses. Legitimate credit repair companies have the
knowledge and experience as well as the
“man-power” to dispute at the bureau
level and beyond. The time vested in researching, reviewing, and disputing can
turn into a vicious cycle that takes you away from paying attention to all the
other facets of your life. By having a proficient credit repair company, like
MSI Credit Solutions, do the legwork for you; you can now focus on all of the
other things that matter. In addition, if you are not fully educated on and
aware of the federal laws that are in place to protect you, you could end up
validating your own debt, which can be detrimental to your score. Your time is
valuable, and MSI Credit Solutions’ efforts, experience, and knowledge are worth
every penny.
Do A BACKGROUND Check…
Contact the Better Business Bureau, or visit their website, to see if the firm
has had any consumer complaints. Customers are honest about their experience
with a company, especially when it comes to managing their personal financial
information. It is absolutely essential to research the company thoroughly, and
have a comprehensive understanding about their track record.
View our BBB Record
Check with your state attorney general’s office or other state consumer
agencies to determine if there are any pending legal investigations against the
company. The Federal Trade Commission warns customers about simply relying on
chambers of commerce or other trade associations where membership is based
solely on membership fees.
Do NOT pay upfront costs unless...
Many states require non-law firm
credit repair organizations to place a bond with the state as a guarantee that they will comply with local laws, regarding
credit repair. When asking for a company’s credentials, make certain that the company you choose is bonded. According to the Texas Finance Code, “a credit services organization or a representative of the organization may charge or receive from a consumer valuable consideration before completely performing all the services the organization has agreed to perform for the consumer only if the organization has obtained a surety bond for each of its locations.” This law was put in effect for your protection and you should know your rights!
View Texas Finance Code
Do Not Get Caught Up In A Scam
Do not follow the advice of a company that offers to help you get a new credit identity. If the company tells you to apply for an Employer Identification Number, which has the same number of digits as a Social Security number, and instructs you to apply for credit using this, it is illegal. This practice is known as file segregation, and is considered a federal and state felony. If you follow illegal advice and commit fraud, you may be subject to prosecution.
Ask What The Company CAN DO FOR YOU…
Find out the extent of the services the company provides. Many credit repair
companies will only dispute at the bureau level – few and far between will
dispute to the creditors and collection agencies as well!
Read more about our credit repair
company
Get Their Track Record
Ask to see testimonials from customers who have been rendered services and
completed the program. Some companies may even allow you to contact the client
directly to find out about their experience! Reaching out to other consumers who
have been involved in the process that you are about to endeavor, allows you to
hear first hand, about their success!
In addition to reading testimonials, request to see proven results, and samples
of the companies deletions. Knowing that the company can not only render the
services, but also offer results is what you need to see for yourself.
View Sample Results
You Have The Right
To Expect Results
In addition to the services the company offers, find out if the company offers
any specific guarantees of results.
Ask about the duration of the program, and if it is required to stay in the
entire time, or if you can exit upon satisfaction at an earlier date. Be
cautious of companies that require you to be enrolled for a set amount of time,
because you should not be restrained by additional financial obligations (i.e.
monthly payments) if you have already achieved your desired results earlier than
expected.
View our credit repair duration average
You Get What You
Pay For
When a company provides a price, prior to reviewing your comprehensive credit
report, or a fixed price, please be advised that this is a red flag! Each
individual’s personal credit information is unique, and without having a
meticulous understanding about your personal information, the company is making
an uneducated guess when offering a price. Also, beware that there are companies
that may charge a smaller monthly fee, but require you to stay in the program
for a longer duration, thus stretching the prices out.
Know Your Rights As
The Consumer
A company should inform you of your legal rights as a consumer. In 1996, the
Credit Repair Organizations Act (CROA) was signed into law to protect the
public from unfair or deceptive advertising and business practices by credit
repair organizations. By law, credit repair organizations must give you a copy
of the “Consumer Credit File Rights Under State and Federal Law ” before you
sign a contract. In addition, the company should also provide you with a written
Notice of Cancellation that explains your three-day waiting period. Read these
documents before you sign anything!
Know What You Are Signing Up For
A company cannot perform any services until they have your signature on a
written contract and have completed a three-day waiting period. During this
time, you have the right to cancel the contract without paying any fees. After
this time period, however, services may begin, and it is your responsibility to
know the company’s cancellation policy. The written contract must specify the
following information:
> The payment terms for services, including the total cost.
> A detailed description of the services to be completed.
> A time period of how long it will take to achieve the results.
> Any specific guarantees the company offers.
> The company’s logistical information such as: name and business address.
>
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