How to Avoid a Credit Repair Rip-Off

 The credit repair industry is a $10 billion dollar per year industry and growing every year. With that much money involved, there will undoubtedly be some dishonest people trying to make money off the unwary. They know that most people who are looking for help repairing their credit have never done it before. They also know that they can take advantage of people who don't know what to look for when seeking help to repair their credit. Being aware of your rights and the laws that these companies must follow will prevent you from becoming a victim of a credit repair scam. If you have any questions concerning where and how to use rocky mountain credit union, you can make contact with us at our site.

Some of these unscrupulous companies tell you that they can "hide" your bad credit history. They say you can start over with a new credit file. This is often done by giving you a number that they might call a "credit privacy number", "credit profile number" or something similar. The number will look exactly like a Social Security number and they tell their customers that this number can be used in place of a Social Security number. They say you can start a completely new credit history with this number. Chances are they are selling a stolen Social Security number. Customers who fall for this credit repair scam can be convicted of identity theft.