Credit Repair Scams: What to do When you are the Victim?

You will be surprised to learn that there are so many credit repair scams as there are people who are in debt. Most of the scams are similar to the rest and it mainly originates because desperate people in debt want to get over their situation as fast as possible and in their times of despair, they turn to the so-called companies that tend to offer them relief from their problem. These companies charge fees for their so-called services and slowly, then you realize that you are in a worse position than you already started out with. In case, if you have been the victim of any type of credit repair scams, the following tips will help you to better the situation.

Get in touch with State Consumer Affairs

There are state laws that are in use to protect consumers against the brutalities of credit repair scams. If you have been a victim in such a situation, you can immediately get in touch with the state’s consumer affairs office and can explain them the entire situation. The office will help you to understand your credit rights and will also help you to file your complaint based on which the complaints against the companies’ or the individuals will be recorded.

Reporting the incidence of the scam to the Attorney General

You might think that it is going to be a complicated affair if you want to report your scam to the attorney general. Well, this is not true, and the office of the attorney general is also responsible for receiving complaints against credit repair scams and can also enforce the law against those who commit these crimes. You can get in touch with the office directly for lodging the case and they will investigate the matter for you. However, it is upon the attorney general’s decision on which cases he will take up and which not but if your case is actually chosen, you can be rest assured that you will mostly retrieve your money back.

Always make sure that as prevention is better than cure, likewise, it would be better to keep away from companies who make you believe that they can rectify your credit score. Nobody can help you correct your credit history other than yourself, so in situations of bad credit, you need to understand the situation all by yourself and should choose to repair your credit situation without any external help. You can also seek advice of Your Personal Financial Mentor in order to help you identify reliable companies to resolve your credit related issues.

Categories: Credit

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December 4, 2013 Credit Repair Scams: What to do When you are the Victim?