Father
Professional
- Messages
- 2,602
- Reaction score
- 798
- Points
- 113
Bob:
Three months ago I lost my job, got microloans, there was nothing to pay for them. Accordingly, a lot of delays. But now I managed to get a job in a good place. I wanted to take out a bank loan and cover all my previous debts. But with my credit history, banks won't give me money.
And then I saw an advertisement on the Internet - one company promises to fix the credit history and supposedly then there will be no problems with loans. On the site, you had to leave your phone number and name, date of birth and email for the manager to contact me.
An employee called me back and explained their scheme - they write to all credit bureaus and dispute all previous loans, claim that this is a mistake and I did not take anything. Accordingly, all records are deleted and my history is clean.
All this is not cheap - $ 400. But my debts are much larger, so I figured it was a bargain.
Well, I transferred almost all the money from the first salary in a new place to them. They promised to call me and inform me how the case is progressing. But no calls.
And then a friend told me that you can fix your credit history yourself, and for free. It's true? Am I wasting my money?
Financial Culture Expert:
Bob faced swindlers who profit from debtors. Fraudsters specifically set up advertising on the Internet so that they can be seen by users who are interested in how to fix or improve their credit history.
The fraudsters claim that they can challenge all the records in your credit history. Other creditors will not see past debts and delinquencies. In fact, scammers will disappear with the money you pay for their "services".
By law, you can request your credit and loan reports from the credit bureaus, check them and, if you find incorrect entries, ask them to correct them.
Twice a year you can get a credit report from each bureau for free, and for money - as many times as you like. Each credit service determines the cost of preparing the report independently, but in any case it is ten times less than the amount requested by the fraudsters from Bob.
If you ask to correct erroneous data, bureaus do not charge money for checking and changing them.
In such cases, the credit service contacts the creditor, the information from which was questioned, and asks to confirm it. If it turns out that a mistake has occurred, the bureau corrects the credit history entries. For example, a person repaid a loan, but the bank forgot to inform the credit service about it - and the borrower has a debt. But such mistakes are rare. Creditors are fined for them, and they try to avoid such miscalculations.
When it turns out that all the information in the credit service has been transmitted correctly, the entries in the credit history remain unchanged.
If a company promises to "improve" or "fix" your credit history, be sure they are scammers. Such an undertaking will turn out to be a waste of time and money for you.
Communication with fraudsters is also dangerous because you provide them with your personal data and confidential data of the card with which you pay for "services" on their website. As a result, all the money from your account can be stolen from you.
For more information on how to request and, if necessary, correct the report on your loans and borrowings, read the text "Credit history".
Three months ago I lost my job, got microloans, there was nothing to pay for them. Accordingly, a lot of delays. But now I managed to get a job in a good place. I wanted to take out a bank loan and cover all my previous debts. But with my credit history, banks won't give me money.
And then I saw an advertisement on the Internet - one company promises to fix the credit history and supposedly then there will be no problems with loans. On the site, you had to leave your phone number and name, date of birth and email for the manager to contact me.
An employee called me back and explained their scheme - they write to all credit bureaus and dispute all previous loans, claim that this is a mistake and I did not take anything. Accordingly, all records are deleted and my history is clean.
All this is not cheap - $ 400. But my debts are much larger, so I figured it was a bargain.
Well, I transferred almost all the money from the first salary in a new place to them. They promised to call me and inform me how the case is progressing. But no calls.
And then a friend told me that you can fix your credit history yourself, and for free. It's true? Am I wasting my money?
Financial Culture Expert:
Bob faced swindlers who profit from debtors. Fraudsters specifically set up advertising on the Internet so that they can be seen by users who are interested in how to fix or improve their credit history.
The fraudsters claim that they can challenge all the records in your credit history. Other creditors will not see past debts and delinquencies. In fact, scammers will disappear with the money you pay for their "services".
By law, you can request your credit and loan reports from the credit bureaus, check them and, if you find incorrect entries, ask them to correct them.
Twice a year you can get a credit report from each bureau for free, and for money - as many times as you like. Each credit service determines the cost of preparing the report independently, but in any case it is ten times less than the amount requested by the fraudsters from Bob.
If you ask to correct erroneous data, bureaus do not charge money for checking and changing them.
In such cases, the credit service contacts the creditor, the information from which was questioned, and asks to confirm it. If it turns out that a mistake has occurred, the bureau corrects the credit history entries. For example, a person repaid a loan, but the bank forgot to inform the credit service about it - and the borrower has a debt. But such mistakes are rare. Creditors are fined for them, and they try to avoid such miscalculations.
When it turns out that all the information in the credit service has been transmitted correctly, the entries in the credit history remain unchanged.
If a company promises to "improve" or "fix" your credit history, be sure they are scammers. Such an undertaking will turn out to be a waste of time and money for you.
Communication with fraudsters is also dangerous because you provide them with your personal data and confidential data of the card with which you pay for "services" on their website. As a result, all the money from your account can be stolen from you.
For more information on how to request and, if necessary, correct the report on your loans and borrowings, read the text "Credit history".
