Get Help For Credit Card Debt

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Get Help For Credit Card Debt

Sure, we all love them but when misused, a credit card can break us. Too often, there is no self-control associated with credit card use, which means you are quickly in debt and then losing sleep over it. If you are tired of being drug down by credit card debt, we have good news. Credit repair services are offered throughout the country, providing services online and in person. Although not every company is honest, the Federal Trade Commission or FTC has developed a number of safety guidelines that help consumers choose a reputable company.

Scam Warning Signs

There are about as many debt reduction services as there are kinds of credit card. Credit repair service should always work within the law and not make any outrageous promises. They should also concentrate on helping you learn how to manage your money for the rest of your life instead of offering the financial equivalent of a band-aid. Any sales person or advertisements that have these statements are considered scams by the FTC:

"100% Guaranteed - We will Repair your Credit", not possible "Obtain a new credit identity", illegal "Have low credit ratings, bankruptcies, and liens removed from your credit history" "No credit problem is too hard for us to handle"

The bottom line is that credit repair services can help you get out of debt but to do so, they must adhere to federal laws. This means they must also advise you of free steps you can take to correct and better your credit report. Any company that asks for money upfront to obtain your credit report is lying. You as the consumer can ask for a free report once a year from each of the reporting agencies. Therefore, if they ask for money to obtain one means they are trying to scam you.

You are allowed one, two or three free credit reports a year. Just contact the three companies who offer this free service " Equifax, TransUnion and Experian " either over the phone or online. However, you do have to pay a fee for your credit score, which is different from your credit report.

Understanding the Credit Repair Organizations Act

Because credit repair services are actual businesses, they are strictly regulated by the Federal Trade Commission. To ensure you are protected, a law was established called the Credit Repair Organizations Act, which states that all debt reduction companies must inform you of your rights prior to any money being paid for their services.

In addition, these companies are not allowed to charge you until all of the work is done. Therefore, if any false claims are made regarding the services offered, you have the responsibility to let the FTC know. After all, this would be illegal action on the part of the debt reduction company.

Article Source: Credit Card Bad Credit People

About the Author

Learn more simple debt control methods on the Debt Smackdown website. Quit scraping by every month, never getting your debt paid off. Learn how you can get out from under your debt at www.DebtSmackdown.com

Author: WilliamBlake Total views: 48 Word Count: 482

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Sure, we all love them but when misused, a credit card can break us. Too often, there is no self-control associated with credit card use, which means you are quickly in debt and then losing sleep over it. If you are tired of being drug down by credit card debt, we have good news. Credit repair services are offered throughout the country, providing services online and in person. Although not every company is honest, the Federal Trade Commission or FTC has developed a number of safety guidelines that help consumers choose a reputable company. 
Scam Warning Signs 
There are about as many debt reduction services as there are kinds of credit card. Credit repair service should always work within the law and not make any outrageous promises. They should also concentrate on helping you learn how to manage your money for the rest of your life instead of offering the financial equivalent of a band-aid. Any sales person or advertisements that have these statements are considered scams by the FTC: 
"100% Guaranteed - We will Repair your Credit", not possible "Obtain a new credit identity", illegal "Have low credit ratings, bankruptcies, and liens removed from your credit history" "No credit problem is too hard for us to handle" 
The bottom line is that credit repair services can help you get out of debt but to do so, they must adhere to federal laws. This means they must also advise you of free steps you can take to correct and better your credit report. Any company that asks for money upfront to obtain your credit report is lying. You as the consumer can ask for a free report once a year from each of the reporting agencies. Therefore, if they ask for money to obtain one means they are trying to scam you. 
You are allowed one, two or three free credit reports a year. Just contact the three companies who offer this free service " Equifax, TransUnion and Experian " either over the phone or online. However, you do have to pay a fee for your credit score, which is different from your credit report. 
Understanding the Credit Repair Organizations Act 
Because credit repair services are actual businesses, they are strictly regulated by the Federal Trade Commission. To ensure you are protected, a law was established called the Credit Repair Organizations Act, which states that all debt reduction companies must inform you of your rights prior to any money being paid for their services. 
In addition, these companies are not allowed to charge you until all of the work is done. Therefore, if any false claims are made regarding the services offered, you have the responsibility to let the FTC know. After all, this would be illegal action on the part of the debt reduction company. Article Source: <a href="http://www.allbestarticles.com" target="_blank">Credit Card Bad Credit People</a> About the Author: Learn more simple <a href="http://www.debtsmackdown.com/5-simple-methods-for-getting-control-of-debt.php">debt control methods</a> on the Debt Smackdown website. Quit scraping by every month, never getting your debt paid off. Learn how you can get out from under your debt at <a href="http://www.debtsmackdown.com">www.DebtSmackdown.com</a>