Info on Credit Repair Websites
You'll find lots of information floating around the Internet about credit repair, credit restoration, and increasing your credit score. Some of the information is good, and some could get you into trouble.
First of all, it is not legal to establish a new credit identity. This credit repair scheme called “file segregation” promises a chance to hide unfavorable credit information by establishing a new credit identity. This may sound great to you, especially if you’re afraid that you won’t get any credit due to a bankruptcy or other negative credit report listings.
The problem: “File segregation” is illegal. If you use it, you could face fines or even a prison sentence. If you come across any Web site or agency that offers you this alternative, keep looking.
Although there are many such websites out there that will claim to help you by changing your identity or with other schemes that are not legal, there are just as many good ones.
Info on credit repair websites is available from the Federal Trade Commission Web site. Take a look on OnlineCreditProfessor.com for an example of a very good and informative site about credit repair and other personal finance topics. Suzanne Busby, the Online Credit Professor, also offers an excellent and informative Blog that is sure to help you, as well.
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