Bad Credit Repair - Free Credit Report "scam"

Bad Credit Repair - Free Credit Report "scam"

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Bad credit repair pitches and promises lead uninformed dreamers to get scammed and sued.

Warning: If you still believe in the Tooth Fairy and spammy credit repair pitches, dont read this. I don't want to be the guy who bursts your bubble or throws the truth at you.

What am I talking about?

Daily, car ads fill your TV screen with small print when advertising 0% financing and $40 bazillion cash back. Oh wait, theres more: theyll give you 300% Kelly Blue Book for your clunker.

Its all true, right?

Of course its trueuntil you read the super-small print demanding a magnifying glass.

Guess what, credit (dis)repair offers are no different.

These experts get you all excited about some magic pill letter that only requires a $.42 cent stamp and youre good to go.

Today, a lady named Jayne, whos on my Credit-Success list, emailed me.

The other day, Jayne received an email from a credit repair company offering Jayne a FREE letter for stopping debt collection calls.

Jayne thought it sounded too good to be true.

What I told Jayne is what Im about to tell you: the letter is realthats simply Fair Debt Collection Practices ACT (FDCPA).

The problem with this LETTER and EMAIL she passed me from this credit repair company is more serious than a letter that seems too good to be true.

THE SMALL PRINT SAYS IT ALL!

You have the right under FDCPA to inform a debt collector you do NOT want to receive phone calls. In fact, heres the sample Do Not Call letter Jayne received from this credit repair expert (see below):

Debt Collector Do Not Call

Your Name
Mailing Address
City, State, ZIP

Collector
Collector Address
City, State, Zip
Date:
Re: Acct # XXXX-XXXX-XXXX-XXXX
Dear Collection Representative,

I would like to request in writing, that no telephone contact be made by your offices to my home or to my place of employment. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be documented and considered harassment. All future communications with me must be done in writing and sent to the address noted in this letter by USPS.
Best regards,

Your Name
Address
Phone #

Now, heres what the credit repair expert either does NOT know to tell you or forgot to tell you about firing off this type of letter.

And these TWO overlooked points might just put you in HOT water:

1. BEWARE contacting a debt collector. Any time you contact a debt collector by phone or mail, you risk further collection activity. By sending a letter, you acknowledge youre getting their calls. Are you prepared to be sued?

Suggestion: Before you fire off a do not call letter or make any type of contact with a debt collector, you must understand your states laws about resetting statute of limitations. You also need to know if the debt collector (aka Furnisher) is reporting your account 100% accurately.

Suggestion: You might consider programming your phone not to ring when the debt collectors automated calls come in, whether at work or at home.

2. BEWARE recording a phone call! In the credit repair experts email, this credit repair expert advises you to record a debt collectors calls & conversations. Let me be very clear: know your states laws about recording phone calls. If you are simply turning all debt collection phone calls to a voice recorder, thats one thing (debt collectors usually will not leave a detailed message because most will not incriminate themselves).

More importantly, in many states its ILLEGAL to record a phone conversation without the express permission of the party with whom youre speaking.

Suggestion: If youre compelled to send a do not call letter to the debt collector, insert a statement in the letter you send certified mail, return receipt requested informing the debt collector all calls regarding this alleged debt will be recorded (that is, all calls to you at home, at work & to neighbors or family members debt collectors might call to try to intimidate you).

What is your experience with debt collection phone calls? Which debt collector gave you a hard time? What did you do about it? Please share any experience, question or comment about about misleading credit repair pitches, debt collectors and/or credit disrepair companies.

Bad credit repair pitches ALWAYS sound great to uninformed people. Unfortunately, credit repair pitches can be more dangerous than the misleading car ads filled with small print gotchas. This debt collector "do not call" letter offered FREE should come with a HUGE disclaimer for you to use at your own risk. As you may or may not know, many credit repair scammers and opportunists make a fortune selling hype and miracle cures. They may very well just how lazy, uninformed & desperate most people are about repair credit fast promises.

About the Author:
Bad Credit Repair Coach Mike Payne helps people improve their credit and grab the keys to their new homes...as quickly as possible...using 100% LEGAL & effective strategies. After more than 10 years, Mike's DVD 8 Secrets To A 680 Credit Score! offers step-by-step credit repair help @ http://www.fixmyuglycredit.com



Article Originally Published On: http://www.articlesnatch.com


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