The overnight credit repair scam generally preys on people who are desperate to get increased FICO scores. Normally they were just declined for an important much needed loan like a mortgage or car loan and are scrambling for a solution.
Many of these people get lured in by the promises that they will see better credit in 24 hours. They maybe getting more then they bargained for!
How Overnight Credit Repair Scam Works
Generally the most common way that these companies erase negative credit from peoples past overnight and end up breaking the law is to abuse the system and create a new credit profile for their clients.
They accomplish this by having the customer apply for a EIN or TIN number from the United States Federal Government. These numbers are normally reserved for employers or people legally in the USA temporarily. If you apply for one of these numbers you can effectively use it to start a new credit profile that is fresh and clean.
As slick as this sounds keep in mind this practice has been going on a long time and detection measures have been put into play by the three major credit bureaus and they will eventually discover what you are doing.
If and when it is discovered there is a real possibility that you could be charged with a felony for not using the EIN or TIN numbers for their intended purposes.
And it will not matter if a company talked you into doing this or not, the responsibility and the consequences will rest with you!
Why Not Clean Up Your Credit Thee Right Way
If you have bad credit and want to clean it up under Federal law you have the legal right to dispute any of the information that is showing on our credit report.
Even if this negative information is factual you can still dispute it and under the rule of law the account issuer has to prove you wrong and not the other way around.
This is done by sending in letters to the reporting bureaus that contain your name, account number,social security number and reason fro disputing the information.
It is usually Best to dispute a certain part of the negative account like balance owed,date recorded or something like that. Do not just state the account is not yours because that does not work as well anymore.
If you want raise your credit scores fast check out Credit Repair Magic and learn more about our proven credit repair plan
Many of these people get lured in by the promises that they will see better credit in 24 hours. They maybe getting more then they bargained for!
How Overnight Credit Repair Scam Works
Generally the most common way that these companies erase negative credit from peoples past overnight and end up breaking the law is to abuse the system and create a new credit profile for their clients.
They accomplish this by having the customer apply for a EIN or TIN number from the United States Federal Government. These numbers are normally reserved for employers or people legally in the USA temporarily. If you apply for one of these numbers you can effectively use it to start a new credit profile that is fresh and clean.
As slick as this sounds keep in mind this practice has been going on a long time and detection measures have been put into play by the three major credit bureaus and they will eventually discover what you are doing.
If and when it is discovered there is a real possibility that you could be charged with a felony for not using the EIN or TIN numbers for their intended purposes.
And it will not matter if a company talked you into doing this or not, the responsibility and the consequences will rest with you!
Why Not Clean Up Your Credit Thee Right Way
If you have bad credit and want to clean it up under Federal law you have the legal right to dispute any of the information that is showing on our credit report.
Even if this negative information is factual you can still dispute it and under the rule of law the account issuer has to prove you wrong and not the other way around.
This is done by sending in letters to the reporting bureaus that contain your name, account number,social security number and reason fro disputing the information.
It is usually Best to dispute a certain part of the negative account like balance owed,date recorded or something like that. Do not just state the account is not yours because that does not work as well anymore.
If you want raise your credit scores fast check out Credit Repair Magic and learn more about our proven credit repair plan
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4 comments:
These numbers are normally reserved for employers or people legally in the USA temporarily.
Agree. Don't fall for the create another file scam. This will only get you in trouble. There are plenty of legal doable ways to clean up your credit.
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