The 2 main credit repair scams to avoid in 2018:
**The Jamming Scam**
The first credit repair scam is called “Jamming” or basically “exhausting the system”.
Jamming is when someone charges you $130 a month or a lump sum up front (illegally – its against the law to charge upfront fees to “repair” credit) in order to send 4 rounds of dispute letters through certified mail to each of the credit bureaus in hopes of getting them to trigger the 30 day clause.
The scammer gets your personal information, drags the process on for months – years, takes over $1,000 from someone (you) who clearly doesnt have much to their name and then once the bureaus temporarily remove the item, you think it was all worth it. You immediately tell your friends you got such and such removed. Well until it pops back up in 90 days. You also realize that removing items isnt the same thing as adding items and building positive payment history. The former doesnt get you approved to go back in debt like youre hoping to do.
**Section 609 Credit Repair**
The 2nd is the most ridiculous of all. You may have seen this one going around under the name of “Section 609 Credit repair”. What these fucktards did was basically come up with a section in the fair credit reporting act that sounded legit (section 609) and then give you some misinformation about what that section actually means. Section 609 is all about protections for those in identity theft. But instead, since they know you’ll never ever ever read that section of the FCRA, the scammer will claim section 609 is about the bureaus having to provide everyone with copies of the contracts they signed that created the original debt in question. They don’t.
In essence all section 609 scammers are doing (if they’re smart) is rebranding the jamming scam as section 609. Its basically all a rebranding exercise similar to the book “the secret” about the law of attraction which wasn’t really a secret at all.
Now if they’re NOT smart? Section 609 scammers are actually using section 609 in the FCRA for illegally manipulating what it was created for – the identity theft provision. The scammer will have you file a false police report and use that to send in to the credit bureau which is more serious and adhered to. The bureau knows theres a $4k fine for non compliance. So while they delete the item and do the research with the creditor to see if it was actually fraud, the item will not show temporarily. But after its determined its not fraud, you get arrested and go straight to jail for illegally filing a fraud claim.
Don’t be dumb.
Most of these items will fall off themselves and for zero 99. No one can legally remove accurate negative items off your report, nor should you want them to.
Live a cash based, no debt, high investment return philosophy and you can rule the world.