How to Identify and Avoid Credit Repair Scams

A credit repair scam is basically a program that takes advantage of those who are desperately looking for quick solutions to fix their credit reports that are often full of negative marks. The program usually promises to provide a person with new identity. You should be aware and try to understand these scams. More often than not, the offer is too good to be true. Also remember that there’s never a fast solution to repair your credit.

Selecting a credit repair solution, that is actually a scam, can only lead to further financial hardship. It will even cost you money that you don’t own, it will waste valuable time, and it will not repair your credit.
Below are the following indicators to help you identify credit repair scams:

  1. A fake credit repair program promises to eliminate all the negative ratings from your credit report. This is not possible because no one is allowed by law to get rid of the accurate details from your credit rating, even if the agency claims that they can do so. Negative remarks are only eliminated after 7 to 10 years, and there’s no way to speed up the process except in cases that the negative items cannot be backed up by documents.
  2. A credit repair scam will instruct you to sign up for new identity by providing your credit information as well as other details such as your Social Security Number. Some agencies “require” these details so they can give you a new identity. This is not only impossible but also illegal.
  3. Like any other scams online, fake credit repair agencies ask payments first before rendering services. Take note that according to the Credit Repair Organizations Act, any company cannot charge any payment until they have started to deliver their services. Don’t pay anything before they have delivered on their promises.
  4. Most scammers online get leads through email. Most unsolicited emails are scams, so it is best not to take your chances on them. It is best to just delete them from your emails and also mark the sender as a spam.
  5. They prohibit you to call credit reporting agencies. Remember, you are guaranteed by law to receive copies of your credit rating and you can dispute any errors. Be cautious of anyone who tells you the other way around.
  6. Most credit repair scams will give you a dubious contract to sign. Hence, before you affix your signature to any kind of paperwork, it is crucial to read through the provisions and terms carefully and make certain that the contract contains all the details such as the name of the business, address, the amount you need to pay, the date of the services, and how you can cancel the contract. If the agency asks you to sign a contract before providing you a copy to review, just stay away from them.

How to Avoid Credit Repair Scams

The surest way to avoid credit repair scam is to learn how to fix your credit on your own. In investigating your credit, make certain that you know your rights. Primarily, you can receive a free credit report every year from the three major credit bureaus – Experian, Equifax and TransUnion through

Also, you can request for a report in certain situations such as if a company disapproves your mortgage, insurance, or employment. You only need to contact the credit agency that provided your credit report to the company within 60 days of receiving the notice. You can also receive a free credit report if you don’t have a job and you are applying for a new employment within 60 days or your latest report contains inaccurate details due to identity theft or fraud.

To be fair, not all credit repair companies are fraudulent. So be sure to do your research before doing anything in fixing your credit report.

Trending and Binary Options

The thing with trading in the stock market is that it’s really gambling. Trading and investing is gambling in long term and basically probably one of the most dangerous ways to risk your money. But of course comparing the dangers of losing your cash in the stock market compared to losing your money to gambling in a casino or betting is a whole world of difference. Because in the stock market, research is important and research can keep you from investing in the wrong company, unlike in gambling where the threat of crashing and burning is very real and instant. Investing in the stock market is basically safe, considering that you want to hold on to your investments for the next 20 years. Now trading on the other hand is a very real form of gambling.

So in the area of stock market investments there are two ways to function, one is a long term investment and the other is trading. A long term investment is basically you are picking a single company and investing in it long term, selling your stock in roughly 10 to 20 years or maybe less depending on how you wish to manage your stock. The other is trading, now trading functions as a very lucrative money making ordeal. In fact it is a career for many financial oriented individuals out there. Trading means investing when the market is open and immediately selling when the stock’s price increases. Traders tend to sell whenever the increase can be as low as thirty to 50 cents. It isn’t a problem for Traders since they invest by the millions and they buy and sell more than once every day.

But for some of the more cautious people, long term investing is the way to go because of its generally slow increase in funds and its likeness to a retirement. But the thing with investing is that sometimes Trends become rather dangerous to follow. So can you trust the trend when trading in Binary Options? But first what is a Binary Option; basically, according to experts, a binary option is going all in. Putting all your available funds into your investment, a binary option is almost always a fixed amount when investing or a completely empty realm. The advantage of a Binary Option or going all in is that the IF your investment is successful, the returns will be guaranteed to be incredibly high. Then again, if your investment fails you will lose an incredibly high amount of money.

Now the question regarding trends that are of the primarily concerned areas, such as the inevitable fact that that all values that are green eventually go red, meaning that “what goes up must come down.” So can you trust the trend? Well, if you want to go Binary, you cannot trust the trend. The trend will eventually crash since those who were already invested in the trend will eventually pull out their investments the moment the value of the stock goes green. So in short, don’t trust the trend.