Be wary of quick-fix pitches to repair credit

This is a news article about quick fix credit repair scams that are far too common today.  For honest credit restoration use a reliable service such as Lexington Law.

WASHINGTON — With Americans’ credit scores plunging after record numbers of mortgage and credit-card delinquencies, companies that promise quick fixes — eliminating negative information in credit-bureau files — are proliferating, say federal officials.The pitches are especially attractive to homebuyers and mortgage applicants because they offer a way to raise credit scores enough to get loan applications accepted, and even to qualify for lower interest rates.But two new legal settlements by the Federal Trade Commission suggest seductive “credit repair” come-ons can lead consumers into costly credit ripoffs.Both cases involve companies that allegedly claimed they could remove any negative information from consumers’ files. One even said it could do so because it had special inside contacts with lenders and credit bureaus.Successful Credit Service, based in Woodland Hills, Calif., allegedly promised it could erase bankruptcies, missed payments, tax liens and other damaging credit-file data permanently.”We fix the credit 100 percent guaranteed whether it is a bankruptcy or a 30-day late,” said one of the company’s Internet ads cited by the FTC. “It does not matter how low or how big it is; anything that’s on there, we can remove.”

via Real Estate | Be wary of quick-fix pitches to repair credit | Seattle Times Newspaper.