Credit Card Debt Help Available for Those Who are Sinking (cont.)
Contributed by Julia Reese
Watch out for credit card debt help scammers
The single monthly payment that is negotiated by credit repair organizations goes directly to them. There have been reported scams of some organizations not making the payment to creditors on time, and some have even escaped with unsuspecting customers' money.
There are some red flags to look out for -- beware of companies that want you to pay them upfront fees before any services are provided, that do not inform you of your legal rights and what you are able to do for yourself at no charge, recommend that you make direct contact with a credit bureau, make a suggestion that you attempt to create a new credit report by applying for an Employer Identification Number in lieu of using your own social security number, or advise you to refute all the information contained in your personal credit report or take any action that just seems illegal, such as inventing a whole new identity.
If you follow any such action, you could be prosecuted for fraud as it is a federal crime to misrepresent yourself through a false Social Security Number or Employer Identification Number. And remember that through the Credit Repair Organizations Act, no organization can charge you a fee before providing any service. But all this aside, there are legitimate organizations out there who are there to help. Just make sure you do your research.
