How do I know if I have been the victim of a credit repair scam?

Identifying a credit repair scam can be difficult, as many scammers do their best to conceal their dishonest intent. In Massachusetts, there are a few common signs that you may have been victimized. First, watch out for credit repair companies who offer guarantees that they can clean up your credit report. Legitimate credit repair services can help you dispute errors on your report, but they cannot guarantee that your credit score will improve. If a credit repair company charges a fee before providing any services, that’s a sure sign of a scam. This is illegal, as credit repair services are not allowed to charge their clients until all services have been provided. Also, if a company requests that you create a new credit identity – meaning that you apply for an Employer Identification Number to use instead of a Social Security Number – this is a huge red flag. Not only is creating a new credit identity illegal according to the Credit Repair Organizations Act, but it can also have disastrous consequences. Finally, if a company promises that they can remove negative information from your credit report, even if it is accurate information, this is a scam. No company can remove accurate information from your credit report. If you believe that you may have been a victim of a credit repair scam, contact the Massachusetts Attorney General’s Consumer Protection Hotline at 1-888-844-4919.

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How do I know if I have been the victim of a credit repair scam?

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