Is credit repair legal? ARREST! The 1 Credit Improvement Technique That Could Get You Arrested

Is credit repair legal? Can you get in trouble for hiring a credit repair clinic, service or lawyer? Are there any laws about repairing your credit that I should know about BEFORE you start? In this article we’re going to take a quick and easy look at the finer points of LEGALLY improving your credit file… without finding yourself in a mess of trouble! Are you curious to know more? Read on as we take a closer look below!

The good news? Credit repair is your RIGHT (and totally kosher too!)

Yes, you have the right to dispute information in your credit report. Yes, you can hire a professional credit lawyer, credit service or clinic. (not necessary though) And YES, you should expect your credit file to be 100% accurate…and if it’s not, you DO have the right to demand that the negative items be removed immediately. (even if they are technically correct otherwise)

Are there laws governing credit? How is the government involved?

Yes, the Fair Credit Reporting Act and its 25 years of revisions, interpretations, and amendments were passed to protect YOUR interests. It was created by Congress to ensure that you are NOT penalized for negative entries on your report that CANNOT be verified. Items that are old cannot be held against you either. (7 years for most things…10 years for more severe entries in most cases) Believe it or not…although the lending industry is HUGE, in many ways being a “little” guy has its advantages. Hundreds of thousands of people have improved their credit on their own in DRAMATIC ways…and with very little expense. (including yours sincerely… 🙂

Okay…but what is the 1 credit improvement technique that can get you in REAL trouble with the law?

Honestly? File segregation scams, or obtaining a secondary federal identification number in order to apply for credit, CAN get you into real legal trouble. Many credit clinics teach this approach…and it really doesn’t work. (essentially requires you to use an alternative to your social security number for credit applications…often a business tax ID number) Many people have gotten into REAL trouble for pushing these types of schemes, and more than one person he has gone to prison for fraud as a result. (Also, it is NOT necessary… it is not effective or ethical!)