Scams in credit, housing and funding often have one thing in common: pressure to act now. When someone rushes you, take that as a signal to slow down.
Common warning signs
- Guaranteed approval, deletions or score increases
- “Secret” methods or loopholes
- Requests to use a different Social Security number or a CPN
- Requests to change pay stubs, bank statements or employment information
- Payment demanded up front by gift card, wire or cash app
- No written contract, or a contract you are not allowed to review
Before you pay anyone
- Look up the company’s name, reviews and complaints
- Get all terms, costs and refund rules in writing
- Confirm what is promised and what is not
- Take time to compare other options
Know your rights
Under federal law, a credit repair company must give you a written contract and a 3-day right to cancel, and cannot charge before services are performed. You can also dispute inaccurate items with the bureaus yourself for free.
If you think you have been targeted, you can report it to the FTC at ReportFraud.ftc.gov.