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Watch out for credit repair promises
According to the Florida attorney general office, there are legitimate ways to clean up credit reports.
BAY AREA (Bay News 9) -- A major effort is underway to find and convict companies that claim they can clean up people's credit reports.
The effort is called "Operation Clean Sweep." The Florida attorney generals office is working with the Federal Trade Commission and other states to crack down on companies with promises that are too good to be true.
Right now, there are two lawsuits against two companies in Pinellas County.
"A lot of times they are making it up in thin air, this is absolutely fraudulent and we are seeing a lot of it," said Sandi Copes with the Florida attorney general's office. "Our complaints on debt relief and credit repair scams have increased 60 percent in just one year."
The attorney general's office warns, "Accurate negative credit information cannot be erased." So, if a company says they can remove negative information from a credit report, the information is false. The only thing that can be changed are items that are actually wrong or beyond the seven or 10 year reporting date.
Also, hiding bad credit may be illegal. Some companies may entice people by saying they can get them a new credit identity. The companies do that by getting the person to apply for a new employer identification number with the IRS to replace their Social Security number, which is a federal crime.
According to the Florida attorney general office, there are legitimate ways to clean up credit reports, but it takes time.
For those looking to improve their credit, start by contacting your creditors if you realize you can't make a scheduled payment.
If you need a payment plan, contact your local credit counseling service, these non-profit groups offer guidance at little or no cost to you.
Check with your employer, credit union or housing authority for other no-cost credit counseling programs.
Finally, get a copy of your credit report and check for mistakes and outdated information you can dispute.
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