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Illegal Means of Credit Repair Companies to Clear Your Credit History

By Janet Lacey
Published: Thursday, May 5th, 2011

We’ve done many wrong things in our life. Nobody is perfect. Everybody assumes that there is something that went wrong in his life, at least once. And a very practical example is in credit scores: no one ever had a perfect score. Because there is something wrong even if you tried to hit the elusive 850 like a competitive, perfectionist freak.

Most people harm their score, but not bad enough shriek and tap the help of credit repair companies who promise to clear your records in no time. Of course, no company will offer this kind of amazing service for free. And these repair companies often charge you high rates that you have never imagined to shell out, but because your score if much more important, then you give in to the bait.

But what do these repair companies advice you in order to get the “brand new” credit report they promised you. They’ll simple advice you to change your name. For a variety of reasons, the court does approve petitions for changing a person’s name. Name changes are not really illegal. But this particular purpose for changing of name is not a permissible reason for justices. So you will have to fake the real reason and think of another one. And the repair company will help you think of foolproof alibis to get your petition approved. Once you have your new name, then you could go and apply for new credit.

But wait a second. Remember that you still have to have a new social security number before you can start applying for new credit lines and mortgages. You can be assured that the repair company will once again assist you in this illegal activity.

Imagine a brand new credit history. Starting from scratch, you get to build a better report. And you promise to maintain that status. Right after you built a new financial reference for lenders to consult, you assume you will be able to live normally again. But the nightmare is yet to come. Lenders are all aware about people who change their names to elude their liabilities and their bad financial standing before. They will investigate whether you were known in another name before.

People who encountered this scenario before will most likely deny their other identity before—without thinking that they may be imprisoned for lying about pertinent information about their identity. But if they do admit that their former identity, then they won’t get the mortgage or loan. The repair company milked thousands of dollars from you and you were left with a new name and but still with the same problem as before.

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