There are many different scams that people with less than perfect credit fall victim to each and every day.
I want to share with you some that we at Auto Credit Express feel are worth mentioning.
As our economy moves forward and gets stronger once again there are still many people that will lose their jobs in certain markets at any given moment.
As a result of job loss, credit card bills sometimes get neglected and other payments are generally known to get overlooked when money is short.
As we all know, if you miss enough payments, this will be reported to the credit bureau and your credit score will significantly decrease.
When your credit score drops, you may become a target for con artists that attempt to take advantage of people in dire situations.
Consolidating your credit card payments into one lump sum generally is a convenience; always remember to research the company offering this service.
Be aware of any red flags, especially when a company demands a large up front payment before they can help you.
Most upfront fees are the first sign of a scam, so make sure the company you chose is affiliated with the Better Business Bureau.
Here's another scam. It is very common that the bank you do business with is part of a larger financial institution.
If these financial institutions merge, a mailer is sent to your address to notify of this change.
Scammers will do the same, but they like to target people via the internet.
Instead of sending a hard copy to your mailing address, they'll send you an email that appears to be authentic, right down to the bank's official logo.
To prevent identity theft, never respond to any bank's email requesting your personal information.
No legitimate bank would ever ask for your personal information in this manner.
All these scams and more target people with less than perfect credit, often because they'll promote an easy fix to your bad credit situation.
For more information about scams and other tips on repairing bad credit, please visit AutoCreditExpress.com