Scam number 1
Credit Card Fraud:
The Bait
Surf the Internet and view pages for free, just for sharing my credit card
number to prove I am over 18.
The Catch
Fraudulent promoters use my credit card numbers to run up charges on MY cards.
The safety Net
I share credit card information only when I buy from a company I trust. I
dispute unauthorized charges on my credit card bill by complaining to the bank
that issued the card. Federal law limits my liability to $50.
This topic is like stolen identity. If I feel this has happened, I do 2 things.
Send in a letter like this one and get a Credit Monitoring Service. For more
information, click here. The letter will be placed on my report and I will be
contacted on before new lines of credit are opened or charged.
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Scam number 2
Guaranteed Loans or Credit, On Easy Terms
Some offer home-equity loans,
even if I don’t have any equity in my home. Others offer guaranteed, unsecured
credit cards, regardless of my credit history. The "loans" turn out to be lists
of lending institutions and the credit cards never arrive.
Don't be fooled folks by all the bull on the net.
IN FACT almost all e-mail received UNSOLICITED is a SCAM. Don't fall for them
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Scam number 3
Get a new credit identity or credit history
Do not be fooled or tricked into buying a new credit file when
I say it is illegal.
If I have filed for bankruptcy,
I may be the target of a new credit
repair scheme, often called
"file segregation." In this scheme, I am promised
I can
hide bad credit by establishing a new credit
identity.
The problem is, "file
segregation" is illegal.
If I use it, you I could face
fines or even prison.
The Pitch: If I have
filed for bankruptcy, I might receive a letter from a
credit
repair company that warns me about my inability to get credit
cards,
personal loans, or any other types of credit for ten years.
For a fee, the company promises says they will help me hide my bankruptcy
and establish a new credit
identity you can use when applying for
credit.
If
I pay the fee and sign up for
the service, I might be
directed to apply for an Employer Identification Number (EIN) from
the Internal Revenue Service (IRS). Typically, EINs -- which
resemble
social security numbers -- are used by businesses to
report financial information
to the IRS and the Social Security
Administration.
DON'T mess with the I R S. Dad Gum!
Claim 1:
I will not be able to get credit for 10 years (the period of
time
bankruptcy information can stay on my credit record). This is
totally false. 13's have to wait until discharge and 7,s are discharged
immediately. Many banks will work with me in less than 2 years and some
right away on 7,s
Claim 2:
The company or "file segregation" program is affiliated with the
federal
government. The federal government does not support or
work with companies
offering such programs.
Claim 3:
The "file segregation" program is legal. It is a federal crime to
make
any false statements on a loan or credit application, which
the credit repair
company may advise me to do. It is a federal
crime to misrepresent my social
security number. It also is a
federal crime to obtain an EIN from the IRS under
false pretenses.
Further, you could be charged with mail or wire fraud if you
use
the mail or the telephone to apply for credit and provide false
information.
Also, file segregation would likely constitute civil
fraud under many state laws.
Remember Al Capone?
If I receive a letter
from a company making such claims, I contact my state attorney
general or consumer protection office.
I also file a complaint
with the FTC.
Write:
Correspondence Branch, Federal Trade Commission, Washington, D.C.
20580.
While the FTC does not handle individual cases, it can act
against
companies when it sees a pattern of possible law
violations developing.
Other FTC Brochures
For more information about credit
reports, I can order these free FTC
brochures:
Building a Better Credit Record,
Credit Repair Scams,
Fair Credit Reporting,
Fix You Own Credit Problems and Save Money,
Scoring for Credit,
Solving Credit Problems, and
Women and Credit Histories.
Write: Public Reference, Federal Trade Commission,
Washington, D.C. 20580.
Facts for Consumers from the Federal Trade
Commission -----
Brought to you by - The 'Lectric
Law Library The Net's Finest Legal
Resource For Legal Pros &
Laypeople Alike.
http://www.lectlaw.com
Article on the scam. Click below.
http://www.ftc.gov/bcp/conline/pubs/credit/creditid.htm
--------------------------------
My right by laws
Fair Credit reporting act
Below is an overview of the FCRA
I must be told if information in my file has been used against me.
I can find out what is in your file
I can dispute inaccurate information
Incorrect information must be corrected
I can dispute inaccurate info with the source
Out dated info must be removed
Access to my files is limited
My consent is required
I may ask to exclude my name from outside offers based on my credit score
I may may seek damages from violators
These agencies enforce the FCRA
FTC 877-ftc-help ...... CRA's
OCCA 800-613-6743 ...... National Banks
Federal Reserve 202-452-3693 ........F ederal reserve memebers
Thrift 800-842-6929 ...... Savings' Banks
NCUA 703-518-6360 ....... Fed Credit Unions
FDIC 877-275-3342 ........ State Banks
DOT 202-366-1306 ........ Air, Rail, Carriers
DOA 202-720-7051 ...... Packers and Stockyards
Identity Theft 877-id-THEFT......ID theft
-----------------------
These are the best credit help offers I can find that I trust and use.
Get
all 3 totally free credit reports and scores
I use this one. Best offer for
quick comprehensive credit checks.
Unlimited
3
bureau credit reports & 3 scores for 14.95 per month
The best for fixing credit, monitoring for fraud, and ID theft over a
period of time.
Get
new good credit totally free
I must have at least 3 open rated lines of credit. These cards
report to bureaus.
Hire a Lawyer to do all the
work
Knee
deep in debt solutions
