Rate of DisputingĪ final sign a credit sweep service might be illegitimate is if they are claiming to remove a large portion of your report entries at once. A more realistic time frame can be anywhere from six weeks to over a year. Of course, the repair time frame is dependent on the type and number of items to be disputed, but no legitimate credit service can promise results within 30 days. Think about whether credit sweep/repair services could get results in a shorter time without illegal methods. Note that the credit bureaus operate on 30 to 45 day billing cycles, at the end of which credit scores are updated. Therefore, it should take months, not weeks. The legitimate process of disputing entries on your report goes back and forth between your credit sweep service and the bureaus. Paying attention to the time frame specified by a credit service is also a great way to spot illegal credit sweep scams. Think about whether a professional service achieving results in weeks and saving you hundreds of thousands of dollars in the process seems like a probable reality. Finally, use your common sense to determine the feasibility of these claims. A good example of what to look out for is if they try to differentiate between two terms that mean the same thing. Pay attention to how the offers are worded, and if their claims make sense. Also worth noting is the language used to describe the services offered. For example, if words are capitalized and spaced seemingly at random, then that website would seem illegitimate under the lack of effort put into it. Websites And PromisesĪnother method of spotting an illegal credit sweep is to pay attention to the professionalism of websites advertising credit sweeps/repair and the claims they make. Knowing the CROA and the best credit repair strategies are imperative in spotting credit sweeping scams. If they are already disregarding one aspect of the Act, they are probably disregarding the whole thing. As a result, any company that provides a guarantee is one you should immediately be wary of. The CROA also prevents credit repair companies from making guarantees. Moreover, they may not inform you that you have the right to repair your credit yourself. Unfortunately, some scam artists disregard the Act, asking for payment before any services are rendered. Legally, credit repair companies cannot ask for payment upfront. Many do not realize that the Credit Repair Organizations Act protects consumers from scammers. However, filing a false police report is illegal by itself, so you would be committing multiple crimes to file a credit sweep. People tend to fall for this scam because it provides the fastest turnaround for their credit scores. Many illegitimate credit companies will go as far as to file false claims and police reports of identity theft because it makes the disputing process so much easier. However, a police report is needed for this process. This is because the report entries resulting from the theft can be disputed all at once. One of the most common credit sweep scams involves fraudulently claiming that you have been a victim of identity theft. Here are the major warning signs a credit sweep is not legal. If you submit any false or fake information, there could be severe legal consequences. Many people fall victim to credit repair scams. As a professional trying to improve your credit, you should be very careful with this decision. This leads to a lot of confusion about the legality of performing credit sweeps yourself or though a third party. In fact, there are many scams that sell a “quick fix” for your credit. Credit sweeps are an aggressive and rapid option to fix poor credit.
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