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Recommendations for clearing your credit.

Everyday, companies target consumers who have poor credit histories with promises to clean up their credit report so they can get a car loan, a home mortgage, insurance, or even a job once they pay them a fee for the service. The truth is, these companies can't deliver an improved credit report for you using the tactics they promote. It's illegal: No one can remove accurate negative information from your credit report. So after you pay them hundreds or thousands of dollars in fees, you're left with the same credit report and someone else has your money.

If you see a credit repair offer, here's how to tell if the company behind it is up to no good:

1. The company wants you to pay for credit repair services before they provide any services. Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed the services they have promised.
2. The company doesn't tell you your rights and what you can do for yourself for free.
3. The company recommends that you do not contact any of the three major national credit reporting companies directly.
4. The company tells you they can get rid of most or all the negative credit information in your credit report, even if that information is accurate and current.
5. The company suggests that you try to invent a "new credit identity" and then, a new credit report by applying for an Employer Identification Number to use instead of your Social Security number.
6. The company advises you to dispute all the information in your credit report, regardless of its accuracy or timeliness.

If you follow illegal advice and commit fraud, you may find yourself in legal hot water, too: It's a federal crime to lie on a loan or credit application, to misrepresent your Social Security number, and to obtain an Employer Identification Number from the Internal Revenue Service under false pretenses. You could be charged and prosecuted for mail or wire fraud if you use the mail, telephone, or Internet to apply for credit and provide false information.