Millions of Americans are being faced with foreclosures and intense credit card debt. If you are drowning in debt there is a way out of it. You can still build your credit and get back to where you want to be.

Scam artists are always going to be around. Don’t get caught up in their lies. There are a lot of credit restoration companies that can promise you things that seem too good to be true. They boast that they can turn your credit score around in a short amount of time.

While we completely understand why this option is attractive to you, the truth is that these are scams. These companies are scamming you, or worse – performing illegal services. A good rule of thumb to remember is that if it sounds too good to be true, it probably is.

These are common lines that are used with scam artists in the industry. “We promise we will increase your credit score in 30 days or less!” “We guarantee your bad credit will be erased!” “We will take all bankruptcies, judgements, liens, etc off of your credit file within 30 days!”

“We “work with” specialized credit restoration companies that can …” “We will create a new identity for you – LEGALLY!” These lines are in almost all cases given by dishonest credit restoration companies.

In most cases, once you get in contact with the credit restoration company they want you to pay for their services before they even do anything. Or they do not offer free consultations to tell you what your legal rights are or what options you have to repair your credit on your own. These are obvious scams, since it is illegal for a company to charge you for services until they have completed their part of the bargain. (Credit restoration Organization Act).

For companies that are promising to create a new identity, they can do it in a few different ways. Normally they ask to apply for an Employer Identification Number (EIN) instead of applying for a new Social Security Number (SSN). Let me be clear on this – this is illegal. It is a federal crime to falsify any statements on a credit or loan application!

Be smart. Don’t fall victim to these types of credit restoration scams. Repairing credit will take a lot of hard work and effort, but it is well worth it. Don’t get caught up with false promises or quick-fix offers.

At Nitro Credit, we specialize in credit repair, credit help, improving your credit score, and credit restoration. We will help you start over and help increase your FICO score.