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Credit repair and debt relief scams

Companies that charge upfront fees to "erase" bad credit or sell you a new "credit identity" (CPN) are breaking the law. Real help is free or low cost through nonprofit counseling.

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  • They ask for payment before they have done any work for you
  • They promise to remove accurate negative information or "erase" your credit history
  • They offer a "new credit identity," a CPN, or a different number to use instead of your SSN or ITIN
  • They tell you not to contact the credit bureaus or your creditors yourself
  • They guarantee a specific credit score or that all your debt will disappear
  • They will not give you a written contract explaining your rights and your right to cancel

Kisa pou fè

  1. 1.Get your free credit reports at annualcreditreport.com and dispute errors yourself, for free
  2. 2.Look for a nonprofit credit counselor approved by the U.S. Department of Justice or affiliated with the NFCC
  3. 3.Never use a CPN or any number that is not your own SSN or ITIN on a credit application
  4. 4.If a company took upfront fees or lied to you, report it to the FTC and your state attorney general

If your credit has taken some hits, you have probably seen the ads: “Bad credit? Erased in 30 days!” or “Get a fresh start with a new credit number!” They sound like a shortcut. Most of them are a trap.

How it works

The most common version is simple. A company charges you a fee upfront, sometimes hundreds of dollars, and promises to clean up your credit report. Then they either do nothing, or they send the credit bureaus the same dispute letters you could send yourself for free. Accurate negative information cannot be removed by anyone, no matter what they promise. It falls off on its own, usually after seven years.

A federal law called the Credit Repair Organizations Act makes it illegal for a credit repair company to charge you before it has finished the work it promised. It also requires a written contract and gives you three days to cancel. A company that ignores these rules is already breaking the law.

A more dangerous version sells you a “credit privacy number” or CPN. They say it is a fresh nine-digit number you can use instead of your Social Security number or ITIN to apply for credit. In reality, CPNs are often stolen Social Security numbers, sometimes belonging to children. Using one on a credit application is identity fraud, and it can put you in legal trouble even if you did not know.

Debt relief scams work similarly. They tell you to stop paying your creditors and send money to them instead, promising to settle everything. Meanwhile, late fees pile up and your score gets worse.

Real help looks different. Nonprofit credit counselors review your budget, explain your options, and may set up a payment plan with your creditors. The first session is usually free.

Why it targets families like yours

Building credit in a new country is slow, and many families start with a thin file or an ITIN instead of an SSN. Scammers know that a family working toward a car, an apartment, or a first home will be tempted by a promise to skip the wait. Wanting a fair shot at credit is reasonable. The shortcut just is not real.

The simple rule

Anyone who asks for money before fixing your credit, or offers you a new number to use, is offering something that is either useless or illegal.

Your credit can improve. It takes on-time payments, low balances, and patience, and there are free tools and counselors to help you along the way.

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