Fraud Education Learn How to Fight Fraud
Fraud scams are more sophisticated than ever, so it's important to educate yourself on how to stay safe with technology. Explore the information below, and remember, stay alert!
Credit Repair Fraud
If your credit score needs some work, it's tempting to look for a quick fix. Unfortunately, credit repair fraud is common, and scammers often target people who feel financially stressed. Understanding how these scams work can help you avoid losing money or damaging your credit further.
Credit repair fraud typically involves companies promising to erase negative marks, raise your score overnight or create a "new identity" using a different credit profile number. These promises are not only unrealistic, they're illegal.
Red flags to watch for:
Guarantees of a specific score increase or removal of accurate negative information
Requests for payment before any services are performed
Advice to dispute accurate information or create a new credit identity
Pressure to act quickly or sign up on the spot
Ways to protect yourself:
Research any company through the Better Business Bureau and your state attorney general's office
Remember that legitimate credit repair cannot remove accurate, up-to-date negative information
Avoid paying upfront fees, which are illegal under federal law for credit repair services
Consider working directly with creditors or a nonprofit credit counseling agency instead
Review your credit reports yourself through AnnualCreditReport.com before paying anyone
If you're unsure whether an offer sounds legitimate, it's worth checking your credit reports directly and disputing any errors on your own first, since this is free and often resolves issues without outside help.
Credit repair takes time, but building it the right way protects both your wallet and your financial future.
Learn more about credit repair scams here: https://efraudprevention.net/home/education/?a=200
Important Notice
Disclosure
You are exiting Founders Federal Credit Union's website. When you click Continue, you will be transferred to a website not operated by your credit union. Founders Federal Credit Union is not responsible for the content or any links to or from this alternate website. Founders does not represent the third party or the member, should they enter into any agreements; and makes no representations or warranties regarding the products or services of the third party. Also, the privacy and security policies of the third party may be different from those of Founders Federal Credit Union.
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