Released: October 17, 2009

Beware fast credit fixes

Source: Kenneth R. Harney, Los Angeles Times (Free Registration)

With Americans’ credit scores plunging amid record numbers of mortgage and credit card delinquencies, companies that promise to eliminate negative information in credit bureaus’ files are proliferating, federal regulators say.

The pitches from these firms are especially attractive to home buyers and mortgage applicants because they offer a way to raise credit scores enough to get loan applications accepted, and even qualify for lower interest rates.

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