Collection Agencies Across The Nation Have A New Tactic
They are Offering to remove the Negative Tradeline they put on your Credit Report , Illegally, and replace it with a new Credit Building Tradeline under their company name. Zero percent interest, with whatever down payment and payment you want. Sound too good to be true? There is a Company in New Jersey doing this. They open a sister company to do the financing, as it’s ILLEGAL for them to do #creditrepair and run a #collection agency at the same time. They publish the Tradeline with a very NEGATIVE title, which they will never tell you till you see it on your credit report, they get you into a new loan in their state, which also restarts the Statue of Limitations, [the amount of time they can sue you] , and it restarts the Seven year reporting period with the Credit Bureaus.
This is pure thievery
It’s pure darkness
The Original Creditor Tradeline will still be on your Credit Report, if they reported your debt as well.
I don’t know how I’m going to get this information to Consumers, but I have to start somewhere.
I’m concerned for the future of the stepped up darkness.