One of the newer credit restoration schemes could end with you in jail. It may be called, among other things, "file segregation."

It may start by having a company contact you and offering to legally leave behind your credit problems--even a bankruptcy. With a lot of language about the "legal forms from the federal government" and your one-time "right" to apply for a "new Social Security number", these advertisements will do their best to convince you that their system is the best way to regain your credit history.

What they don't tell you is that this is considered fraud, and you will be considered the perpetrator rather than the victim. This is basically creating a new identity, and is how they will "restore" your credit. The real perpetrators of this crime often charge you a fee to get started, and then leave you once you have paid it. This won't improve your credit, and will most likely damage it further if you take part in it.

If you have been unlucky enough to have taken part in this scam and your credit score isn't where you want it to be, please take the time to enter your information in the form below to get started with your Free Credit Consultation.