Watch out for those scams!
There are many types of scams & schemes, such as:
- Identity Theft- the person takes your identity and uses your information to open new accounts.
- Loan Scam- You are required to pay a large fee in order to get a loan, but after you pay the fee you never get the loan
- Credit Repair Schemes- they say they can repair it but YOU CAN NOT REPAIR YOUR CREDIT HISTORY
- Collage Scam- You get an offer to learn "confidential" facts and get into a collage easily but really you can easily find all the information online.
- Pyramid Scheme- Participants receive payment for recruiting more participants
- Payday Loan- allows a person to get cash before they get their paycheck with no credit check.
- Rent-To Own- Companies who rent and sell things charge more money than its usually worth
Be sure to stay away from all of these as much as possible they can ruin a lot of things and mess up your credit.