Outsourcing Credit Repair – The Questions You’ve Been Asking.
Posted on September 18th, 2007 by Marc Chase Posted in Credit Repair | 15 CommentsWe’ve received several emails regarding these two posts and I think it’s something important to elaborate on.
http://www.mycreditgroup.com/blog/credit-repair-scams-part2/
http://www.mycreditgroup.com/blog/credit-repair-scams-2/
The question we are getting asked is this.
“With so many U.S. companies outsourcing to places like India lately, why is it so bad outsourcing credit repair?”
I’ll tell you why it’s a terrible practice and if you are considering hiring a credit repair company - you BETTER ask them if any part of their service is outsourced.
Let’s take Nicaragua for example: Since the patriot act it’s increasingly difficult for citizens of Nicaragua (both good and bad) or terrorists for that matter to get into the U.S. Obviously, giving them your credit report is all they need to take your identity and waltz right in posing as you and tearing your life to shreds.
In the end you could be answering a lot of questions to homeland security and be in a much, much worse position then when you started all because you hired irresponsible idiots to fix your credit.
Now, I’m not saying I have anything against Nicaragua, or the people of Nicaragua. But in this day and age and being in an industry that deals directly with Identity theft issues it’s just a stupid, irresponsible thing to do.
Are there people actually dumb enough to do this, yes there are I guarantee it!
Protecting yourself from a company that does this is simple. Point blank ask them if they outsource any part of their service.
Be very adamant about an answer and if they do, I would drop them like a bad habit. If they dare lie to you about it, they could be in very big trouble.
People this is a serious matter and you need to investigate any company you’re going to trust your credit with. Whether you choose us, or another credit repair company, please ask them a lot of questions.
Remember, if you’re with another company and aren’t satisfied with the answers you’re getting, we’ll be glad to help you completely free of charge.
I’m in the mortgage business and until recently have referred my clients (those applying for loans) to a different credit repair company.
Are you saying that the clients I sent them could have their credit reports sitting in Nicaragua?
If something happened to their personal information could I be liable?
I think that would be a question for our Attorney’s, but it’s certainly not a good thing.
Correction, you can guarantee that your credit report will NOT be sitting on a desk in the middle of nicaragua…
Outsourcing to Nicaragua without the consumers conscent is dancing on illegal.
I would report anybody doing this to authorities
I agree with this article because it’s right.
PFC Barnes,
Im Assuming you’re military? I can see outsourcing your credit files to places like that could be especially dangerous due to your security clearence.
That is a nasty practice and the people doing it should be shut down if they dont change their ways.
Aren’t there laws governing credit repair companies? I’ve just started reading about it on different web pages and it seems it’s a shady industry
Hi Deana,
To answer your question..yes there are laws, very strict laws. The problem is that some people ignore the them.
Some people have become so desperate they’ve pretended to be the law.
I cannot believe somebody would be stupid enough to send our credit reports overseas like that.
I mean…STUPID STUPID STUPID
who is it?
Is it better to work with a local company where you can actully go into an office and talk face to face?
Well, in a perfect world sure, that would be best. However, its not necessarily realistic always. There are a couple web based companies that do a fine job (and millions that should be shut down)
IN the case of outsourcing to Nicaragua, I would just make sure I ask any company point blank
“do you outsource any part of this process at all”
I cant tell you how dangerous that is. Again, listen to your instincts, ask lots of questions and check the BBB
Many companies are witless in their pursuit of cheaper costs. I know of one VERY big financial company that outsources a lot of work to India. If you wanted to undermine Western companies all you’d have to do is get some agents into popular offshore data processing service centres.
There was a scandal here in the UK about an employee of one such selling customer’s bank details to anyone with the price of them. Dreadful.
Hi Tom and thank you for your input. Witless is an understatement. There is also a little credit repair company here (Um, well thats what they call themselves anyway) that sends all client reports to Nicaragua.
That is just so incredibly stupid. I can see if they were manufacturing toys or something - thats different. But Credit Reports?
Ha ha, all you’d need to do is hang around where the employees relax, get friendly with a few, find one disgruntled one, offer him a fat bribe, and get a million dollars worth of contacts for a few grand.
Tom - Excellent Point!
Loan officers - Read Toms last comment and ask yourself this question.
What will it to do your career if you send your loan clients to a credit repair company and then something happens like Tom Just mentioned??????
IF YOU SEND YOUR CLIENTS TO A CREDIT REPAIR COMPANY, MAKE SURE YOU ASK IF THEY OUTSOURCE ANY PART OF IT. IF THEY DO, YOU BETTER RUN!