Trying to Find a Legitimate Credit Repair Company
The Federal Trade Commission (FTC) enforces consumer protection law and has the responsibility of protecting consumers from unscrupulous companies that unfairly garner our business through false claims and, quite simply, by breaking the law. With regards to shady credit repair clinics, practices like these became so pervasive that a federal law was passed to clearly outline how credit repair organizations can operate. The Credit Repair Organization Act (CROA) was passed to protect consumers and provide them with recourse if they are victimized by a dishonest credit repair provider.
When researching credit repair companies, there are some key indicators alerting you to steer clear. According to the Federal Trade Commission, avoid credit repair services that:
Accept Payment Before Credit Repair Services are Performed – Credit repair companies should not request payment prior to services being rendered. Under the CROA, these credit repair companies cannot require payment until after they have completed the services promised. This is to protect people from companies that take large upfront payments and then do not perform the agreed upon work.
