Sadly, fraudulent credit repair companies are everywhere.
The Federal Trade Commission (FTC) is the agency responsible for enforcing consumer laws
in the United States. As such, they offer the following advice to consumers so they can
better protect themselves from companies that engage in deceptive practices.
The Federal Trade Commission (FTC) is the agency responsible for enforcing consumer laws
in the United States. As such, they offer the following advice to consumers so they can
better protect themselves from companies that engage in deceptive practices.
| Some facts that you should know before you hire a credit repair agency |
Avoid any company that wants you to pay for credit repair services before they provide
any services. It is against the law.
Avoid any credit repair company that will not tell you your legal rights and what you can
do, yourself, for free.
Avoid any credit repair company that tells you not to contact a credit reporting company
directly.
Avoid any credit repair company that advises you to dispute all of the information in
your credit report.
Avoid any company that suggests creating a “new” credit identity – and then, a new
credit report – by applying for an Employer Identification Number to use instead of your
Social Security number. That is against the law.
any services. It is against the law.
Avoid any credit repair company that will not tell you your legal rights and what you can
do, yourself, for free.
Avoid any credit repair company that tells you not to contact a credit reporting company
directly.
Avoid any credit repair company that advises you to dispute all of the information in
your credit report.
Avoid any company that suggests creating a “new” credit identity – and then, a new
credit report – by applying for an Employer Identification Number to use instead of your
Social Security number. That is against the law.
| If you follow illegal advice and commit fraud, you also may be subject to prosecution. |
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