Source Article from FTC Website:
The Federal Trade Commission (FTC) is reacting to thousands of complaints across the country by consumers about credit repair companies. As a result, the FTC (along with 24 state agencies in 22 states) launched Operation Clean Sweep.
The FTC is charging 33 companies with violating the FTC Act and the Credit Repair Organizations Act (CROA). The FTC states that these companies made false claims they could remove accurate information from their credit reports. The agency also alleged that the defendants violated the CROA by charging an advance fee for credit repair services.
Here is the list of 33 companies that are being charged with violating the CROA.
Advantage Credit Repair, LLC
Nationwide Credit Services, Inc.
Clean Credit Report Services, Inc.
Successful Credit Service Corporation
Hargrave & Associates Financial Solutions
American Credit Experts
RCA Credit Services, LLC
Good Credit Company
Payneless Credit Repair, LLC
Lee Harrison Credit Restoration
Sherrye Mance and Tiffany Morris
Absolute/Advanced Credit Services
Credit Advisors
Executive Financial Credit Services
Federal Debt Relief Systems
Financial Link Services
7 Steps to a 720 Credit Score - NOT THE 720 CREDIT GURU!!!
Integrity Credit Fix, Inc.
My Purchase Power, LLC
Enterprise Technology Group, Inc. doing business as Ameritrust Financial Card
New Leaf Associates, LLC
Financial Freedom Resources, Inc.
American Credit
Credit Counseling of the First Coast
United Credit Adjusters, Inc.
i3 Solutions
Warren and Associates
Bigger & Better Business Solutions
Affordable Computer Mobile Repair
Clean Credit Report Services, Inc.
Life Changing Credit Repair Services
The Credit Physician
Creditmax Financial, LLC
Operation Clean Sweep also includes three FTC cases announced earlier this year: Home Buyers Consulting Network, Inc., Payneless Credit Repair, LLC, and Lee Harrison Credit Restoration.
How can you avoid turning credit repair into credit despair? Here are a few suggestions from the FTC:
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.
If you follow illegal advice and commit fraud, you also may be subject to prosecution.
BACK TO CREDIT RESTORATION ASSOCIATES WEBSITE:
Back to the CRA blog homepage:
About CRA:
CRA Resources:
Auto F&I Manager blog:
No comments:
Post a Comment