The FTC or Federal Trade Commission investigates consumer complaints of fraud and unfair business practices throughout the US for more than 90 years. They also inform and educate the consumer with published information on credit repair and credit repair agencies.
Some credit repair agencies have been charged with making fraudulent claims and you should be aware of this. Some companies might claim to repair your credit in a short period of time and the FTC says this is illegal.
Every company in business must use care in their claims they make and so it is with credit repair agencies as well. The Federal Trade Commission charged a company under the name of the national credit repair agency with "engaging in fraudulent credit repair activities" in 2003.
This credit agency claimed to consumers that they could remove any information from their credit report with a unique and sophisticated software system that they had. According to the FTC complaint, they did not have this special system, but by making this claim they were able to entice more than 183,000 consumers to spend a large amount of money, in the tune of $53 million on credit repair services!
Most credit reports are accurate and verified by the credit bureau but mistakes can happen. But as a consumer you have a right to dispute any inaccurate or unverifiable information and no agency should suggest you dispute information that is accurate.
Credit bureaus know that they have thirty days to investigate the disputed information that you have.
The FTC advises that you associate with a law firm when you decide to get credit repair help. A reputable law firm will know of many legal methods to use that will get you on your way to a better credit score.
Companies with fraudulent intent will use illegal methods like using employer identification numbers, making false statements on credit applications and file segregation. Be a wise consumer and steer clear of these agencies.
For more information about FTC investigations or to make a complaint against a specific company, visit their official website.
Your first step is to get your free credit report that you are entitled to, under The Fair Credit Reporting Act. You can get one free every twelve months from each of the top three credit bureaus Equifax, Experian and TransUnion.
Get your report on the website or call the toll free number 1-877-322-8228. The address is Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281 to send in your request.
You will receive it much faster if you order it online. It will take fifteen days or even more if you phone in or order by mail.
Some credit repair agencies have been charged with making fraudulent claims and you should be aware of this. Some companies might claim to repair your credit in a short period of time and the FTC says this is illegal.
Every company in business must use care in their claims they make and so it is with credit repair agencies as well. The Federal Trade Commission charged a company under the name of the national credit repair agency with "engaging in fraudulent credit repair activities" in 2003.
This credit agency claimed to consumers that they could remove any information from their credit report with a unique and sophisticated software system that they had. According to the FTC complaint, they did not have this special system, but by making this claim they were able to entice more than 183,000 consumers to spend a large amount of money, in the tune of $53 million on credit repair services!
Most credit reports are accurate and verified by the credit bureau but mistakes can happen. But as a consumer you have a right to dispute any inaccurate or unverifiable information and no agency should suggest you dispute information that is accurate.
Credit bureaus know that they have thirty days to investigate the disputed information that you have.
The FTC advises that you associate with a law firm when you decide to get credit repair help. A reputable law firm will know of many legal methods to use that will get you on your way to a better credit score.
Companies with fraudulent intent will use illegal methods like using employer identification numbers, making false statements on credit applications and file segregation. Be a wise consumer and steer clear of these agencies.
For more information about FTC investigations or to make a complaint against a specific company, visit their official website.
Your first step is to get your free credit report that you are entitled to, under The Fair Credit Reporting Act. You can get one free every twelve months from each of the top three credit bureaus Equifax, Experian and TransUnion.
Get your report on the website or call the toll free number 1-877-322-8228. The address is Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281 to send in your request.
You will receive it much faster if you order it online. It will take fifteen days or even more if you phone in or order by mail.
About the Author:
Click the link titled: repair your credit score right here: repair your credit score to learn more.
0 comments:
Post a Comment