The FTC or Federal Trade Commission works on behalf of consumers throughout the United States for more than 90 years. They gather and publish consumer information to educate and inform them. They also investigate consumer complaints of fraud and unfair business practices.
The FTC says to be aware of credit repair companies that make claims they can't follow through. Fraudulent claims are illegal, like promising to repair your credit in a short period of time.
Any credit repair agency must use care in the claims that they make, just as any company in any industry must. A company operating under the name of the national credit repair agency was charged with "engaging in fraudulent credit repair activities" by the Federal Trade Commission released in 2003.
The national credit repair agency claimed they could remove any information from a consumers credit report with a sophisticated software system they owned. According to the FTC complaint, the agency did not have a special system and by making this and other false claims they were able to entice more than 183,000 consumers to spend more than $53 million on credit repair services.
Most times the information on your credit report is accurate and verified by the credit bureau. But if you believe you have found information on your report to be inaccurate or unverifiable, than you have a right to dispute it. A credit repair agency should not suggest that a consumer dispute information that is accurate.
All credit bureaus have thirty days to investigate the disputed information 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.
Some illegal methods include file segregation, making false statements on credit applications and using employer identification numbers. Run far away from any agency that would recommend any of these methods.
For more information about FTC investigations or to make a complaint against a specific company, visit their official website.
To repair your credit, your first step is to get your free credit report from each of the top three credit bureaus Equifax, Experian and TransUnion. You are entitled to a free report every twelve months under the The Fair Credit Reporting Act.
You can get your free report at annualcreditreport.com or call for it at 1-877-322-8228. Or write to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281.
It may take fifteen days or more if you order by phone or by mail. You can get it instantly if you order online.
The FTC says to be aware of credit repair companies that make claims they can't follow through. Fraudulent claims are illegal, like promising to repair your credit in a short period of time.
Any credit repair agency must use care in the claims that they make, just as any company in any industry must. A company operating under the name of the national credit repair agency was charged with "engaging in fraudulent credit repair activities" by the Federal Trade Commission released in 2003.
The national credit repair agency claimed they could remove any information from a consumers credit report with a sophisticated software system they owned. According to the FTC complaint, the agency did not have a special system and by making this and other false claims they were able to entice more than 183,000 consumers to spend more than $53 million on credit repair services.
Most times the information on your credit report is accurate and verified by the credit bureau. But if you believe you have found information on your report to be inaccurate or unverifiable, than you have a right to dispute it. A credit repair agency should not suggest that a consumer dispute information that is accurate.
All credit bureaus have thirty days to investigate the disputed information 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.
Some illegal methods include file segregation, making false statements on credit applications and using employer identification numbers. Run far away from any agency that would recommend any of these methods.
For more information about FTC investigations or to make a complaint against a specific company, visit their official website.
To repair your credit, your first step is to get your free credit report from each of the top three credit bureaus Equifax, Experian and TransUnion. You are entitled to a free report every twelve months under the The Fair Credit Reporting Act.
You can get your free report at annualcreditreport.com or call for it at 1-877-322-8228. Or write to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281.
It may take fifteen days or more if you order by phone or by mail. You can get it instantly if you order online.
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