What does the FTC (Federal Trade Commission) say about credit repair?
The FTC has concerns due to unethical individuals posing as legitimate credit repair companies. These bogus companies thrive on the internet or via telemarketing and often make promises they have no intention to keep. They often charge hefty up-front fees and encourage consumers to use unethical and even illegal tactics to clean their credit reports. Some signs a company is is not legitimate include: • Not providing a complete address • Not providing a verifiable identity • Demanding large fees in advance of services • Guaranteeing credit report results • Guaranteeing the ability to remove bankruptcies • Suggesting illegal tactics such as applying for a new Social Security number, or reporting false data Illegal tactics such as these can subject you to personal liability. But remember, it is your legal right to dispute inaccuracies on your credit report. Deal only with companies that are up-front about their fees and willingly share information with you. Be wary of any credit restorati
