A warning to credit repair organizations

Pssst…..thought you might want to know that the Credit Repair Organizations Act prohibits a credit repair company from making false and misleading claims and for billing in advance for its services.  A federal judge has ruled against a bogus credit repair company (ftc.gov/opa/2006/06/badcreditbgone.htm) for just that.  Bad Credit B Gone, LLC and Joseph A. Grazziola III have been ordered to pay more than $322,000 for violations of the CROA.

This should serve as a strong warning to all credit repair companies who guarantee the removal of accurate and timely information on a credit report.  This should also serve as a warning to any credit repair organization that charges an advance payment for their credit repair services.  Will this one ruling be enough to discourage unscrupulous credit repair companies?  Probably not; but, at least we take comfort knowing that BrokenCredit.com is educating consumers one by one with the tools they need to affect credit improvement on their own and enabling them to avoid shady credit repair companies. 

By the way, there is ONE GUARANTEE that we make to consumers here and that is…..

Information on the BrokenCredit.com site will always be FREE.