Credit repair scams and mortgage assistance scams is growing problem for individual and the federal regulatory authorities. The best way for individuals to tackle credit repair scams is to report misconduct including any promises or demands that are not legal credit repair practices to the appropriate authorities. The FTC enforces credit report and credit repair regulations but it does not investigate individual claims against a company, however they will investigate a company for legal … [Read more...]
The Federal Credit Repair Organizations Act – Full Text
February 2, 2010 By Leave a Comment
The Federal Credit Repair Organizations Act prohibits a variety of false and misleading statements, as well as fraud by credit repair organizations. The Federal Trade Commission as well as the individual states, enforces The Federal Credit Repair Organizations Act. The Federal Trade Commission’s Bureau of Consumer Protection works for the consumer to prevent fraud, deception, and unfair business practices in the marketplace. This federal government department protects consumers from … [Read more...]
Credit Counseling Agency Cautions
January 28, 2010 By Leave a Comment
Using a reputable credit counseling organization can help some consumers get back on track with their financial obligations and help manage their budget better. Better financial management of existing debts will certainly help improve an individual’s credit history and credit score. But, credit counseling services are often not the solution they are advertised to be. Credit counselors should provide advice to consumers regarding managing money and debts, help develop a workable budget, … [Read more...]
Handling Credit and Credit Score Problems
November 2, 2009 By Leave a Comment
Credit has become an almost indispensable tool in our society. Almost everyone uses some form of credit whether it is in the form of credit cards, car loans or mortgages. Credit allows us to purchase goods and services by paying for them later which can be very convenient to buy big ticket items or stretch our monthly budget. But credit can cause money problems if not managed wisely. Money problems are often the immediate result of too much debt with unmanageable monthly payments. … [Read more...]
Credit Score Help and Non Profit Debt Consolidation Programs
September 25, 2009 By Leave a Comment
For some individuals, trying to improve their credit score and credit history can be a difficult task. Often the problem of improving a credit score is that the cause of the problem or low credit score has not be fixed. For these individuals, fixing the cause of the delinquent debt and bills, which is the predominant factor used to calculate a credit score is the number one issue to address. The delinquent debt payments are often the result of a mismatched budget. One of the best … [Read more...]
What You Need to Know About Credit Counselors
June 13, 2009 By Leave a Comment
Credit counseling organizations are designed for people who are so far in debt that they are facing bankruptcy. This is an important distinction. If you find yourself with poor credit and a poor credit score but are not drowning in debt, what a counselor will suggest is what you already know: be disciplined to create a workable budget and stick to it while you work out repayment plans for any creditor with which you are in arrears. Now if you have tried to do this with little success you … [Read more...]
Credit Repair Scams
June 12, 2009 By Leave a Comment
When a person falls behind on their debt, things can be overwhelming. They may be laden down with harassing calls from debt collectors. Or worse, they might even have to go to court because a creditor, fed up with not getting their money, decided to take legal action. A person’s difficulties with debt are even more exacerbated if they are trying to buy or rent a house because of their bad credit report and credit scores. For all of these reasons many will be tempted to turn to credit … [Read more...]