Credit Repair Cannot Be Done in a Snap
According to Kenneth Harney in his most recent column, he studied and explored the services which promise that they could erase the information that damages your credit score. Although this might sound tempting for most, everyone should be on the look out as they might eventually be discovered as scams.
In his examination, he dwelled on the subject of two credit repair services, how they operated, what offenses have they done, and what penalties did they get from the Federal Trade Commission. A company named Successful Credit Service is one of the two. It promised to fabricate one's credit history to take out any negative information. It was actually pricey to buy their service as it costs from about $3000 to $4000. They get their clients from seminars in places around the country. This is illegal as per the FTC because of the money that they ask from the clients, and more importantly, the fabrication of credit data.
What makes matters worse is that Successful Credit Service fooled their clients and customers by not doing that they have promised. They were not able to deliver what they were claiming. The clients' credit history remained as is and the negative information was still retained. Despite paying for that large amount of money, these hopeful clients were not able to get their money's worth. These people were just expecting that these online credit repair help companies would make life easier for them. They were able to follow every instruction in the online credit repair help guide provided and yet, they didn't get their money back. Due to this scam and the harm they inflicted upon their clients, the Federal Trade Commission gave them a penalty of $8.3 million. Nevertheless, because they have been bankrupt and put out of service, they would not be able to pay for the amount with their assets. They would also stop this dishonorable practice as their penalty.
Published by Irene Miller
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1 Comments
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