All Credit Repair Companies Are Not Created Equal

==== ====Repair your credit and raise your credit score today! Check out these credit repair reviews tochoose the right program to repair your credit today. Click here:http://credit-repair.96-brilliant-clever-essays.com==== ====In years past, the credit repair industry was tainted by fly by night clinics and other credit fixingscams. Despite the need that many people had to get help with repairing their credit, it was hard tofind a company they could trust.Today, the credit repair industry has matured thanks to increased awareness and federalregulation. The keystone of this regulation is the Credit Repair Organizations Act, also known asCROA. Recognizing the value of professional services, Congress enacted CROA in order todefine appropriate actions of a legitimate organization and to outlaw many of the practices typicalof a fraudulent credit repair clinic.While there are still some fraudulent organizations trying to take your money, by understanding thebasic ideas of CROA, you can easily identify these scams and make sure you avoid them.Knowing what things credit repair companies are and are not able to do, will keep you frombecoming a victim.Below are three key points of CROA and what they mean to you as you are shopping for a creditrepair company.1) Credit repair organizations cannot charge fees for services before they are renderedMost credit repair scams start off the same way. You are required to pay a large upfront fee, oftentimes in the range of hundreds or even thousands of dollars. Then, after you have made thepayment, the company does little or nothing to repair your credit and in some cases, simplydisappears with your money.To keep you from becoming a victim of this type of scam, CROA prevents credit repair companiesfrom charging for services before they have been provided. If a company charges a set up fee,they cannot collect that fee until after the task of setting up your case has been completed. If acompany charges monthly fees, those fees cannot be collected until after a months worth ofservices have been provided.Keeping this requirement in mind is probably the most important thing you can do to avoidbecoming a victim of a credit repair scam. Even today there are companies like Champion CreditConsulting and Credit Clean who will try to charge you $795 and $1223 before they have doneanything to repair your credit.2) Credit repair organizations cannot make incorrect or misleading statements

Preying on the naivety and lack of knowledge of people looking to improve their credit, manycompanies entice people with claims of improving their credit score 100 points in 60 days orremoving bankruptcies from their credit reports. The truth is that while it is possible for each ofthese things to happen, no credit repair company can promise that they will.In fact, no company can promise to remove anything from your credit reports because ultimately, itis up to the credit bureaus what items are listed on your reports. Disputing credit is not failsafe.There are cases where no matter what you do, a particular negative item will not be removed fromyour credit reports.Any company that promises to increase your credit score or remove any negative items from yourcredit reports is violating the law. According to CROA, and the nature of the credit system, the bestany company can do is promise to put forth a best effort. Just like in a court of law, a lawyer canpromise to work as hard as they can, but they cannot promise that you will win over the jury.3) Credit repair companies must inform you of your rightsThe credit system is not easy and many people do not adequately understand their rights withinthe system. This lack of education makes it easy for con-artists to prey on the unaware.So you do not get caught off-guard, credit repair organizations are required to inform allprospective customers of their right to order their own credit reports and their right to dispute thequestionable information they contain. They are also required to inform you of your right to cancelyour service within 3 days of signing up for no reason and with no penalty.When signing up with a credit repair organization, CROA dictates that you should be presentedwith a disclosure statement titled "Consumer Credit File Rights Under State and Federal Law".This statement describes the rights mentioned above.CROA has changed the landscape in the industry and has been very effective in helping the FTCidentify and prosecute shady organizations. Because of CROA, you can feel confident that yourmoney will be well spent when you enlist the services of a legally compliant credit repair company.The largest and most experienced credit repair law firm is Lexington Law. Lexington Law is alegally compliant credit repair law firm that has helped over 500,000 clients remove millions ofnegative credit listings from their credit reports.Article Source:http://EzineArticles.com/?expert=Hunter_Stuart

==== ====Repair your credit and raise your credit score today! Check out these credit repair reviews tochoose the right program to repair your credit today. Click here:http://credit-repair.96-brilliant-clever-essays.com==== ====

All Credit Repair Companies Are Not Created Equal

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