Credit Repair Companies and the ECRA » credit repair organizations act http://www.ecraonline.org/blog Credit Repair Companies & Credit Repair Services Consumer Watchdog Sun, 13 Nov 2011 16:11:16 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 The Credit Repair Organizations Act – The Good News http://www.ecraonline.org/blog/credit-repair-companies/credit-repair-organizations-act-good-news/ http://www.ecraonline.org/blog/credit-repair-companies/credit-repair-organizations-act-good-news/#comments Wed, 14 Oct 2009 18:29:18 +0000 admin http://www.ecraonline.org/blog/?p=83 There is a lot spoken about credit repair scams. As a customer, you need to educate yourself about a few basic facts before you seek an ethical credit repair agency to help you out with your credit score.  This is why the first thing you should do when you negotiate terms with a credit agency is to ask for a contract. This is your right. According to the Credit Repair Organizations Act, or CROA as it’s popularly known, the credit repair agencies are legally bound to:

* Give you correct advice about how to repair credit. They are forbidden to introduce you to illegal means to repair credit
* State correctly and clearly what are the services they will provide and charge you for
* Ask for payment only after the services promised have been delivered to your satisfaction; never pay upfront

Remember the Credit Repair Organizations Act gives you the right to sue any organization that violates the Act.

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