Are there any scams or frauds associated with credit repair?

Yes, there are scams and frauds associated with credit repair in Washington. Unfortunately, there are companies and individuals who will take advantage of consumers who are seeking assistance with repairing their credit. They often charge large upfront fees and fail to perform the services they have promised. In addition, some credit repair companies will make false or misleading statements to consumers, such as promising an immediate improvement in their credit score or that the bad credit can be erased. In most cases, these claims are false. Other credit repair scams involve identity theft. If a consumer is asked to provide their personal information to a credit repair company in order to begin the repair process, the consumer should be aware that the company may be attempting to steal their identity. Consumers should be aware that credit repair companies cannot remove legitimate negative items from a credit report, such as late payments or declared bankruptcies. It is best for consumers to contact the credit bureau directly to dispute any errors on their reports. The Federal Trade Commission (FTC) has the authority to investigate and take action against companies who engage in deceptive and unfair practices. The FTC offers information, tips and resources to help consumers avoid credit repair scams. Consumers should be aware of their rights and do their research before hiring a credit repair company.

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Are there any scams or frauds associated with credit repair?

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