engine of the ruby red, Ford Mustang has been your dream for as long as you can
remember. You can finally afford it, and there it is, on the dealer’s lot. You negotiate a good price for your dream and
a reasonable trade-in on your old, beat-up ride. Next step; the office of the finance manager,
and this is where dream becomes nightmare.
Due to your bad credit, you are turned down for a loan. You knew at some point your low credit score
would be an issue, and now you need to fix it.
Voila! You find a credit repair company which will remove the negative
remarks on your report, for an upfront fee.
STOP! Do not pass go, do not collect $200.
Repair Organizations Act (CROA), enacted by Congress in 1996, made it illegal
to promise to remove negative remarks or charge an upfront fee.
Trade Commission (FTC) filed a complaint against Grand Teton Professionals,
with a Better Business Bureau D+ rating, alleging violations of the CROA and
stealing $6.2 million from consumers.
The claim involves false promises of credit repair, illegal upfront
fees, and advising clients to make misleading statements to credit bureaus.
Grand Teton Professionals uses trade names Deletion Experts, Inquiry Busters,
and Top Tradelines to dupe consumers.
using a business like this, you can repair your credit yourself. If your credit
report is inaccurate, you can dispute the claim with the company and credit bureaus. The responsibility is on the organization
that provided the erroneous information and the credit reporting agency to
correct the information.
negative comment will stay on your credit report for seven years, a bankruptcy
for ten. However, if you’ve established a good record of payment since then,
you can always contact the company that reported you and ask them to remove the
negative remark. They’re not obligated to do so, but sometimes it can make a
entitled to one free credit report a year from each of the credit reporting
companies, Equifax, Experian, and TransUnion.
Review the report for accuracy and address any false information
companies that promise a quick fix for your credit issues. Do your homework
before hiring anyone to assist with your financial matters and use BBB.org to
find a reputable company.
fixing your credit will take time.