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Debt-Consolidation
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Credit Repair Organizations Act
Have You Been Victimized?
Do-It-Yourself Check-Up
About The FTC
Advice From The BBB
Credit Repair Companies with
BBBOnLine Reliability Seal
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Have You
Been Victimized?
Many states have laws strictly regulating
credit repair companies. States may be helpful if you've lost money to credit
repair scams.
If you've had a problem with a credit repair company, don't be embarrassed to
report them. While you may fear that contacting the government will only make
your problems worse, that's not true. Laws are in place to protect you. Contact
your local consumer affairs office or your state attorney general (AG). Many AGs
have toll-free consumer hotlines. Check with your local directory assistance.
Need Help? Don't Despair
Just because you have a poor credit report doesn't mean you won't be able to
get credit. Creditors set their own credit-granting standards and not all of
them look at your credit history the same way. Some may look only at more recent
years to evaluate you for credit, and they may grant credit if your bill-paying
history has improved. It may be worthwhile to contact creditors informally to
discuss their credit standards.
If you can't resolve your credit problems yourself or you need additional help,
you may want to contact a credit counseling service. There are non-profit
organizations in every state that counsel consumers in debt. Counselors try to
arrange repayment plans that are acceptable to you and your creditors. They also
can help you set up a realistic budget. These counseling services are offered at
little or no cost to consumers. You can find the office nearest you by checking
the white pages of your telephone directory.
In addition, nonprofit counseling programs sometimes are operated by
universities, military bases, credit unions, and housing authorities. They're
also likely to charge little or nothing for their services. Or, you can check
with your local bank or consumer protection office to see if it has a list of
reputable, low-cost financial counseling services.
Do-It-Yourself
Check-Up
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