Credit Repair Scams and
What to Look Out For

Unfortunately, legitimate credit repair organizations have taken a lot of heat over the last decade because some organizations made false claims and often times did nothing to help consumers. The FTC and state attorney generals have been working hard to remove the bad companies and to make sure the good ones are operating within the law. Veracity is one of the oldest credit repair companies in the world that has been time tested, valued by the Better Business Bureau, and has many strategic partnerships with other reputable organizations.

Things to look out for before hiring a credit repair organization:

  • They offer to create a new identity for you
  • They claim they can remove debts, liens, and bankruptcies from your credit report
  • They say they can remove accurate information from your credit report
  • They are not up front about what you can do legally on your own
  • They ask for money up front before services are rendered
  • They claim outrageous guarantees about how quickly they can remove items on your report or how effective they can be

What Veracity does that makes us a legitimate company:

  • We only can help remove inaccurate information on your credit report
  • We provide comprehensive consulting on how to be a better consumer
  • We have established relationships with creditors and the big three credit bueaus
  • We are up front about the cost, only require a relatively small startup fee, and offer our services risk free with a "cancel at any time" policy
  • The startup cost follows state mandated "right of rescission" periods in which we do not actually charge your credit card until after the period has ended
  • We have served over 75,000 clients with only a handful of complaints from customers
  • We will never guarantee that we can "clean up your credit" and we are up front about the fact that credit repair is typically a 3-6 month process and can even last 1 full year
  • We are transparent about what we do and how you can actually repair your own credit without our services
  • We are not on the FTC watch list or in their database of credit repair scams

While we strive to be compliant, transparent, and offer industry leading services, there are times when a customer's situation is beyond our ability to help them. Because there are still a lot of credit organizations that are making false claims, it is common that a customer may have inaccurate notions of what can legally be done to help them. If we cannot help a customer, we will always give advice and never sign them up for services they do not need.

Credit repair is legal but there are plenty of organizations that are bending and even breaking the rules. Keep in mind that if you take part in any illegal scam, you too could be punished for your involvement which can include mail fraud and wire fraud. It is also a federal crime to falsely report information to the IRS and to loan or credit organizations.

If you believe you have been a victim of fraud, don't hesitate to report your case to your state Attorney General. You may also file a claim with the Better Business Bureau, contact the FTC, or visit www.fraud.org and report your experience with the National Fraud League Center.

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