How to Spot Credit Repair Fraud in Iowa

If you are in need of credit repair services, how will you know which company to turn to? Unfortunately, as with anything, there are good and bad companies out there. It is hard to tell the good ones from the bad ones on the surface level; however, if you learn what to look out for, you will be able to spot a fraudulent company.

If you have bad credit and want to increase your credit score, you do not need to hire a credit repair company. You can learn how to dispute inaccurate items from your credit report yourself. However, if you do not have the time and you want to hire a credit repair company to help you in this endeavor, learn what to look out for. Call the Iowa attorney general's office, your local consumer affairs agency, and the Better Business Bureau (BBB) to see if there have been any complaints against the company you are considering hiring.

If there have not been any complaints, the next thing to look at is the company's contract. Get a copy of it to verify that the following items are included:

  • Dates of term

  • Description of services being performed

    • Make sure they are not telling you that accurate information on your credit report can be removed. (Only inaccurate information can be disputed.)

  • No upfront money before services are performed

  • Cancellation clause

The credit repair company in Iowa should be registered with the state's attorney general. This means that the company's contract should be approved by the attorney general's office and the company carries the required bond amount. In addition, the credit repair company should give you a copy of the Consumer Credit File Rights Under State and Federal Law. This will inform you of your rights.

If you are a victim of credit repair fraud in Iowa, you can take action. If you believe that the credit repair company scammed you, you should report the company to your state attorney general's office and write to the Federal Trade Commission (FTC). This will help ensure that someone else might not get victimized by the fraudulent company you dealt with.

In addition, you may be able to collect the money you lost. There are legal rights that protect consumers from fraudulent companies. Don't let this company get away with a scam. Contact an Iowa consumer fraud attorney at the law firm of Brady Preston Gronlund today at (319) 866-9277 and speak with an experienced attorney to find out your legal options.