The Better Business Bureau of Northeast Lousiana has received information on a company that’s advertising locally named HelpMyCreditNow.com. The company claims to be able to erase bad credit for $250.00. The company has an F rating with the BBB in Florida (see report:http://www.bbb.org/north-east-florida/business-reviews/credit-repair-services-advance-fee/hargrave-associates-financial-solutions-in-jacksonville-fl-181223652/)where the company is headquartered and does business under several names. The Better Business Bureau has great concerns about companies in the industry in which this business operates. The Louisiana Attorney General’s office has issued a cease and desist order (an order or request to halt an activity (cease) and not to take it up again later (desist); or else face legal action) against the company and yet the company continues to do business here and We continue to see the signs all over Acadiana. The Attorney General’s office has also issued a Civil Investigative Demand recently.
So can you really erase bad credit???? You may get errors corrected but if it is your debt, then it is reportable.
For a fee, they promise to clean up your credit report so you can obtain a car loan, a home mortgage, or even get a job. Unfortunately, many of these companies can't deliver. After paying these companies hundreds or thousands of dollars in upfront fees, these companies do nothing to improve your credit report; many simply vanish with your money.
The truth is, no one can legally remove accurate and timely negative information from a credit report. But the law does allow you to request a reinvestigation of information in your file that you dispute as inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost. According to the Fair Credit Reporting Act, you are entitled to a free copy of your credit report if you've been denied credit within the last 30 days. You can also dispute mistakes or outdated items for free.
If you decide to respond to a credit repair offer, the Better Business Bureau suggests you beware of companies that:
do not tell you your legal rights and what you can do -- legally -- for free;
- recommend that you not contact a credit bureau directly;
- want you to pay for credit repair services before any services are provided; or
- advise you to dispute all information in your credit report
Contact the Better Business Bureau at 387-4600 or www.monroe.bbb.org for more information or to file a complaint.
Also file a complaint at the Louisiana Attorney General’s office at 1-800-351-4889 or online at www.ag.state.la.us