What Is A Credit Repair Organization

25 Aug What Is A Credit Repair Organization

A Credit Repair Organization (CRO) is an organization (or and individual) that provides or offers to provide services improving a consumer’s credit record, credit history, or credit rating for a fee. A company can also be considered a CRO if it provides advice or assistance to a consumer on how to improve their credit.

Non-profit credit counseling organizations, creditors trying to restructure a consumer’s debt to it, and banks and credit unions are not CRO’s.

The Federal Credit Repair Organizations Act provides for very specific disclosure requirements before a CRO can provide services, including the need for a written contract, and a three-day right to cancel the agreement.

The following articles discuss the risks associated with CRO’s:

Credit Repair: Beware of Predators!

Credit Repair: What They Don’t Tell You

Credit Repair:Watch Out!

Related Posts Plugin for WordPress, Blogger...
The following two tabs change content below.
I've been a consumer bankruptcy lawyer for nearly 25 years. Since that time I have helped many people resolve their financial problems. I have been practicing law since 1986 and I am licensed to practice in all state and federal courts in the State of Louisiana. Because I am a sole practitioner, you know that your debt matters are being handled by me personally. In addition to my work with consumers, I am also frequently asked to speak at local seminars on bankruptcy law. I am member of the following organizations: • Louisiana Bar Association • National Association of Consumer Bankruptcy Attorneys • Bankruptcy Law Network My office is located at: 3920 General DeGaulle Drive, New Orleans, LA 70114 Telephone: (504) 368-4101

Latest posts by Kevin Gipson, New Orleans Bankruptcy Attorney (see all)

No Comments

Sorry, the comment form is closed at this time.