Another Credit Repair Company bites the dust… happy it wasn’t you!
FTC Takes Down Credit Repair Scheme That Scammed Consumers Out of Millions.
The Federal Trade Commission (FTC) has taken action to shut down credit repair schemes that scammed consumers out of millions of dollars. The “Credit Game” company falsely promised to repair customers’ credit scores and remove negative information from their credit reports. Unfortunately, the company did not provide legitimate credit repair services, often worsening customer credit scores.
The scheme affected thousands of consumers across the United States, who paid thousands of dollars each for the fraudulent services. As a result, the FTC is seeking to permanently shut down Credit Game and obtain refunds for the affected consumers.
The credit repair industry is plagued by scams and fraudulent schemes that promise to fix consumers’ credit scores quickly and easily. Unfortunately, many of these schemes fail to deliver on their promises and can leave consumers in worse financial shape than before.
The Credit Game scheme is a prime example of this problem. The company marketed itself as a credit repair service that could remove negative information from customers’ credit reports and improve their credit scores. However, the company did not provide legitimate credit repair services and often worsened customers’ credit scores.
The FTC’s complaint alleges that Credit Game and its founder, Dave Marzano, made false and unsubstantiated claims about their services and charged customers illegal upfront fees. They also allegedly pressured customers into signing contracts and refused to issue refunds when the promised results were not delivered.
Legitimate credit repair companies will only make promises that are good enough to be true. They will also be transparent about their fees and services and will not pressure customers into signing contracts or paying upfront fees.
Consumers with credit problems should consider working with a reputable credit repair company or credit service organization. These professionals can provide guidance and support to help consumers improve the quality and correctness of their credit reports which could help them with their credit scores and general financial health.
The Credit Game case highlights the importance of being wary of credit repair schemes that promise quick fixes and easy solutions to credit problems. Consumers should be cautious when dealing with credit repair companies and always do their due diligence before signing up for any services. By researching and being aware of the warning signs of fraudulent schemes, you can protect yourself from financial scams and make informed decisions about your finances.
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