Thursday, February 24, 2005
CREDITWRENCH and credit repair Part II
One of the links to the right points directly to the Credit Repair Organizations Act (CROA) which is federal law under the Fair Trade Commission Act.
The purpose of the law is, not only to regulate credit repair companies like CREDITWRENCH, but also to educate unwary consumers of means available to them to correct inaccuracies on their credit record themselves.
CREDITWRENCH falls within the definition of the CROA as a credit repair organization because he advertises that one of the side effects of his "course" is improved credit. That is an implied effect and is covered under the CROA the same as if it were an express effect (Sec 403(3)(A)).
CREDITWRENCH CEO Bill Bauer stating that he is exempt from the CROA is false and misleading information.
The purpose of the law is, not only to regulate credit repair companies like CREDITWRENCH, but also to educate unwary consumers of means available to them to correct inaccuracies on their credit record themselves.
CREDITWRENCH falls within the definition of the CROA as a credit repair organization because he advertises that one of the side effects of his "course" is improved credit. That is an implied effect and is covered under the CROA the same as if it were an express effect (Sec 403(3)(A)).
CREDITWRENCH CEO Bill Bauer stating that he is exempt from the CROA is false and misleading information.
Below are some meaningless links, ignore them:
