Action 9 Investigates Credit Repair Company

ORLANDO, Fla. - Action 9 has a warning about some offers to fix bad credit scores so you can get a loan. 450 after it guaranteed to delete his bad credit. Dennis Gaskins is trying to buy a house but poor credit scores make a VA mortgage impossible. “We're just trying to get a small home that we can call our own,” said Gaskins. A billboard caught his eye. The credit repair company claimed to delete bad credit in 45 days, guaranteed.

Gaskins called the number on the sign then met Filip Garrison, who owns Orlando Florida Credit Repair. Gaskins met Garrison at his home and office near Windermere. 450 cash, which covered services for his wife, too. In return, the company would contact their credit bureaus. “He was going to send out the letters and dispute everything that was negative on my credit report,” said Gaskins. He said he was told to add two credit cards and make regular payments.

But Gaskins claimed his scores barely improved. “Did that change your credit scores as promised, ” asked consumer investigator Todd Ulrich. “No sir. He was supposed to guarantee to get our credit score above 620 in 45 days,” replied Gaskins. He said the company refused any refund. Orlando Florida Credit Repair is rated F at the Better Business Bureau. Customers who complained say the company didn't give them a contract and it wanted to be paid upfront-- both red flags for credit repair.

Ulrich tried to get answers at the home office but Garrison decided against any interviews. By text, he said Gaskin’s scores had improved, his guarantee means he keeps trying to lower their scores and he has hundreds of satisfied customers. In a YouTube video, he denies doing anything wrong. “Well I’m definitely not a scam. I've been doing credit repair for six years and I’m No.1 on Google,” he said. “I feel my money should be refunded to me,” said Gaskins.

Garrison had three real estate agents contact Ulrich who said their buyers used his services and their scores were lowered. That was not the case for customers who contacted the BBB. The Consumer Financial Protection Bureau says if there's no contract, an advance fee and it's offering to delete legitimate debt, it's risky and may not be a good option for people with low credit scores.

People that have bad credit sometimes don’t follow instructions. The clients that follow good credit habits always succeed. How am I supposed to be responsible for clients’ actions after they leave, That’s the express purpose for the hour-long consultation and instructions. I’m at 40 percent referrals. It’s in my best interests that the client succeeds. I also have several real estate agents who sold clients homes because of my service. 299 to step foot into my office. I don’t offer money back. I get paid for work. No contract needed to perform a job agreed upon.

This piece of information alone justifies growth of Memphis credit repair companies. They aim to get your credit score to the minimum level ( 620 ) required for conventional mortgage. There are many loopholes that credit repair in Memphis tn services will use to raise your score. But before hiring a Memphis credit repair service you must look for three things: how long the credit repair company has been around, reputation and money-back guarantee. 99.95 per month, plus a small one-time charge to obtain your credit reports. Its always recommended to get quotes and consultations from at least 3 credit repair companies in Memphis before you decide to hire one.

For plenty of Americans the phrase credit repair is synonymous with the phrases cheats & con-men. It’s possible that a large majority of people that believe it to be a hoax have never even used credit repair or have ever tinkered their credit at all. That’s not to say that their viewpoints are completely out of left field.

The fact of the matter is that it’s all too common for people who plan to con you out of your hard earned money. The same is the case for pretty much any fiscal service. Banks, insurance firms, investors, have all been in the news of late because of scams or embezzlement or some other variation of what’s inevitably theft. They’ll continue to be in the news and ever present in our society because a lot of people are inherently greedy. Won't Credit Repair Legislation End This,

Laws were authored and handed down to guarantee that credit repair scams couldn't negatively harm American shoppers. However the laws are considered so rigid that they scare away many industry professionals that fear the high-priced litigation that may be connected with the establishing of a credit repair company. The obstacle is that economic criminals have very little to lose even if they are charged. The governing body that polices the credit repair agencies, the Federal Trade Commission, has done a dreadfully inadequate job in keeping up with many of these fly-by-night groups.

Every so often, they’ll sue one of the real financial professionals in the industry to keep face, while making it possible for countless numbers of start-ups to go unmonitored. Why Does It Appear Like This is a Expanding Dilemma, In most cases, the American public is wising up to counterfeit credit repair specialists. That’s not to suggest that the problem is going away. Additional Credit Rating Checks - There are an increasing number of companies pulling credit reports.