The Credit Repair Organizations Act (CROA):
Was signed into law in 1996 and governs the business and advertising practices of companies claiming to offer “credit repair” services. Prior to CROA, there were some companies that took advantage of consumers and profited on advice that actually hurt consumers instead of helping them. Be very careful when dealing with any company that offers to “fix” or “clean” your credit for money. Many of the services these agencies offer are things you can do for yourself at no cost, such as filing disputes with the credit bureaus.
For more information, visit the Federal Trade Commission’s webpage about CROA.