- Findings.–The Congress makes the following findings:
- Consumers have a vital interest in establishing and maintaining their credit worthiness and credit standing in order to obtain and use credit. As a result, consumers who have experienced credit problems may seek assistance from credit repair organizations which offer to improve the credit standing of such consumers.
- Certain advertising and business practices of some companies engaged in the business of credit repair services have worked a financial hardship upon consumers, particularly those of limited economic means and who are inexperienced in credit matters.
- Purposes.–The purposes of this title are–
- to ensure that prospective buyers of the services of credit repair organizations are provided with the information necessary to make an informed decision regarding the purchase of such services; and
- to protect the public from unfair or deceptive advertising and business practices by credit repair organizations.
Posted in Credit Repair Organizations Act.
By CROA
December 15, 2008