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Credit Repair Companies and Credit Repair Services Consumer Watchdog In the US thousands of unsuspecting consumers are "taken" every year by unscrupulous fly-by- night "Credit Repair companies." The FTC is supposed to be keeping an eye out for those types of scammers, but unfortunately the FTC only gets involved once they’ve received tens of thousands of complaints. By then it’s too late for the 10,000 + consumers who have lost their hard earned money to those fraudulent "companies."
Furthermore, those companies usually steal the consumers' money, and then shut their doors and are never heard of again. And although the FTC sometimes does prosecute the individuals, it’s little solace to know that, while they might go to jail, your money is still gone!
The industry needed a sort of "consumer watchdog" to alert consumers from the onset, to act as the first line of defense, help mediate complaints, and warn against thievery.