NACSO Applauds Injunction against Fraudulent Credit Repair Services
Washington, DC (PRWEB) April 09, 2015 -- The National Association of Credit Services Organizations, NACSO, supports and applauds the Federal Trade Commission’s complaint and injunction request (Civil Action Number: CV15-01921-DDP-PJW Federal Court: Central District of California) against First Time Credit Solutions of Bell, California. According to Court Documents, First Time Credit Solutions allegedly preys on Spanish-speaking consumers by posing as affiliates of the Federal Trade Commission in an effort to defraud consumers with fraudulent credit repair services. In the lawsuit, the FTC seeks an injunction and subsequent penalties for violations of the Federal Trade Commission Act, the Credit Repair Organizations Act, as well as misrepresentation and deceptive trade.
The National Association of Credit Services Organizations is an association of responsible credit repair advisors who advocate integrity and honor as well as ethical business practices in the credit repair industry. NACSO promotes compliance with federal guidelines throughout the industry at the national level. In addition NACSO encourages high standards among credit repair professionals with the NACSO Standards of Excellence promoting trustworthy industry growth and enrollment certification to aid in the prevention of fraudulent practices throughout the credit repair industry such as the ongoing lawsuit against First Time Credit Solutions in California.
"NACSO supports regulatory enforcement efforts to root out 'bad actors' posing to be legitimate providers of credit repair services. The alleged egregious behavior is unlawful and it appears the FTC appropriately responded swiftly. NACSO represents the professional credit repair industry and its standards of excellence and code of conduct is centered on ethics and integrity in serving consumers" Nick Owens, CEO Magnolia Strategy Partners, LLC.
The Federal Trade Commission lawsuit CV15-01921-DDP-PJW filed in Federal Court - Central District of California on March 16, 2015 is aimed at First Time Credit Solutions, a company which also operates under the names FTC Credit Solutions, Doctor de Credito and First Consumer Credit USA according to the FTC compliant. The company is accused of allegedly taking advantage of consumers by charging thousands of dollars for fraudulent services and posing as licensees of the U.S. Government’s Federal Trade Commission. First Time Credit Solutions’ is accused of making false promises include debt elimination, negative information removal and a guaranteed credit score of 700 or more. Evidence features a Spanish-language ad claiming licensure by the Federal Trade Commission and purported phone conversations asserting the Federal Trade Commission is a law signed by President Obama allowing First Time Credit Solutions to remove all negative credit report information, according to the FTC Compliant.
"NACSO continues to work in a transparent manner with regulators and consumer advocates to ensure consumers have access to professionals who are experienced in navigating the dispute process whether with a credit reporting agency or a debt collection firm. Educating public policymakers on the value of credit repair professionals remains a top priority as Congress considers Credit Repair Organizations Act legislation" Jason Kaplan, Esq., Member NACSO Board of Directors and President and Co-Founder of The Credit Pros Intl.
NACSO supports the efforts of the FTC and the Federal Government in acting quickly to stop the flagrant attempts by unscrupulous credit repair organizations in defrauding consumers. NACSO works on behalf of authentic, legal credit repair professionals and consumers in need of credit repair and within the Fair Credit Reporting Act and the Credit Repair Organizations Act to ensure credit repair professionals deliver honest understandable services to consumers, improving their credit and their lives.
About NACSO
National Association of Credit Service Organizations (NACSO), a 501 C (6) non-profit organization and the leading trade association for the nation’s credit repair industry. NACSO is an association of responsible credit repair professional that encourages the high standards of ethics, honor and integrity in credit repair business practices.
Nicholas Owens, NACSO, http://nacso.org/, 202.495.0701, [email protected]
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