Cease-and-desist order issued for credit repair company
News from The Daily Advertiser:
A cease-and-desist order has been issued for A American Debt Consolidation on Center Street in New Iberia for allegedly failing to provide the necessary $ 100,000 bond required for credit repair companies by state law.
The order was issued on Jan. 24 by the Louisiana Department of Justice, Office of the Attorney General, Public Protection Division, Consumer Protection Section.
The business came to the attention of the Better Business Bureau of Acadiana after it advertised credit repair as one of its services on an Internet website. The BBB regularly looks into Acadiana businesses that require special state licensing or registration to ensure that they comply with BBB standards.
The BBB of Acadiana warns residents to use extreme caution when doing business with credit repair companies promising to erase bad credit. Individuals should beware of promises of clean credit following credit repair services; beware of companies asking for advance payment; do not pay credit repair companies for services you can do for free; never let anyone tell you to avoid contacting the three major credit reporting agencies; and do not allow a credit repair company to suggest you use an Employee Identification Number instead of your Social Security number to invent a new credit identity.
In general, the only way to improve bad credit is to pay debts on time and leg…………… continues on The Daily Advertiser