How can we improve our industry? Stewardship!

Few things are more honorable than helping a disadvantaged person. And, that’s exactly what credit repair is; helping those out of financial hardship. Even though the worst of our industry’s trouble is behind us, a new bread of bad actors exists. Fortunately, we – as an industry – can correct course. Just like we are stewards of our environment and our communities, we need to be stewards of our industry. Credzu proposes to do so with its Stewardship Program.

Problems

Regulators have increased enforcement actions against bad actors in our industry because of increased consumer harm. This trend threatens the existence of the credit repair industry.

Awareness

A majority of bad actors taking advantage of vulnerable consumers are themselves disadvantaged and vulnerable. A majority of good actors are currently in non-compliance with relevant laws and rules.

Solutions

Stop consumer harm and regulatory action by encouraging compliance with compassion and education. Stopping problems before they occur helps everyone from regulators, to companies, to consumers.

Name of non-compliant company:

URL of non-compliant company:

Describe the non-compliant behavior:

What laws or rules are violated:

Screenshots of non-compliant behavior:

Stewardship Outreach

If you see the following, notify us and we will reach out to encourage compliance through compassionate education.

Deceptive acts and practices

…likely to mislead a consumer like false representations or impossible promisies.

Unfair acts and practices

…likely to cause substantial injury to a consumer like advanced fees or fraud.

Abusive acts and practices

…which take advantage of or interferes with a consumer’s understanding a product or service.

FAQs

What will you do with this information?

This information will be sent to staff at Credzu working on the Stewardship Program. We will reach out to the non-compliant company and nicely recommend changes consistent with CROA and TSR.

Can I submit information anonymously?

Yes. We do not collect your information in the form on this page. However, if you wanted to contact us, you can email info@credzu.com.

Do you report this information to law enforcement?

The goal of this program is to work with the non-compliant company, directly. We have no intention of reporting any of this information to any local, State, or Federal regulator or law enforcement agency. However, if we stumble across a serious crime, we may have an obligation to report it.

Shouldn’t we just report bad actors to the government?

You very well could be ruining someone’s life. Considering a vast majority of credit repair companies are currently in non-compliance with the Telemarketing Sales Rule, we believe in giving non-compliant companies an opportunity to change their ways.

Why do you believe bad actors will listen to you?

In our experience, most non-compliant companies simply do not know better or do not realize how important it is to comply with laws and rules. We’ve talked to company owners that have been in the industry for 5 years who never read the CROA. Other more sophisticated companies thought incorrect things (like the the CROA superseded the TSR). Ultinately, we do not believe non-compliant is indicative of a fundamentally bogus credit repair company. A simple conversation usually helps companies begin to correct course.

Shouldn’t we just publically call out bad actors?

At best, there could be educational value in dissecting improper practices. At worse, it’s morally objectionable and its likely to build a public case against our industry. It makes little sense that we can improve our industry by telling people how bad they are as apposed to telling them how they can be better. Compassionate education is our objective.