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We add a fairness layer between buyers and sellers of credit services. That's literally our purpose. In an industry ripe for abuse, a fairness platform is long overdue. We studied the issues and government regulations directed at them. From protecting fees in escrow to forcing transparency, everyone stands to benefit from our fairness model.
It is a declaration of a finding of Congress that "[c]ertain 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."
The very purpose of the Federal Credit Repair Organizations Act is: (1) 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 (2) to protect the public from unfair or deceptive advertising and business practices by credit repair organizations.
Congress directed the Federal Trade Commission to declare acts and practices unfair if the "practice causes or is likely to cause substantial injury to consumers which is not reasonably avoidable by consumers themselves and not outweighed by countervailing benefits to consumers or to competition."
"...the Final Rule is intended to limit the telemarketing of deceptive credit repair services."
"The abusive practices relating to credit repair services...meet the criteria for unfairness. An act or practice is unfair under Section 5 of the FTC Act if it causes substantial injury to consumers, if the harm is not outweighed by any countervailing benefits, and if the harm is not reasonably avoidable."
We reverse engineered all the credit repair laws and rules and realized they amount to two things: First, there's a high likelihood of harm from misrepresentation. Second, there's a high likelihood of harm from advanced fees. Rather than hope that companies comply with rules and laws, we've inserted ourselves into credit repair transactions to ensure those principles of law are not violated.
Fairness requires that a transaction begin with honest representations. We require companies put their promises in writing, upfront. With monitored communication, there is no room for "word pictures" over the phone. No word games, just mutually beneficial business.
Read moreThe days of ripoffs and chargebacks are over. Fees remain in our protected escrow until they are earned by a provider or refunded to a consumer.
Read moreFairness should not be difficult. We've created a system that's easy to operate and get done what's most important: fair credit repair transactions.
Read moreCredzu does all the vetting for you. We can make transactions between you and your credit repair company headache and hassle-free.
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Can I get some assistance with a walk-thru the platform?
Absolutely. Please email cory@credzu.com
How are you soliciting escrow services as a solution to the ‘when can a CSO take a payment’ violations, when your very own article (here: https://credzu.com/laws/ftc-tsr-credit-repair-debt-settlement-escrow-2/) strongly makes the case for escrow of funds for CSO services is very much more than highly likely still ILLEGAL?
David! I love that you read our website and that it provoked you to ask such a great question. So, credit repair is regulated by many laws and rules. For example, the Telemarketing Sales Rule (TSR), the Federal Trade Commission Act (FTC Act), the Credit Repair Organizations Act (CROA), and many state laws. State law aside, the primary regulatory concerns of credit repair organizations are the CROA and the TSR. And they say different things as it relates to advance fees. The CROA says ‘do work, then charge.’ The TSR says ‘do work, wait 6 months, proof you did what you said, then charge.’ The article you linked to is about whether escrow solves the TSR issue. And, we do not believe it does (not without legal gymnastics that have yet to be argued in any court). Also, we prohibit telemarketers of credit repair service from using our services. However, we DO believe escrow solves CROA (and even FTC Act issues).If you want a walkthrough of these issues, please watch our CreditCon speech on this topic here: https://credzu.com/tsr/ I hope that was helpful!