You can’t stand the temptation of a quick fix of your credit, can you? Have you thought that this can be a scam? In fact, those who promise to instantly add 100 or more points to your credit score so you can be eligible for a rewards-packed credit card and require an upfront fee, are scammers. If you’re interested in protecting you and your business and find the right credit repair merchant account, just read this article.
The Secure Credit Repair Merchant Account You Need
The Federal Credit Repair Organizations (FTC) has recently stopped the operation of a company that was offering credit repair services. The company is named Grand Teton Professionals. Due to the court’s decision, the company’s assets are temporarily frozen.
More specifically, this credit repair company was supposedly running a credit repair scheme. The customers that’ve allegedly been victimized paid upfront fees to this company believing in its false claims to improve credit scores incredibly fast.
Consumers were offered checks to use that’d been created remotely and were away from being legal. The payment for the provided services was to be made via those checks with the help of telemarketing.
The truth is that the credit repair process is rather tough. If you need to repair your credit, you should be prepared to devote enough time to this process instead of hoping to have your credit repaired instantly as this type of scammers promise.
As for legitimate credit repair business owners, you should take the time to find the right merchant services provider like FirstAmericanMerchnat.com that can get you a secure credit repair merchant account without challenges.
First American Merchant is a BBB-accredited payment processor and alternative online lender that’s specialized in the high risk field. FAM is dedicated to offering only the cheapest possible rates and the fastest application in the industry.
FTC Fighting Credit Repair Scammers
To avoid falling into the trap of credit repair scammers, you should know how they can hide their true face. So, this type of companies usually use deceptive tactics and run businesses under different trade names. They usually use unclear terms, as well as unrequested emails and text messages.
The FTC warns that companies that charge money in advance to provide their “credit repair services” are violating the law. The federal Credit Repair Organizations Act was enacted in 1996. According to the latter, it’s unlawful for companies offering credit repair services to promise the impossible, meaning promising to improve credit instantly. It’s also illegal to charge fees in advance as in the case with the mentioned company.
The mentioned defendants promised people to quickly improve their credit and remove anything negative from their credit reports by taking upfront fees.
To sum up, the FTC’s complaint was against Grand Teton and other related organizations. All those involved in the scheme are now accused of having operated misleading websites, unrequested emails, and text messages.
As a merchant, do your best to find a true payment expert in your field that can help you fight fraud fast and easily.Get Started Now