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The Credit Repair Organizations Act ("CROA") is not actually an Act, it is actually Title IV of the Consumer Credit Protection Act. Section 401 states, however, it can be referred to as "Credit Repair Organizations Act". The statute was signed by President, Bill Clinton on September 30, 1996.[1]

Now more than ever consumers must establish and maintain strong credit worthiness and standing in order to obtain more credit. As a result many consumers who have experienced credit problems seek assistance from credit repair organizations. Some credit repair organizations, however, advertise and engage in unfair business practices which result in financial hardship for consumers, particularly those of limited economic means or are uneducated[citation needed].

The purposes of the Credit Repair Organizations Act is to ensure that prospective buyers credit repair services from credit repair organizations are provided with the information necessary to make an informed decision. It intends to protect the public from unfair or deceptive advertising and business practices by credit repair organizations. It enumerates prohibited practices, required disclosures, contract requirements, liability, and penalties for non-compliance and procedure to report non-compliance.

One of the more important areas covered by CROA is how credit repair organizations can get paid. It is the general consensus that a credit repair company can only be paid after services have been rendered. This can be done using a monthly fee model where companies charge clients on a monthly basis after services are rendered or on the more modern pay after deletion model where clients only pay after items are deleted from the credit report. Companies that charge excess "setup" fees or all of their fees upfront violate the provisions of CROA.[2]


  1. ^ http://www.creditrepaircompanies123.com/credit-repair-organizations-act-croa-summary/
  2. ^ http://www.ftc.gov/os/statutes/croa/croa.shtm

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3 news items

Florida Times-Union (blog)
Thu, 07 Aug 2014 05:16:27 -0700

The federal Credit Repair Organizations Act lays out the rules credit repair companies must follow. In addition to Rusty Collins fantastic list of red flags, a consumer should also make sure that the company is licensed and bonded if state law requires ...
Virtual-Strategy Magazine (press release)
Sun, 03 Aug 2014 21:07:30 -0700

Additionally, the industry's negative reputation stemming from deceptive practices and charging advanced fees for services, both of which violate the Credit Repair Organizations Act, introduced skepticism in industry services; this further encouraged ...
Korea Daily
Sat, 16 Aug 2014 16:03:45 -0700

검색엔진 구글과 빙(Bing)에 'credit repair'를 입력해 검색해 보면 무려 4천 만개가 검색된다. 융자 조건이 까다로워지면서 나쁜 크레딧으로 주택 융자를 받기는 힘들다. 주택 구입 뿐만 아니라 주택 렌트, 각종 융자, 심지어 차량 보험을 구입하고 직장을 구하는 ...

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