Beware of credit repair companies

 

Source: Ann Carrns, N.Y.Times ( Paid Registration )

People struggling with loan payments and falling credit scores may be tempted to seek a quick fix. But they should be wary of so-called credit repair companies that promise to scrub credit files and improve credit scores for a fee, consumer watchdogs say.

The Consumer Financial Protection Bureau filed suit this month against Lexington Law and CreditRepair.com, two of the largest credit repair brands, and a related network of interconnected businesses.

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