Creditcrm.com

This company offers a business opportunity called Credit CRM, or Business-in-a-Box. The opportunity purportedly enables the buyer to receive training and tools to start a credit restoration business. For an initial start up fee of $12,900, the buyer receives computer software, a webpage, hosting, email, and twice a month telephone conference calls for training. A fee of $295 per month is required to maintain the plan.

Before signing any agreement to provide credit repair, we suggest that you research all Federal and State Laws that may place restrictions on how you provide the service and some require registration and bonding requirements. Under Federal Law, credit repair organizations must give a copy of the “Consumer Credit File Rights Under State and Federal Law” before you sign a contract. They also must give you a written contract that spells out your rights and obligations. A credit repair company cannot: make false claims about their services, collect any money until they have completed the promised services, or perform any services until they have your signature on a written contract and have completed a three-day waiting period. During this time, the contract can be cancelled without paying any fees. The contract must specify: the payment terms for services, including their total cost; a detailed description of the services to be performed, how long it will take to achieve the results, any guarantees they offer; and the company’s name and business address.