Credit Repair Organization Act

By law credit repair services must give you a copy of the "Consumer Credit File Rights Under State and Federal Law" before you sign a contract to repair credit. Credit repair companies also must give you a written contract that spells out your rights and obligations.



Read these documents before signing the contract. The law contains specific protections for you. By law credit repair companies cannot: make false claims about their services; charge you 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, you can cancel the contract without paying any fees. Your 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.