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The Financial Expert Group Says for a Fee They Can Make My Bad Credit Go Away. – Carol

By on May 15, 2012

“Dear Steve,

I made some bad credit decisions back in 2008 or 2007. A company called The Financial Expert Group, Inc
26650 The Old Road, Suite 110,Stevenson Ranch, CA 91381 is telling me if I pay them $5400 they can make this debt go away for every.

Carol”

Dear Carol,

Save your money.

If you think you can pay $5,400 a have bad debt magical disappear without any consequences, you would be mistaken.

I agree, inaccurate information can be removed from a credit report. That’s something you can do yourself for free. All you have to do is get a copy of your consolidated credit report and notify the credit bureaus of information that appears on each credit report that is not accurate.

I did visit the Financial Expert Group website and found what I consider to be some misleading statements. For example, “Our Credit Restoration service is the most popular. It permanently removes derogatory accounts from your personal credit reports such as (Late Payments, Charge-Offs, Collections, Judgments, Bankruptcies, Tax Liens, etc.).” – Source

That gives people the impression that this company has some way to remove accurate but negative information from your credit report. If you actually did that and then went and applied for credit using a false credit report you are committing credit fraud.

Additionally, any company that charges you in advance for credit repair services is in violation of the Credit Repair Organizations Act. No advance fee may be charged. And from their website it looks like an advanced fee may be charged since they say, “Our clients pay on a per-item basis. In the case that we are unable to delete an item by the time your contract expires, you will receive a full-refund* for that item, should you choose for us to stop working on it.” – Source

The company website seems to indicate their approach is to reportedly dispute items in hopes they go away.

The problem with that approach is while the credit bureaus may miss a review date and remove an item, there is nothing to prevent it from being re-reported by the original creditor.

READ  Is Lexington Law Firm Worth the Money?

If you want to clean up your credit of inaccurate information and rebuild a better credit score you can do that almost for free just by following the advice below.

Heck, if you want to see what your credit score looks like and what you can do to improve it you can just go to CreditKarma.com and do all of that for free.

Who is The Financial Expert Group?

The website for the company (financialexpertgroup.com) says the company is:

The Financial Expert Group is a team of experienced credit experts, knowledgeable support staff and professional customer service representatives who’s only goal is to assist you in improving you credit. – Source

They also list their address as 26650 The Old Road, Suite 110, Stevenson Ranch, CA 91381. An online search using this address identified multiple companies. I have no way to confirm independently that this is not a mail drop or shared address.

The company is a registered California corporation since 2002.

Interestingly the owner and administrative contact of the domain name is listed as:

Claudia Jawher
[email protected]

Sunshine World Services
18501 Calle Vista Cir
Porter Ranch, California 91326

Please post your responses and follow-up messages to me on this in the comments section below.

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About Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

One Comment

  1. Chrisjwilliams50

    July 27, 2012 at 1:51 pm

    I used their service and know other people that have as well and they do deliver what they promise (as far as the credit repair service, I do not know about anything else they offer). The only thing about them is they have VERY bad customer service!!! Very!! Don’t return calls, rude on the phone and never available.

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