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CFPB Takes Action to Address Junk Data in Credit Reports

Today, the Consumer Financial Protection Bureau (CFPB) issued guidance to consumer reporting companies about their obligation to screen for and eliminate obviously false “junk data” from consumers’ credit reports. Companies need to take steps to reliably detect and remove inconsistent or impossible information from consumers’ credit profiles. For example, many children in foster care have …

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Credit Repair Mega Player Lexington Law Rocked With TSR Issues

A recent court document in the Consumer Financial Protection Bureau (CFPB) case against Lexington Law, John C. Heath, PGX Holdings, Progrexion Marketing, Progrexion Teleservices, eFolks, and CreditRepair.com has produced an interesting section on credit repair billing. The CFPB states, “Plaintiff Bureau of Consumer Financial Protection (“Bureau”) alleges that Defendants John C. Heath, Attorney-at-Law, P.C., d/b/a …

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Hyundai Sent Negative Information to Credit Bureaus That Was Inaccurate

Today, the Consumer Financial Protection Bureau (CFPB) penalized Hyundai Capital America (Hyundai) for repeatedly providing inaccurate information to nationwide credit reporting companies and failing to take proper measures to address inaccurate information once it was identified between 2016 and 2020. The CFPB found that Hyundai used manual and outdated systems, processes, and procedures to furnish …

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CFPB Let’s A Little More Out on Lexington Law Credit Repair Lawsuit

CFPB Let’s A Little More Out on Lexington Law Credit Repair Lawsuit

In 2019 the Consumer Protection Financial Bureau (CFPB) filed suit against the popular company for credit repair, Lexington Law. Parties named in the suit are Progrexion Marketing, PGX Holdings, Progrexion Teleservices, Efolks, CreditRepair.com, John C. Heath Attorney at Law, and Lexington Law. This has been a difficult story to follow since Lexington Law and others …

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Texas Woman Arrested For Credit Repair Through Illegal Means

Texas Woman Arrested For Credit Repair Business

A woman from Humble, Texas, was recently arrested by local police for using dubious police reports to get items removed from consumer credit reports. According to KHOU 11, Roekeicha Brisby is accused of fixing people’s credit through illegal means between November 2020 and March 2022. She’s charged with forgery and fraudulent use of identifying information, …

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Credit Repair Head Has An Interesting Court Transcript

Credit Repair Head Has An Interesting Court Transcript

Recent court documents present a very interesting transcript in the case brought by the Department of Justice against Turbo Solutions, Alex Miller Financial Services, Alex Miller Credit Repair, Alexander V. Miller You can find past posts on this case using this and this. Transcript from March 22, 2022 Found in Another Filing DEFENDANT MILLER: Yes. …

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FTC Shuts Down Credit Repair Pyramid Scheme Financial Education Services, Which Bilked More Than $213 Million from Consumers

Wide-ranging Operation Promises Easy Credit Fixes, But Provides Worthless Services and Pitches Pyramid Scheme Where Few, If Any, Make Money The Federal Trade Commission has taken action against Financial Education Services and its owners, Parimal Naik, Michael Toloff, Christopher Toloff and Gerald Thompson, as well as a number of related companies, for scamming consumers out …

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Financial Education Services and United Wealth Services Credit Repair Sued by FTC

On May 23, 2022, Financial Education Services, United Wealth Services, VR-Tech, VR-Tech Mgt, CM Rent, Youth Financial Literacy Foundation, Parimal Naik, Michael Toloff, Christopher Toloff, and Gerald Thompson and into an FTC lawsuit and takeover. This is yet another credit repair operation that has run into regulators. Ironically, I wrote about this operation in 2012. …

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FTC Shuts Down Credit Repair Using Tradelines, Piggybacking, and Identity Theft Reports

Company Illegally Charged Consumers for Credit Advice, Filed False ID Theft Reports and Pitched Them on Fake Business Opportunity At the request of the Federal Trade Commission, a federal court has temporarily halted a bogus credit repair scheme known as The Credit Game for promoting a series of lies and deceptions. The FTC alleged the …

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Deceptive Credit Repair Operation that Filed Fake Identity Theft Complaints is Stopped

Facing Foreclosure? Be Stupid and Burn The House Down Instead.

The Federal Trade Commission obtained an order halting a credit repair scheme that allegedly bilked consumers out of millions of dollars by falsely claiming they will remove negative information from credit reports, while also filing fake identity theft reports to explain negative items on customers’ credit reports. At the request of the FTC and the …

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