Fraudulent credit repair companies have long been the target of FTC investigations, culminating most recently in Project Credit Despair which snared 20 credit repair companies in February 2006.

The Federal Trade Commission

The Federal Trade Commission (FTC) is responsible for enforcing consumer protection laws in the United States. In its capacity, the FTC offers a number of suggestions and warnings to consumers regarding credit repair organizations.

Beware of credit repair services that don't disclose your rights

Consumers have the right to attempt credit repair on their own. ICROFL offers affordable credit restoration services to those clients who prefer having experienced professionals managing their credit disputes and creditor interventions.

Beware of credit repair services that advocate "new" identities

It is unlawful to create a "new" identity by applying for an Employer Identification Number (EIN) to replace one's Social Security Number. File segregation is a serious crime that can result in fines or imprisonment.

Beware of companies that imply FTC endorsement

The FTC does not endorse any business. If a credit repair organization implies FTC endorsement, you would do well to proceed with caution.