jahnursi…
What are the requirements for credit repair licensing if you want to start your own business?
I live in Washington state, and I am starting a credit repairing besiness. I already have a regular business license, and I am filing to be incorperated (LLC) but I am wondering if there is any requirement for a Credit Repairing Agency to be licensed in any other way, or bonded, etc. Does anyone know where I would look to find this information???
2007-04-03 09:00:09 · 3 answers · asked by jahnursing 1 in Business & Finance ➔ Credit
I don't know the laws of your state, but you should become familiar with them and also the FTC if you plan on becoming a CRO.
To learn the CRO, and credit, laws of your state, you need to research your states statutes and also research the FTC
One place to "start"
CHAPTER 2--CREDIT REPAIR ORGANIZATIONS(1)
SEC. 2451. REGULATION OF CREDIT REPAIR ORGANIZATIONS.
http://www.ftc.gov/os/statutes/croa/croa.htm.
Individual states and the FTC have been cracking down and making stiffer laws, and penalties, for CRO's because of the underhanded tactics many have used.
2007-04-03 09:48:56 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Once again, Echo is right on target.
Besides following the federal laws, every state has their own laws regulating credit repair companies. Where I live you must be licensed. If you accept money for doing credit repair you must have that license.
That's why I work for nothing. ;)
2007-04-03 21:45:59 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I really doubt that anyone that knows anything about credit is going to help you because we all understand that credit repair companies are a total rip off.
2007-04-03 16:39:43 · answer #3 · answered by ? 7 · 1⤊ 1⤋