Blue Financial Alerts US Consumers of Online Credit Repair Scams

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Federal Trade Commission says self help may be best.

The ads can be found everywhere on the internet. The ads are from seemingly reputable companies offering quick solutions to poor credit. While there are many legitimate credit repair companies, there is also a litany of credit repair scams. Before a consumer signs a contract, or hands over a check or Credit Card to an online company that promises quick results, it is advisable to do some research first.

By law, a credit repair organization has to give you a copy of the “Consumer Credit File Rights Under State and Federal Law,” before you sign any kind of contract. Any contract you are given must spell out, in detail, the services the credit repair organization will provide. Details must specify the payment terms for services (this must include the total cost), a detailed description of the services to be performed, how long it will take to achieve the results, what (if any) guarantees they offer, and the company’s name and business address.

“It’s important,” says Hal Jolley, President of Blue Financial, “that the public realize they are not required to hand over a payment of any kind until the credit repair organization has done what it said it would do. The Credit Repair Organizations Act specifically states that companies 'cannot charge you until they have completed the promised services'.”

Jolley says, "The truth of the matter is that most of the things a credit repair organization does can be done by the average consumer for little or not cost. No one, not an individual or an organization, can eradicate accurate negative credit information. Only time, repayment of the debt, and/or beginning to make payments on time can counteract credit information that’s negative but accurate".

Inaccurate information can be as easily contested by the consumer as by any credit agency. Information on how to effectively and correctly dispute fraudulent credit information can be found at the Federal Trade Commissions web site,

For more information on the news that is the subject of this release or to interview Hal Jolley please call Mr. Jolley at 480-682-2584 visit

Blue Financial was founded in 2002 to provide Arizona homeowners with less than perfect credit a place to borrow money at low rates, and to assist homeowners, through a refinancing transaction, to move toward the path of financial freedom by consolidating their debt, improving their monthly cash flow, and improving their credit history.

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Hal Jolley
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