Any resident of West Virginia who is interested in repairing a poor credit history has the right to repair his or her credit. Whether the person makes it a goal to repair credit without outside assistance is a matter of personal choice. For some people, bad credit histories are related to complex reports that may require help from a West Virginia credit repair service offering professional services.
Consumers Do Not Pay Fees Until Services are Performed
Consumers who worry about the need to pay a credit repair company money prior to receiving services are protected by West Virginia legal regulations. In West Virginia, it is illegal for a credit repair service to charge or receive any fees to consumers seeking credit restoration unless the service has already acquired a surety bond.
A Credit Service Organization is Not Allowed to Mislead
When a consumer contracts with a credit restoration company, the representative is legally prohibited from making misleading statements to the customer. For instance, the counselor is not permitted to tell the client that the person’s bad credit is going to vanish unless the credit report actually contains obvious mistakes. Chapter 46A of the West Virginia Consumer Credit and Protection Act, §46A-6C-1, clearly states the legal guidelines credit repair services must observe.
State Registration is a Legal Requirement
In West Virginia, a credit repair service must register with the state as an official Credit Service Organization (CSO). A repair counselor is required to give the consumer a CSO disclosure form informing the client about a wide variety of legal requirements. For example, a disclosure form must include the complete name and physical address of the surety bond company.
Disclosure Forms Need to Provide Valuable Information
A disclosure must inform the customer that he or she has the legal right to have direct interactions with any of the consumer reporting agencies. These laws were created to protect consumers who want to repair their credit ratings. It is important to emphasize the fact that the consumer is to receive disclosure details prior to signing a contract for services.
Verbal Disclosures Do Not Hold Any Legal Weight
Consumers in West Virginia seeking credit repair services need to know that verbal agreements are not viewed as legal instruments. Any agreement between a client and a credit service repair company must occur in writing. Furthermore, the written contract must contain specific information including information about canceling the contract. Consumers who want to benefit from a credit restoration company in West Virginia need to make sure the business is following all the laws.
Consumers are Encouraged to Ask Questions
Some people who are looking for a credit repair service do not want to ask questions because they feel intimidated by rude employees. One helpful piece of advice is to stay away from a credit repair service employing counselors who do not offer excellent customer service. A consumer has the right to ask numerous questions before agreeing to sign a written contract. Consumers need to beware of employees who keep checking the time on their wrist watches in lieu of answering questions. Instead of agreeing to sign a contract, the person should seek services elsewhere.
Consumers can Obtain a Free Credit Report Every Year
Consumers who want to know about information contained in their credit reports can obtain complimentary credit reports every year from the three major credit bureaus known as Equifax, TransUnion and Experian. For some consumers, viewing the information found in their credit reports offers enough details to repair their credit histories without the need to work with a credit repair service. However, some consumers may not have the time or knowledge required to repair their credit ratings. Others with complicated reports may wish to work with a counselor.
Every Consumer has a Chance to Repair a Poor Credit History
The main thing to remember is that every person has the right to fix bad credit. No one is obligated to have a terrible credit score for all eternity. Taking immediate action is a wise move for the person who is aggravated by paying higher interest rates on the mortgage or car. Instead of procrastinating about correcting low credit scores, consumers need to take action today.