Illinois Credit support agreement
Description
How to fill out Credit Support Agreement?
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FAQ
Credit Repair Laws in Illinois Yes, under the Credit Services Organizations Act. What are the specific statutes? 815 ILCS 605/1 et seq.
Credit repair services are considered high risk.
The Illinois Compiled Statutes (ILCS) is a compilation of Public Acts, organized by Chapter and Act number under nine topical categories. Public Acts are bills that have been passed by the Illinois General Assembly and signed by the Governor.
This Act, Title IV of the Consumer Credit Protection Act, prohibits untrue or misleading representations and requires certain affirmative disclosures in the offering or sale of "credit repair" services.
Credit services organizations in Illinois are required by law to maintain a $100,000 surety bond. Your exact surety bond cost will depend on a review of your credit report, your personal financial statement, and your company's current business financials (if applicable).
Credit repair is a process for rebuilding your credit and improving your credit score after they've been damaged by poor credit habits, financial setbacks, identity theft, or credit reporting errors. While bogus credit repair offers are a favorite ploy of scam artists, the process itself is legal.