If a company promises this, you know its a scam [Video]

Most people have dings on their credit report that lower their score, potentially making it harder and more expensive for them to get a loan. It’s tempting in those cases to turn to a credit repair company, especially one promising an easy, quick fix.

But that can result in more issues and, according to the Federal Trade Commission, if the company you’re working with promises it can remove all negative information from your report, you know it’s a scam.

The FTC recently announced a permanent ban and some $12 million in penalties against Financial Education Services and its subsidiaries for violating the Credit Repair Organizations Act. In a 2022 suit, the FTC alleged the company preyed on consumers with low credit scores by luring them in with false promises of an easy fix and then recruiting them to join a pyramid scheme selling credit repair services to others, costing them millions.

Among the claims made by the company was that it could permanently …