Avoid Credit Repair Scams

Rebuilding Your Credit

Credit repair companies can provide valuable services, but some are less reputable than others. If a credit repair company does the following, think twice about engaging their services:

  • They request payment up front before any services are provided. Under the Credit Repair Organizations Act (CROA), credit repair companies cannot require you to make payment until they complete the services promised.
  • They do not inform you of your rights and about what steps you can perform on your own at no cost.
  • They ask you not to contact the major credit reporting agencies - Trans Union, Equifax, and Experian - directly.
  • They claim they can eliminate most or all of the negative entries on your credit report even if those entries are accurate.
  • They claim you should dispute all entries on your credit report.

If a credit repair firm asks for or claims any of the above - find another agency to work with or consider repairing your credit on your own.


Only deposit products are FDIC insured.

The information provided is not intended to be legal, tax, or financial advice or recommendations for any specific individual, business, or circumstance. TowneBank cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided for illustrative purposes only. You are encouraged to consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.

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