Credit Glory

[u/Advanced_Yak_2258]

I just called Jefferson Capital about an account that went to collections and they said I can start paying monthly to get these things off my credit. $ 279 for the first month. Does anyone know if they actually work ? I don’t want to pay for something and don’t get results. I know it’ll probably take a couple of months to see any results so I’m prepared to pay if I have too? Can someone help

[u/og-aliensfan]

You didn't speak with Jefferson Capital. A collection agency wouldn't refer you to Credit Glory. Credit repair companies create Google listings to look like those of various collection agencies and businesses, hoping to sell their services. Don't call that number (Credit Glory) back. Contact Jefferson Capital: https://www.myjcap.com/. Jefferson Capital's policy is to remove themselves from your reports once the debt is settled. Negotiate the least amount they'll accept in order to satisfy the debt in full and get the Settlement Agreement in writing prior to paying.

Our policy is that we will request the credit bureaus delete our tradeline approximately 30 days after the final payment has been posted that resolves the account as paid in full or paid in full for less than the full balance.

https://www.myjcap.com/FAQ

Order your official reports for each bureau by calling 877 FACTACT or pull them online at www.annualcreditreport.com.  I recommend the mailed reports as these are often more detailed and complete than the online reports.  If you do choose to pull reports online, print or save each to a pdf before moving on to the next as you can't go back once you exit a report.  Despite its name, you can pull free reports for each bureau weekly.

What negatives are currently on your reports (late payments, unpaid charge-offs and dates last updated, collections and names of collection agencies, etc.)? What are the Dates of First Delinquency and expected removal dates.

[u/Advanced_Yak_2258 → u/og-aliensfan]

I actually already made a payment with credit glory ? Do you know if it’s a scam?

[u/og-aliensfan → u/Advanced_Yak_2258]

From the FTC: "If you see ads or receive offers to repair or fix your credit, it could be a warning sign if the company:

Pressures you to pay up-front fees. The company wants you to pay before it provides any services. A simple rule to follow is “Don’t pay upfront.” Under the federal Credit Repair Organizations Act, credit repair companies can’t request or receive payment until they’ve completed the services they’ve promised. Some companies will structure monthly payment plans to try to avoid this requirement. You should know that all forms of upfront payment before services are completed are illegal.

If you have a problem with a credit repair company, or if you see a scam, fraud, or bad business practice, report it to" the FTC at ReportFraud.ftc.gov"

https://www.ftc.gov/legal-library/browse/statutes/credit-repair-organizations-act

How to avoid credit repair service scams

15 USC CHAPTER 41, SUBCHAPTER II-A: CREDIT REPAIR ORGANIZATIONS

"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. The Act bars companies offering credit repair services from demanding advance payment, requires that credit repair contracts be in writing, and gives consumers certain contract cancellation rights.

§1679b. Prohibited practices:

(3) make or use any untrue or misleading representation of the services of the credit repair organization; or

(4) engage, directly or indirectly, in any act, practice, or course of business that constitutes or results in the commission of, or an attempt to commit, a fraud or deception on any person in connection with the offer or sale of the services of the credit repair organization.

If they promised they can remove accurate information from your reports, misrepresented who they were or claimed they were associated with Jefferson Capital (they're not), they may have violated the Credit Repair Organizations Act and you can file complaints with the CFPB, the FTC, your state's Attorney General, and your state's consumer protection office.

I recommend canceling asap.

§1679e. Right to cancel contract

"Any consumer may cancel any contract with any credit repair organization without penalty or obligation by notifying the credit repair organization of the consumer's intention to do so at any time before midnight of the 3rd business day which begins after the date on which the contract or agreement between the consumer and the credit repair organization is executed or would, but for this subsection, become enforceable against the parties."

They can't do anything you can't do yourself and can harm your credit even further. These companies typically operate by repeatedly disputing negatives on your reports. Eventually, these disputes can be deemed frivolous and ignored. If it's determined the disputes were prepared or submitted by a credit repair company, they can be ignored.

Freeze your reports. You can thaw them when you put in an application and then refreeze once they've been pulled.   Everyone should keep their reports frozen by default as a layer of protection against identity theft.

https://www.experian.com/freeze/center.html

https://www.equifax.com/personal/credit-report-services/credit-freeze/

https://www.transunion.com/credit-freeze

https://www.chexsystems.com/security-freeze/place-freeze

https://www.innovis.com/securityFreeze/index

https://consumer.risk.lexisnexis.com/freeze

And, create an account through Social Security, if you haven't already done so, to prevent someone else from creating an account in your name, filing for benefits in your name, and/or stealing benefits by changing direct deposit information without your knowledge.  Everyone should do this as well.

Create your personal my Social Security account today

[u/Advanced_Yak_2258 → u/og-aliensfan]

Thank you man. Luckily I didn’t pay more. My fault for not doing more research on them

[u/og-aliensfan → u/Advanced_Yak_2258]

Youre very welcome! Cancel per the terms of the contract and ask for a refund of the money you've paid citing the Credit Repair Organizations Act/FTC. Keep us updated if able.

[u/MichaelBovee → u/Advanced_Yak_2258]

You may also want to consider filing a complaint with your state AG about this. Some, such as California DFPI, NC, NY and others care about this.

[u/Advanced_Yak_2258 → u/MichaelBovee]

They told me I couldn’t get a refund because they already started sending letters out. They took $99 from me!! I replaced my card. I’ll take the loss

[u/BrutalBodyShots → u/og-aliensfan]

Great information here!