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Your credit score affects whether you can get a loan — and how much you’ll have to pay to borrow money. People with low credit scores often have to pay more. So when a company says they’ll help you pay your way to a higher credit score, you might be tempted to listen. But don’t waste your hard-earned money: effective credit repair takes time and effort.

In its complaint against the operators of BoostMyScore.net (BMS), the FTC says the defendants guaranteed that, for a fee ranging from $325 to $4,000, someone could “piggyback” on other people’s good credit, artificially inflating clients’ credit scores in the process.

The FTC says BMS promised people’s credit scores would increase by anywhere from 100 to 120 points over two to six weeks, a result they couldn’t possibly guarantee or reliably deliver. The FTC also says BMS charged upfront fees for the credit repair services they offered, which is against the law. The Credit Repair Organization Act (CROA) makes it illegal for credit repair companies to lie about what they can do for you, and to charge you before they’ve performed their services.

As part of a proposed settlement announced today, the defendants will be banned from selling fake access to another person’s credit as an authorized user, and from collecting advance fees for credit repair services.

If your credit is less than golden, there are steps you can take to repair it on your own, including paying your bills by the due date, paying off debt — especially on your credit cards — and not taking on new debt.

If you’re in debt, a reputable credit counseling organization may be able to help. Good credit counselors spend time discussing your entire financial situation with you before coming up with a personalized plan to solve your money problems. They won’t promise to fix all your problems or ask you to pay a lot of money before doing anything. To learn more, visit Dealing with Debt.

Want more information on FTC cases like BMS? Sign up for our consumer alerts. If you come across any suspicious claims, report them to the FTC at ftc.gov/complaint.

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The purpose of this blog and its comments section is to inform readers about Federal Trade Commission activity, and share information to help them avoid, report, and recover from fraud, scams, and bad business practices. Your thoughts, ideas, and concerns are welcome, and we encourage comments. But keep in mind, this is a moderated blog. We review all comments before they are posted, and we won’t post comments that don’t comply with our commenting policy. We expect commenters to treat each other and the blog writers with respect.

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Paul
March 09, 2020
I am so Thankful for the wisdom you pass to those who have none. I am so happy to read all these emails and happy to receive them
Voliver69
March 10, 2020
Is it possible to recover money I was charged several years ago by a fraudulent credit repair company?
Tjeanc
March 10, 2020
Yeah I'm aware that the credit report it's a hindrance on quite a few things in my life the only problem is half the stuff on my credit report is not mine absolutely not I don't know where half that stuff came from it's exhausting to even look at it I can't get a job I've depleted my IRA I wouldn't hire me either if I looked at my credit report but the sad thing is most of it's not mine I don't even know where to start
FTC Staff
March 12, 2020

In reply to by Tjeanc

You can dispute errors on your credit report

We have an article that explains how to dispute errors, and a sample letter you can send to a credit reporting company to explain what you think is wrong.

You may also want to talk with a credit counselor. Good credit counselors spend time and discuss your financial situation with you before coming up with a personalized plan to solve your money problems.The US Cooperative Extension supports Universities in many states that offer non-profit credit counseling. You could look for a credit counselor in your state.

FTC Staff
March 12, 2020

In reply to by Tjeanc

You can dispute errors on your credit report

We have an article that explains how to dispute errors, and a sample letter you can send to a credit reporting company to explain what you think is wrong.

You may also want to talk with a credit counselor. Good credit counselors spend time and discuss your financial situation with you before coming up with a personalized plan to solve your money problems.The US Cooperative Extension supports Universities in many states that offer non-profit credit counseling. You could look for a credit counselor in your state.

DontPreyOnMe
March 10, 2020
Was the FTC able to get victims money back for them? Were any fines assessed against Boost My Score? Were any criminal charges filed? I wouldn't want to be in those guys shoes on judgement day.
FTC Staff
March 13, 2020

In reply to by DontPreyOnMe

Under the terms of the proposed settlement with the FTC that will soon be filed with the court, BoostMyScore, LLC, BMS, Inc., and William O. Airy will be prohibited from selling fake access to another consumer’s credit as an authorized user, and from collecting advance fees for credit repair services, as well as other violations of CROA.

They will also be prohibited from misrepresenting a product or service as being legal and misrepresenting the terms of a refund or return policy; They will also be banned from further violations of the TSR.

The settlement includes a monetary judgment of $6,630,678, which will be partially suspended upon payment of $64,863 due to the defendants’ inability to pay. If the defendants are found to have misrepresented their financial condition, the full judgment would be immediately payable.

Carl Bowles
March 10, 2020
Thanks FTC for catching those crooks.
mommahoney
March 11, 2020
Thank you for the information
Alfredo1230
June 07, 2020
she not money back due it $575.00 past months last nov. she pull to me $575.00 for her got computer by amazon her account...i am knew it about she fool to me....this month due back $575.00...how her money back to me!! please help me FTC