Ever wonder how credit repair services work? According to the FTC, they take your money, often illegally, and then perform services that are available to any and all consumers. The shops start by charging an initial registration fee from $20 to $100. This is against federal law, which prohibits payment until the repair has been performed. The shops then charge a fee to obtain your credit report, even though you can access one free copy of your report each year at AnnualCreditReport.com.
