Credit Repair Information
“The Tennessee Consumer Protection Act § 47-18-1001 requires Credit Services Businesses, also known as Credit Repair Companies, to register with the Tennessee Division of Consumer Affairs and to obtain a $100,000 Surety Bond. This bond is for the consumer’s protection against fraudulent business practices. These companies are also required to allow consumers five (5) business days to cancel a contract for service.”–From the Tennessee Consumer Affairs Division web page.
Consumer can click on a link on this page to find the companies that have complied with this law.
Also there are links to documents that are designed to help consumers learn more about credit service businesses, credit repair, and debt management plans.