Many chapters of the Better Business Bureau have automatically given credit repair organizations “F” ratings simply because they are, well, credit repair organizations. These chapters say as much in their explanation for their reviews. Specifically, the aforesaid Better Business Bureau chapters state: “BBB concerns with the industry in which this business operates.”
It is inherently unfair to give a business an “F” rating and thereby, damage a businesses reputation simply because the Better Business Bureau is “concerned” with the industry in which a business operates. Credit repair organizations provide a valuable service to consumers who would otherwise not be offered credit or high interest rates due to inaccurate items on their credit reports which falsely lower their scores. Not all credit repair organizations are “scams” which is precisely what the Better Business Bureau is implying by their statement.
One BBB chapter, however, ironically gives the credit repair organization Lexington Law an A- rating. This is despite the fact that they have 272 consumer complaints within the last 36 months.
This is hard to reconcile to say the least. In short, please note that not every word from the Better Business Bureau should be taken as the gospel and members pay for inclusion.
For more on this topic, please visit an unbiased website that offers their opinion on the practices of the Better Business Bureau at http://www.the-top-tens.com/members/credit-repair/blog/bbb-ratings-credit-repair-companies-2674.asp.
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