Arkansas Among States Working with FTC Against Credit-Repair Schemes

February 4, 2006 - Posted at 1:56 p.m. CST

LITTLE ROCK (AP) _ The attorney general's office says Arkansas

is one of eight states working with the Federal Trade Commission to

crack down on so-called credit-repair companies. These are

companies that offer to correct a person's bad credit rating in

exchange for a fee.

But Attorney General Mike Beebe says these companies can't do

anything that the consumer can't do for him or herself. Beebe says

time and prompt payment of one's bills is about the only the

corrective action a person can take.

Beebe's office currently is investigating four companies.

Nationwide, 20 companies are either being investigated or have had

legal action taken against them.

(Copyright 2006 by The Associated Press. All Rights Reserved.)