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.