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October 02, 2009

California Attorney General sues executives of credit repair company

Hats off to California Attorney General Jerry Brown.  Brown has filed litigation against Todd Swick and Michael Sardo who own Executive Financial Credit Services, a credit repair company.  California passed a law in 1984 that requires credit repair companies to register with the California Attorney General's office and post a bond with the California Secretary of State. 

Apparently, Executive Financial Credit Services has failed to do both, despite repeated warnings from the Attorney General's office.  The litigation was filed in San Diego Superior Court on September 30, 2009.  Brown wanted to send "a clear signal to credit repair firms operating in California that they must register .... and follow the law.

Credit repair companies that are paid by consumers to attempt to repair consumers' credit by disputing negative information on the consumers' credit reports.  Many credit repair companies are nothing but scams.

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