Temporary ban for N.C. credit repair company

Bryan Cohen Aug. 18, 2011, 1:24pm

RALEIGH, N.C. (Legal Newsline) - North Carolina Attorney General Roy Cooper announced on Wednesday that a a Raleigh, N.C., credit repair company that allegedly used false police reports has been temporarily barred from offering credit repair services.

Wake County Superior Court Judge Henry W. Hight signed off on Cooper's request to temporarily bar Monterrio Dieshaun Adams, doing business as M&M Business Concepts LLC, from offering services of credit repair and from charging consumers advance fees for help with their credit.

According to Cooper's complaint, Adams allegedly advertised on Craigslist that he could repair consumers' credit histories and raise their credit scores, which would make it easier to get loans or credit cards. Upfront fees for the services allegedly ranged from $150 to $2,000, with most consumers paying between $500 and $700. Under North Carolina law, it is illegal to charge an upfront fee for credit repair services.

Cooper alleges that Adams created fraudulent police reports using a computer template to falsely claim that consumers had been victims of identity theft. Adams then allegedly sent the false police report to a credit reporting agency with the goal of convincing the agency that negative information on the consumer's report was a result of identity theft.

Adams' goal was allegedly to get credit reporting agencies to raise consumers' credit scores. Since the police report and disputed information was usually sent back to the creditor for verification, the alleged scheme was discovered and, in the end, consumers got no real help with credit repair.

Cooper is seeking to permanently ban Adams' allegedly fraudulent business practices, as well as civil penalties and consumer refunds.

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