Draft, pending counsel review before first paying customer
This is the disclosure statement required by the federal Credit Repair Organizations Act (CROA). It is provided to you before you sign any contract or agreement with Colst Capital, LLC.
You have a right to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any credit repair company or credit repair organization has the right to have accurate, current, and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your report only if it is more than 7 years old. Bankruptcy information can be reported for 10 years.
You have a right to obtain a copy of your credit report from a credit bureau. You may be charged a reasonable fee. There is no fee, however, if you have been turned down for credit, employment, insurance, or a rental dwelling because of information in your credit report within the preceding 60 days. The credit bureau must provide someone to help you interpret the information in your credit file. You are entitled to receive a free copy of your credit report if you are unemployed and intend to apply for employment in the next 60 days, if you are a recipient of public welfare assistance, or if you have reason to believe that there is inaccurate information in your credit report due to fraud.
You have a right to sue a credit repair organization that violates the Credit Repair Organizations Act. This law prohibits deceptive practices by credit repair organizations.
You have the right to cancel your contract with any credit repair organization for any reason within 3 business days from the date you signed it.
Credit bureaus are required to follow reasonable procedures to ensure that the information they report is accurate. However, mistakes may occur. You may, on your own, notify a credit bureau in writing that you dispute the accuracy of information in your credit file. The credit bureau must then reinvestigate and modify or remove inaccurate or unverified information, usually within 30 days. However, if the credit bureau again confirms the accuracy of the information, you may file a statement with the credit bureau explaining your position. Information described in your statement, or a summary of your statement, will be included in any future report containing the disputed item.
A credit bureau may continue to report information it has verified as accurate. Neither you nor any credit repair organization has the right to have accurate, current, and verifiable information removed from your credit report.
You are entitled to a copy of this disclosure and your signed contract for your records.
Colst Capital does not charge or collect any fee before the promised services are fully performed. We do not guarantee any specific change to your credit score. We will not advise you to make any statement that is untrue or misleading to a credit bureau or any other person.
This page is a working draft. The final disclosure provided to consumers will be reviewed and approved by legal counsel and provided as a separate written document, signed and dated, before any contract is signed, as required by CROA.