Credit Remedy, LLC Members Code of Professional Ethics
With the kind of trust that is delegated to credit repair professionals by members of the public who may engage their services to build or repair credit, it is imperative that a predetermined Code of Professional Ethics govern our members.
This Code of Ethics has been formulated to serve as a standard model of specified behavior that is well above the barest minimum expected of a credit repair professional. The Code aims to prescribe ethical standards for the conduct of its members in order to ensure that members comply with requirements as specified by the Code.
These bonds are binding on all members without exception, and are of an obligatory nature. Violation of these Bonds will constitute a violation of terms of membership and will be construed as grounds for disciplinary action.
Bond 1
Absolute in the Code of Professional Ethics is the obligation on each member to abide by all bonds as listed in this Code, without exceptions.
Bond 2
Absolute in the Code of Professional Ethics is the obligation on each member to refrain from insisting or asking for payment in full prior to services being fully rendered. This is unethical and a violation of the Credit Repair Organizations Act.
Bond 3
Absolute in the Code of Professional Ethics is the obligation that no member will discriminate against clients based on race, gender, sexual orientation, ethnic origins, or political persuasion.
Bond 4
Absolute in the Code of Professional Ethics is the obligation that a member will at all costs refrain from giving illegal advice of any kind to his or her clients. Advice that pertains to “creating a new identity” by applying for an Employee Identification Number (EIN) constitutes one such form of illegal advice. This sort of creation of a separate identity (separate from the old one with bad credit) is known as file segregation, and will not only lead to debarment from membership but will also make the member liable for prosecution, leading to possible fines and even jail terms.
Bond 5
Absolute in the Code of Professional Ethics is the obligation that a Member will inform the client of his or her legal rights. The member will pass on to the client any information he or she may have concerning how the client may be able to repair his or her credit free.
Bond 6
All members are required to continuously educate themselves and update their professional skills to serve the interests of their clients. Those may include classes offered by Credit Remedy, LLC, attending Yearly Credit Remedy, LLC conferences, participating in online Credit Remedy, LLC seminars and interacting on the Credit Remedy, LLC membership site.
Bond 7
Absolute in the Code of Professional Ethics is the obligation that a Member will under no circumstance promise results from his or her credit repair practices. No specific guarantees of any kind pertaining to the results of his or her efforts may be made, and the member is required to make the client fully aware of what the results of a member’s credit repair procedures may be.
Bond 8
Absolute in the Code of Professional Ethics is the obligation that a Member will present the client with the “Consumer Rights under State and Federal Law” document. The Member will obtain the signature of the client on this document and keep it on file for a minimum of three years.
Bond 9
Absolute in the Code of Professional Ethics is the obligation that a Member shall at all times place the interests of the client above monetary concerns. The member will use his or her professional skills to ensure that the client receives maximum benefits from his or her services.
Bond 10
Absolute in the Code of Professional Ethics is the obligation that a member will not share financial information pertaining to the client’s credit reports with another member or with a third party. However, this convention may be relaxed in case of a need to discuss the matter with a party who requires access to the information for the discharge of his or her professional duties. The member will obtain a signed document from the client authorizing the release of such information to a third party.
Bond 11
Absolute in the Code of Professional Ethics is the obligation that a member will adhere to the provisions of the Credit Repair Organizations Act. Among other things, the Act explicitly forbids making any untrue or misleading statements pertaining to a client’s credit worthiness or financial capacity.
Bond 12
Absolute in the Code of Professional Ethics is the obligation that a Member will provide to the client an agreement stipulating the services that are to be performed, and any assurances regarding these services. This agreement will also reflect the expected costs to the client for these services, and the date by which the services are to be completed. This statement will then be signed, dated and a copy presented to the client.
Bond 13
Absolute in the Code of Professional Ethics is the obligation that a Member will provide the client with the official printed Credit Remedy, LLC statement and a copy of his or her current and valid membership to Credit Remedy, LLC.
Bond 14
Absolute in the Code of Professional Ethics is the obligation that a Member will abide by any final ruling made by Credit Remedy, LLC when mediating any client disputes. The final ruling will stand and the member will not have any recourse against Credit Remedy, LLC, its members, board of directors or the client filing the dispute.
Bond 15
Absolute in the Code of Professional Ethics is the obligation that a Member will abide by state licensing requirements. The Credit Remedy, LLC member must be licensed in the home state he or she conducts business as a Credit professional, unless state exemptions apply.