LAFAYETTE, La. (KLFY) – A Better Business Bureau Serving Acadiana complaint and subsequent investigation led to the Louisiana Office of the Attorney General issuing a “cease and desist” order to Lafayette-based Virtuous Business Consulting and owner Jessica Chaisson.
The business was ordered to immediately stop performing credit repair services at their 1003 Louisiana Ave. location. Virtuous Business Consulting currently has an F rating with BBB.
The AG order settles allegations the business performed credit repair services without the required $100,000 surety bond as required by state law under the Louisiana Credit Repair Services Organizations Act. Under terms of the order, the business was required to immediately stop performing credit repair services as well as provide the names and contact information for anyone who used their credit repair service. The order was for settlement purposes only and should not be considered as an admission of guilt.
According to BBB records, the company received a complaint from a consumer, alleging the company accepted an advance fee for credit repair then never performed the service. The business did not respond to the consumer complaint.
BBB sent correspondence to the business on Nov. 4, 2020, requesting a brief description of the products or services offered, copies of marketing materials provided to their customers, copies of any service agreements provided to customers and a copy of the required surety bond but BBB didn’t received a response.
“Hearing from consumer experiences help us keep the public informed with situations such as these,” said Jillian Dickerson, BBB Serving Acadiana President and CEO.
According to the U.S. Credit Repair Organizations Act, “No credit repair organization may charge or receive any money or other valuable consideration for the performance of any service which the credit repair organization has agreed to perform for any consumer before such service is fully performed.”
When looking for credit repair services or debt relief, consider the following:
- Understand the difference between credit repair services and debt relief. Credit repair companies repair credit reports for a fee; debt relief are typically programs that offer loans to consolidate debt.
- Carefully research companies on BBB.org before agreeing to any services and make sure the company can help resolve the situation.
- Before signing any contract, read and understand the terms and conditions, especially if it involves a loan.