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It is NOT illegal for a Credit Repair company in the state of Florida to charge in advance

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It is illegal for a Credit Repair company in the state of Florida to charge in advance for credit repair services?

Pursuant to Statute 817.7005 of Florida Law - It is NOT illegal - if the credit service organization has obtained a surety bond of $10,000 issued by a surety company admitted to do business in this state and has established a trust account at a federally insured bank or savings and loan association located in this state;

but shall deposit all money or other valuable consideration received in its trust account until the full and complete performance of the services it has agreed to perform for the buyer;

In Compliance with the Statute 817.7005 of the Florida Law, Municipal Credit Service Corp has obtained a surety bond of $10,000 and established a trust account, all upfront fee for affiliation received by Municipal Credit Service Corp are deposit in its trust account until the service agreed to perform for the buyer has been completed.

http://www.flsenate.gov/Laws/Statutes/2011/817.7005

 

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Municipal Credit Service Corp, advance fee, credit repair advance fee

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