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Update:
LAFAYETTE, La. (KLFY) – A Better Business Bureau Serving Acadiana complaint and subsequent investigation led the Louisiana Attorney General’s Office to issue a “cease and desist” order to Virtuous Business Consulting, based in Lafayette, and owner Jessica Chaisson.
The company was ordered to immediately stop offering credit repair services at its location at 1003 Louisiana Ave. Virtuous Business Consulting currently has an F rating with BBB.
AG’s order settles allegations that the company provided credit repair services without the required bond of $100,000, as required by state law under Louisiana Credit Repair Services Organizations Act. Under the order, the company was required to immediately stop offering credit repair services and to provide the names and contact details of anyone who used its credit repair service. The order was for settlement purposes only and should not be considered an admission of guilt.
According to BBB records, the company received a complaint from a consumer, alleging that the company accepted an upfront charge for credit repair and then never performed the service. The company did not respond to the consumer’s complaint.
BBB sent correspondence to the company on November 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 bond required , but BBB did not receive a response.
“Hearing consumer experiences helps us keep the public informed about situations like these,” said Jillian Dickerson, president and CEO of BBB Serving Acadiana.
According to the United States Credit Repair Organizations Act, “No credit repair organization shall charge or receive money or other valuable consideration for performing any service that the credit repair organization has agreed to perform for a consumer before that service is fully performed.”
When looking for credit repair or debt relief services, consider the following:
- Understand the difference between credit repair services and debt relief. Credit repair companies repair credit reports for a fee; Debt relief programs are usually programs that offer loans to consolidate debt.
- Carefully research companies on BBB.org before accepting services and ensure that the company can help resolve the situation.
- Before signing a contract, read and understand the terms and conditions, especially if it is a loan.
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