Consumer Law and Disclosures
The FTC and Credit Repair
Fraudulent credit repair companies have long been the target of FTC investigations, culminating most recently in Project Credit Despair which snared 20 credit repair companies in February 2006.
The Federal Trade Commission (FTC) is responsible for enforcing consumer protection laws in the United States.
In its capacity, the FTC offers a number of suggestions and warnings to consumers regarding credit repair organizations.
Beware of credit repair services that request fees in advance
Phoenix Company does not charge you in advance for any services. It charges you only after the first-work, and the subsequent work from each month, has been performed.
Beware of credit repair services that don't disclose your rights
Consumers have the right to attempt credit repair on their own. Phoenix Company offers its affordable services to those clients who prefer having professionals managing their credit disputes and creditor interventions.
Beware of credit repair services that advocate "new" identities
It is unlawful to create a "new" identity by applying for an Employer Identification Number (EIN) to replace one's Social Security Number. File segregation is a serious crime that can result in fines or imprisonment.
Beware of credit repair firms that misrepresent their expertise
Claims such as "25 years of experience" can be misleading. That number often represents the combined years of staff experience, not the actual length of time that the firm has been in business.
Beware of companies that imply FTC endorsement
The FTC does not endorse any business. If a credit repair organization implies FTC endorsement, you would do well to proceed with caution.
Beware of companies that are not Bonded and State Registered
Surety Bonding and State Registration are key aspects of hiring competent and legal professionals to represent your credit disputes and creditor interventions.
There are laws in place to protect the consumer from inaccurate and unverifiable credit reporting!
Phoenix Company Credit Repair makes sure that these laws are being followed. Our first step is to audit the credit bureaus or creditors using the Fair Debt Collection Practices Act and the Fair Credit Reporting Act. These two laws have been established to protect consumers like you. Creditors and credit bureaus are legally obligated to produce documented evidence within a reasonable amount of time, generally 30 days, to back the claims they make about you. If our investigation proves that they cannot validate their claims, they must promptly remove any undocumented information from your credit report.
A study by the U.S. Public Interest Research Group found that 70 percent of all credit reports contained errors. These black marks in your credit history can have devastating consequences:
The most valuable thing we have is our good name. As consumers, the most common reflection of our reputation as someone who pays bills on time, is trustworthy and financially sound is our credit report. Unfortunately, the information contained in our credit reports, which are bought and sold daily to nearly anyone who requests and pays for them, does not always tell a true story.
Credit bureaus collect and compile information about consumer credit worthiness from banks and other creditors and from public record sources such as lawsuits, tax liens and legal judgements. The three major credit bureaus -- Experian (formerly TRW), Equifax, and Trans Union -- maintain files on nearly 90 percent of all American adults. Those files are routinely sold to credit lenders, landlords, employers, insurance companies, and many others interested in the credit record of a consumer, often (legally) without the consumer's knowledge or permission. Conversely, consumers rarely check their credit record until after they've been denied or otherwise encountered a problem. Throughout the 1990s, credit report errors have been a serious problem that several states and Congress have addressed.
This is the PIRGs' sixth study on credit report accuracy and privacy issues since 1991. The PIRGs have also participated in state and federal legislative battles to improve credit reporting laws. This report is our first investigation of credit report accuracy since 1996 Congressional changes to the federal Fair Credit Reporting Act (FCRA), designed to improve the accuracy and ease of access to reports, took effect in September 1997. The findings of Mistakes Can Happen are troubling. An alarming number of credit reports contain serious errors that could cause the denial of credit, a loan, or even a job. Further, some consumers never even received their reports, even after repeated calls.
Among the major credit report accuracy findings of the survey:
- Twenty-nine percent (29%) of the credit reports contained serious errors - false delinquencies or accounts that did not belong to the consumer - that could result in the denial of credit
- Forty-one percent (41%) of the credit reports contained personal demographic identifying information that was misspelled, long-outdated, belonged to a stranger, or was otherwise incorrect
- Twenty percent (20%) of the credit reports were missing major credit, loan, mortgage, or other consumer accounts that demonstrate the credit worthiness of the consumer
- Twenty-six percent (26%) of the credit reports contained credit accounts that had been closed by the consumer but incorrectly remained listed as open
- Altogether, 70% of the credit reports contained either serious errors or other mistakes of some kind.
- Of the consumers that did obtain their credit reports, at least 14% of them were forced to call back 3 or more times after receiving busy signals or had to write a letter in order to receive their report
- And 12% of the consumers waited two weeks or longer to receive their report once they finished requesting it. It took more than a month for one California man to receive his report.
- Overall, 15% of consumers who attempted to participate in the survey either made at least 3 phone calls and never got through or requested their reports but never received them.
Among the surveys major access to credit report findings:
Your privacy is a top priority for Phoenix Company. With Phoenix Company, privacy is built in. We've designed our service to enable people to pay without exposing their financial information.
Director of Privacy
This policy describes the ways we collect, store, use and protect your personal information. You accepted this policy when you signed up for our Service. We may amend this policy at any time by posting a revised version on our website. The revised version will be effective at the time we post it. In addition, if the revised version includes a substantial change, we will provide you with 30 days' prior notice by posting notice of the change on the "Policy Updates" page of our website. We last modified this Policy on August 15th, 2007.
How we collect information about you
When you visit the Phoenix Company website, we collect your IP address and standard web log information, such as your browser type and the pages you accessed on our website.
If you open an account, we collect the following types of information from you:
- Contact information - your name, address, phone, email, Skype ID and other similar information.
- Financial information - the bank account numbers and credit card numbers that you link to your Phoenix Company account.
Before permitting you to use our Service, we may require you to provide additional information we can use to verify your identity or address or manage risk, such as your date of birth, social security number or other information.
We may also obtain information about you from third parties such as credit bureaus and identity verification services.
When you are using our Service, we collect information about your account transactions and we may collect information about your computer or other access device for fraud prevention purposes. Finally, we may collect additional information from or about you in other ways not specifically described here. For example, we may collect information related to your contact with our customer support team or store results when you respond to a survey.
When you access our website, we, or companies we hire to track how our website is used, may place small data files called "cookies" on your computer.
We send a "session cookie" to your computer when you log in to your account. This type of cookie helps us to recognize you if you visit multiple pages on our site during the same session, so that we don't need to ask you for your password on each page. Once you log out or close your browser, this cookie expires and no longer has any effect.
We also use longer-lasting cookies to display your e-mail address on our sign-in form, so that you don't need to retype the e-mail address each time you log in to your account.
We encode our cookies so that only we can interpret the information stored in them. You are free to decline our cookies if your browser permits, but doing so may interfere with your use of our website.
How we protect and store personal information
Throughout this policy, we use the term "personal information" to describe information that can be associated with a specific person and can be used to identify that person. We do not consider personal information to include information that has been anonymized so that it does not identify a specific user.
We store and process your personal information on our computers in the US, and we protect it by maintaining physical, electronic and procedural safeguards in compliance with applicable US federal and state regulations. We use computer safeguards such as firewalls and data encryption, we enforce physical access controls to our buildings and files, and we authorize access to personal information only for those employees who require it to fulfill their job responsibilities.
How we use the personal information we collect
Our primary purpose in collecting personal information is to provide you with a safe, smooth, efficient, and customized experience. We may use your personal information to:
- provide the services and customer support you request;
- process transactions and send notices about your transactions
- resolve disputes, collect fees, and troubleshoot problems;
- prevent potentially prohibited or illegal activities, and enforce our User Agreement;
- customize, measure, and improve our services and the content and layout of our website;
- send you targeted marketing, service update notices, and promotional offers based on your communication preferences from our affiliate companies;
- compare information for accuracy and verify it with third parties.
How we share personal information with other Phoenix Company users
To process your payments, we need to share some of your personal information with the person or company that you are paying. Your contact information, date of sign-up, the number of payments you have received from verified Phoenix Company customers, and whether you have verified control of a bank account are displayed to other Phoenix Company customers who you transact with through Phoenix Company.
If you are buying goods or services and pay through Phoenix Company, we may provide the seller with the shipping address for the goods and your confirmed credit card billing address to complete your transaction with the seller. The seller is not allowed to use this information to market their services to you unless you have agreed to it.
We work with merchants to enable them to accept payments from you using Phoenix Company. In doing so, a merchant may share information about you with us, such as your email address, when you attempt to pay that merchant. We use this information to confirm to that merchant that you are a Phoenix Company customer and that the merchant should enable Phoenix Company as a form of payment for your purchase.
Regardless, we will not disclose your credit card number or bank account number to anyone you have paid or who has paid you through Phoenix Company, except with your express permission or if we are required to do so to comply with a subpoena or other legal process.
How we share personal information with other parties
We may share your personal information with:
- Members of our corporate family (these are companies owned by our parent,) to help detect and prevent potentially illegal acts, provide joint services and for other business purposes. However, these corporate affiliates will not use this information to market their services to you unless you have approved it.
- Service providers under contract who help with parts of our business operations; (fraud prevention, bill collection, marketing, technology services). Our contracts dictate that these service providers only use your information in connection with the services they perform for us and not for their own benefit.
- Financial institutions that we partner with to jointly create and offer a product such as the Phoenix Company Plus credit card where we share information with Banks to determine whether you should receive pre-approved offers for the Phoenix Company credit card an related product line programs. These financial institutions may only use this information to market Phoenix Company-related products, unless you have given consent for other uses.
- Credit bureaus to report outstanding negative balance accounts, as allowed by law.
- Law enforcement, government officials, or other third parties when
- we are compelled to do so by a subpoena, court order or similar legal procedure
- we need to do so to comply with law
- we believe in good faith that the disclosure of personal information is necessary to prevent physical harm or financial loss, to report suspected illegal activity, or to investigate violations of our User Agreement.
- Other third parties and affiliated companies with your consent or direction to do so indicated by the nature of your services agreement.
Phoenix Company only shares your personal information with third parties as described in this policy and acknowledged in the services agreement..
How you can restrict Phoenix Company from sharing your personal information
Federal and state laws allow you to restrict the sharing of your personal information in certain instances. However, these laws also state that you cannot restrict other types of sharing. Because we have chosen to refrain from certain types of data sharing, the only type of sharing of your personal information that you may restrict is as follows:
If you do not want Phoenix Company to share your personal information with other financial institutions for the purpose of marketing our jointly offered products to you, please send written directives to: Phoenix Company PO BOX 568, Denton, TX 76202
You can also control how we use your contact information to market our services to you in the notifications preferences.
How you can access or change your personal information
You can review your personal information and make any necessary changes, at any time by sending written directives to: Phoenix Company PO BOX 568, Denton, TX 76202
How you can contact us about privacy questions
If you have questions or concerns regarding this policy, you should contact us by using the "Contact Us" feature on our site or by writing to us at: Phoenix Company PO BOX 568, Denton, TX 76202
Acceptance of Agreement
Phoenix Company is not an agent of either you, the consumer, any of our advertising partners, or any other company. Phoenix Company's services are to advertise other Company's offers, and provide credit repair resources. You should rely on your own judgment in deciding to use the Phoenix Company advertising system. You are under no obligation to use Phoenix Company to commence with your service request marketing form, and Phoenix Company does not guarantee that completing a service request marketing form will result in your receiving your requested service. Your request is NOT an application for credit. Phoenix Company does not charge you the consumer, any fees for its services. Phoenix Company may receive a fee from its advertising Partners for the advertising and marketing provided by Phoenix Company. We will perform the following services for you: (1) make Service request marketing forms available to you; (2) transmit your service request marketing form to participating service Partners in our advertising network; (3) offer you access to general educational information concerning Partner offers. You authorize Phoenix Company's to provide your service request marketing form's information to our advertising Partners, and authorize those advertising Partners to check your credit history if you provide your Social Security number in the service request marketing form if the advertising partner deems it necessary in their judgment to provide you the requested service request . If you do not fill out the complete service request marketing form on our website, or leave portions of the form incomplete, Phoenix Company will transmit your non-completed service request marketing form to an advertising partner who may help you complete your service request, and may extend you your requested offer. By completing any portion of the service request marketing form, you authorize Phoenix Company to transmit your service request marketing form to advertising partners. You understand that Advertising Partners may keep your service request form even though that may not provide you the service requested. Phoenix Company does not endorse or recommend the service or products of any Partner. You agree that Phoenix Company shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of such services or our Service Request Marketing Form. Phoenix Company does not guarantee acceptance into any particular service request. Likewise, Phoenix Company does not guarantee that your request will be made available. By entering any information on our website, you are extending an express invitation and consent to receive an offer, and any and all offers in the future via mail, telephone, cell phone, SMS, email, or any other delivery method deemed appropriate by the offering party, regarding your request, or any other type of service deemed appropriate by us or our advertising partners.
You agree to indemnify, defend and hold us and our partners, agents, officers, directors, employees, subcontractors, successors, assigns, third party suppliers of information and documents, attorneys, advertisers, product and service providers, and affiliates (collectively, "Affiliated Parties") harmless from any liability, loss, claim and expense, including reasonable attorney's fees,
USE OF THE SITE IS AT YOUR SOLE RISK AND IS WITHOUT WARRANTIES OF ANY KIND BY US, EXPRESSED, IMPLIED OR OTHERWISE, INCLUDING WARRANTIES OF TITLE, FITNESS FOR PURPOSE, MERCHANTABILITY OR NON-INFRINGEMENT. UNDER NO CIRCUMSTANCES ARE WE LIABLE FOR ANY DAMAGES ARISING FROM THE TRANSACTIONS BETWEEN CONSUMERS, LEAD BUYERS, LEAD SELLERS, OR FOR ANY INFORMATION APPEARING ON LEAD BUYERS OR LEAD SELLERS WEBSITES.
We are serious about protecting your online privacy. This Privacy Statement explains our views and practices concerning privacy, and how they may pertain to you as a user of our system.
"You" or "Your" means you as a participant in or as a user of our Online Application, or Program. "We" or "Our" or "Us" means our Company Phoenix Company. "Our site" means the site you submit your online request on.
All information transmitted, printed or otherwise submitted to us via this website shall be deemed to be the property of US and we shall be free to use such information for any lawful purpose as detailed herein.
This site may contain links to other sites and we are not responsible for the privacy practices or the content of such sites.
We reserve the right to release such information to law enforcement or other governmental officials as we, in our sole and absolute discretion, deem necessary to comply with the law.
We may collect and/or track the following:
(1) Web page HTTP headers (including the home server domain names, referring web page, IP address, type of client computer, and type of Web browser);
(2) Information knowingly provided by you through on-line forms, registration forms, surveys, and/or other entries, such as email addresses, personal, financial or demographic information;
(3) Information, user specific or aggregate, on what pages our visitors access and
(4) The e-mail addresses of visitors that communicate with US via e-mail.
Use of Data Collected
We may use your personal, demographic and profile data to enhance your experience at our site and to enable us to present content we believe you might be interested in. We use your contact information to send you information about our company, or our Partners. We may also use your personal, demographic and profile data to improve our site, for statistical analysis, for marketing and promotional purposes, for demonstration purposes, and for editorial or feedback purposes for our advertisers. Information collected by us may be added to our databases and used to contact you via e-mails, telephone, or postal mailings regarding site updates, new products and services, upcoming events, and/or status of orders placed online.
Disclosure of Data to Third Parties
If you choose to provide personal information, it will be used for the following purposes:
(1) Sharing of your information with trusted third parties.
(2) For marketing products and services which we determine, in our sole judgment, that you might find of interest. We reserve the right to share, rent, sell, or otherwise disclose data we collect to third parties. Any third party we share, rent, sell, or otherwise disclose data to will be carefully prescreened by us, determined by us to be reputable, and will use the personal data for marketing products and services which we determine, in our sole judgment, that you might find of interest.
Your Opt-Out Rights
You may opt-out of receiving communications from us and or our partners by not submitting your information. We also allow you to remove your information from our database. If you remove your information from our database it will no longer be used by us for secondary purposes, disclosed to third parties, or used by us or third parties to send promotional correspondence to you. You can remove your information by sending your request in writing via email by using our "Contact us" page. Enrolled clients will have their information maintained for a period of two years as required by law.
Your Rights to Your Personal Data
Upon request via postal mail or e-mail, we will provide you a summary of personal information retained by us. We will only send your personal records to your e-mail address or postal address we have on file for you. To modify, correct, change, update or remove your personal record from our database, your request via email by using our "Contact us" page. In the event of service agreement defaults, no information will be released.
We Do Not Intend To Collect Data from Children
The information and services provided to us, our affiliates, sponsors, and advertisers are not intended to be viewed by children (under 18 years old). No information collected from children is knowingly used for any marketing or promotional purposes whatsoever, either inside or outside our organization.
Our Right to Contact You
Our Right to Change
We reserve the right to change this policy at any time by posting the changes online at our site.
Our Contact Information
If you have any questions about this privacy statement, the practices of this site, or your dealings with this website, you can contact us by using our "Contact us" page.
Anti Spam Policy; Can-Spam Act Compliance
We are dedicated to ensuring compliance with the 'Can-Spam Act', which took effect January 1, 2004. You may receive email from us in the following circumstances:
- Acknowledging your application has been received and requesting additional action
- Requests for additional information to support your current application
- Response to your inquiries
- Thanking you for your valued business
- Advertisements for our products, services, changes in services, new product availability
- Advertisements for third party products and services where we have determined that such product or service may be of interest to our customers
To ensure compliance with the Can-Spam Act, We have implemented the following guidelines for email delivery:
- All emails sent to you by US will identify Phoenix Company as the sender.
- The Subject Line of any email you receive will always accurately describe the subject matter of the email.
- Any email from us includes the ability to unsubscribe from future email messages.
- Unsubscribing will ensure the customer is removed from ALL lists at Phoenix Company. This excludes customer service emails, or email from our Partners.
All emails sent to you directly by US include valid postal address information in the footer. The address for Phoenix Company is:
PO BOX 568
Denton, Texas 76202
Emails sent to you directly by us will include an email address and physical address where you can send suggestions, complaints or other correspondence.
All third party marketing partners are required to comply with the Can-Spam Act.
Phoenix Company and its affiliated sites use only an "opt-in or opt out" method of obtaining customer information, and it is not our policy to send unsolicited email. We obtain email addresses and personal information from third parties that follow the same set of policies.
From time to time, we will enter into an arrangement with a third party website to allow individuals to opt into our marketing program on those third party websites. In each case the third party websites have represented and warranted to us, among other things,
(1) That the data was collected voluntarily from individuals on website registrations and co-registrations,
(2) That the sellers have a right, under any applicable privacy statements, to transfer the data to us, and
(3) That we have the right to send marketing offers to the individuals.
Phoenix Company understands consumers concerns over the use of their personal information. We hope this information satisfies any questions or concerns you may have regarding the email practices of Phoenix Company. If you have additional questions or wish to discuss this matter further, please contact us below or by mail at:
PO BOX 568
Denton, Texas 76202