CREDITWRENCH admits to RICO violations

CREDITWRENCH admits to RICO violations

On this blog CREDITWRENCH CEO Bill Bauer has unwittingly admitted to a violation of the Racketeer Influenced and Corrupt Organizations Act, better known as RICO. Because, as has been previously pointed out in this blog, CREDITWRENCH CEO knows nothing about RICO, he was most likely unaware of this flagrant violation. However, his ignorance of the law doesn't lessen his liabililty under Federal Law.

On his blog, CREDITWRENCH CEO Bill Bauer states:

The Wrench now has the ability to file reports.....(with) all 3 major credit bureaus. What this means is that by working with a major national collection agency who is interested in helping to clean up their industry our students will now (as always) be keeping track of the FDCPA and FCRA violations of the collection agencies who contact them in the process of collecting debts and will be reporting the violations to me and the contacting agency will be charged $1,000 per violation.

There was no obligation incurred by the collection agencies in the above scenario. CREDITWRENCH has no legal standing to collect $1,000 per violation in the above scenario, and neither do any of his unfortunate students.

However, he continues to try to sell people on his credit repair scam using exactly the tactics he describes above. The collection agency he mentions as wanting to "clean up their industry", and his "students" are accomplice's in creating these false debts and are as equally as guilty of RICO violations as is he.

Only a court of law can award statutory damages. CREDITWRENCH CEO Bill Bauer's advertisement that he is attempting to collect invalid and illegal debt is a clear RICO violation. And, is nothing more than a false and misleading attempt to lure unsuspecting consumers into his credit repair scam.