Debt
Ask Jean: Concerns With Debt Settlement
Posted by Jean
“I talked to Credit Solutions today. Are they a well trusted company to go with for debt solution?” – Mica
Mica,
No, no, no. Do you know how I know this? I went on the website of the company — Credit Solutions — looked into the about the company menu and found that they are based in Dallas, Texas. Then I googled, “Credit Solutions, Dallas, BBB.” I was looking for the Better Business Bureau report on this company. It came up right on top. And it is NOT pretty. The BBB gives this company an F (and yes, that’s on a scale of A to F just like school). The BBB said this:
BBB Rating
Based on BBB files, this business has a BBB Rating of F on ascale from A+ to F.
Reasons for this rating include:
- BBB concerns with the industry in which this business operates.
- 1474 complaints filed against business
- 6 complaints filed against business that were not resolved.
- Government action(s) against business.
Click here to read the full report.
Go to debtadvice.org and find yourself a not-for-profit credit counselor. Debt Counseling, yes. Debt Settlement, rarely. I, for one, would steer clear of this company.
-Jean
COMMENTS | 2 comments so far
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Thank you for having the guts to answer this directly. Although the BBB is not always right, when there are so many complaints along with government action, this speaks for itself. More importantly, it goes to the issue that in the majority of cases, settlement is a far more damaging choice than repayment supported by counselling. Despite what their ads state…
We have been speaking with a company called Credit Advisory Group locatede in Seattle, WA. They claim they are non-profit and that they would set us up with a law firm that would contact our creditors for us. The law firm would become the power of attorney over our accounts. What are your feelings about debt settlement this way? Paula