Credit Solutions - Is it a scam company?

Chrys Henderson · Sub: #97 Replied on 11-13-2009, 08:14 PM

2 months? Why would any company start negotiating after only 2 months? One should have at least 40% of the debt ready to pay before one starts negotiating. It's really annoying to the creditors to negotiate, get them to agree to a settlement, and then say "hahaha. Our client has no money to pay you! Have a nice day!"

Unregistered · Sub: #98 Replied on 11-18-2009, 07:37 AM

Quote:

Originally Posted by mavery1946

I have been with credit solutions for about 2 month.I think it's a scam? I just talked to one of my credit card companies and they said that they have not heard anything from credit solutions about any kind of settlement. Now what do I do?

I also did the Credit Solutions Scam. That was 3 years ago. I saved the money like I was supposed to. Contacted my creditors on a monthly basis on my own. Ended up filing bankruptcy last month. Called Credit Solutions the day the bankruptcy was filed and they STILL call me 8 or more times a day plus the constant barage of emails. I can't get rid of them.

Joey Staton - AFC · Sub: #99 Replied on 11-19-2009, 10:37 AM

Sorry for 3 posts in a row....That was not my intent. I was trying to reply directly to other posters on here, and I found out it was throwing my replies to the very bottom of the pile, rather than directly beneath the posts I was replying too.
Sorry,
Joey Staton

paulmergel · Sub: #**100** Replied on 11-19-2009, 10:40 AM

so good you had to post it three times.two deleted.question,since you admit they don't fully explain how their company works that makes it okay?well no it doesn't,it is either stupidity or duplicity on the rep's part.i lean toward duplicity.you worked for a scam,and have started one of your own it seems.your posting all of your contact info,and business name is prohibited btw.

love_my_things · Sub: #**101** Replied on 11-19-2009, 10:41 AM

thats great but advertising is not allowed here and with good reason. we get enough spam, and people posing as former clients, and misleading people in the wrong direction. but if you truely want to make a difference stick around we would love to have your input.

Joey Staton · Sub: #**102** Replied on 11-20-2009, 12:14 PM

I'm still around love_my_things
paulmergel...i only stumbled upon here yesterday and didn't see anywhere that prohibited me from posting what I posted? My apologies. I simply googled Credit Solutions scam and found this to be one of the 1st hits. I'll admit I did try to advertise for free, but it's only in good nature as I know that we take care of our clients, and Credit Solutions does now.
To answer your questions though. I never once said it was okay that they don't fully explain everything, and I'm not even sure how you read that differently? That was one of the reasons I left that company. Again the company I work for now fully discloses everything to the client prior to enrollment.
Where did I state that I started my own company? I'm not being rude, ugly, or nasty, but did you honestly read my post or just skim through it? You accused me of 2 things, or which I did neither of?
Joey Staton

Joey Staton · Sub: #**103** Replied on 11-20-2009, 12:36 PM

I've become a member of the forum now as well.
Joey Staton

paulmergel · Sub: #**104** Replied on 11-20-2009, 12:50 PM

Quote:

Originally Posted by Anonymous

I also used to work for Credit Solutions of America. I quit there in March of 2007 and they attempted to sue me for $50,000 for getting a job in settlement elsewhere. Settlement is not a scam, and really Credit Solutions isn't even a scam. They don't outline everything like they should, but they do perform a service. Their main problem is that they don't follow through with the plan. They tell you that they'll have customer service follow up with you on the regular, but this doesn't happen (at least not while I was employed there). They had 250 people in the enrollment (sales) department there when I left, and they had less than 100 on the back end (customer service, settlement department, etc...)
Today I work for a much more reliable company called AFC Processing (Accredited Financial Corporation). We're members of TASC (The Association of Settlement Companies). I've helped out many people in my last few years here, and I would love to help you out as well.
We're not as large of a company and that would work towards your benefit in the long run. We assign 4 individuals to your case. You'll have me on the backburner at all times. You'll also have 1 person in contracts work with you to complete your working file. You'll then also have your own appointed customer service representative that will help field the calls from the creditors to our office. And last but certainly not least you'll have 1 person from the settlement team assigned to you as well, and this person negotiates with your creditors for you.
We have few people in sales here, and many people in the back end to assist you. Our pricing is much less expensive than Credit Solutions, and our settlements are better as well.
It can't hurt to call me. I'm probably the least pressuring person you'll talk to (something the Credit Solutions frowns upon as their sales people can be a little over the top since their coached to be that way).
I look forward to helping you out. Mention where you found me and I'll lower our service fee for you as well.
Bottom line, and what really matters. Credit Solutions = large company, tiny back end. AFC Processing = small company, large back end! This makes a huge difference on your success in debt settlement.
Joey Staton
AFC Processing
info deleted per TOS...pm

the first part states where you admit the reps don't explain the process,then don't really follow-up.or did i miss that?maybe i overstepped stating you started AFC,but your follow-up where you readliy admit to trying to advertise doesn't excuse the post.follow the TOS,and you are welcome here.mobile0311 works in the debt settlement industry too.good people are an assett.i'll chalk it up to an honest mistake.

love_my_things · Sub: #**105** Replied on 11-22-2009, 07:42 AM

i too agree that it was a honest mistake, but if you stick around you will see why your not allowed to do this. I myself got scolded pretty badly in the beginning with honest intentions. rule of thumb, never really steer anyone to anything because if you steer them to anything they will come back and come after you. you can advise without directing them to a particular company or service. This makes it thier choice in the end. In the end they are all good choices, but the choices need to fit the needs. If you have honest to goodness feel you are here to just help with a better understanding how things work, you can do that without directing and we are more than happy to welcome you.

is it too late · Sub: #**106** Replied on 11-23-2009, 06:41 PM

i contacted credit solutions and our contract starts on the 15th of December. Can i contact my bank to tell them not to allow them to get the money out.

mobile0311 · Sub: #**107** Replied on 11-24-2009, 03:56 PM

Yes you can. As long as you give your bank a 3 days heads up they have to allow you to block that ach draft.
REGULATION E
§ 205.10 Preauthorized transfers
(c) Consumer's right to stop payment

Unregistered · Sub: #**108** **Credit Solutions** Replied on 11-24-2009, 07:19 PM

don't let a credit card consolidation company tell you that debt settlement is a scam. ALL CREDIT CARD CONSOLIDATION COMPANIES ARE PAID BY CREDIT CARD COMPANIES. They make major bucks because they get fees from you and the credit card companies and you hav e to pay back all of the interest on the balances and the entire balance itself. Do your homework people, settlement companies discuss settlements with the creditors for almost half or more than half of your balance that you owe. The BBB score on credit solutions is because they have settled all but 7 complaints against them and this is because the creditors are not willing to work with settlement companies. Everyone needs to stop using credit cards all together and NOT BUY ITEMS THAT YOU KNOW YOU CAN'T AFFORD. YOU ARE THE REASON THE THE RATES ARE SO HIGH!!!!!!!!

Unregistered · Sub: #**109** Replied on 11-27-2009, 08:16 AM

Credit Solutions has helped me and 4 of my friends and family members (on 5 different occasions) eliminate our debt and get on with our lives. Those that have posted all these negative things must have enrolled and thought that they had some kind of magic wand or something. It does take some discipline and patience on the debtors part. You have to be serious and not continue to be irresponsible.

Guest744 · Sub: #**110** Replied on 12-02-2009, 09:23 AM

I am heading to my lawyers office today. I have been enrolled for over a year and have gotten one card paid off and could have done that on my own. They lead me to believe that as I paid the fees they would contact the creditors and keep up with my accounts and they did not. I continue to get calls and letters from my creditors and every time I talk to one they let me know that CSA has not contacted them ever. Not only that the agreed upon draft date for my fee was never acknowledged and would send my savings into the negative every time because they would draft before I put the money in. That account was for their drafts only. Every time I tried to cancel they would transfer me to different people until I was worn down and would agree to give them another chance. This is ridiculos. The last rep I talked to didnt deny the Attorney General's investigations (multiple states) and stated they arent part of the BBB because they have nothing to do with their business. If you check the BBBs website they recieve an F. I feel stupid that I got scammed for so long but will be takng action now.

mobile0311 · Sub: #**111** Replied on 12-02-2009, 12:20 PM

Debt Settlement is a legit way to resolve debt for people who are good candidates. However Credit Solutions Sucks.

COLLECTIONDUDE · Sub: #**112** Replied on 12-05-2009, 06:59 AM

honest to god spammer...*sigh

yes I'm in collections (if that answers your question).
Firstly, please don't lump CSA in with collection agencies. You and I both know they are 2 VERY different sorts of businesses.

I work for an accounts recievables firm (won't name it of course). I'm going to be completely honest with you all. What you pay these companies (persels & assc, llc; and CSA) to do, you could be doing yourself. Settling a debt is something that is free and takes very little brain power. Essentially, the service they are providing is stopping the collection calls, which if you just tried talking to debt collectors you would find a degree of reasonableness as long as you are reasonable yourself. In short, don't pay for a service which you could do yourself for free.

As far as CSA goes, as far as I know they don't build an esgrow account unlike most DSC companies. They bill you a monthly fee and negotiate directly with creditors and coll agencies (with a POA on file of course) for the best settlement offer, and then the settlement payments are set up through your own checking account. Then there is a charge, most likely based on a % of your savings. They tell you it could take up to 5 years to complete the program. The reason being is that during the initial period of delinquency, or the pre-charge off stage, your origional creditor still owns the debt but usually contracts an agency to collect on the account. This is where the bulk of negotiation SHOULD take place. Here is what they DON'T tell you... After 6 months the account charges off, meaning R9 on your CBR and, depending on the creditor, other steps which could include or not include litigation takes place. During which period negotiations are stopped... And stay stopped until either A) you are sued; or B) your account sits in debt purchasing within a pool of other "bad debt." for up to 3 years before being sold off to other 3rd party coll agencies.

I suppose i've drawn on long enough... Trade secred though: Depending on the creditor, if you settle yourself you can usually get a settlement anywhere between 30-40% at 5-6 months of delinquency...free of charge, free of debt.

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