TASC Fights the BBB

I've seen a lot of discussion back and forth here about how useful the BBB is as a resource. Some have taken the stance that their rating system is unfair, and others hold the BBB as an end all be all resource for finding a company.

Recently there has been some discussion alluding to the BBB having a bias toward the Debt Settlement industry with not much information backing the argument either way. The following article is pretty telling that the BBB does indeed have a bias and is becoming a worse and worse resource for finding a debt settlement company.

Link Deleted. Please review the TOS - ND

With all the scam companies popping up ripping people off left and right, I'd caution people against using a company's rating with the BBB as a good indicator of their quality.

this has been a pretty big discussion around here about the bbb unfair ratings. If searching for a settlement company on the bbb we have concluded that you can still use it only disregaurd the rating and check complaints to see if they are resolved.

keep in mind settlement companies usually have a good bit of complaints due to the nature of the business, but if all complaints are resolved then they did as promised

Oops, I misread the TOS. Here is the inactive link I refered to above:
"www.credit.com/news/experts/2009-03-12/settlement-companies-protest-better-business-bureau-rating-system.html"

Edit: I have no idea how to make the link inactive. I have disabled HTML and removed the url tag and it still shows as an active link. If this is still bad, could a moderator please PM me how to properly post external links.

I think you should disregard if the complaints were resolved or not. You should pay close attention to HOW many and WHAT kinds of complaints. And the TASC is no better than the BBB. People have to KNOW about the TASC to complain. And I tell you....NO ONE KNOWS ABOUT THEM. That's why there are NEVER any complaints. I've never heard of them until fiddling around on this site. But EVERYONE knows about the BBB. The TASC right now is a useless entity. Freedom Debt Relief is still an accredited member of the TASC even though they have Government AG actions against them. As well as deceptive names to fool you that all lead to one company. Just read all I had to say about them on this site as well as the TASC.

Reason is all you need. I know it upsets people sometimes with my straight forward and blunt delivery but I always look at things in a logical way. When I don't I get in trouble.

And last. You can't look at something in a logical way unless you UNDERSTAND what it is you are looking at. When you don't UNDERSTAND something EVERYTHING makes sense. Example...(The rule of thought way back when was that the Earth was round) Made sense didn't it? Or (The sun revolved around the Earth) again made sense didn't it?

If you want to use this industry you better LEARN about it first. There are no regulations as of now. It's a scammers paradise.

You cant disregard if they have been settled. Love_my is right when she says you have to understand the nature of business they are in. Everyone is going to file a complaint... Just like every prisoner in jail is complaining about everything.

See......people want to pick an choose what they want to except from the BBB and what they will not. They say the BBB is bias. Ok.....if you believe that disregard the whole BBB completely. You can't say "Oh they are full of it in reporting the truth (Liars to the core) but they got the resolve complaints right."..LOL. That's absurd thinking. You can't have it both ways. But as a consumer that stuff should be pie in the sky who cares mumbo jumbo. You don't have time for that. Let someone else play politician. If there are complaints about someone, something or some place (and I mean a lot of them) you have to become skeptical PERIOD. I don't care what the complaint was about. Who cares if it was resolved or not? Obviously something is WRONG. This isn't going to a store and paying for your product and you leave. This is paying the store and hoping you get a product in the mail. And the way things are going YOU ARE NOT GETTING YOUR PRODUCT 9 OUT OF 10 TIMES IN THIS INDUSTRY. Then they tell you that you will not get a refund either.

If someone continues to be accused of being a criminal over and over again would you want to do business with that person? Now you all know you wouldn't. What makes a company any different? You have a lot to lose here.

5 THINGS YOU MAY NOT KNOW ABOUT THE BBB

check out bbbroundup . com to read more about the BBB's biased rating system.

Like I said Mobile "Let someone else play politician" We don't have time for that. How MANY complaints is KEY. Grade??? TASC???? BBB???? Who cares? Now to the question: Where should I spend my money? ALWAYS LOCAL CONSUMER LAWYER!!!!!!!!!!!!!!!

And for the record when I joined Hess Kennedy they had a very good record at the BBB. Campos too. We all know the outcome of that.

ALWAYS LOCAL CONSUMER LAWYER!!!!!!!!!!!!!!!
ALWAYS LOCAL CONSUMER LAWYER!!!!!!!!!!!!!!!

Or do it yourself. These are the two safe options given to you right now.

Or where ever Mobile is at. That way if I get screwed Mobile it's yo @$$.....LOL. Just kidding but that would be funny.

just my 2 cents, but from spending the last few months on this forum i have noticed alot of people who got into a panic joined a settlement company and now complain that they are getting sued, or (yes this was in a post)that the settlement company did not pay his bill every month and they ruined his credit. people get into a panic and dont know what they signed up for and then complain is all im sayin. i would have never believed that people would sign up with companies that they did not research or check out fully by googling and such but it happens everyday. people postin new threads about companies that we have discussed over and over that are scammy. just spending enough time on this forum you can get the feel of a good or bad company almost enough that i feel you could make a good decision. so i completely understand why now alot of these settlement companies get alot of complaints. people dont know the facts about settlement let alone the information on the company itself.

You shouldn't have to go to such great lengths to find a reputable company. But since there are no regulations in the industry you have to. Who's looking out for the folks?

This industry has the inmates running the asylum. At this stage of the game don't trust them. Refrom is coming though. People are taking notice.

Tom321,
Thank you for your brilliant insight, glad you have been sleeping for the last few years. Let me guess... you work for a credit counselor during the day and visit these boards at night to let out your frustration because you hate competing against the settlement industry. Good job - hope you are proud of your efforts. I'm sure your cube buddies think you are cool. What a "life" you have created for yourself.

Brilliant banter as usual. Now go use another name. You people will never learn. It's just fun and games for me. Nothing more. Always will be. I am proud of my efforts....LOL. Thank you for noticing.

In *this* example, it is the debt settlement company's fault. They are known to push settlement and lead the client into believing they are in Debt Management. This is deceptive business practice but it is apparently very common in the industry. And TASC can complain all they want about the BBB's rating of DS companies (TASC makes their money off of dues, too, and they are biased toward the DS industry - for obvious reasons - so their complaint seems to me like the proverbial pot calling the kettle black...) - the FTC, the National Law Center, and many State Attorney General's offices and consumer advocate attorneys all across the country say the same thing about DS companies. The outcry *is* loud and being investigated in the Federal Legislature as we speak (write to your Congressperson and Senator and tell them to speed it up already). Someday the DS companies will be taken to task (pun intended) to operate legally. Deceptive business practices are bad, unethical, and illegal (though technically there is no Federal regulation of DS companies, although states - 11 so far - are taking it into their own hands to regulate them).

So, if you were mislead into DS when you wanted DM (a DS program makes far more money than DM), you should file a complaint with your state's Attorney General's office against the DS company, and the FTC. In fact, the FTC wants to hear from you!

The FTC: Dealing with Debt Relief services.
("http://www.insidearm.com/go/arm-news/debt-settlement-companies-put-under-ftc-microscope")
("http://blogs.law.harvard.edu/ethicalesq/2008/10/29/ftc-smites-debt-negotiation-firms/)
…and on and on…

Not to mention, they often tell people to stop paying their bills. Advising someone to default on a contract can get a DS company sued if they run into a legally educated client, but such a one wouldn't use a company to begin with, so there you go.

Also, many DS firms sign people up to debt settlement without first working out a detailed budget of expenses and income. How can you make a decision for someone with debt issues without knowing all the relevant facts beforehand?

And when clients wonder about how it will affect their credit rating, many DS companies gloss that one over and tell them they can hire a Credit Repair company (at even more cost!) to fix up the bad marks. You cannot remove accurate information, your credit report will be in a shambles for 7 years after you finish the program (settling the debt normally re-ages it). Another deceptive business practice!

Reform IS coming soon and not a moment too soon. Many DS companies have ruined enough lives, these are basically bottom feeders themselves... These issues (among others) are the very reasons for all the negativity. If so many didn't flat-out LIE to people just to get a new client/customer, the industry would have far more respect.

Oh, and Credit Counselors *are* tightly regulated, especially since it is now a requirement for filing bankruptcy and many of their clients are in pre-bankruptcy stage and so they require registration with the US Court system, which includes oversight.

Rhetoric may sometimes win in the short term, but truth, justice, and fairness work out in the end. But again, it does *require* the People to demand it by filing complaints where proper, and filing suit where needed. Don't let ANY company rip you off! Fight Back! (Man, I miss that show....)

But the truth of the matter is that some people do not mind paying way too much money in order to save a little because of many reasons, much of which is just misunderstanding and trepidation - up to just plain deception by the DS companies themselves. It is also true that some people are very very lucky and get out ahead with a DS company, I’m sure snake oil also worked on at least *some* people. But others just cannot afford to have what amounts to another creditor piled on top of their already mountainous debt, causing an avalanche to happen much faster and much more disastrously. Trying to do what they believe is the right thing, they believe the anti-bankruptcy hype because it appeals to their morality - but they end up having to file bankruptcy anyway, but with a trail of defaults and lawsuits in their wake instead of the clean credit they had (I call that taking advantage of someone's good intentions). I am sure that a few people have benefited, especially those with a relatively low amount of debt. But for many - if not most - people, a DS company is the second worst thing to happen to their debt next to a large drop in income and/or payday loans (and, by the way, PDLs defend themselves vociferously, too!).

And the worst part, to me, is for them to compare themselves to trained professionals such as an automobile mechanic (the most popular one, it seems)!!! Talk about adding insult to injury!!!

Plus, THERE IS ABSOLUTELY NO EVIDENCE THAT A COMPANY CAN GET BETTER RESULTS THAN YOU CAN ON YOUR OWN. NONE. ZERO. ZILCH. NADA.

Google does not charge 15% of your debt to help you out... Only the right keywords... There is a lot of self-help sites, this one especially. It is the premier do-it-yourself debt settlement assistance community on the Internet.

And I should close by saying that I am not entirely against DS firms, just against dishonest business practices. I HATE getting ripped off!

Chrys,
Great post! I could nit-pick a few points, and probably should, But I wont. You hit a few things that I rarely ever see discussed. The sales process by many DS firms is the biggest reason the industry is where it is right now. The industry is consolidating as we post (this is a good thing).

Loved it...

My opinion... Mileage may vary

Again Chrys You are 100% correct. I agree with EVERYTHING you said. I would have said it myself but man that's WAY too much writing for me....LOL. Chrys you are quickly becoming my favorite on this site and someone I can completely trust in what you say. Very reasonable guy. Actually thinks things through and comes out with a rational conclusion. People like this are hard to find.

Also Nascardevil and Pualmergel. Very reasonable and they try to stay neutral. Plus these guys like to have a little fun on the site. Oh and unclewulf also. Straight shooter that guy is.