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Credit Solutions - Is it a scam company?

Submitted by on Sun, 11/12/2006 - 09:00
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Is Credit Solutions a legitimate company? I doubt whether it is a good company. I have been dealing with them for about 2 months. 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 enrolled in 2007 and finished my program last year. They did NOTHING for me through the whole process except that they accepted 2 settlement letters I received from the collection agencies that I emailed to them. Then when I tried to get someone to help me figure out what to do next I couldn't get a hold of anyone who was willing to help me. I just got the run around every time I called. Every time I asked why I was not getting any settlement offers on my account (through them) I was told I had to be further along in the program. I settled two debts ON MY OWN with no help from them. I paid these people a lot of money to do absolutely nothing for me. DO NOT hand your money over to these people by enrolling in this program. 3 years later and I am still as bad off as I was and I gave them money I could have paid on my debts for absolutely nothing in return. I hope this saves at least one person from enrolling in their scam of a program.


Submitted by on Fri, 04/23/2010 - 06:53

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I would recccomend DS Financial. They don't rip any one off. They settled all of my accounts for less 28 cents on the dollar. I paid the creditor directly and they charged me a small retainer. I would highly reccomend them they can be reached at 866-833-6398.


Submitted by on Fri, 04/23/2010 - 09:00

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Quote:

Originally Posted by Anonymous
I just got into the program with them one month ago. I need someone to tell me the truth about credit solutions and what i can do to get out of their program.
Just a month ago we got into CS and turns out it is all Bull we rescinded and got out! If you notice all the anonomous replies are for credit solutions ! get out now,
they just take your money monthly and do nothing. the money thry are taking from you could toward your payment Believe me they are a huge SCAM!!!!!!


Submitted by on Fri, 05/14/2010 - 23:59

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you guys are all losers, quit blaming the companies. you made the choice to sign up. in debt settlement you can be sued, you may have to pay taxes on forgiven debt and collections calls are hard to stop. The settlements actually work and save you money but it comes at a price of having the risk of lawsuits and enduring collection calls. If sued your debt can settle for more or even 100%. The reality is you created your own mess, so its your fault. Now fix it. Or quit and file bankruptcy.


Submitted by on Fri, 05/21/2010 - 11:03

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If you want to switch to a legit company with a great program that actually settles with creditors call Credit Consultants


Submitted by on Fri, 05/21/2010 - 11:54

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Credit Solutions is run by and employees morons that take your money and may close one account if your lucky, other than that they suck. Had to go through the BBB of Texas to get our money back that we paid them. Nothing but headache's. Hubby and I had more luck talking to the credit card companies ourselves. Yes, we were taxed on our forgiven debt, yes we got ourselves into it along with being laid off, so, in conclusion. Stay away from Credit Solutions.


Submitted by on Tue, 06/08/2010 - 14:14

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People, why would you believe your credit card card companies when you were told not to speak with them. Of course they're going to tell you they haven't heard from CS, they want you to drop out so that you will owe them more money.


Submitted by on Sat, 06/19/2010 - 08:02

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I don't even know where to start - I quit as did many others deemed too ethical to work there. I did have clients whose debt was settled. I had clients who didn't save their money to settle. If all you do is pay their fee and you don't save your money outside of the fee you are screwed. Use your common sense folks. Debt Settlement works and not every company is a scam. I would avoid CS at all costs, the honest have either been fired or quit. I could tell you "you're credit will be tanked" or "you don't make enough money to qualify" and someone next to me would say "our program actually helps your credit." I'd get scalded for not enrolling you and the person who lied would get applause. What was once nearly 900 employees happy to go to work is now about 200 miserable souls. Getting you enrolled and collecting your first two payments is now their main focus. Some folks say use credit counseling. You're credit will still be ruined and up to 29% of the payment you give them for payment to your creditors, they get to keep ( in the form of a tax deductible gift.) So your credit is ruined and the nonprofit gets to keep 1/3 of your money - humm! Unfortunately, you can't use the BBB either. All Debt Settlement companies in Texas have the same grade, whether you have zero complaints or thousands. That is truly an industry standard for the state. Since settlement companies are not allowed to join like other paying members it sucks. And yes, businesses with paid memberships have better ratings even with thousands of complaints. www.bbbroundup.com has some great insite on that topic. The bottom line - There is no quick fix, but use your common sense. Multiple Attorney General and independent lawsuits, negative blast all over the news, and thousands of complaints... should you really give someone with those credentials your financial information?


Submitted by on Thu, 07/08/2010 - 01:30

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Quote:

Originally Posted by Anonymous
Dont use them, they suck. Look them up at the Texas Better Business Bureau.



I'm NOT defending them, but enlightening you. All Debt Settlement companies in Texas have the same grade, whether you have zero complaints or thousands. That is truly an industry standard for the state. Since settlement companies are not allowed to join like other paying members that sucks. And yes, businesses with paid memberships have better ratings even with thousands of complaints. www.bbbroundup.com has some great insite on that topic. These days you need more than the BBB as a guide. That grade is based on what paid level of membership a company has not the value or security it provides to you and I. Be careful there as well.


Submitted by on Thu, 07/08/2010 - 01:38

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ceo died


Submitted by on Thu, 07/22/2010 - 15:49

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Quote:

Originally Posted by Anonymous
I had been contacted by them to join the work at home program and now I am wondering if I should cancel before I even start. I checked with the BBB and they hadn't even heard aout them until April. They have had no complaints on them. I couldn't remember that they told me tht it would cost me $50.00 a month and they keep talking about shipment costs. What are shipment costs?


Any real employment opportunity shouldn't be charging you any monthly amount. I can refer you to similar companies for work-at-home opportunity, similar work and no monthly fee. Additionally, the shipment cost must be the packaging that the company sends; probably CD-ROM software for your computer and a sales strategy manual.


Submitted by on Tue, 08/10/2010 - 13:10

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WOW....Guess I should have read all this sooner, I have paid $ 1965.00 and have had 1 account settled, guess I'm the idiot....its not like I was not in debt before, but now I have gave them $2000 and still have all that debt, someone with that company is gettting rich.....should have just settled with the credit cards myself...... They told me to pay them and save up some money at the same time, well if I could save money then I would not be in the debt i am in......thought i was smarter than this.....sure wish someone would tell me what to do next.


Submitted by on Fri, 10/29/2010 - 07:23

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I don't consider myself to be a "whiner" who wanted an easy out... as some are posting in favor of Credit Solutions. If you had a good experience with Credit Solutions of America, I'm delighted for you. We were not as fortunate. I knew it would be difficult, I expected it to take time and was told up front by CS reps that it would get worse before it got better. I thought I was prepared. What I was not prepared for was to go a full year with nothing to show for it. They were great...at first... called me every week or so to "check in" but after the first letter from a law firm came in... nothing. I was served with court papers twice, my paycheck is about to be garnished, they drafted $495.00 extra from my account with no notice so I've accumilated nearly three hundred dollars in overdraft and returned check fees. Every time I call and their automated system puts me on hold for the next available customer service rep, my call is strangely disconnected at somewhere between 27 and 47 minutes of listening to that horrible elevator music. In 3 months I called CS 21 times to discuss my account. I talked to a real person twice and was quickly put on hold and then disconnected by a third.Things have gotten so much worse for us financially that we had to sell our car for the payoff amount because we could no longer afford the payments. We did exactly what CS told us to do.. and didn't do what they said not to do... we were patient, we were trusting and we got royally taken for a $2000 ride before we wised up and got out.


Submitted by on Sun, 11/14/2010 - 05:13

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Credit solutions if a fraud. After 6 months of nothing, no help, no solution I was forced into chapter 13. I was being sued by 3 of my accounts, summons started arriving, a plan to garnish my wages and my bank accounts. That was it I filed chapter 13, stopped being sued and no wage garnishment for me. Don't trust these people. The best part of all was the court sent CS papers regarding chapter 13 and it was sent back to the court with address unknown ! ! ! this happened twice... I called them to get a "good address" and the women on the phone gave me the same address. I asked why when the court sent papers the letter was returned "unknown address" she said that's where I'm sitting right now ! She said all I'd have to do is tell them to close my account and that would be OK. I said I'm sure it would be because your company is use to riping people off. She disconnected me.


Submitted by on Thu, 11/25/2010 - 08:48

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I've delt with CS for over 4 years. I've had a great experience. I had a debt reduced from $12k to $4k. Another reduced from $5k to $600. I had a bill collector harass me and my wife and once I signed up with Credit Solutions and directed the bill colletor to CS, the phone calls stopped. The only complaint that I might have is that they weren't aggresive enough in persuing a "pay for delete". I'm not saying that other's may have not had bad experiences but as for mine, I was satisfied.


Submitted by on Wed, 12/29/2010 - 06:50

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it is a scamed , they took my money , never settle anything , when i asked them to settle they said well we can not settle with discover so u have to pay them in full but we won't give you the refund because they offer 2 lump sum payment so it counts as a settlement.. BS! fuking asshole company


Submitted by on Thu, 01/06/2011 - 19:31

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Keep the hell away,they have your money from you and do sweet FA but take more money. They took ??20.00 out my bank account today without permision my bank re-called it and cancelled the direct debit which they had no right to set up. If anyone can accept advice accept this and KEEP THE HELL AWAY!. On the other han, got money to burn? Go for it!!!!


Submitted by on Sat, 01/29/2011 - 16:28

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credit solutions took 279 dollars from me and did nothing for it. They are a rip off compnay. They did not negotiante anything with my creditiors what so ever. What ever you do dont go to them. They will ruin your credit rating in a minute. They take fees from you and do absolutly nothing for the, Pleaee anyone else but them 279 dollars and most credit companys do not deal with them.; Go to someone like credit one instead they are reccomended by the credit cards to be used. The will not reimburse me even if they did nothing for their money.
They just like taking money and nor producing. Very hard on someone who is unemployed.


Submitted by on Wed, 02/16/2011 - 11:02

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I read your "Satisfied Customer" statement. It gives me some solice.

With all of the negative statements, it is hard to determine if this is a scam or not. When the company begins taking the monthly installments, are they storing the money to pay their fees first? I'm suspecting this is the case, to allow them time to negotiate with the creditors. Let's face it, there is no magic, instant fix. I have just begun with this process, but my husband is extremely skeptical. I was told by the representative, Doug, that they are actually a law firm. Is that what you were told? Please respond.


Submitted by on Sat, 03/05/2011 - 06:34

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wait and keep saving money when the credit card company makes a offer to pay it off and they will you well have the money other wise you will have to make a payment plan and it wont save you as much if any. the big companys have been doing this for years they play dumb to make you chicken out and talk to them only to get more out of you. you went to credit solutions for help you have to let them do there job it can work it worked for me belive me


Submitted by on Mon, 03/07/2011 - 13:56

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The main thing to look for (when determining if a debt settlement company is reputable) is their credentials. The best debt settlement companies are accredited by The Association of Settlement Companies (TASC). TASC is a nonprofit organization that was created to bring professionals, legislators and consumers together to promote good practice in the debt settlement industry. Another thing to look for is their rating with the Better Business Bureau (BBB). Reputable debt settlement companies will have an A rating with the BBB with no lawsuits or judgements filed against them.


Submitted by Bill Shannon on Tue, 03/08/2011 - 08:43

Bill Shannon

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Credit Solutions has had my account for 15 months, nothing was done with it. I closed the account with them this past Monday. The foreigner I spoke to told they would not be taking any further funds from my account. The very next day the a transaction was made against my account before I could even contact the bank to put a stop payment on it. I called over and over again, I really beleive this is a scam and should be reported and investigated by the Federal Government. If anyone has information on how to proceed with this please let me know.


Submitted by on Wed, 04/13/2011 - 08:57

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I have been with credit solutions since Nov 2009. I enrolled 8 accounts with them. I settled my first account 5 months into the process. I have nothing but positive things to say about Credit Solutions. They can only settle an account if you have the money. You have to let them know that you have the available funds. You have to be committed to saving the money. Things are not going to happen overnite. Credit Solutions has always communicated with me. As of this day I have settled 5 accounts and about to settle number 6 next week. All my accounts have been settled for less than half as low as 35-40%. I should be debt free by the end of the year. I am completely satisfied up to this point. You have play a part in this process. Things take time and you usually get a better settlement offer the longer your account is delinquent and when your account is sold to a collection agency. I would recommend Credit Solutions to anyone who is serious about getting out of debt.


Submitted by on Wed, 04/20/2011 - 20:36

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I also have been with CreditSolutions since November 2009. I had 4 credit cards in their program and they were very up front and straight forward with exactly how it would work, how my credit score & report would be effected and how long the average accounts take to settle and at what percentage of settlement we could have. Everything they told me has been true so far and our Chase account was actually settled at 30% and I expected it to have to be paid in a lump sum, but they were able to arrange 6 payments. The only downfall I have had with the company is communication. In the first year of our account they hounded me almost as bad as the creditors, but then in the last 6 months I cannot even get ahold of them. I sit on hold for an hour before I get a person, and the turn over rate of my settlement officers has been atrocious. But otherwise, the job is getting done and exactly how they said. I do not think its a rip off, nor do I believe they are liars or thieves as some of these statements have portrayed them.


Submitted by on Fri, 04/29/2011 - 14:56

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I hadded over 35K in credit card debt that I'd racked up running a failed fitness business. Followed their plan to the t, but didn't just let them forget about me. After about 6 to 8 months, they'd settled it all for under 15K not including their fee.

Problem with the CC companies is they won't offer any type of help to you if you are current on your payments...So in order for them to even listen to you, you have to get behind on your payments.

My credit score has rebounded from the 580 after I stopped paying to a current 720. So, is it a scam? Can't answer that, but it did work for me.
Robert F.


Submitted by on Sun, 06/19/2011 - 10:08

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I must say we had an excellent experiance with Credit Solutions. We were in deep deep financial trouble due to 5 paycuts between us over 18 months when the economy collapsed. Over the years we had built up $53,500.00 in credit card debt due to an exwife, medical bills from bad injuries and stupid decisions on our part. We were under threat of losing our home and getting divorced. After talking to our attorney and doing some research, and trying to negotiate with the creditors we felt we had no alternative. We signed up with them in December 2008. The person we dealt with at the beginning was fully upfront about fees, settlements in New York State, tax implications, credit score issues, legal issues with the law firms representing the creditors and other possible problems. Everything happened just the way he predicted. He was also instrumental in helping us totally change our lifestyle. Although there were times we were on hold for a while, we never had a problem contacting someone when we called. We dealt with one person in the settlement department and she was able to settle 6 of the 8 accounts for almost 55% less. We just finished our business with them in June 2012 and couldn't be happier with the outcome and service they provided us. We were able to save our home and marriage, and get a new start financially. We are very different people today financially and God willing we will never get into that situation again. I feel very bad that some bad employees or bad management have taken this company down. It's not for everyone, but it worked for us and while we weren't sure for awhile, in the end we felt we made the right decision for us.


Submitted by on Mon, 09/03/2012 - 13:45

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Glad you have had good experience with this company.. I however have not, I can not log into my account and they do not return any of my calls.. as of today 9/28/12 the website address I have is nonexistent.. please help.. thanks


Submitted by on Fri, 09/28/2012 - 14:20

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I tried logging on to the website for Credit Solutions and I can't log in. Are they out of business? I have 2 more accounts enrolled with them that I need to settle. If anyone knows, please post.
Thanks,


Submitted by on Tue, 11/06/2012 - 18:33

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the solution is you stop posting your spam on our site as we will keep deleting it. no one wants your retarded PDL consolidation. get back to the phones


Submitted by on Thu, 11/08/2012 - 10:24

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I went to Credit Solutions back in 2007 and got scammed for around $1100 or so. They never did anything and I faxed them a bunch of bills. I ended up contacting the BBB and my state attorney general's office. I was sent a cashiers check for refund after the Texas attorney general's office pursuaded them to do so. I ended up filing bankruptcy for the first time in my life and the last but it was the best way in my situation. Credit Solutions is a scam and they promise you the world but give you a pice of dogshit. STAY AWAY FROM THIS COMPANY AND CONTACT A BANKRUPTCY ATTORNEY IF THINGS ARE THAT BAD. I had gone through a divorce and the woman always sticks them man with extra bills so think twice before getting married also. Make sure you marry a christian-evangelical thew first time and not a libtard.


Submitted by on Thu, 11/29/2012 - 08:05

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I used credit solutions and they settled many debts for me.  I was very happy with their service.  I would like to get in touch with them and can't find their number.  If you have it could you give it to me.


Submitted by on Wed, 01/02/2013 - 16:28

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