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Think debt relief - is this a legal debt company or a scam?

Date: Sun, 01/25/2009 - 12:26
Submitted by on Sun, 01/25/2009 - 12:26
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Has anyone worked with the debt settlement company Think debt relief? I am considering doing their debt settlement plan but am very skeptical about scam, ruining my credit score, etc.


Based on BBB files, think debt relief has a BBB Rating of B-. They're a new company based out of Phoenix - inception 6/2008. Haven't heard any negative news about them and new doesn't necessarily mean bad.


Submitted by on Mon, 01/26/2009 - 10:07

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I'm also considering doing business with this company. They said they have a 97% success rate, and only accept you if they believe they can reduce your payment by 20%-40%. They do have a charge of approximately $2000 once you are accepted, but with a savings like that, it seems like a no-brainer. Any advice one way or the other?


Submitted by on Mon, 01/26/2009 - 10:14

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Yes, this is a legitimate company to work with. I am currently part of their program for debt relief & so far everything seems great. Looking forward to when I finish the program however so I can be free of this overwhelming debt. My consultant Anthony D. is great. I have his direct number and if I ever have questions I can call him. If he's not available he always gets back to me quickly.

Also, I called a lot of places before deciding to go with Think and no matter where you go for a debt relief program your credit will be hurt by this program. Luckily, they will get you into a credit repair program once you have finished.


Submitted by on Tue, 02/10/2009 - 11:23

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It is IMPERATIVE that one understands how the BBB works in relation to the Debt Management industry. The BBB operates a little differently in each state. Because of this, they have different ways of rating DM industry in each state. In my state (MD) there settlement companies out there with no negative postings and yet still have a D rating. I know that sounds odd but it is true. Go onto the MD BBB and see for yourself. I find this appaling that they give DM companies bad ratings simply because of the industry.

Sorry to rant here. Bringing this full circle, it is so very important that you look at the complaints filed and how the company handled the complaints. Don't just go on the rating!


Submitted by info3333 on Tue, 02/10/2009 - 14:26

info3333

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Info3333 is right. Check out TASC " The Association of Settlement Companies" and their letter they wrote to the BBB regarding their biased rating system regarding debt settlement.


Submitted by mobile0311 on Tue, 02/10/2009 - 18:12

mobile0311

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