Is Financial Solutions Consumer Center a scam?

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Originally Posted by Anonymous I have a question or two about Financial Solutions Consumer Center. I have signed up for the service about 6 months ago. They seemed to promise the world but now I wonder. I have just received a subpoena from a dept collector to appear in court for breach of contract. I understand that I am in breach of contract and do not have a problem with this. However, when I called Financial Solutions they said the debt collector could put a hold on my bank accounts and to start using ???pre-paid??? credit cards so they could not obtain my funds. They assured me they are working in my best interest and they would try to settle my debt as fast as they could and assured me this is not unusual!!! So they question is???. Is this normal and is it a scam? Anybody out there have any dealing with them? I checked into them on the BBB sight and they have an A rating. It just seems to be getting a little strange! Thanks for the help

I was referred to them by a friend who started with them in July 2009. By Dec he had his wife's AMEX balance of approx 7K reduced and paid 4K or somewhere in that amount. He also checked his credit report during the program, 2 of his accounts when settled shortly after were reported "Paid as Agreed/Settled. He was very satisfied with the results so to answer your question yes they are legit.

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Originally Posted by jon tillary I was referred to them by a friend who started with them in July 2009. By Dec he had his wife's AMEX balance of approx 7K reduced and paid 4K or somewhere in that amount. He also checked his credit report during the program, 2 of his accounts when settled shortly after were reported "Paid as Agreed/Settled. He was very satisfied with the results so to answer your question yes they are legit.

I signed up for Financial Solutions Consumer Center's (FSCC) program to help me get out of debt. Apparently I was hiring an attorney to settle the debts, but at NO POINT did I ever have contact with an attorney. I was told that if I had a problem, I instead would have to talk to customer service reps -- who did nothing for me. The whole thing seemed pretty shady.
After a short period of time, I decided to cancel their services, as I felt it was a scam. They did nothing to help convince me otherwise that they would actually settle my debts - nor could I find any information online that they actually got ANYONE out of debt. Therefore I canceled their services after paying an initial $700 at that point. Silly me to even sign up.
Upon asking for a refund of this money, since no services were rendered, I was denied a refund. Actually, I called and wrote letters over and over and over again, and each time no one would respond to me. I even went so far as to hire my own attorney to get my money back, and Financial Solutions Consumer Center (FSCC) refused to even talk to MY attorney! If that's not a scam and a rip off, I don't know what is!
I did some investigation, and according to this website http://www.debtconsolidationcare.com/creditors-information/financial-solutions.html, two of the executives of the company are convicted felons. I'm not surprised.
So here's what I've learned: RUN AWAY FROM THIS COMPANY! I can only imagine how many people they have been victimized and ripped off before and after me. They claim to have an "A" rating with the BBB, but something tells me it is a phony BBB. They claim to have helped THOUSANDS of people get out of debt. Then why has nothing positive been written about them by ANYONE on the entire Internet?!! Surely THOUSANDS of people would've raved about this company if they were so great... or realistically even 10 people??
Hopefully this company will get shut down by the authorities. I am out a lot of money, but hopefully you'll learn from my mistake. The moral of the story is not to do business with Financial Solutions Consumer Center.

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Originally Posted by Anonymous I signed up for Financial Solutions Consumer Center's (FSCC) program to help me get out of debt.... The moral of the story is not to do business with Financial Solutions Consumer Center...

Unfortunately, you give no specific details of your particular situation, and frankly, you sound like a disgruntled employee. When I became a client I was able to call the attorney in my state from Financial Solutions Consumer Center in my state one of the hardest hit by the mortgage crisis and job loss, and he was a real live bankruptcy attorney. Maybe your individual situation was different but what you are saying doesnt add up. Attorneys are expensive and he said he presided over the debt program and would step in if the road to bankruptcy was imminent but said that debt settlement is legal and in this day quite common!! Perhaps your rep did not explain this to you, and that I see is where Financial Solutions may have needed to be more clearer on that point-- a number of people work on a debt settlement program not just Bill Smith, Esquire.

Also, this is NOT a quick fix. I have personally know 3 people who have been in debt settlement programs. One in particular was told to go this route (and he is in law enforcement, go figure) because he and his family were trying to buy a house and unfortunately he had a very high debt amount. His realtor suggested doing a debt settlement program because bankruptcy was NOT an option for this person as he is in law enforcement/military, and frankly, bankruptcy to him signified failure as a provider to his family. AND a bankruptcy stays on your CREDIT REPORT for a long time. This was 6 years ago. He finished his debt settlement in 4 years and got the house recently, less than a year ago. I question your complaint because it makes YOU sound like you were expecting a QUICK FIX and you arent telling us anything original. Anyone who is contemplating doing debt settlment must understand its not for everyone but when done right it does work. And as a matter of fact, I was just invited to my friend's poolside BBQ the other day, in the home that he wouldn't have able to obtain, without eventually GETTING RID OF HIS $40K DEBT :p