11/3/2009

I can't access their report just now but there is a review posted here on TrustLink about this company. It ain't pretty.

If you've read previous posts in this forum, you will know that the experience of the BBB with debt settlement firms has been decidedly negative. Most people who complain about these companies state that their debts weren't negotiated, they were told to stop making payments, and the result is that they're in worse shape than when they started. Many are sued and are forced to file bankruptcy to rid themselves of the lawsuits. This industry is rife with companies using predatory fee models.

Debt settlement is a topic the BBB of the Southland has posted about on our Facebook page:
http://www.facebook.com/pages/BBB-of-the-Southland/117568537756

You may be interested in the proposed rules on fees and disclosures that the FTC is considering for the debt settlement industry. The Federal Trade Commission issued a press release about these on July 30th :
http://www.ftc.gov/opa/2009/07/tsr.shtm

It’s useful keeping the FTC’s guidance in mind as you evaluate the requirements and promises of any debt settlement company you are considering working with.

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