5/24/2010 8:43 AM (PST)

Linda,

I attached their BBB report above for you to view. The BBB experience appears to be limited since the company is fairly new. However the debt settlement industry is seriously problematic and therefore I would urge caution and suggest you use the below advice before engaging in business with this or any other debt settlement program.

Check out the article on debt settlement posted in our "New Scams" section before you do anything, please. The article provides some in-depth info on this industry and you should be aware of the proposed rules on fees and disclosures that the FTC is considering for the debt settlement industry.

Most of these companies operate as a referral agency to various law firms or other companies for debt settlement leads so they are not the company you would end up doing business with. These referral arrangements are “pay to play” deals, meaning that the referring agency receives some sort of consideration by the law firms for their referrals. This is a whole issue in and of itself, but more importantly, if you have read any previous posts here 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.

There are many reasons why the debt settlement industry is under scrutiny by the FBI, Secret Service, State Attorney Generals, and other financial crime regulators. This industry is rife with companies using predatory fee models and deceptive advertising. Don't fall for the ads that are all over television: they are produced by slick third party lead generators and oftentimes if you call the phone number you see on TV you will be speaking with the lead generator who will screen your call for distribution to any referral receiver who will pay. The FTC’s proposed rules will shut down the industry as it stands today - for good reason.

Have you tried a nonprofit credit counselor? Check out www.nfcc.org to be connected to a local accredited agency and also check out their "Debt Settlement Consumer Alert". Their national hotline is 800-388-2227.

6/8/2010 9:11 AM (PST)

There are many options available for borrowers. foreclosure prevention counseling to determine the best option to keep your home, or exit with grace; credit and debt counseling to address high credit card expenses as well as full budget review and recomendations with resources.

You can give Springboard Non Profit Consumer Credit Counseling a call and speak with a HUD certified counselor for Foreclosure Prevention counseling as well as credit and debt counseling. Springboard is part of the Homeowners Hope Hotline.
You do not pay for this counseling service.

Call 800-449-9392. Visit us at HTTP://www.Homeownership.org or HTTP://www.credit.org

There are many programs available for families to keep their home, Springboard will partnership with you to get an understanding of your current situation and gather information about your living situation. Gathering this information will help in finding solutions and resources that can benefit you and help with getting a resolution for you with your lender.

Ultimately, the goal is to help you create a realistic financial situation where you will be able to maintain your home long term. If appropriate, Springbord will also facilitate a 3 way call with you and your lender to discuss the loss mitigation options that may be available for you. Have your loan information handy as well as your basic income and general expenses. If you have high credit card debt, you may benefit from credit and debt counseling as well.

I would like to stress again, you do not pay for this counseling service and no company can guarantee a modification.


Effective October 11th, 2009 in California, it is illegal to collect any fees, regardless of the form, for negotiating or attempting to negotiate a loan modification for a residential mortgage. All services must be fully completed before any charges can be imposed. It is also illegal to divide advance fees or services into components for the purpose of avoiding this law.

State regulators, the FTC, and other federal regulators recommend that homeowners should never pay any up-front fees and be on the lookout for high-pressure sales tactics. Effective October, 2009 in California, it is illegal to collect any fees, regardless of the form, for negotiating or attempting to negotiate a loan modification for a residential mortgage. All modification services must be fully completed before any money can be collected. It is also illegal to divide fees or services into components for the purpose of avoiding this law. HUD approved housing counseling agencies are exempt from this law and since I work for one of these, I of course recommend that homeowners start their loan mod journey by calling us first. Our nat’l hotline is (800) 449-9392

Call 800-449-9392 and let your counselor know you heard about them on TrustLink.

6/15/2010 11:46 AM (PST)

EVERYTIME YOU CALL THIS COMPANY ALL YOU GET IS VOICEMAIL AND NO ONE RETURNS CALLS. I CANT FIND IF THIS COMPANY IS A SCAM BUT I NEED TO FIND OUT FAST BECAUSE THEY ARE TAKING MONEY OUT OF MY ACCOUNT

6/15/2010 11:56 AM (PST)

Carla,

All signs point to scam! Call your bank to see if they can assist you in stopping more charges asap!

6/21/2010 9:02 PM (PST)

The company has an F rating with the BBB. I have attached their report above. Unfortunately for consumers, the debt settlement industry is seriously problematic and therefore I would urge caution and suggest you use the below advice before engaging in business with this or any other debt settlement program.

Check out the article on debt settlement posted in our "New Scams" section before you do anything, please. The article provides some in-depth info on this industry and you should be aware of the proposed rules on fees and disclosures that the FTC is considering for the debt settlement industry.

Most of these companies operate as a referral agency to various law firms or other companies for debt settlement leads so they are not the company you would end up doing business with. These referral arrangements are “pay to play” deals, meaning that the referring agency receives some sort of consideration by the law firms for their referrals. This is a whole issue in and of itself, but more importantly, if you have read any previous posts here 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.

There are many reasons why the debt settlement industry is under scrutiny by the FBI, Secret Service, State Attorney Generals, and other financial crime regulators. This industry is rife with companies using predatory fee models and deceptive advertising. Don't fall for the ads that are all over television: they are produced by slick third party lead generators and oftentimes if you call the phone number you see on TV you will be speaking with the lead generator who will screen your call for distribution to any referral receiver who will pay. The FTC’s proposed rules will shut down the industry as it stands today - for good reason.

Have you tried a nonprofit credit counselor? Check out www.nfcc.org to be connected to a local accredited agency and also check out their "Debt Settlement Consumer Alert". Their national hotline is 800-388-2227.