Just be careful, on what consolidation/settlement you go with. ALWAYS read they 'fine print'. Some ask for a VERY high fee, BEFORE they even do anything ( if they do anything). I'm not saying there aren't GOOD and LEGIT ones 'out there', I'm just saying to be aware. Some will put you MORE into debt. Speaking from experience!!
Sometimes there are varied experiences. Some companies do get listed in the BBB but there are too many rip offs lodged against them. I find it bewildering. Is it the foolishness of the consumer or the company. Its a big secret :)
I talked to this I have some credit card debt and I want to either consolidate or settle but I’m not sure which way to go, has any one done or heard of any one who has done either??? Credit solutions told me that I would not pay my credit cards bills for 3 months, and my credit would not be hurt with the sowing of 90 days late on it!!! Is that TRUE??? I’m just trying to figure out the right path to take, thanks.
I would think it's always a 'negative' thing, if you are 'late'...with anything. I've gotten ads from Credit Solutions, too. I'm trying to ask them SPECIFIC questions, on things. But, all they are iving me is GENERAL answers. 'Beating around the bush', almost. Hope you find someting that will work for you.
It is not possible that the score will not be hurt. What is the company talking to you about? Debt Settlement? Well it can be thought of only when you do not have any other way but to file a bankruptcy. Otherwise consolidation is a good option, your scores might get lowered but once the process is over and you are consistent with your finance, it definitely repairs all the losses.
My wife is with credit Solutions, we are in the early stages, but remember that not all creditors will work with credit solutions as we just found out. So we are now deciding whether to wait for the creditor to send the account off to a collection agency who would work with Crediti Solutions, or to make another arrangement with the company. In other words be prepared if one of your creditors refuses to accept Credit Solutions or a company like them, and have a plan B in place. Sometimes these creditors can sue you in court to make you pay.
Them telling you that it will not have an effect on your credit score is not true, late is late for any reason, and it has been my experience that they will report it either way. I think they are telling you this to get you into their program. If this was true and we could all take a couple of months off with out worry we could catch up on our own, at least I could. I would follow the advice of the forum members and look into the better business bureau before making a decision on what to do.
Sheldon,
Have you done anything with Credit Solutions? I'm trying to go with them. I spoke to one of the representatives and he told me that my credit score will go down but after paying everything with them I will be able to bring it up.
I don't know what to do.
Ok here's my take on that company. I looked them up with the BBB and they're legit and supposedly have no complaints and have adhered to the BBB standards for the past 12 months and have been registered with the BBB since november 2006. While that all sounds good, Dan, i'm not encouraged to hear that you will not pay your bills for 90 days. that's not right. I went with Money Management International, a very reputable and effective company for consolidation. Now, keep in mind all i consolidated was CREDIT CARD debt, i had no other payday loans or anything like that. MMI was able to incorporate most of my debt except my Sears credit line (big vent on them later) and another that i cannot remember at this point. They were able tot ake all 3 citibank accounts, discover, walmart and some others and make one low monthly payment to be distributed IMMEDIATELY to all my companies. I had to pay a $30 fee but that was a steal considering they negotiated payments, stopped over the limit fees, lowered interest etc. they never made me wait, my first payment was put to use effectively.
While it is true that some creditors will not work with a consolidation company, many will and yes, it does take some time to see who will and who will not. You will be assigned a counselor who should take you through the program step by step and should communicate with you by phone, fax, and email. You'll have to fax information about your financial situation and debts to them. I do not like that you have to wait 90 days at all, that does nothing for you and only worsens your situation. try to research some other options and let us know how you're doing, good luck...this journey can be cumbersome but there are so many people here to help you and give you emotional support!
Do not trust Credit Solutions. It is a scam. They will not pay your creditors anything. Your balances will go up from late fees and higher interest. I payed them over $1500 in a 7 month period and got nothing for it. I checked with the BBB and they have several complaints agiants them. At the moment im in the process of trying to get a refund.
Sorry to hear this happened to you Randy, hopefully you will get your money back. Have you been in contact with your creditors, do they even want to hear it at this point. You should be able to file a civil lawsuit against the company and recover your money, plus all fees and late charges that you have incurred. I would call an attorney and try to see if this is a possiblity.
I would also contact your states attorney generals office, most of the time these complaints can be filed online and they will follow up with the company.
Hope this helps, go after them one way or another, they have a responsibility to the public to do what they advertise they will do.
This is my request to you and all that when it comes to financial decisions please always do thorough background check. This is hard earned money and goes to hell that way. Try to solve you problems yourself rather than letting someone else do it.
Companies like Credit Solution can harm you because you are not informed enough. Always talk to people and try to find out before you invest money. I am really very sorry to hear that you have lost so much to them now.
File a complaint a Good mentioned and talk to a lawyer to get your money back if at all possible.
I worked for this company in Dallas for 8 months and I basically lied, cheated, and stole customers money. All of this was encouraged and it paid very well. The company is only concerned with geting a few months of fees out of you, then you get sued and will be buried in debt farther than you were when you started. Stay away. when i discovered the truth, I left. Sorry to everyone I scammed. By the way, they have almost 1000 complaints on the Dallas BBB site .
This is news for us. It is very kind of you to inform us regarding the forced meanness that you had to implement.
The company is only concerned with geting a few months of fees out of you, then you get sued and will be buried in debt farther than you were when you started. Stay away. when i discovered the truth, I left.
This is the time of the year when they seem to crop up out of the wood work like roaches, I swear.... Right after the holidays... when people spend much more than earned..
In any event, like many have said before, research these type of companies prior to using their services. And, when you think you have enough information, research them and others again. Cause you never know what you missed the first time....
It only takes one more goof to put all your finances in a real jumbled mess.... and then the real nightmare begins....
This is the company you are all talking about.
Be very carefull. This website wont allow me to post the link but its clearly at the BBB website. Here is info I coppied and pasted directly from the BBB site.
BBB Accreditation Status
In May, 2007, the company agreed to stop making claims in emails to potential clients that "We have an 'A' rating with the Better Business Bureau" and "We actually have a very good standing with the BBB!". The business is not a member of this Better Business Bureau, does not have an "A" rating, and is not in "very good standing with the BBB". Our policies prohibit such a reference.
Nature Of Business
According to information in Bureau files this company offers a service for budget review, debt analysis, contacting creditors, and negotiating settlements with creditors for their clients for a fee.
Customer Experience
Complaints are regarding dissatisfaction with the company's service and misrepresentation of the results of the debt negotiation program. Specifically, customers complain that paying the company fee and following the debt negotiation program does not reduce debt, as stated by company representatives. As a result of the program, customers complain, they have an increase in debt, due to late fees or additional interest and negative credit reporting. The company resolves complaints by offering refunds or refering to the Client Services Agreement for explanation. Although the company resolves most of the complaints it has failed to correct the underlying reason for the complaints.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
The BBB processed a total of 826 complaints about this company in the last 36 months, our standard reporting period.Of the total of 826 complaints closed in 36 months, 587 were closed in the last year.
If you want to do Debt settlement, make sure they are a member of TASC and the BBB. I work for Clear One Debt Relief, part of Debt Resolution Partners. They are as legit as it gets. Check it out for yourself.
hi rebown and ex employee, welcome to the forum, I hope you will decide to register and stay with us a while. you both posted some really good information. Ex, thank you for your honesty, glad to see you left a company like this.
I agree with the other former employee here. I worked in the sales department for this company for a year and a half. They lied and waved money in our faces to have us bend the truth to enroll other people. Its a VERY VERY BAD company and you can settle on your own! Good luck, but DON'T trust CSA
I cant believe that old employees can give such a feedback. they actually lure by money? I cant believe that. Where does the money come from? By scamming innocent consumers.
i just signed up for CS today...i guess i should have done my homework sooner. Also, after finally researching, i saw that even if you SETTLE, you still pay the money back in taxes. SO WHATS THE POINT IN SETTLING THEN? you have to pay it all back anyway right? i hate debt. its like nothing works. what a joke.
and ps i broke my agreement with CS so im glad i got outta that one.
The liklihood of you paying taxes on the forgiven debt is slim. You'll have to concern a tax professional to figure it out for sure, but about 95% of my client are insolvent, and are exempt from paying any income tax on the difference in their debt.
If you're insolvent it's a simple form on the IRS.gov website to file along with your taxes.
It is good that you have come out of the scam before you got ruined but remember that you should be well aware of where you are giving your money. Bankruptcy is always one option to get rid of the debt.
oh I am so happy that I took a big junk out so I don't qualify for there programm! That was easy to get out and I don't have to pay for anything!
Evn the guy I set up at the beginning was always helpfull!
I really wonderwhy someone takes the time to post a question and doesn't come back. I think most of the m are usually really legit questions that need answers. Sometimes I wonder if they just don't get confused and disgusted with the whole credit process and give up. Thats the worst thing to do.
Thats what I do also. I also have a bookmarker at the top of my computer screen. I use it for important sites as this one. Under my favorites goes games and other not so important sites.
Yes there actually is. The over all concept is the same but if you click on bmarks it will give you the list that you populated there. If you click on favorites you see the list of things you sent to this list. It is like having two different files.
Yews unless you have a favorites list a mile long and hate looking throught them all to find your more important or frequently visited sites. Save the hassle.
Ive only made one payment and I have to keep my phones off the hook! I'm really worried, I have 10 accounts with them and my monthly payments are almost $600 a month. What kind of questions should I ask CS before I back out? Should back out? I really don't know, reading all these messages is crazy! Some say they're for real, others say no. Help!
I have dealt with Credit Solutions and I have settled all my accounts with good low settlement. All you complaining bitches need to shut up...its not Credit Solutions fault that your sorry ass ran up your debt. No one is at fault but your own...you made poor judgement and got into debt and now you wanna complain...stop acting like asses
I am currently enrolled with Credit Solutions. They have been nothing but helpful. We just settled my 2nd account and I payed 37 cents on the dollar.
10,000 credit card I paid 3,700. Even with their fee it is helping me out a bunch. Instead of being 70+ years old and out of debt. I am going to be debt free at this rate in 22 more months. I read all the BS on the BBB. And I only gave them one card to enroll to see how they would handle everything. They were great, so I enrolled the rest of my 76k in debt. I signed up on a 48 month plan. And I will be out of debt in a total of 38 months. And I didn't go with a consolidation or consumer credit counseling company cause they show up on your credit report. It tells your future creditors that you needed help paying your bills, well NO TY to that...! Over all they have saved me 17,000 dollars so far. And we still have 3 more big cards to get settled. Yes it will be a rebuilding process to get my credit back where it was. But I will be done 100% in a short time period, and have good paid accounts on my credit when we are done. Overall this was a huge blessing to my family.
credit solutions
Just be careful, on what consolidation/settlement you go with. ALWAYS read they 'fine print'. Some ask for a VERY high fee, BEFORE they even do anything ( if they do anything). I'm not saying there aren't GOOD and LEGIT ones 'out there', I'm just saying to be aware. Some will put you MORE into debt. Speaking from experience!!
Hi Sheldon go ahead and check the debt forums for discussion on this company.
Whenever you require feedback for a company check it with the customers' feedbacks with the Texas Attorney General and the Better Business Bureau.
Yes, ofcourse.
Sometimes there are varied experiences. Some companies do get listed in the BBB but there are too many rip offs lodged against them. I find it bewildering. Is it the foolishness of the consumer or the company. Its a big secret :)
settlement vs Consolidation??
I talked to this I have some credit card debt and I want to either consolidate or settle but I’m not sure which way to go, has any one done or heard of any one who has done either??? Credit solutions told me that I would not pay my credit cards bills for 3 months, and my credit would not be hurt with the sowing of 90 days late on it!!! Is that TRUE??? I’m just trying to figure out the right path to take, thanks.
credit cards
I would think it's always a 'negative' thing, if you are 'late'...with anything. I've gotten ads from Credit Solutions, too. I'm trying to ask them SPECIFIC questions, on things. But, all they are iving me is GENERAL answers. 'Beating around the bush', almost. Hope you find someting that will work for you.
It is not possible that the score will not be hurt. What is the company talking to you about? Debt Settlement? Well it can be thought of only when you do not have any other way but to file a bankruptcy. Otherwise consolidation is a good option, your scores might get lowered but once the process is over and you are consistent with your finance, it definitely repairs all the losses.
Crediti Solutions
My wife is with credit Solutions, we are in the early stages, but remember that not all creditors will work with credit solutions as we just found out. So we are now deciding whether to wait for the creditor to send the account off to a collection agency who would work with Crediti Solutions, or to make another arrangement with the company. In other words be prepared if one of your creditors refuses to accept Credit Solutions or a company like them, and have a plan B in place. Sometimes these creditors can sue you in court to make you pay.
Its important to do a fact and background check before opting for any program.
Them telling you that it will not have an effect on your credit score is not true, late is late for any reason, and it has been my experience that they will report it either way. I think they are telling you this to get you into their program. If this was true and we could all take a couple of months off with out worry we could catch up on our own, at least I could. I would follow the advice of the forum members and look into the better business bureau before making a decision on what to do.
Credit Solutions
Sheldon,
Have you done anything with Credit Solutions? I'm trying to go with them. I spoke to one of the representatives and he told me that my credit score will go down but after paying everything with them I will be able to bring it up.
I don't know what to do.
Hi Vanessa are you going for a credit card debt consolidation? What is the program that they are offering?
Ok here's my take on that company. I looked them up with the BBB and they're legit and supposedly have no complaints and have adhered to the BBB standards for the past 12 months and have been registered with the BBB since november 2006. While that all sounds good, Dan, i'm not encouraged to hear that you will not pay your bills for 90 days. that's not right. I went with Money Management International, a very reputable and effective company for consolidation. Now, keep in mind all i consolidated was CREDIT CARD debt, i had no other payday loans or anything like that. MMI was able to incorporate most of my debt except my Sears credit line (big vent on them later) and another that i cannot remember at this point. They were able tot ake all 3 citibank accounts, discover, walmart and some others and make one low monthly payment to be distributed IMMEDIATELY to all my companies. I had to pay a $30 fee but that was a steal considering they negotiated payments, stopped over the limit fees, lowered interest etc. they never made me wait, my first payment was put to use effectively.
While it is true that some creditors will not work with a consolidation company, many will and yes, it does take some time to see who will and who will not. You will be assigned a counselor who should take you through the program step by step and should communicate with you by phone, fax, and email. You'll have to fax information about your financial situation and debts to them. I do not like that you have to wait 90 days at all, that does nothing for you and only worsens your situation. try to research some other options and let us know how you're doing, good luck...this journey can be cumbersome but there are so many people here to help you and give you emotional support!
Great job debt. I had tried to do a BBB search but the site was not opening or it was too slow.
I wanted to know their BBB status. Thanks a lot for the information.
Credit Solutions
Do not trust Credit Solutions. It is a scam. They will not pay your creditors anything. Your balances will go up from late fees and higher interest. I payed them over $1500 in a 7 month period and got nothing for it. I checked with the BBB and they have several complaints agiants them. At the moment im in the process of trying to get a refund.
Sorry to hear this happened to you Randy, hopefully you will get your money back. Have you been in contact with your creditors, do they even want to hear it at this point. You should be able to file a civil lawsuit against the company and recover your money, plus all fees and late charges that you have incurred. I would call an attorney and try to see if this is a possiblity.
I would also contact your states attorney generals office, most of the time these complaints can be filed online and they will follow up with the company.
Hope this helps, go after them one way or another, they have a responsibility to the public to do what they advertise they will do.
Hi Randy,
This is my request to you and all that when it comes to financial decisions please always do thorough background check. This is hard earned money and goes to hell that way. Try to solve you problems yourself rather than letting someone else do it.
Companies like Credit Solution can harm you because you are not informed enough. Always talk to people and try to find out before you invest money. I am really very sorry to hear that you have lost so much to them now.
File a complaint a Good mentioned and talk to a lawyer to get your money back if at all possible.
Randy is correct
I worked for this company in Dallas for 8 months and I basically lied, cheated, and stole customers money. All of this was encouraged and it paid very well. The company is only concerned with geting a few months of fees out of you, then you get sued and will be buried in debt farther than you were when you started. Stay away. when i discovered the truth, I left. Sorry to everyone I scammed. By the way, they have almost 1000 complaints on the Dallas BBB site .
This is news for us. It is very kind of you to inform us regarding the forced meanness that you had to implement.
The company is only concerned with geting a few months of fees out of you, then you get sued and will be buried in debt farther than you were when you started. Stay away. when i discovered the truth, I left.
I completely agree with you Ex on this regard.
This is the time of the year when they seem to crop up out of the wood work like roaches, I swear.... Right after the holidays... when people spend much more than earned..
In any event, like many have said before, research these type of companies prior to using their services. And, when you think you have enough information, research them and others again. Cause you never know what you missed the first time....
It only takes one more goof to put all your finances in a real jumbled mess.... and then the real nightmare begins....
Credit Solutions is NOT a member of the BBB
This is the company you are all talking about.
Be very carefull. This website wont allow me to post the link but its clearly at the BBB website. Here is info I coppied and pasted directly from the BBB site.
BBB Accreditation Status
In May, 2007, the company agreed to stop making claims in emails to potential clients that "We have an 'A' rating with the Better Business Bureau" and "We actually have a very good standing with the BBB!". The business is not a member of this Better Business Bureau, does not have an "A" rating, and is not in "very good standing with the BBB". Our policies prohibit such a reference.
Nature Of Business
According to information in Bureau files this company offers a service for budget review, debt analysis, contacting creditors, and negotiating settlements with creditors for their clients for a fee.
Customer Experience
Complaints are regarding dissatisfaction with the company's service and misrepresentation of the results of the debt negotiation program. Specifically, customers complain that paying the company fee and following the debt negotiation program does not reduce debt, as stated by company representatives. As a result of the program, customers complain, they have an increase in debt, due to late fees or additional interest and negative credit reporting. The company resolves complaints by offering refunds or refering to the Client Services Agreement for explanation. Although the company resolves most of the complaints it has failed to correct the underlying reason for the complaints.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
The BBB processed a total of 826 complaints about this company in the last 36 months, our standard reporting period.Of the total of 826 complaints closed in 36 months, 587 were closed in the last year.
If you want to do Debt settlement, make sure they are a member of TASC and the BBB. I work for Clear One Debt Relief, part of Debt Resolution Partners. They are as legit as it gets. Check it out for yourself.
Thanks a lot for informing us regarding this Bown. Hope to see more of your advice and information here. :)
Thanks a lot for informing us regarding this Bown. Hope to see more of your advice and information here. :)
My pleasure Laura! Let me know if you have any other questions.
hi rebown and ex employee, welcome to the forum, I hope you will decide to register and stay with us a while. you both posted some really good information. Ex, thank you for your honesty, glad to see you left a company like this.
Thank you for sharing Rebown, what you shared is very informative and eye opening...
826 complaints towards one company, to me, seems awful high!!! Wow!!
Closed or not.
This is a prime example why each of us should research everything we do..
You are welcome rebown.
Its our pleasure to have you here.
LIES, LIES, & SCAM
I agree with the other former employee here. I worked in the sales department for this company for a year and a half. They lied and waved money in our faces to have us bend the truth to enroll other people. Its a VERY VERY BAD company and you can settle on your own! Good luck, but DON'T trust CSA
I cant believe that old employees can give such a feedback. they actually lure by money? I cant believe that. Where does the money come from? By scamming innocent consumers.
scam scam scam
i just signed up for CS today...i guess i should have done my homework sooner. Also, after finally researching, i saw that even if you SETTLE, you still pay the money back in taxes. SO WHATS THE POINT IN SETTLING THEN? you have to pay it all back anyway right? i hate debt. its like nothing works. what a joke.
and ps i broke my agreement with CS so im glad i got outta that one.
There is always bankruptcy.
The liklihood of you paying taxes on the forgiven debt is slim. You'll have to concern a tax professional to figure it out for sure, but about 95% of my client are insolvent, and are exempt from paying any income tax on the difference in their debt.
If you're insolvent it's a simple form on the IRS.gov website to file along with your taxes.
It is good that you have come out of the scam before you got ruined but remember that you should be well aware of where you are giving your money. Bankruptcy is always one option to get rid of the debt.
oh I am so happy that I took a big junk out so I don't qualify for there programm! That was easy to get out and I don't have to pay for anything!
Evn the guy I set up at the beginning was always helpfull!
Casper what makes your clients insolvent as you say. I never even heard of paying taxes on past debt.
I would like more explaination on this also if you care to expand on it please? thanks
I only hope he comes back and explaind. Hope he wasn't a ghost and if so maybe he's friendly? lol
Hard to say, we will just have to wait and see. Keep your fingers crossed.
I really wonderwhy someone takes the time to post a question and doesn't come back. I think most of the m are usually really legit questions that need answers. Sometimes I wonder if they just don't get confused and disgusted with the whole credit process and give up. Thats the worst thing to do.
I think that if you don't book mark the site, some of them lose it too, maybe they just can't find the site again.
I figured that one out a while ago. I always use to say "I can remember that". I made a new years resolution to quit lying to myself.
okay, if I like a site, I put it under favorites, that is easy enough to do, especially if I have to come back for an answer.
that is what I do too, put it under faves and then it is always right at my finger tips.
Thats what I do also. I also have a bookmarker at the top of my computer screen. I use it for important sites as this one. Under my favorites goes games and other not so important sites.
Yes there actually is. The over all concept is the same but if you click on bmarks it will give you the list that you populated there. If you click on favorites you see the list of things you sent to this list. It is like having two different files.
but pretty much the same, right? I will just use favorites then
Yews unless you have a favorites list a mile long and hate looking throught them all to find your more important or frequently visited sites. Save the hassle.
enrolled with creditsolution.com
Ive only made one payment and I have to keep my phones off the hook! I'm really worried, I have 10 accounts with them and my monthly payments are almost $600 a month. What kind of questions should I ask CS before I back out? Should back out? I really don't know, reading all these messages is crazy! Some say they're for real, others say no. Help!
I have dealt with Credit Solutions and I have settled all my accounts with good low settlement. All you complaining bitches need to shut up...its not Credit Solutions fault that your sorry ass ran up your debt. No one is at fault but your own...you made poor judgement and got into debt and now you wanna complain...stop acting like asses
Credit Solutions
I am currently enrolled with Credit Solutions. They have been nothing but helpful. We just settled my 2nd account and I payed 37 cents on the dollar.
10,000 credit card I paid 3,700. Even with their fee it is helping me out a bunch. Instead of being 70+ years old and out of debt. I am going to be debt free at this rate in 22 more months. I read all the BS on the BBB. And I only gave them one card to enroll to see how they would handle everything. They were great, so I enrolled the rest of my 76k in debt. I signed up on a 48 month plan. And I will be out of debt in a total of 38 months. And I didn't go with a consolidation or consumer credit counseling company cause they show up on your credit report. It tells your future creditors that you needed help paying your bills, well NO TY to that...! Over all they have saved me 17,000 dollars so far. And we still have 3 more big cards to get settled. Yes it will be a rebuilding process to get my credit back where it was. But I will be done 100% in a short time period, and have good paid accounts on my credit when we are done. Overall this was a huge blessing to my family.
creditsolutions
Should I sign on with this company or should I go elsewhere?