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Credit Solutions - Is it a scam company?


Credit Solutions is a Texas based debt settlement company. They say their programs are designed to get their customers debt-free within 3 years or less, however, many customers do not believe this. Below are some of the experiences shared by consumers in the DebtCC forum:

Is Credit Solutions a scam?

Many consumers ask "Is Credit Solutions a good company or a scam?" Well, a number of people have grievances against this company. Check out the sections below to find out what people have to say about Credit Solutions.

  • Don't contact customers: One of the common complaints against the company is that they charge their consumers money, but don't contact your creditors to start the settlement process. Customers who have been with the company for 2-5 months suddenly find out that the company hasn't contact their creditors to start settling their bills.

    The company asks their customers to not contact their creditors on their own. One customer says the company continued withdrawing their monthly fees from his savings, but did not contact him about any settlement proposal. He learned that the loan has been sold to a new company that started threatening him with wage garnishment. He ended up having to pay more than what he actually owed because of the interest accrued on the loan. Check this out
  • Misleading customers: Another customer accused the company of misleading him by encouraging him to include a student loan worth $25k in the program. The customer later received a wage garnishment notice for this loan. On contacting Credit Solutions, he was told that the student loan was included by mistake and they could not help him get rid of it. Get more information on this. Get more information on this
  • Cancellation of accreditation and consumer complaints: One consumer claims that he has seen more than 1400 complaints filed with BBB against this company. He says the company is no longer a member of The Association of Settlement Companies (TASC), and that the company has lost its JD Power certification due to customer dissatisfaction. Here are the details
  • Consumers have said that talking to the customer service associates at Credit Solutions is very stressful. Whenever they call the company, they have to provide all the details of their accounts to the customer service representatives, as if they are calling the company for the first time. Customers are often kept on hold for a long time, leaving them with a large phone bill. One customer said that he was trying to settle his credit card debt with the company and 2 different people were working on his account. To his surprise, neither of them knew anything about it. The customer was very disgusted with their service. Know more

Has anyone had good experiences with the company?

In spite of the numerous stories about Credit Solutions scams, there are a lot of consumers who claim to have benefited from the services offered by the Credit Solutions. Their comments on their experiences are:

  • The company settles debts satisfactorily: One customer said he worked with the company for 2 years and was about to pay off his credit card debt within a few months' time. He always got the paperwork from the company to verify the payments he made and whenever he had any problems, he called the company and the representatives helped him.
  • They deliver what they promise: Some customers have said that Credit Solutions delivers what they promise. One customer said the company estimated they would be able to settle a $47K debt down to $24K, but they managed to settle it for just $19k.
  • The company is honest about its limitations: Some consumers have said the company tells them which loans cannot be settled. One customer said a Credit Solutions representative told him upfront that they cannot settle student loans and asked him to not include it in the program.

If you have any grievance against the company, you can file a complaint with the BBB and alert other consumers. You should also contact FTC and your State Attorney General's office and lodge your complaint with them. You should keep sufficient evidence to support your complaint to submit to the appropriate government agencies if needed.

member profile picture
Posts: 1
Credits: 1103.6
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Is Credit Solutions a legitimate company? I doubt whether it is a good company. I have been dealing with them for about 2 months. I just talked to one of my credit card companies and they said that they have not heard anything from credit solutions about any kind of settlement. Now what do I do?




johng
Posts: 24
Credits: 1648.55

Sub: #1 credit solutions scam and BBB record
Sun, 11/12/2006 - 18:24

credit solutions scam if you look at their bbb record. I would transfer to somebody else--Superior would be who I'd check out if I were you.
John




Unregistered

Sub: #2 credit solutions complaints
Thu, 08/07/2008 - 00:06

PLEASE DO NOT BE RIPPED OFF BY THESE CREDIT SOLUTIONS SCAM ARTISTS!!! BEWARE - BEWARE- BEWARE OF this company!!!
BEWARE OF THEIR SO CALLED TACTICS, THEY SERIOUSLY ROB YOU EVERY PENNY BEFORE KNOW IT!!
THEY WILL PROMISE YOU THE WORLD AND TELL YOU TO NOT ANSWER TO YOUR CREDITORS, AND IGNORE PHONE CALLS, WHICH ARE THESE SO CALLED SCARE TACTICS! WE LOST OVER $1000 DOLLARS ALREADY AND WERE FOOLED AND MISLEAD BY FALSE PROMISES, UNLESS YOU HAVE MONEY TO BURN . . . . RUN AWAY FROM THIS COMPANY ASAP!!!
I WISH SOMEONE WOULD OF WARNED ME ABOUT THIS COMPANY FIRST, OR I SHOULD OF DONE MY HOMEWORK BETTER. RIGHT NOW I AM GOING TO TRY TO RECOUP MY LOSSES BY GETTING AN ATTORNEY. HOPEFULLY, THESE SCUMS WON'T GET AWAY WITH WHAT THEY'VE DONE TO ME AND OTHER INNOCENT PEOPLE. REALLY, HOW DO THESE PEOPLE GO TO WORK EVERYDAY, KNOWING THEY'RE NOT HELPING ANYONE, I'D RATHER BEG FOR MONEY THAN SELL MY SOUL THAN TO WORK FOR THE DEVIL!!!




mobile0311

Posts: 1817
Credits: 10456.75

Sub: #3 credit solutions scam - the company is anti christ
Thu, 08/07/2008 - 07:08

Credit Solutions of America " aka creditsolutions.com " is the Anti Christ of the debt settlement industry. They have the worst reputation with over 1400 complaints with the BBB. They were once members of TASC but was kicked out. They then got JD Power certified and was kicked out due to customer dissatisfaction. They currently have a class action lawsuit against them by law firm Hagens Berman Sobol Shapiro LLP. If you have been screwed by them try getting in touch with that law firm. Perhaps you can recoup some of the money they took from you.




ironlogix
Posts: 1
Credits: 29

Sub: #4 the company is not a scam
Wed, 10/01/2008 - 09:22

A friend of mine went through the program and only has positive things to say about the company. As per Credit Solutions reviews given by him, this company is definitely not a scam.




NASCAR_Devil


Posts: 4668
Credits: 30821.994972777

Sub: #5 Ironlogix....spammer
Wed, 10/01/2008 - 09:51

Ironlogix....spammer




Unregistered

Sub: #6 Credit solutions scams
Sat, 12/06/2008 - 23:24

It's a "proposed" class action, it has not been certified as a class. CROA is the foundation for the action which is flawed - a google search for "Amicus brief for credit solutions" will enlighten you. USOBA has a verification process and according to USOBA they have always been a member. A google search for "USOBA and credit solutions" will provide additional information about the impact that the company has had on the entire debt settlement industry.
Another quick search for "JD Power and Credit Solutions" will show the original press release for the JD Power certification on their website. JD Power does not "kick out" companies that have been certified.




Unregistered

Sub: #7 well after reading Credit Solutions Reviews i'll have to think t
Tue, 12/16/2008 - 17:58

well after reading Credit Solutions Reviews i'll have to think twice becouse I don't want to have a bab exp....




Unregistered

Sub: #8 credit solutions fraud
Thu, 01/22/2009 - 12:39

I "enrolled" in the company 2 years ago. They "strongly encouraged" me to include my student loan of $25,000.00 dollars. They told me they work work with the loan company and they only enroll the accounts they know they can work with. almost 2 years later I receive a notice from my employer stating that i will be receiving a wage garnishment from this same loan. When i called CS back, they said, oh, we don't work with them. COMPLETE SCAM! Had 11 hits on my credit, and a very high wage garnishment. They said they took the account my error. I am sorry but if CS is going to enroll a $25,000.00 account, you would think they would MAKE SURE they work with the company. NEVER WORK WITH CREDIT SOLUTIONS! No one ever knows anything you are talking about and NO HELP WAS EVER DONE. I actually had to go out on my own to find where these other accounts were at now (because they were closed and sold several times to 2 or 3 different debt collection agencies). COMPLETE JOKE.




Unregistered

Sub: #9 credit solutions rip off
Wed, 01/28/2009 - 21:26

I own Simple Solutions Credit Consulting, Inc. I get several phone calls and emails weekly about Credit Solutions (CS). People think I am the same company because our websites (domains) are very similar. I tell the people who contact us that we are not the same company and how exactly to get their money back. ALL of it! How in the world can companies like this exist? Someone please tell me how that scam companies like CS still is open and how they can keep scaming people such as: don't stop the harassing collection calls like they promise clients; don't contact their creditors for a long while; take client's monies every month while not doing anything to constitute taking it; etc. Several clients have been scamed that contact us! I tell them to: write a demand letter to request ALL of their money back in 20 days or else you (client) will file a formal complaint with the BBB, the State Attorney General's office and the Federal Trade Commission. Most of the clients will receive their money back. If not, they can get together to file a class action suit. Most state's attorney general's offices are starting to sue companies like this and collection agencies also! So buyer beware! It's very unfortunate the consumers don't take the time to google search companies like these before spending hundreds to thousands of dollars with that company! If you want to get ALL of your options and choices to your debt, we have a FREE document "Choices for credit card debt" and is available at: MyCreditSolutions.com or FreeCreditAnswers.com 1.888.303.7722 Ask for Valeri Thanks for reading this and we hope that it helps some people by not using Credit Solutions of America.




Unregistered

Sub: #10 credit solutions scam , i know
Thu, 02/12/2009 - 13:41

not a member myself but know of people in simlar programs;credit solution's a scam. they can't help you. the bottom line is you have to work your way out of debt or be willing to let your credit lapse so you can call in and settle. just stay disciplined and you'll get through it; I did. remember it won't happen overnight. my advice is to first pay yourself and set aside emergency money so you don't have to keep using credit.




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