Credit Solutions

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Credit Discover Card Account Debt resolution nightmare
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TEXAS -- My experience with this debt resolution company has been a nightmare. When you are signing up, so they can collect their fee, you can reach an associate any time. They sure do want your money. After that, forget it. One day, I made 13, yes, 13 phone calls, before I got to talk to a live person. Their sales pitch is; you will make a saving account and make monthly payments to save up enough to allow them to settle for 40% of the balance. Of course, the first 13 payments go to them. They neglect to tell you as you make these payments, interest and penalties are racking up on your account. The contract says this but the sales person tells you "not to worry". "The creditor usually settles for 60% to 40% of the initial balance." And they send you paper work showing how much money they will save you. In my case it was $9450.00. So far I have paid more than I owed initially which includes Credit Solutions whopping $3000.00 fee.

By the time I settled with one creditor, I paid close to what I owed initially. On another creditor, I did the settlement myself and received polite service and they are the only creditor that did reduce my payment amount. Not by much, but some.

Now, I'm trying to settle my Discover Credit Card balance. I was informed by a summons five days before the supposed court date that they were filing a judgment for approximately $2000.00 more than I originally owed. Credit Solutions and the attorney for Discover Card were insisting that I sign the judgment or they would be in court the following Monday. The Credit Solutions representative told me, "Discover and the attorney don't care if I am on life support, they no longer will settle.

They want the full amount on the account." Before I signed up with Credit Solutions I had called Discover to see if they would lower my interest rate which was in the 20% range. I explained that I had been laid off, legally separated and was struggling financially but did not want to file bankruptcy. Absolutely not was the answer from Discover even though I faithfully paid my payments each month. After signing up with Credit Solutions and being locked into a Credit Solutions contract they finally offer to reduce my interest.
As it stands today I paid their attorney an initial payment and offered to pay 60% of the balance that day which included the whopping $2000.00 penalty, late fees and interest accruing the last two years. They came back and wanted $1300.00 more which brought me up to almost what I initially owed Discover in the first place. The Credit Solution representative told me I was lucky they would work with me at all. Again I was told even if I was on life support they would just go after my estate.

I went to court on the Monday which was my court date according Credit Solutions by information supposedly proved by the attorney. NOPE. Not on the calendar. Just another tactic by Credit Solutions and the attorney to coerce me into paying more than what I started out owing before I signed up with Credit Solutions.

Keep in mind I paid Credit Solutions $3100.00 to do nothing on my behalf with any of these creditors.

You never get to talk to the same person twice unless you are willing to spend two or three days battling their phone system and representatives to speak to a supervisor.

Along with my lay off, legal separation, I had cancer. I felt I wanted to do the right thing. Not file bankruptcy.

To be told by the company you hired that they don't care if I'm on life support, Discover and their attorney's will not work with me.To be given a phone extension that appears to not exist when you call it and email addresses that are never answered, I'm puzzled how the company has stayed in business. For three days I have been waiting for an amended letter from the attorney. I called Credit Solutions. Again, someone would call me back. Still waiting.
Whatever decision you make to try to work with your creditors, stay away from this company.

At the time I signed up, one of the major TV networks was encouraging people to use this company.

I feel the creditors are in collusion with the debt solution companies and the attorneys are in collusion with both the credit cards they represent and Credit Solutions.

In any event, find a reputable company to help you. Don't make the mistake I did. In my opinion, Credit Solutions only interest is to make a great deal of money for themselves and allow the creditors and attorneys to do likewise.
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Slimjim on 10/01/2007:
Debt settlement is tricky stuff and each creditor will weigh out how much to forgive (if any) on a case by case basis. Lenders are not in collusion with debt settlement companies, in fact they hate them, or more accurate, the lack of control they have when dealing with negotiation firms. That will change soon as credit card companies will be metering any settlement options to those who only use approved counseling type agencies, can not afford a Credit Counseling Repayment plan, and are a true hardship case and appear ready for bankruptcy. The only option available if all else qualifies, will be 60% of the debt over 60 months.
disgustedconsumer1001 on 10/01/2007:
I would be happy if they would give me a 60% debt resolution over a period of 60 months. The only reduction that was offered was if I could pay the offer, that day, to the attorney. Now credit solutions is telling me I have to deal with the attorney, direct.
I stand by my original statement that Credit Solutions took my money and did not earn a penney of it. Shame on me for not doing my homework. I figured an endorsement by a major TV station was good enough. And what I was told was that Discover, not the attorney, would no longer offer settlement plans. They want 100% of the money. Who am I supposed to believe? But thank you for the advice. I'll try the 60% over 60 months and see if the attorney will agree to it. And at the point I made my monthly payment offer I had other income coming in which is no longer available. So now I'm stuck with a monthly payment I may not be able to make. Had the previous situation remained the same I could have made the settlement offered by the attorney. Again, shame on me for not doing my homework before chosing a debt resolution company.
Anonymous on 10/01/2007:
I haven't heard anything good about those debt resolution/solution companies. Even if you sign up with the debt solution companies, the credit cards are not bound by your agreement with the debt solution companies. You still owe the debt and the credit cards will come after you. Sorry to hear about your problems.
disgustedconsumer1001 on 10/01/2007:
Thanks Fedup. I agree. Nothing they have promised me has happened. I hope someone learns from my expensive mistake and I think there are some good resolution companies out there but you have to do your homework. My hope is that no one makes the mistake I did and that they make sure the interest and late fees stop the minute the agreement is made with the creditor. Don't even do the savings plan that credit solution sells. There's no way you won't get screwed.
warddw1526 on 10/02/2007:
As a first party collector, I am not a fan of debt settlement companies. First as a collector, they can be difficult to deal with as they have their standards that have to be met. For example, I used to collect for a company that would allow for a settlement amount of what was spent on the credit card over 3 months. This was pre-charge off work, so it could be a great deal. Debt settlement companies would tell me they don't have enough in their savings account to do the deal, but would not even take it to the client.

Secondly, I dislike debt settlement companies for another reason. Why pay someone to do something you can do for free? Creditors (not all creditors) will usually work with you. As an example the company I work for now, can offer a settlement at 65%, over 3 months. You don;t have to be a debt settlement company to get that, you just have to neogtiate with us.
disgustedconsumer1001 on 10/02/2007:
I tried what you suggested Ward and none of the companies would work with me until I had signed up with Credit Solutions. Then only one offered to reduce my interest to 10%. At that point I had already paid Credit Solutions a big chunk of money and felt it was too late. I too have heard that these credit card companies will work with you. But it didn't happen with me. Credit Solutions has now responded to my complaint by asking what they can due to assist me. This was only because I copied their Financial Officer by email with my complaint. I responded and I'm still waiting for even a response that they are working on it. I stick by my comment that this company is a rip off. And Ward if these companies had worked with me I would have been glad to do so. Again, only one contacted me though I called them before I went with credit solutions.
Your advice is good for someone just beginning to explore their options and I hope, for their sake, you are correct.
That was not my experience with them.
topher on 10/12/2007:
wow, I just signed up with credit solutions last night. I told them I just graduated from college and looking for a job. they said they would reduce my credit by 60% right away. I'm in debt 9k so they said they would get it to 3500, no problem. What do I do. can I cancel my contract after one day??? I need help!!
disgustedconsumer1001 on 10/14/2007:
Cancel the contract. You will just end up paying more. Work with the creditors directly or get a more reputable company to help you with your debts. They supposedly will refund your money. If they are drawing their fee directly out of your checking account. I would send them a certified letter to cancel the contract and advise your bank not to honor their drafts. These people are unethical and do not have your best interests at heart. I think you have 72 hours to cancel a contract in some states. They are open 24/7 so call and cancel.
jeep82 on 01/17/2008:
I am glad I read your post. I also thought being on NBC made this company trustworthy. I did some research (a little late) and found complaints with the BBB. I also tried calling but of course no answer. I sent 2 emails, 1 to my "debt counselor" and the other to customer service. Customer service immediately replied (I told them I wanted to cancel my account) and gave this # to call: 1-800-950-4817. Of course they wanted a reason for why I am canceling. I asked them to send me an email confirming my account being canceled- still waiting on that one. They did remove my banking info off my account page. I'm going to my bank tomorrow just to be safe.
myerspa on 01/18/2008:
Credit Solutions lie to get you in and then try to cover their butts when it doesn't work out. I was on a 4 year plan that I was forced to settle within 10 months. I had a civil suit brought to me by a sheriff twice. They promise a lot when they actually are basing there knowledge on past issues with credit card companies. They will say almost anything to get you in the "plan". It is a scam!! I am supposed receive money back from them. We shall see.
EYE on 02/02/2008:
I try to talk to the credit solutions customer rep and they transfer me to 3 customer service and I have to wait for 20 mins. Finally I talk to the live agent she was telling me that they can do anything in their behalf and I have to wait for 30 days to cancel it because they are going to talk to my creditors. I told her just cancel it and I will talk to them and she finally cancel it , but I'm going to check my bank let them know they are not going to get my money. I check their company they are not even accredited with BBB and AICCA. I just cancel mine today before they get my money.
lucygoosey on 03/03/2008:
Credit Solutions does not care about you or any of their clients. All they care about are numbers, and not just the ones with dollar signs in front of them--number of clients signed up, number of calls made, number of accounts settled. The sales department (anyone you talk to when you first call to sign up) works on commission only. They don't care about you or the situation you're in. They care about getting you to sign up because it means big commissions and prizes for them. The company runs contests for its sales department all the time. They give away trips to Tahoe & Mexico, pay a contest winner's mortgage/rent for a month, give out cash like it's Monopoly money, all based on how many people the "Debt Consultants" (as if they're qualified to consult anyone on anything) convince to sign up. Last year, they had a big event called Casino Night where they won "Casino Dollars" which they then used the following Monday morning to "bid" on prizes like iPods, X Boxes, and the grand prizes--2 56" inch plasma screen TVs. When you talk to a salesperson at Credit Solutions, they're trying to hit quotas, not help you. And it's not just to win prizes, but to keep their jobs. You don't ever talk to the same person twice? That's probably because the first person you talked to doesn't even work there anymore. The Sales floor should have a revolving door installed with as high as their employee turnover is. Didn't meet your call quota? Didn't sign enough people up? You're fired. And where do you think they're getting the money to send people on those trips to Tahoe and Mexico, and to pay for all those big prizes? From your service fees. So while your struggling to pay your debts, worrying about arbitrations and lawyers, they're vacationing and playing video games with your hardearned money. Sales people make anywhere from $5K to $25K a MONTH at Credit Solutions. How much do you make while you're trying to pay their fee, pay your debts and keep lawyers off your back? The company doesn't care about you, no matter what they say.

Sales people hardly ever check their email. Why should they? Once you sign up, they move on to the next call and forget about you. They may check voicemail, but if you're calling to complain about or question something, your message gets deleted and they move on. Then they go into the break room and talk about how dumb clients are, how they talked them into signing up, how they're buying new houses and new luxury cars with their commissions. If you heard the way the sales people talk about you and then saw them driving around in their Lexus's and BMW's, you'd be sick.

A story on the news isn't an endorsement and doesn't mean anything. The company's own marketing people write what they reporters say.

If you've entered into a contract with them, try to cancel it if you can. If you were thinking about it, run the other way. And if you were thinking about getting a job there, run even faster and don't look back. Yes, I used to work there. No, I wasn't in sales. But everyone there knows how it works.
CreditCardAdvice on 05/01/2008:
Call 1-800-Discover talk to the collections dept and they can refer you to some government regulated firms to help you because discover doesn't settle with debt settlement companys because well there a scam.
allimarie on 07/10/2008:
Has Credit Solutions worked for anybody? I have been a member since January 2008 and I saved what I am supposed to each month, and then some. I have a substantial amount of debt as well. I have settled one credit card for 50% of the balance in one payment, and I have just begun settling my second for 45% of the balance in 3 payments. By my calculations, paying an average of 50% of my balances, I should be completely debt free by March 2009, almost 2 years ahead of schedule. Yay! I am not crazy about having to pay a fee to have this done for me, but it is what it is: they are providing a service to me and I am using it. As far as being able to reach people, I have never had a problem. Any time I have a question I don't hesitate to call. I always get a response as well. I receive emails of settlement offers the same day it goes through. Should I be worried if I am saving the money properly? Also, does anyone know approximately how long it will take your credit score to recover after you finish the program? Mine was excellent before I entered the program and now it is pretty awful. I ammainly concerned about the long term effects this will have on my credit as opposed to the immediate ones. I like to think I have everything under control but I don't know what lurks beneath the surface! Any input on this would be wonderful!
barbiee212 on 07/22/2008:
I cannot believe I wasted money on this crap. I'm so upset. I thought because it was on NBC it was real but its not its a scam. I shouldve done more research on this. now I'm trying to cancel it n they're making me hold forever...
Naboula on 09/20/2008:
I am not satisfied. I was informed when I wanted to open my account that I will save 50%. they did not tell me that the 50% is from the day I want to settle not from the date I joined credit solutions. I just settled an account that was $1000 when I joined credit solutions for $700 (70%) add to it the 15% credit solutions charges, the total in 85%. not worth destroying your credit for it. You guys should be honest and tell people that the penalties and interest will count. I was told otherwise, and when I pointed that out, I was told "sorry you were misinformed" that's all. I will talk to my creditors and make my own offer. I think this will work better.
gunngal on 11/15/2008:
I'm curious to know....and I can't seem to find it on their site or anywhere else...I've been with them since like February, and its been a nightmare. I do all the work and I haven't saved squat...I basically am just paying them for the work I do. My question is, do you know how I can cancel it without penalty? Is there a penalty? I have total regret over signing up with them.
Nolefan on 11/17/2008:
gunngal - you need to cancel your contract immediately. You will not get charged! I consulted with a lawyer and they advised that I close my banking account also. Credit Solutions will do everything to still withdrawal from you even with a cancelled contract. GET OUT!!
AfricaRN on 11/24/2008:
Right along with many of you who did not do the research. So desperate to get out of debt...can't save because paying their ridiculous fee. Will make work having read all of this of canceling especially since we have been threatened by legal action. Thanks to the previous employee for confirming suspicions about this company's policy, like we need them in the economy we are in. I do have a connection with writing to the new presidential staff and will make sure they are aware as well as the Better Business Bureau.

For myself, looks like a trip to the lawyer and the long-avoided bankruptcy is soon to become a reality.
connect four on 12/02/2008:
Nole fan, Gun gal.
how's it go with CreditSolution. did you cancel?
Foxie on 12/05/2008:
I just got done looking at their site tonight and the first thing I noticed was they did not belong to any accredited credit counseling groups. I hope the following information helps some of you. I have been looking towards a debt solution as well and of course I would love it to be fast lol. I have more time then most people since I am disabled, hence my huge change in my financial picture. First I suggest you read the following article: You will note one of the major themes is there is a huge, and I mean huge amount of nonlegitimate agencies out there right now who will take your money and close up shop. Scary stuff. There is also a link for : This is an accredited site for credit counseling agencies. You can find a list of accredited ones for your state. I had been looking for one I had heard of from the Oprah shoe but could never remember the name, well they were listed. I had gathered all my paperwork for a local company, which was not listed...then called the one that was just yesterday. I was extremely impressed with it being nonprofit and the payment was less than half of what I've been paying. Also this was a nationally known company therefore they have good relations with creditors that some companies may not. ONe of my reasons for changing my mind about the local non profit company I was investigating.

I wish everyone of you well and will keep you in my prayers. Its so disheartening when you are trying to do the right thing and then get hit hard with the scamming. Please let me know if I have helped any of you. By the way the gentleman I spoke with was professional and get this..has answered everyone of my email notes quickly. And to set up payment is only 25 dollars.

I joined this forum when I saw your stories and hope I can help you. I have tried to talk to creditors myself. Some help, some don't and lol some I cannot even understand their accents, so I knew I needed help!

Foxie on 12/05/2008:
If you are looking for help in this arena, please look at my full posting above. Hopefully I will help someone out there in credit debt land.
bgs720 on 12/10/2008:
I just canceled with Credit Solutions after reading all of these posts and several others on other websites. After talking to three people I was finally able to get my account canceled. They take every concern you have and put a very good spin on it. It is amazing. They are going to send me a cancellation email and hopefully that is it. Fortunately I was on with them since last month and missed only one payment with my credit card companies but I called them and they seem willing to work with me. Credit Solutions told me that they will send a notice to my CC company and let them know I am no longer working with them. That means that you will owe whatever penalties that were accrued by your CC company while Credit Solutions were "holding" on to your money in their account.
stressed89 on 01/06/2009:
For anybody who is considering joining credit solutions or has started a program with them,CANCEL!!!DO NOT HIRE CREDIT SOLUTIONS!!!!!!.They are no better than the credit card companies.Wait til you get settlement letters from cards and settle yourself!You don't need credit solutions!!!I made the mistake of using them and boy they are liarsThey hooked me in to get my money that I really didn't have or I wouldn't have hired them,and when they were paid off they don't want to do nothing for me!And I mean it!Its near impossible to get someone on the phone and when you do you have to go through the same routine questions every time.Two of my credit cards took me to court before I hired crooked solutions.I explained this to the crook and he said "no problem,they will still settle".LIAR!I'm now ready to settle on it and guess what..they won't settle nor will other ones.So the bottom line is that I paid crooked soltions 1700.00,and owe more than I did when I started the program.I'm in the process of hiring an attorney to sue crooked solutions and get my money back plus hopefully A LOT more.DO NOT HIRE CREDIT SOLTIONS!!!!
disgustedconsumer1001 on 02/05/2009:
There has been some really helpful information on this topic. Just wanted to let your folks know the latest scam. We all know about late fees and penalties. Since the credit card crisis and the takeovers by one bank over another, we have a new trick by the credit card companies. One of the cards I had was Chase and paid off the settlement agreement through credit solutions. Keep in mind, I paid more than what I owed when I signed up with credit solutions. Now that I'm back on my feet, I pay everything on time. Chase buys Washington Mutual, where I have an account and credit card. My interest rate on the card jumped to 30%. I'm just going to pay it off but beware. Chase has a large share of the credit card business so I imagine anyone who went through any debt resolution company but is now involved with Chase because of a takeover is going to take a big hit on their interest rates. It ought to be illegal and I think the laws change in 2010. How can they pay 2% interest on savings but hit you with 30% interest. Our country has become riddled with crooked lenders and credit card companies. I am no longer proud to be an American. I know this is off topic from my original post but I had to warn you guys. These companies should be ashamed and I was a fool to get in over my head. But I tried to do the right thing and it cost be more than if I had filed bankruptcy
bad4044 on 03/04/2009:
I just signed up with them for 2 months now has anyone been helped by them
debtfreefinally on 06/22/2009:
I signed up with Credit Solutions in October of 2006. I was in a heap of financial trouble, about 40k in debt with cards at 32% interest rates. Overall, I am pretty satisfied with Credit Solutions, I felt they were quite helpful and I settled all of my debt in 2.5 years, all at a decent savings, but not at the 40% they talked of. You have to be able to put away more than they tell you to, that's for sure, but since I wasn't making payments on the cards anymore, it was doable. Over the course of the plan, I did receive a couple of summons, court dates, complaints, etc. It wasn't fun, but it seemed like people were willing to work with me. Even the summons server had suggestions for helping! It was stressful, don't let them convince you that it will be a walk in the park. For a while, I didn't open my mail or answer my phone. But when all was said and done, I was debt free, still had my home (something I worried about a great deal!), and three months later I got the courage to get my credit report, and all cards were listed as "settled for less", but my score was 803! I was sure expecting a bigger hit, but my credit was great until I stopped paying my bills, so that still was taken into effect. Is Credit Solutions perfect? No. Do they do
EVERYTHING they promise. No. Did they help me? A great
deal. Would I use them again if needed. A resounding yes. It feels so good to have no debt. They settled everything for less, including Discover, whom I heard would not lower below 80%, but settled both of my cards for 60%.
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Easy to Enter, hard to Leave
Posted by on
I saw an online ad about debt settlement. it was from I called in and talked to a real nice guy who gave me the run down on the system. I wasn't intending to make a decision right then and there and I told him that. He said that I could wait and let him know next week if I want to go ahead or not... and he set me up with an account on their website.

The website is very slick and nicely done.

However, as I reviewed the paperwork more and more, my wife and I went online and decided to see some reviews of A simple google search brought us to this site were we saw a lot of negative feelings. The reports seemed genuine. While there were some positive reports, the positive folks didn't seem to have been in the program for very long. One guy had been in for 13 months but only settled one account... so he/she prob didn't have the IRS earned income problem that others reported.

Truth be told, did mention that any money you save through their system may be considered Earned Income by the IRS. However the representative didn't go into details nor disclose how much of an impact that would be. I read on here one fellow had all his accounts settled then the IRS came after him and now he owes them all that money saved. he just traded one lender for another.

After reading these reviews, I checked the BBB - and they rated Credit Solutions with an F. So I call in to cancel. It may be a good system, but I'm not comfortable with a company with a rating of F with the BBB. I call on a Saturday and talk to a woman who decides she needs to save me from leaving. She argues, argues and argues. She even gets rude and obnoxious. Basically her point is, "we're not part of the BBB system, so when people complain our expert customer service handles it outside of the BBB - so the BBB will give us an F because we don't do the arbitration with them." I didn't buy it. When I made a couple comments she got rude and obnoxious. Really hostile and combative. At this point I had to just interrupt her and go "hey hey hey... just close the account already."

Finally she says, "I can't do that. You'll have to wait till Monday."

so she wasted my time, and was combative and rude to me. I called in on Monday and talked to another person... who basically forwarded me to an account specialist. Basically someone trying to keep you from canceling. He gives me the big show. How great his company is. Everyone else is peanuts compared to Credit Solutions. No one else compares.... it's so over the top it has to be false. Their ego is just too big. He goes on and on about how the BBB isn't relevant and reiterates what the lady said a couple days prior. After he talks he wants to know if I agree with him, I say I don't and that I did find a debt settlement company that had a A- rating with the BBB... he got quiet. I mentioned I still want to leave.

He then asks the typical, "what will you do with your debt situation without us?" I reply it's not his concern... and he puts me on hold. He comes back to throw a jab about how there are big companies like Walmart, and small peanut companies that try to compete... and how no one can really compete with a giant like Walmart ( i.e. Credit Solutions is the Walmart of debt settlement.)

Here I'm thinking, if your so damn big why is it so important for you to retain a single customer? If I want to close an account with Walmart they don't try this hard to retain me. They don't care. because they're so big.

My gut feeling with this company is:
a) they may do what they say
b) their egos are huge
c) customer service is a crap shoot. you can get a nice guy, or a hostile employee
d) they are desperate to retain customers - which means to me, they are small timers
e) if another debt settlement company can get an A- rating with the BBB then they could to. saying "we're not BBB certified" isn't an answer... as they should be able to get certified! Esp. if others have done it.
f) I wasn't "impressed with their amazing customer service" since I was treated with hostility and rudeness by one employee and over ego by the last one I talked with.

All of the above makes me nervous to use this company. If it is a legit and great opp. then I'm passing on it for the reasons above.
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tnchuck100 on 01/04/2010:
Excellent review. Most, maybe not all, "credit assistance companies" create more problems than they solve. Their basic function is to relieve you of even more money that could have gone to pay bills.
Slimjim on 01/04/2010:
From what I understood (from a bureau chairperson), the BBB tends to start debt arbitrators at a "D" and work down from there. A strange ( and open to suit)policy based on industry and I would probably care quite a bit if I worked at such a place. I am surprised you found a settlement company with an "A-". I'm betting they do other services too, hence avoiding the mandatory low grade.
I do like the fact you didn't take other's opinions as law and acknowledge they may work for you, but you don't want to risk it. Most come here armed with bad reviews and start ripping a place like they have any first hand knowledge.
An example, forgiven debt IS taxable, just like a reviewer said. I doesn't push off or break even though. Taxing is done on a percentage, so obviously that reviewer was in error.
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Poor Service Quite Often
Posted by on
Things that frustrated me about this company is that they added to my account a credit card from my bank Wells Fargo and they didn't even ask me if I banked with them and then they charged me 15% only to call me later and say oh we found out you bank with them so we can't do that card but we are still going to charge you 15%.

Then when you settle they don't mention that you will count as income the money from the credit card you settle. They were very, very poor at responding and would always promise to get back with you and after about 10 different individuals I finally got one that was good named Robert Mi!

One lady after I was going to cancel because I ended up paying 150% of what the enrolled amount was because they never called the credit card company. I received a garnishment and this was after I already had dropped the program and re-enrolled because they promised me they would take care of it.

When I received the garnishment the guy said did you receive anything from this company. I about fell on the floor since I had emailed literally about 40 or so times and spoken with individuals on the phone.

Then after dropping again I was foolish enough to stay with it again since it seemed I wouldn't get the money back from them I paid and the lady again promised she would get back with me. I even said before I got off the phone I don't want to be a pessimist but I have been told that a dozen times from your people and they don't get back with me and I don't get monthly calls and I have an answering machine. She said oh I will and I will email you. Guess what I never got the info back she promised over a month later.

If I had handled the credit card myself I could at least have put the interest on hold and not ended up paying bank fees for the garnishment and 150% interest.

Also be sure to ask them how they hold themselves accountable to the "Estimate" they give you because every one I get from them they email and say is so great or on this last one they even called and left a message! but it is 22% settlement and not the 60% they estimate. They have never been able to give me numbers when I ask what the percentage rate of people that actually settle at 60% of their estimate. They won't even tell me half or a third.

They might as well tell it will be a dollar you will settle since they don't keep their own word by contract

"8. Service Guarantee. If COMPANY is unable to settle an enrolled account, COMPANY will refund to CLIENT, an amount equal to 15% of that particular account balance at initial enrollment. CLIENT must have sufficient funds to settle
the account in order to be eligible for service guarantee."

Well one would think after paying a 150% of enrolled debt that would be evidence enough and they should at least refund the amount of the 15% and I had to spend over an hour on the phone and several emails disputing how they didn't do their job and thanks to Robert Mi I was able to finally get 13% refunded. However again I paid way more and hours and hours on the phone and email when I could have just handled it myself and had much better results.

This company has been a pain for the most part to deal with although the people are really friendly. My favorite thing is almost all of them have said to me that yeah I am really good friends with person X at this company or they know them well. Which must be part of their training to instill confidence.

Being in debt is a pain in the head in the first place and it kills me to not be able to pay my bills. I have called all my credit card companies and told them my situation and a few of them lowered my interest rate but I got in over my head and didn't know what else to do.

In hind site I have to say it has brought some peace of mind knowing that at least I have a company that has power of attorney even though it seems like everyone I have worked with is probably in between 18-30 and doesn't have much of a clue about what they are doing (I will not go on because I can).

Trying to work like crazy and deal with creditors was more stress than I could take and as much stress as it has been dealing with Credit Solutions at least they have bought me some time to get some money together.

My advice don't get in debt unless you MUST (really helpful advise I am sure). Being in debt STINKS and I figure that is the price I pay for not being able to pay back my debts at the crazy high interest rate of credit cards.

For what it's worth...

Also if anyone wants I made a handy Excel spread sheet that shows the savings and amount of savings and what rate you should be quoted the difference etc. With a call log page and many other helpful info. Email me at semijunk hotmail dot comm. I don’t want to have to explain it but you are welcome to

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Do Not Enroll With Credit Solutions.Com Debt Settlement Company
Posted by on
My husband & I enrolled with this company, thinking we can get some help with credit card debt. Instead we developed ulcers, high blood pressure and a lot of stress dealing with these people. You can never get them on the phone, and when you do, you're put on hold for a min of 30 min, and the person you need to speak with is never in. The sales person in the beginning is very convincing and seems like he/she cares.

Yeah, right. Once you sign the documents via e-mails, they got you! They promise the world, but delivering is a different story. They claimed they contacted your creditors, but the collection calls kept coming. It took 5 months to settle one acct. and that was constant persistence through me. My 2nd acct. I settled on my own and did a better job at getting a settlement amount then they did! Now I have to fight them because I'm not paying for services I never rec'd from Credit Solutions. They claim they sent documents to the creditors, but the creditors never did get anything from them, not even a phone call.

When I asked for fax confirmation, I was told they don't keep fax records, how can you fax over legal documents and not keep fax confirmation records of them? It a nut shell, don't use them, work with your creditors on your own, you just might be surprised, I was! This company is a terrible company to deal with and the employees and short and nasty at times, very young and inexperienced people trying to do a professional job. I hope this email helps someone out there. If you're in a lot of debt and find no way out, get an attorney that's local and leave it up to the real professionals. PS-I never give my comments about anything, but this was such a terrible experience for my family I just had to let someone else know about Credit Solutions Company.

If you are already enrolled, please keep all of your emails and print them out! Keep all records of settlement letters, power of attorneys and you signed with Credit Solutions and try to get away from them if you can. Google reviews on this company and you will see why, I wish I had first.
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Credit Solutions
Posted by on
Before agreeing to sign up with this company or any company that is offering to settle your debts, make sure you understand they can only help settle your accounts when you actually have the money to pay it off... whether it's in one lump sum or over a 3 month period. Keep in mind that you are also paying Credit Solutions a monthly fee for what they claim their service is to you. The monthly fee is determined by a certain percentage of how much you actually owe the credit card company/companies. Also, once all of the accounts are settled and paid, you then have to pay whatever you owe Credit Solutions within a 3 month period or so time frame, not within 36 months or whatever program you agreed to. I was not told this up front. This is important information that was left out when when I agreed to use them. Even after repeating the terms I was told, their customer service person failed to tell me that and I wish I knew this because it would have made a difference for me. Did they help settle my accounts...Yes, they did. However, I still received many daily annoying, harassing and even seemed like threatening calls from the creditors... even after I explained to them I was on the program, they didn't care and continued to do so. Credit Solutions cannot stop those annoying creditors from calling all phone numbers found for you (including family/friends/current & previous employers). The creditors or 3rd party company will also mail you at all addresses found for you. Over all, if you have the money to pay off your debt, and understand by defaulting in your monthly payments that your credit score will decrease, then do it. However, if you live pay check to pay check, strongly think about it before agreeing to their terms. Hope this helps.
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MDSasquatch on 07/29/2010:
Also be aware that any amount that is forgiven is considered income and you will have to pay income taxes on the amount
saj80 on 07/29/2010:
If not forgiven, which doesn't happen very often (usually in real estate transactions, including short sales, etc.), after a pre-determined amount of time, the remaining balances will be sent to a collection agency, where the fun starts all over again.
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They did help, you have to make an effort to pay you credit cards
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I have been with Credit Solutions for a year and a half, they have settled three out of four of my credit cards for less than 60% of what I owed. The fourth credit card I got a threat of a lawsuit against me for "breach of contract". I called Credit Solutions about this and they took over, transferred me to "special settlement departments" reassured me they had experience dealing with this, stated they had good contacts at the prosecuting law frim and within the next day had a settlement for this card. Four out of four cards paid and I am satisfied. They helped me pay off debt which would have taken a lifetime to pay off in less than two years. Yes, this did lower my credit score, but now I am debt free. I can begin to build credit again, although I do not want to get in that credit card trap again!!!! I am fortunate that I already have a home, car, etc. and I have no need for loans in the near future and I can work on rebuilding credit. This service is not cheap, and I known that settling debt can be done on your own, but I did not have the time and Credit Solutions saved me more than you can imagine. You have to make the commitment to make it work, you have to save your money to settle these debts. Most people are not happy with Credit Solutions because they have not made the effort on their part to really commit to getting these debts paid off and instead spend the money they should be saving to pay off their debts. I do not know why some people say they have been with them for a year and no debts settled, you can call customer service and let them known, I am ready to settle another debt and they have been on it. I think the people who have complaints have made no efforts on their parts or have other situations that they are not disclosing. It worked for me and I would use them again, but I hope I don't have to!!!!!
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Slimjim on 01/12/2010:
I was checking out Ripoff Report earlier today and I saw these guys signed up for ED's "Corporate Advocacy Business Remediation & Customer Satisfaction Program" It stuck in my mind as I remember seeing this company got complaints here.
While I'm not questioning your compliment, I will say they got a good deal here at M3Cs. It probably was 5 figures for them to get "ED" to say this-- " Rip-off Report gives Credit Solutions a positive rating because the company revamped its Customer Service Department and reached its goal to achieve total customer satisfaction and excellent service. This was made possible by a totally honest approach to corporate introspection."

old fart on 01/12/2010:
"sry pet peeve of mine"...? what is sry...?
Slimjim on 01/12/2010:
"corporate introspection" LMAO, just reading that back gets me laughing. Good old Ed.
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Not Deserving Of These Caliber Of Complaints
Posted by on
TEXAS -- I have to refute the comments I have been reading. I am under contract with Credit Solutions and after 13 months have just settled my first account very satisfactorily. Reduced almost 60%. The second account is still pending as I do not have enough for the CC company to make an offer. My experience is that the representatives are Right ON whenever I have called my questions have been answered &/or resolved. The company has been in business for 7 years and having been in the corporate world all my life I do know that the BBB does not yet have a "category" for this type of company as it is Not a debt consolidation company as many people think. Debt consolidation firms were developed by the credit card companies. Credit Solutions is a debt settlement company. However, if you speak to the BBB in Texas they will tell you all complaints were addressed and resolved by Credit Solutions. Not something most companies can claim. Credit Solutions is also working with the Attorney Generals in all the states to obtain a "category" under which they can be listed. This companies awards are many and irrefutable and the people who have complaints I believe, were not honest and forthright with the information they initially gave to Credit Solutions form the onset. TO address one complaintant...this company cannot settle an auto loan and this is made clear from the beginning. It might be useful if all of you would learn how to READ, this way you would have picked up on these little facts. Unfortunately we live in an instant society and people "assume" where they should listen and read. This company successfully settles millions of debt for consumers every year.

I recommend Credit Solutions to those of you who need help. All I can offer to you is to ask questions, read the contract before you sign and be sure that what you are asking them to do is indeed within their capabilities! Good Luck and understand that not even Credit Solutions can take on every type of debt situation out there. sign me, Satisfied
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DebtorBasher on 10/05/2009:
Anyone can get request a settlement on their accounts. Most of them will accept a settlement if the only other option is not getting paid at all or bankruptcy. Have you tried settling your accounts on your own before going to Credit Solutions? What kind of fee, if any did they charge you? Most of these places take their percentage out of your monthly payments, leaving close to nothing going towards your account. Other companies, take the entire fees from the payments for months before they even apply any to the account. Then you have Consumer Credit Counseling, and they are the only ones that I've known of who works with the people, and most creditors/collection agencies will take the fees as a write off (donation) for CCC instead of the consumer. For example, if the consumer sends in $1.00 on their account, we would get maybe a 75 cent payment from CCC, but we would credit the account the full dollar (apply .75 and write off .25). And Yes, we WOULD get monthly payments of sometimes even LESS than a dollar. It's a lot of paper work for us, but we agreed and accepted it.
MSCANTBEWRONG on 10/05/2009:
Excellent information DB
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Complete And Utter Rip Off - Don't Do It - Credit Solutions
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TEXAS -- Credit Solutions ( is the biggest rip off I've seen to date. I could not get rid of the 'salesman' continuously calling me after I requested info online about the program. The promises are great. The Truth is far less appealing. The moment I signed... nothing. Not even to answer a simple question. Emails "bounce back", phones are 'disconnected'. I honestly don't know how these people sleep with the lies they sell. And it is the consumer who in the end is hurt.

The idea is that you pay them for 3 months a sum of money. That money is then split and continue paying them with the idea that you put the other half in a 'savings' to accumulate. When you get a large sum of money, call them and they will negotiate with one of your creditors. I received a bonus from work. Called them to negotiate... guess what, nothing. Couldn't even get a response.

I suggest working it out with your lenders yourself. They have hardship programs and in the meantime you can also negotiate with them on your own. It will save you lots of money in the end.

I chose them because they were recommended by NBC. NBC should apologize for misleading the public. Credit Solutions should be closed and its executives arrested for fraud. They do absolutely nothing for you but get you deeper in debt. And there response is, "just don't answer the phone" when the debt collectors call. Now that's sound..... STUPID advise. Credit Solutions is a lot of things (none of them good) but it is NOT the solution.
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Anonymous on 04/08/2008:
Good post, getting out of debt is a tough road to travel. Good for you for making that choice. Best wishes for your success.
old fart on 04/08/2008:
Most creditors are happy to develop a payment schedule.
These 3rd party operations have always been shaky operations and are to be avoided..
How can it make any sense to pay a third party to "help" you get out of debt?

Not answering the phone is probably the worst thing you can do...
Anonymous on 04/08/2008:
It was recently discovered that my mother-in-law is suffering from dimentia, and as a result their financial status had taken a serious blow. My husband worked with the creditors, but sadly found that many were unwilling to work with them. Eventually, they developed a workable plan overall, but it took a lot of hours and determination.
old fart on 04/08/2008:
I stand to correct myself... most creditors aren't happy, most are reluctantly willing to establish a payment plan..
Slimjim on 04/08/2008:
Although the phrasing sounds a bit short, not talking to you lenders isn't stupid advice in itself. When you hire a company to negotiate settlements for you, it isn't wise to open discussions up yourself. That being said, your in turn should be able to reach and work with your settlement company without the difficulties you describe.
Ponie on 04/08/2008:
'I chose them because they were recommended by NBC.' In what way did they recommend the company? If it was a commercial on an NBC station, anyone can buy air time to advertise provided they have the money to do so. Money is money to any company. Of course, if it's hate speech or NBC receives a multitude of complaints against one of their commercials, they may decide to not accept any more commercials from that entity. Just because it's a commercial it doesn't mean NBC 'recommends' them. Is this what you base your claim on?
charlie24201 on 10/04/2009:
All of the Cable TV, TV, and radio stations promote these scams. They are aware of them but do nothing because these scams put YOUR money in their pockets.
Think about it.....99% of these scams started with an INTERNET,unsolicited E-mail, TV or RADIO advertisement. The testimonials and guarantees are nothing but lies to get your credit info. If you disagree with this statement, Please prove me wrong.
Anonymous on 10/04/2009:
I do know the Consumer Credit Counseling Service is 110% legit. They are nonprofit and funded through programs like United way. In some areas, you may be required to pay a few bucks (VERY FEW) for postage, etc)
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Credit Solutions Does Its Jobs
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I always had sterling credit and paid all my bills. It was a shock and caused high anxiety to find myself in terrible debt after losing two jobs and funding a business startup in a worse than slow economy. I read about Credit Solutions one evening when I was feeling fairly desperate and decided to sign on. I wonder how many of the negative comments have more to do with not understanding the role that Credit Solutions and companies like it play in resolving debt situations? I paid Credit Solutions for a service -- and the service was to handle the creditor and collection calls that were driving me to distraction, to provide me with a program to follow so that I could feel hopeful of getting out of my situation and to settle on some debts as I had money available. They did a superlative job on all three counts -- and their customer service was great. They always explained issues to me and helped me avoid being taken advantage of as a result of panic. When my debts had been whittled down to the point that it was no longer cost-effective to stay with Credit Solutions, I left and settled the remainder on my own, not without hitches, I must add. These collectors are often rapacious and dishonest -- Credit Solutions made sure deals were handled properly. I never had trouble with settlements they made, and they made some excellent settlements, one at 40% on the dollar. Bottom line: Credit Solutions is one tool you can used to get out of debt. You still have to do the work. I did, and I will soon be out of debt.
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This company bleed you to death
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I signed with Credit Solutions with there bogus promises of saving me 60% to 70% ,I never even got 45% off, but they collected all there fee from me, when I got the best offers from credit cards they never even let me know and declined on behalf of myself so they can collect more money while I am waiting for another settlement to come finally I ended up paying more with this company than the credit card itself offered me plus there bleeding fees. now I am done with my credit cards and there fees they still constantly calling my husband and I saying I still owe them fees I sent them e-mails saying I paid every thing these people casted me my marriage with harassing phone calls and still night and day they calling after 10 months later also. if I went with the credit cards itself for a deal I wouldn't have been paid these scum bag company 7000 dollars and still harassed by them.
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