I lost my job in March 2009 and joined Credit Solutions in June 2009 after trouble paying all my credit card bills. To only have to pay/ save $400 a month instead over $1,000 I was currently paying on credit card debt sounded like the right decision to make (the only decision in my mind at the time). The first six months of the program was the hardest. I was receiving creditor calls, letters, etc. (someone even showed up at my door), and didn't have enough money saved to make any settlement offers.
Plus, I wasn't sure what Credit Solutions was supposed to be doing on my behalf since I stopped paying my monthly credit card bills. I couldn't understand why people kept calling. This was so disheartening. Then, after 6 months an offer came in from a credit card I owed over $5K on. It was a great offer and I was able to settle my first account for less than half of what I actually owed. I finally had faith in this program I had been buying into for 6 months. A few months later I paid off two more accounts (thanks to Christmas money from family).
Recently I was receiving calls from one of my creditors, but it was just sold off to a third party, and Credit Solutions knew about it before I did and updated it for me on my online account. Since this account was sent to a collection agency, I have stopped receiving the annoying phone calls. So, I know that Credit Solutions has been in contact with them and they know I am on this program. I will continue to save and hopefully I will be done in another year (which seems like forever in my mind). If all goes as planned and I continue to save, I will have paid off all my credit card debt in 2 years.
I was on a 4 year plan originally with Credit Solution, which at the time was better than the 35 years it was going to take if I continued to pay minimum payments. The only reason I write this, is because I was one of the confused Credit Solution customers reading all these horrible reviews and wondering if I had made a huge mistake. Well, I am halfway through my debt, so I personally think it has been worth it. Having someone on my side to help me when I had questions while making the negotiations on my behalf has been worth their service fee.
Plus I have already saved twice as much as their total service fee and I still have more to save when I settle the remaining accounts. It is not easy, and, yes, your credit score will be destroyed (I am afraid to look at mine). But in my situation, it seemed like the only way to get out of debt. Paying the rent and buying food for the kids seemed more important than my credit score at the time. :)
RICHARDSON, TEXAS -- The thing that I want to say is my experience with Credit Solutions which was nightmare. I believed and I was under the impression that Credit Solutions helps people get out of debt. When I was first enrolled I was told that I was going to be helped by them, calling my creditors and updating them of my situation. Little did I know that they had not checked all my creditors that I have. One of them was my HSBC Auto Loan of which I later found out that they had put it under their system as a student loan.
When I got letters from my HSBC Auto Loan I explained that Credit Solutions was helping me with my debt and was told by my HSBC Auto Loan that they had not heard from Credit Solutions. I then called Credit Solutions to see what was going on. By this time my payment to HSBC Auto Loan was over $1,500.00.
I finally was able to talk to one of the representatives at Credit Solutions and told them why they had not contacted HSBC Auto Loan. I was told by the representative that they don't handle auto loans and they did not see have anything listed on my account with Credit Solutions as being with HSBC Auto Loan, and the only they showed in their system was a student loan of which I told them that I don't have a student loan.
Credit Solutions then told me that I would need to talk to HSBC Auto Loan directly and make payment arrangements with them. I told Credit Solutions that when I registered with them. I gave them all my information as to what my creditors are and they confirmed with me that they would take care of it.
That was one of the issues that I had with Credit Solutions. During the last past months my assumption was that they were talking to my creditors and keeping them informed. About seven months ago of which I already had paid them over $2,200.00, a letter was mailed to me about a court hearing of which I was shocked to see. I faxed that letter to Credit Solutions and was told by them not to worry and that they would take care of it.
A month later passed and a summons to court would be required. I then called Credit Solutions and told them what is happening with one of the accounts which are with Target. Credit Solutions told me hold on and will contact the creditor. Then finally I was told by Credit Solutions that if I wanted to make payments with one my creditors or else they would take me to court.
Now I did not have any experience in this. I asked Credit Solutions how much the creditor wanted at the time and Credit Solutions said that I would have to come up with $800.00 and there would be a monthly payment of $170.00 a month. About three months ago I got laid off and have been unemployed. Trying to pay bills and my creditors of which is too much to handle. Actually I was going to cancel my registration from Credit Solutions sooner but I thought if I get out who is going to protect me from the creditor that I need to pay.
Two months ago I faxed in several letters and called to see if they received them and was told "No, we have not received anything". But I knew that they had received it since I have gone to Office Max and make sure that it went through. Yet they said they never got anything.
Again I thought I really did not have a choice but that I had to have Credit Solutions since I thought that creditors would hurt me. Honestly that's the way I was thinking. Until this past week that I saw that I did not have enough money to pay my bills. So I called Credit Solutions to see if they could help me. I told Credit Solutions if they could check and see if I can skip one month of the payment that I'm paying for Target.
Was I surprised when they told me that I needed to talk to the creditor and they would go ahead and help you. That did not sound right to me but again I have no experience in these matters. To my surprise he told me things that I did not know. And to top off he was very friendly, willing to work with me. He said there cannot be any changed and the case is in litigation process of which I did not know. I asked him if it was okay for me to cancel my registration with Credit Solutions and was told that it was okay.
I'm a person that does not like to discuss or argue but if I know something is not right I just simply will say "Please, I really don't want any part of it. I lost a lot of money paying to Credit Solutions of which I could have paid my other creditors.
ADDISON, TEXAS -- Trying to get anything done through Credit Solutions was beyond painful. My MINIMUM time of being on hold with them was an hour. I never talked to a person who had a clue what they were doing, and their "superiors" never got back to me in a timely manner. And when they did they only made unfulfilled promises, and nothing ever got done.
The whole "company" is so difficult to work with. I was shocked that the BBB gave them a good review. Clearly no one at the BBB apparently ever worked with Credit Solutions. I ended up settling my debt because that I had no more patience dealing with this company. Once I called my credit card company they told me that Credit Solutions barely made any contact with them, and communication was scarce. So what exactly was I paying for? Oh yes, being on hold for hours upon hours.
The biggest blow was receiving my settlement letters. For some reason they were "misplaced" for WEEKS and no one knew where they went? They were not handled properly and no could help me. So for WEEKS I had no proof that my credit card debt was settled. My piece of advice - do not EVER work with this company. And I will be sure to spread the word.
They promised to settle all my accounts for less than 50% of my balance and I ended up paying more on my Capital One. I only owed 590 and I ended up paying 597 with the threat of litigation if I did not settle. They promise to help but all they do is charge you a ridiculous amount of money and you really do not even save CLOSE to 50%. I did settle 3 of my accounts but they were smaller. My largest account I owed 6000 and I had to settle with 3400. With the fee Credit Solutions charges I might have saved 1000, really not worth the hassle. So yeah it SOMEWHAT helps but they just want your money, and half the time you have to stay on their butt about getting settlements.
RICHARDSON, TEXAS -- Thanks to good people like you sharing your experiences I got out of "Credit Solutions" before it was too late. I signed up 1 week ago and already had all my creditors enrolled with this scam. the hardest part of recovering from this mistake was cancelling the account with Credit Solutions which turned out to be a 2 hour phone call process. 1 hour of the call roughly was on hold time. The rest was being juggled around to different salesmen trying to convince you to stay with the same pitches as the original salesmen gave me.
After all that they claim that my account was closed and that none of the first payment they took was refundable $231. We'll have to see about that. I may try calling and getting it back. But I don't want to deal with them anymore and I'm glad I got out of it. I called all my creditors and explained the situation. All of them were understanding and most swiped off the late fees that I accrued being told by Credit Solutions not to make them. Stay away from this scam!