Credit Solutions Complaint - Credit Solutions.com. Discover Card Account Debt resolution nightmare
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 judgement 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.