The news just can’t seem to get better for Credit Solutions of America. It seems like every time I turn around they are getting sued by another state. This time it is the Vermont Attorney General, William H. Sorrell, filing suit against Credit Solutions. Perhaps he didn’t get the TASC and USOBA memo that high upfront fee debt settlement companies are somehow good for consumers. Or maybe he did receive it, recognized it for the BS that it was, and then went right on busting these guys.
The lawsuit alleges that Credit Solutions used unsubstantiated “results” claims to advertise their debt settlement services on the Internet, failed to properly notify consumers of their right to cancel their contract, and charged fees up front in a manner that amounted to an unfair trade practice.
Hmm TASC and USOBA are saying front loading fees is imperative to a consumers success, and the Attorneys General that are investigating these programs seem to be saying it is an unfair trade practice.
The Vermont Lawsuit against Credit Solutions seeks injunctive relief, refunds and other compensation to consumers, civil penalties, fees and costs, and other appropriate relief.
I also heard a rumor from someone who heard a rumor, from someone else that heard a rumor that Credit Solutions might be closing their doors. Hmm, so is that like a rumor twice removed? Well since I can’t substantiate that rumor at this time, I don’t know if it is true, but if Credit Solutions doesn’t turn things around in a hurry, they may not find many States left that they can do business in anyway.