Credit Solutions of America is another of a long line of Debt Settlement companies currently in hot water with State Attorney Generals throughout the Country for unfair and deceptive business practices. As is almost always the case, the unfair and deceptive practice stems form the structure and the amount of fees charged to consumers upfront. In the case of Credit Solutions of America, after 17 months in their program, nearly 50% of client payments would actually go toward their fees. (What a Deal huh)
Sure this information might be disclosed in the contract, but as with most of these programs, the telemarketer/salesman that talked the consumer into signing up, likely didn’t spend much time explaining this aspect of the program. Instead they tend to focus on telling the consumer how blissful their life will be once they start making payments to them. It usually isn’t until 6 months down the road, that the consumer realizes, none of the promises are coming true and most of their money has been stolen in upfront fees by the settlement company. That is typically when the complaints reach the Attorney Generals Desks.
Credit Solutions has also been sued by the Attorney Generals in Texas, New York and Missouri as well, alleging essentially the same deceptive practices of charging in full for services that they do not always perform.
The BBB Reports over 1700 consumer complaints in the last 3 years agains Credit Solutions of America and gives them an F Rating.
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