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American Credit Group Review

This review is the result of a question from a reader asking me about American Credit Group.

Address:

Address was not easy to fin on the site. Somewhat buried. Yellow flag.

American Credit Group, LLC.
9915 Mira Mesa Blvd., Ste. 120
San Diego, CA 92131

Website:

AmericanCreditGroup.com. Domain registered on October 3, 2007. Registered by [email protected], 8340 Vickers St, suite A, San Diego, CA 92111

Description:

Appears to be a credit repair/debt settlement company.

Management

Unknown. Not able to find. Red flag.

Company Background

American Credit Group was registered in California on October 17, 2007. The registered agent is Christopher W Steward.

American Credit Group Review

Contacts

Customer Support/Sales
866.939.9990 Office – Source
866.959.9990 Fax – Source

Email Address:
Customer Support: [email protected]Source
Sales: [email protected]Source
Billing Dept: [email protected]Source

Relationships

Since I can’t identify the management of the company I cannot locate any relationships, if any.

Interesting Points

I did get a chuckle out of one site that listed American Credit Group as a house cleaning business. – Source

I did think ACG did a good job of making it clear that accurate and bad information on a credit report could not be removed. Good for them.

IMPORTANT – Avoid companies that claim they can remove accurate/verified listings or organizations that offer new credit identities or fradulant trade lines.

After reviewing their site, in my opinion, a couple of issues bugged me.

  1. Can’t easily identify who owns and runs this company.
  2. American Credit Group, LLC was registered in 2007 but company says it has 16+ years experience. – Source

The company did a good job on their FAQ page of explaining the tax implications and lawsuit possibilities while in a debt settlement program. They could have also mentioned that they have no authority to stop original creditor collection calls.

Our fee for settlement services is 7.5%. It is one of the most ethical and affordable pricing models in the industry. Most competitors charge 15%, with a significant portion of their fees taken prior to any debt being settled. With American Credit Group, 92.5% of every dollar you spend will go toward you debt, not ACG. – – Source

Their fee schedule above is actually very good compared to a lot of debt settlement companies.

BBB Reviews & Ratings

American Credit Group Review

Source on the day I wrote this review.

American Credit Group Review

Complaints

None found.

Picture of Web Site

[flashvideo file=/wp-content/uploads/acg.flv /] Video of Flash from Web Site
American Credit Group Review

ACG archive.

Is This Your Company?

If this is a review is about your company and you would like to respond to the information I’ve presented here to possibly put it into a broader context or make a correction, please feel free to post your response in the comments section below. I invite you to read my Debt Relief Company and Site Review Policy first.

American Credit Group Review by

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • ACGScam

    From the Better Business Bureau Web Site -

    Original Business Start Date: 10/17/2007
    Type of Entity: Limited Liability Company (LLC)
    Incorporated: 2007 in CA
    Principal: Owner/ Manager, Owner
    Number of Employees : 1

    BBB Accreditation: This business is not a BBB Accredited Business

  • ACGScam

    From the Better Business Bureau Web Site -

    Original Business Start Date: 10/17/2007
    Type of Entity: Limited Liability Company (LLC)
    Incorporated: 2007 in CA
    Principal: Owner/ Manager, Owner
    Number of Employees : 1

    BBB Accreditation: This business is not a BBB Accredited Business

  • ACGScam

    The self-described “senior partner” was previously in the commercial dirt moving business as Earth Source or some such after he and he left his father’s successful dirt moving business. According to one source, he left contract truckers high and dry to the tune of $250,000 which explains why his name is not readily apparent. How the company claims 17 years in credit restoration is beyond imagination. As noted in the review on this web site, American Credit Group LLC was formed in 2007.

  • ACGScam

    The self-described “senior partner” was previously in the commercial dirt moving business as Earth Source or some such after he and he left his father’s successful dirt moving business. According to one source, he left contract truckers high and dry to the tune of $250,000 which explains why his name is not readily apparent. How the company claims 17 years in credit restoration is beyond imagination. As noted in the review on this web site, American Credit Group LLC was formed in 2007.

  • Dave

    Debt settlement is only a part of what they do. They also will clean off bad information on your credit report and help you get started in rebuilding your credit. It is not a quick turnaround process it will take time.

  • Dave

    Guess I didn’t answer your question with my post so here it is. The reason for the email is because all the letters dispute letters go out in your name with your current address, that is a necessity so you will get all the return replays, that you need to forward back to ACG, so they can continue on with the next step.

  • Dave

    Kisha

    American Credit Group will work with you. As in my case I have Sallie may who is not holding up to there end of the agreement. I have told ACG not to worry about Sallie May I will handle that one and they don’t touch it. If you have an agreement with one creditor then just let ACG know that it is already worked out and they will leave it alone.

  • Dave

    There was a misunderstanding with my address. I didn’t hear anything from creditor for 5 months. I checked my credit score though at the 5 months and I saw that it went up almost 150 points. I had called them to let them know how pleased I was with this. It was at that time that we found the mistake with the address. after this I have been working more closely with them to clean up some of the remaining stuff and put together a strategy to keep me on track. Jessica has been there every step of the way, with planning and suggestion. I can’t thank them enough. I know that there is still a long road ahead but I got off to a great start.

  • Dewaani1

    Thier charging me 10% of what i owe not the settlement amount. If i owe 10K and the creditor settle with 5K i still pay 10% of 10K not 5K. Does it sound reasonable? They did disclose thier fees in agreement, however, since i spoke with the specialist and after submitting my agreement, i havent heard back from them so am just wondering what is going on.

  • Dewaani1

    Thier charging me 10% of what i owe not the settlement amount. If i owe 10K and the creditor settle with 5K i still pay 10% of 10K not 5K. Does it sound reasonable? They did disclose thier fees in agreement, however, since i spoke with the specialist and after submitting my agreement, i havent heard back from them so am just wondering what is going on.

    • Dave

      Kisha

      American Credit Group will work with you. As in my case I have Sallie may who is not holding up to there end of the agreement. I have told ACG not to worry about Sallie May I will handle that one and they don’t touch it. If you have an agreement with one creditor then just let ACG know that it is already worked out and they will leave it alone.

  • Dave Sherer

    Please look at my Update 2, third post down, for the latest update. I don’t know why I had so much trouble getting it posted. if anyone has questions please email me. I will be more than happy to share my experience along with my past credit history. Trust me with a score of 464 you know it was bad.

  • Pam

    I am seriously considering American Credit Group as well. Please keep me posted, and I will keep it in prayer as well. Thanks!

  • Larry

    I’m considering debt settlement also. Please keep us posted. Thanks

    • Dave

      Debt settlement is only a part of what they do. They also will clean off bad information on your credit report and help you get started in rebuilding your credit. It is not a quick turnaround process it will take time.

  • Larry

    I’m considering debt settlement also. Please keep us posted. Thanks

  • David C

    After extensive research and several phone calls to the company, I just signed up with American Credit Group. I ‘ll keep everyone in the loop as my progress continues. My wife and I are good people that always pay our bills on time, but due to her job loss, illness and my income being cut we have no other choice to go this route. Bad things happen to good people and we just want to cut this debt cancer and be free in 3-4 years. I’ll worry about fixing my credit once the debt is free which is first priority. Wish us luck and say your prayers. DC

  • Dan

    I also hired American credit group recently. I was billed for the initial fee and the first month fee few days after that (as stated in their contract). Also, They have sent the Validation letters to the creditors and i am still waiting

  • Brad

    I’m considering a debt settlement program and have currently found American Credit Group to be one of the cheapest throughout my research. I have heard before that cheap isn’t always good, but if Dave is getting good results, I may consider this company. Not sure why they are lying about years of experience. Maybe the owner has 16 yrs. of experience and not the company itself. Not sure why BBB gives it a D- but no complaints is always good in my book. Looking forward to your posts, Dave. Thanks.

    • Dave Sherer

      Years of experience is collective. Lot of businesses do that. So for example where I work we get our management team together and add all the years together that each person has been doing their particular role, with that company or any other one. so 10 people at ten years each is 100 years experience even if the company has been around for 5 years

  • Dave Sherer

    UPDATE 2

    Ok so they have sent out X challenge letters and X Validation of Debt letters. I have not received anything from any of the reporting bureau’s. So they are taking the next step in challenging the bureau’s directly. So it seems as if thing are going forward. to early to tell yet on any significant progress, but I am feeling confident.

    • Suzanne

      Any progress since May 3? I’m considering signing up and would like to hear your thoughts. Thanks!

      • Dave Sherer

        yes but I can’t get it to upload

      • Dave Sherer

        NEW UPDATE!!

        I know it has been a while since an update, but here it is.
        It was off to a rocky start since I was being told that I should be getting a ton of emails from the companies, Equifax, Transunion and so forth. I received nothing. After talking to them on the phone today we have determined that the address was wrong that they had and I did confirm the address they had, bad on me. Any ways they have been doing the work and it has been paying off.

        When I started this my FICO score was 464 as of today it is 609. this is a great move for 5 months of work. I am very pleased and happy with the results I have seen and I would recommend them to people who are in the same boat.

      • Heidi

        I am currentely working with American Credit Group. I am wondering what is the reason for the emails, I haven’t heard anything about this. I also was wondering how long it took them to contact you about the first creditor to be paid?

      • Dave

        There was a misunderstanding with my address. I didn’t hear anything from creditor for 5 months. I checked my credit score though at the 5 months and I saw that it went up almost 150 points. I had called them to let them know how pleased I was with this. It was at that time that we found the mistake with the address. after this I have been working more closely with them to clean up some of the remaining stuff and put together a strategy to keep me on track. Jessica has been there every step of the way, with planning and suggestion. I can’t thank them enough. I know that there is still a long road ahead but I got off to a great start.

      • Dave

        Guess I didn’t answer your question with my post so here it is. The reason for the email is because all the letters dispute letters go out in your name with your current address, that is a necessity so you will get all the return replays, that you need to forward back to ACG, so they can continue on with the next step.

      • Kisha

        I am almost about to sign up with American Credit Group. I got thier agreement; however, still skeptical abt if i should take this route. Am afraid what if thier able to deliver wat they said? I already negoited the lower interest rate with the creditors. If i go for debt settlement that means i be skipping payments which could raise my interest rate. Plz advice if the company is worth puting ur life in risk.

      • http://GetOutOfDebt.org Steve Rhode

        Kisha,

        I don’t know about “putting your life at risk” but it might be smart to wait till after October 27, 2010 when it will be illegal for a debt settlement company to charge you fees before actually settling the debt.

        As of September 27, 2010 companies are not able to make false promises and most provide you with a good faith estimate. See this for details.

        Steve

  • Dave Sherer

    UPDATE 1

    So I called about the charges and they took the time to explain them fully to me. I full confident in what they had explained. I also logged into my account after the phone call and noticed that it was updated with my latest phone call with the concerns of my monthly billing. They had also explained the process to me again of what to expect and what I need to do. So I will be keeping an eye out for letters from the big three. Will update again when the process moves further along.

  • Dave Sherer

    I have just recently started to use this company. I have been billed three times in one month. I know the first bill is the down payment to get started. I will be calling to verify why I was billed the twice in one month. I will post back and let you know. I will keep this updated with my experiences with this company also. Call me the “Guinea Pig”

    • http://GetOutOfDebt.org Steve Rhode

      You’re the Guinea Pig.

      Steve

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