Latest Posts
Home > Ask The Get Out of Debt Experts > I Got a Letter From Americor Financial Debt Solutions Saying They Could Reduce My Debt by 50%. – Udeycme

I Got a Letter From Americor Financial Debt Solutions Saying They Could Reduce My Debt by 50%. – Udeycme

“Dear Steve,

i have about 23k in credit card debts, i am fine for now paying at least the minimum payment due and at times pay extras. I received a letter from Americorfinancial.com stating that they can reduce the debt up to 50 %. How true is this and what are the pros and cons.

Udeycme”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

Dear Udeycme,

Any debt settlement company that promises or makes you believe they can reduce your debt by a specific percentage is not telling you the entire story. The debt settlement company has NO control on the debt reduction, if any, offered by your creditor. More importantly, a statement like a 50% reduction is misleading when the debt settlement industry itself says they only settle around 10% of all debts enrolled. The failure rates for debt settlement programs offered by most upfront or advance fee debt settlement companies is pretty massive.

Looking at the web site for Americor Financial raised a number of “red Flags” for me.

  • They do not list the state they are located in or their address. – Source
  • They even say the 50% reduction is not an accurate of final amount. “Settlement estimates of 50% are examples of past performance of settled accounts and do not take into consideration our service fees or potential tax consequences.” – Source
  • Their display of current settlements is meaningless since you have no idea what their actual average is. – Source
  • Their site does not provide a comparison of the benefits bankruptcy offers you to eliminate your debt quickly and legally.

I did find a mention of the web that Americor may have sent out a letter that was about the National Debt Relief Program, there is no such program.

There was a mention that Americorp Financial was hiring and they were located in Irvine, California. – Source

The only registered company I could find in Irvine with a name that was similar was Americorp Financial, LLC at 18881 Von Karman Ave, Suite 1500, Irvine, CA 92612. The company was only just registered to do business on October 15, 2009. – Source

The BBB reports there is a company called Americor Financial at the same address but that company claims their web site is at Americorfs.com. – Source. The BBB reports the Chief Operating Officer is listed as Robert Guy. – Source

Because of their lack of information on their AmericorFinancial.com site, their claims which you related that I find dubious, apparent lack of experience in this field, and missing relevant information for you to compare options, my opinion is to give them a pass.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

Big Hug!

I Got a Letter From Americor Financial Debt Solutions Saying They Could Reduce My Debt by 50%.   Udeycme
Get Out of Debt Guy – Twitter, G+, Facebook

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

I Got a Letter From Americor Financial Debt Solutions Saying They Could Reduce My Debt by 50%. - Udeycme by

Share This and Spread the Word

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.
  • Katrina

    Short answer to question: How quickly can you run?

  • Katrina

    Short answer to question: How quickly can you run?

  • Kimberly George

    The info about this company that I recieved was out of Lewes, Deleware 19958

  • Kimberly George

    The info about this company that I recieved was out of Lewes, Deleware 19958

  • Richard Stewart

    Hi Steve, great article on Americor Financial Debt Solutions. Today, coincidentally, I received an invitation by a Notary Signing Company to become an agent for this company. I went to their website, viewed their discription of the business, and generally came away with no sence of how the business would work. I am a National Notary Association Certified Signing Agent and am always looking for additional work but this offer leaves me cold. First the pay is less than I am willing to work for plus I would have to sign an employment contract with the company. They do offer an online training course for new agents however I feel they are trying to get Notary Publics to do their introduction contacts because of the good and trusted name Notaries have earned over many years. Below is the information I received.
    http://americorfinancial.com/v
    User: afsuser
    Pass: AFSDebtElimination54
    This will show you the vidio on this offer.
    Hope this information helps in your derteminations regarding this company.
    Regards,
    Hiram32PM

  • Richard Stewart

    Hi Steve, great article on Americor Financial Debt Solutions. Today, coincidentally, I received an invitation by a Notary Signing Company to become an agent for this company. I went to their website, viewed their discription of the business, and generally came away with no sence of how the business would work. I am a National Notary Association Certified Signing Agent and am always looking for additional work but this offer leaves me cold. First the pay is less than I am willing to work for plus I would have to sign an employment contract with the company. They do offer an online training course for new agents however I feel they are trying to get Notary Publics to do their introduction contacts because of the good and trusted name Notaries have earned over many years. Below is the information I received.
    http://americorfinancial.com/vinfo/index.htm
    User: afsuser
    Pass: AFSDebtElimination54
    This will show you the vidio on this offer.
    Hope this information helps in your derteminations regarding this company.
    Regards,
    Hiram32PM

  • PATRICK MOORE

    ANY RECOMMENDATIONS ON A REPUTABLE COMPANY WHO CAN HANDLE DEBT SETTLEMENTS AND DOES THIS PROGRAM ADVERSELY AFFECT MY CREDIT?

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.