I Buy Junk Mail

Can This Credit9 Mailer Lead to a Debt Settlement Sales Pitch?

Written by Steve Rhode

At first glance, the mailer a reader just sent in for Credit9 appears to be just a vanilla personal loan mailer. However, two things caught my eye. The first was the nearly unreadable disclaimers on the bottom of the Credit9.com site.

The second quick thing was when the privacy policy said, “The Americor Financial (“We” or “Credit9”)”. So is there a direct relationship with Americor or related companies where a consumer might be flipped and pitched debt relief services instead of getting a loan?

There is also this direct link between Americor, Americor Funding, and Credit9. The Americor client login uses the same California lender registration number (CA CFL 60DBO-83965) that Credit9 uses.

A recent comment on Someone Asked Me About Americor Funding Personal Loan Offer makes some statements that would make me suggest that if any consumer is pitched debt relief services after applying for a personal loan they should take a closer look at who they are dealing with. Here are some free guides to use.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
  3. How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off

This mailer was sent to me through my I Buy Junk Mail program. If you have junk mail you’d like to sell, click here. To see other mailers, click here.

Another issue that makes me furrow my brow is why does the Credit9 mailer try so hard to look like official mail?

Credit9, Inc does have an A+ rating with the BBB at the time of this post. Curiously they have a 1.5 star rating also.

I did feel like the company response to this consumer complaint on the BBB site was kind of a swing and a miss.

READ  I'm Working With Americor Financial But Getting Sued by American Express and First National Bank

The issue was not the credit card part.

Another comment adds to my wondering if the loan mailer may lead to something else. A BBB commenter got this response allegedly from the company.

“Once the full application is received and full credit is ran, a client may receive a modified offer. We certainly hope to provide clients with the mailed offer but if we can not we provide modified offers to serve as the best financial option based on findings in the full credit review. The Conditional Line of Credit is a pre-qualified offer. After your enrollment into our program, you receive instant approval for our Conditional Line of Credit, as low as 0% APR for 12 months. It becomes available to clients after they have made 12 consecutive payments into their dedicated accounts and have met other internal requirements, so they can pay off their remaining creditors. ”

If anyone receives a mailer from Credit9, contacts the company, and is pitched an alternative product instead of a straight loan, I’d be most appreciative if you could provide feedback in the comments section below.

About the author

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.


  • So got to the point were I got the documents and was like yeah, I’m going to have to read over this and get back with you. First off, they are saving me less than $100 a month. Secondly, I’m not, not going to make my monthly payments while you negotiate with my CC companies. Thirdly, why the second account? Why are you not making my payments for me? I feel like they do that so they can get reduced resettlement’s because you’ve defaulted on them after a year. I feel bad for the guy, he was very nice and personable.

  • 25% fees. (1 year 0% apr) then 3 to 5 years (depending on how much you owe) at what ever apr they decide. I am guessing 20 to 30 apr. Sample: if i owe 20,000+25%+5 years [email protected] 20% apr= BK for me. No thank you
    Best part they will not tell you about their fees until u are screwed with their loan. They pitch is 0% APR to “help me”

  • I received a mailer for this company today “Preapproving” me for $25,000 with 0% interest for first 12 months. Checked the small print on the back, says I have to show proof of $15,000 in retirement savings to qualify. GTFO

  • the differences is 35K with high interest. 20% around the settle amount is fixed. and can save 1900. if choose don’t pay Credit card companies or file bankruptcy. don’t need pay or just pay lawyer fee.

  • OK. Like many people on here it is sold initially as a consolidation then is switched to a debt relief with a RAM set up while they renegotiate your cards. This might be fine, but that’s not what it was originally billed as. I was also concerned because he didn’t give me a clear picture of what would happen to my credit cards while they “renegotiated” my debt. I also asked about what would happen if they weren’t successful or if the picture looked a bit different and again received a less than clear response. My largest concern was when he indicated that he needed my ACH information before he could send me any of the terms in writing. What in the world? While what he described sounded on surface ok (albeit a bit vague) Why would you think I was going to give you my banking information before having an opportunity to review the terms in writing? I politely said that I would like to do a bit more digging before I agreed. He pointed me to the AFCC, which fine, but he did not use the name Americor and Credit9 is not listed. This raised my hackles a bit because if I can’t find you and you don’t disclose your parent/sister company or are using them as a shield then I have some concerns. Glad I did after seeing the reviews floating around. I think I will pass.

  • I recently was employed by Americor but resigned before completing the training course due to the trainers reluctance to answer simple questions regarding the Line Of Credit. I also asked if we could have a copy of the mailers sent out so we could see what the customer was looking at when calling in. The trainer never followed through on my request. My reason for resigning was due to unethical manner in which Americor does business.

  • Absolutely a debt consolidation scam. I received the (too good to be true) offer for a pre-approved unsecured personal loan up to $80k. Against my better judgement I went ahead and contacted them to see what it was all about. The first guy told me he was going to get the “loan” to the underwriters and get back to me the next day. Never called. Two days later another person called claiming to be a loan underwriter and tells me that that have my “offer” all ready to go. He then pretends to identify with me and keeps feeding me this garbage about the reason I have debt is not my fault, it is the credit card companies. He goes on and on about how it is the interest that is killing me and how I will never be able to get out on my own. What a load of garbage. I wanted to figure out exactly what their scam was, so I humored him as he assumed that I am an uneducated moron and lied to me about how interest works. I told him about a 3 particular personal loans that I have with VERY REPUTABLE companies that I used to consolidate credit debt a while back and explained that they would all be paid off in about 3 years time. He lied and said that since they “compound interest daily” that it would actually take me over 30 years to pay them off. He said that they calculate yearly (makes no sense, no one does that….).He tried to tell me that just the interest that I would end up paying was something like double the original loan amount! (my rate is %5 btw). I don’t like being lied to and I immediately knew from that moment that this is a scam.

    Let’s examine his claim…. Assume that you have a loan of $25k @5% and to make things simpler to calculate, we are not going to make any payments for an entire year (like a student loan in deferment). Let’s look at each yearly, monthly, and daily compounding calculation methods.
    -The first (yearly) is easiest. Simply take the original $25,000 and add 5% of $25,000 to get a total of $26,250. That means interest accrued in the first year is $1,250.
    -For monthly the calculation is NewBalance = PreviousBalance + (PreviousBalance * Rate / 12). We repeat this 12 times (a spreadsheet is helpful here) and we find that after 1 year the total balance is $26,279 That means accrued interest is $1,279 ($29 more than yearly for a $25k loan).
    -For daily the process is the same only we divide by 365 : NewBalance = PreviousBalance + (PreviousBalance * Rate / 365) and repeat this 365 times for a 1 year total of $26,282 meaning accrued interest of $1,282. (Only $3 more than monthly or $32 more than yearly.
    If you actually make reasonable monthly payments, these figures all go down DRAMATICALLY…

    This is a far cry from “You will end up paying over $49k in interest for that loan over the next 30 years!”. Yes, he actually said that. I still wanted to figure out his game….. Here it is: They want you to stop paying all of your creditors for a full year and make large payments into an “escrow” account. At that time “your loan is funded 100% and we pay off your creditors for you. We give you a loan for the total amount and you simply pay us the low rate of %24, but since we don’t compound daily, this will save you 10s of thousands of dollars….” !!!!!!! Are you kidding me?!?!?!? Wow!!! I truly hope that no one is foolish enough to get roped into this…

  • I’m glad I decided to do a little Internet search on credit nine because I got the same check looking “offer” in the mail today. After reading this I tore that shit right up. Thank you. Any predators always swear they’re here to help, but they’re not.

  • Hi Steve. I got this mailer as well. Mine looked just like your final picture but with a different “Pre-approved” amount. I called and looked into it as it would help my situation but it is not like the mailer describes. They have a rep reach out to you and gather information from you including: Date of birth, last 4 of SSI, income, occupation, duration of occupation, total debt amount, credit card debt, interest rates of each account, and payment amounts on credit cards. After that they call you the next day with information from their underwriters regarding your “approval”. Now I am using quotes because he makes it sound as if you are approved for a loan like the mailer states but this is not the case. It is actually what the rep called a “Conditional Line of Credit” which is involved in a 2 step Debt Relief Line of Credit Process. The 2 step process is 1. Restructure your current accounts and negotiate terms. What this means is they tell you exactly which accounts of yours they will be reaching out on and that they will be working with these banks/credit unions/creditors in order to negotiate your debt and repay them. Essentially what they are doing is paying the creditors on terms the Americor company and your creditors come to agreement on and you the debtor will pay a fixed payment amount to a trust set up by Americor. This payment is meant to be less than your debt payments as to help you out and have so leftover funds to help pay down debts or save to savings. Also the reason it is called “Conditional” is due to the conditions they put forth that you must follow or they have the right to undo the process, charge you a higher rate, or even raise your payment. Conditions include, no additional debt brought on in 12 months, all payments set by the company paid on time and in full for the first 12 months, and a few other specifics

    Where the situation gets a bit “sketchy” and odd is he mentioned that this “negotiation” process can take up to 4-7 months. He says to not make any payments to these accounts during this time and that most likely the creditors will be reaching out to me due to missed payments. This concerns me as this would severely hurt my credit. His point to this was that yes my credit would suffer in the short term from missing payments but that once the debts are paid by them, my credit should rise a bit. After you make the 12 payments and now that you have been in less debt for 12 months again your credit should rise allowing them to give you a better rate for step two which I will explain in a moment. He also mentioned that yes my credit will dip down but that my score does not matter right now as a credit score only matters when you are acquiring new debt but that is not the goal. The goal is to pay down debt and consolidate debt so my score at this point in time does not matter.

    Step 2 of the process is after your first 12 months goes by there will be a remaining balance of your debt in which the company has paid off for you. The company will issue you a loan for the remaining balance in which terms and interest rates on that loan will be discussed at that point. Again another odd/sketchy scenario as you’ve been locked into this contract by this company and in a year’s time you are essentially at mercy to whichever options they provide for you. The whole situation/phone call was odd and I don’t think it is for me and I am going to pass on it, but wanted to comment my experience as to help anyone else make a educated decision for their situation.

  • They are a lead generating company. Also i called the number twice. 1st answer AMERICORPS FINANCIAL. 2ND time Freedom Debt Relief.l

    I was given a call back number of
    909 304 1944. Its a dead number.

  • Your credit union would be the best place to get a loan to pay off credit cards and make a monthly payment with a much lower interest rate. I am the president of one. I got the Credit9 letter also so, I went online and found your comments. I had planned to take this to a board meeting but now, I know it is something different and will not bother. 5.99% is lower than our 7.5% so that is what I was looking at. Thanks for sharing.

  • I just got the same and talked with them. Basically you stop paying the debts and go delinquent and they “negotiate for you” to settle out the accounts while you accrue money in an escrow account for them to use in negotiations. Then, at the end, you pay another 32 months of the same payment. Calculating it out, it saves maybe 5% of the overall balance but with a settlement penalty I’m sure and tax impacts and judging by how settlements can be worked, it sounds like they’d take a good chunk for their effort… I don’t think I’ll do it, it’s too… tricky? in my book. I’d rather either negotiate directly with the creditor or just concentrate on allocating payments to eliminate accounts better. This definitely isn’t a straight up personal loan to consolidate and close out.

  • I got a mailer from them back in December – and thought it was too good to be true. I finally called them today and got “Summer” on the phone and I told her I felt the offer was too good to be true but I wanted to hear more about it. She made out like everything was legit – “this phone call is being recorded for security purposes”. Then she said she could not pull me up based on the number I was calling from and could she call me back from another number. the number is 949-304-2037. She calls me back and said her computer was rebooted and proceeded to as me for basic information (job, salary, how much debt i thought i might have, average interest rate, etc) – btw I told her I was a banker. then she asked me for my social security number – i do NOT like to give that over the phone – so I asked her if there was a way to complete the application on line so she said she would text me a link to finish the application online. I got the text and when I tried the link i got an error message. So then I went on the main page (which was Americor by the way) and filled out basic information there and it just asked me if I wanted someone to call me. I called “Summer” back at the 949 number and let her know that the link didn’t work and then I called the 949 number which went straight to voicemail but then “Summer” text me back and said she was on another call and that she would call me back later. 3 hours later I heard nothing from her. So I text her that I was going to call the main number back and work with someone else. I dialed the original 1-800 number on the offer and got the same voicemail message as I did when I texted the 949 number and I immediately get suspicious – sure enough she text me right after I hung up and said she wasn’t at her desk and would call me back. So I call the 1-800 number from a different number and this guy answers who sounds like he’s hanging in his living room watching ESPN. I tell him i was originally working with Summer and I told him how I called the 1-800 number from my cell and got the same answering machine as when I called the 949 number. He said “yes” your number is locked in as a client of hers so it will go directly to her line – and he said he sent her a message and said to call me right away. It is now after 9pm (or 6pm CA time) and I’ve yet to hear back from “Summer”. I believe it is scam. And if you ask any questions or seem hesitant, they wont pursue you.

  • I got the mailer and called these clowns. Seemed friendly at first, but the red flag was when I told them my profession was active duty military, they asked if I had a security clearance and what it was. That is a BIG NO NO from any non-government organization. I asked him why he needed that info and he said it’s standard. I explained that’s shouldn’t be standard and that I would have to call back and he said ” ok we thank you for considering Credit9.” So even when I said I’d call back, he took that as I was ending any type of business with the company (he was right), which tells me they get that a lot and move onto the next potential client. VERY fishy from all angles.

  • Very misleading, they sell this as a consolidation loan and they insist on you closing your other lines of credit which ultimately can NEGATIVELY effect your credit score but the bottom line is this is a debt relief program with an option for a loan at 24% after 12 months.

  • I find this company very disturbing and on I am on the verge of an inquiry with the attorney general in California. I found the 12 month at 0 interest very intriguing but never got a call back and really very limited information regarding the programs. i don’t need a debt consolidation and i do not need settlements. But, a 12 month interest free loan was intriguing . never got a call back and stupid me – i gave them my SS#. i am going to do further investigation and make reference to the state department.

  • They said that I’ll have to close my accounts and they will give me a loan to cover the negotiated balance.

  • I just received one of those letters. Received a call ..and sure enough.. its a debt relief program… didn’t sound like a horrible idea. but it sure is misleading what they are doing from the mailer. they are also aren’t up front with the information about you missing the payments to negotiate a smaller payout for your debt Relief. They want u to close your accounts once paid off. Your score goes down from missing the payments… this should be your last reserve if u feel like u can’t get out of it.

      • We received one of their letters and gave them a call. A very snotty sounding agent answered the phone, quickly said his name, and asked to verify my SSN. I never entered the SSN and was not about to give it to the agent because this sounded fishy. He said enter it on the website and call back. He then hung up. My wife and I’s opinion is be very weary.

  • I currently work with a loan company, because of compliance issues employees can’t have a loan with the company. With that being said I got a preapproved offer from Credit9 after reading it over several times not seeing any red flags I applied. MISTAKE!!! I got a weird feeling right away talking to the first person and even asked if it was debt relief, he said no, it’s a consolidation loan. After he called me back to discuss terms he got to the real deal. It most certainly is debt relief, you pay X amount for 7 months while they negotiate better terms on your credit cards the money is put into an account with RAM ding ding ding….HELL NO I told him stop right there this is not what I want forget this and hung up on him

  • My wife received one of these invites via mail today and called to inquire. The smooth talking lady said she’d be happy to help her reduce her payments. After asking my wife a few preliminary questions, she asked to run a soft credit check and proceeded to ask my wife for b-day & social. My wife was a bit apprehensive, but gave into the reps request. The rep said she’d call her back within 20 minutes. It was during this wait time that I discovered this thread and boy I tell you, I wish I would have read this thread before calling Credit9. After about 20 minutes, the rep called back, and went through the process of having my wife repeat her social and bday. She then proceeded to go over my wife’s credit profile, including account balances and so forth. Then, she was very smooth to say how they would go ahead and “re-negotiate” the payments to lower her monthly installments. By then, I knew they were full of shit and told my wife to cut them short! Based on this call, Credit9 used the mailer as a bait and switch to get unsuspecting people to renegotiate terms with their creditors. We were interested in a debt consolidation loan, not a negotiation of credit terms. Be aware of this company and their deceptive practices!

  • Wow, Credit9 or whoever they are must have sent out a mass campaign just before the holidays to try to capitalize on people that already struggle paycheck to paycheck, I’m glad I checked out “Get out of debt Guy” so I didn’t risk giving out my Social Security number like others have, It seems the best thing to remember when you receive these mailers, “if it sounds too good to be true, it isn’t true”.

  • I received the pre-approved, mailer that looks like a check. I went to the website and when I enter the code it did not work. Then I went to apply for a loan. When I spoke to the person on the phone, whose name was Arey Estrada. He asked me several questions, and had me agreed to a soft credit pull. Once he realize that one of the accounts I wanted to consolidate was Navy Federal Credit Union, he said he may not be able to work with me. Then he put me on hold to double-check. And then he came back and said it was against the law for him to work with a Federal Credit Union. I told him, I don’t understand if I’m trying to get a consolidation loan. He spoke fast and kept saying he was not able to work with me because it’s against the law. Then he quickly ended the call. Now I’m concerned about the fact that I gave my social security number. I know that was a dumb move. Should I freeze my credit?

  • Wow! The exact same thing just happened to me. I received a pre-approval letter for $50K. The letter has a bogus reservation code that does not work on the website, which forces you to call and have the person give you a debt consolidation sales pitch instead. It’s amazing that they can get away with this bait and switch!

  • received a mailer preapproved for $42,000 consolidation loan. Called and spoke with agent. First thing, loan was conditional on 2 step process.. She talked fast and smooth about how they were going to help me get out of debt. After asking several times she admitted they would negotiate with my creditors about the debt and then approve on the settled amount. I was not interested in debt negotiation. They mislead you.

  • My husband received one in the mail. Looks legit, sounds legit, but wait……the approval code value seems to be invalid??? The approval code is an A followed by 8-9 digits it says, but this one is 2 letters and then the digits. So, have to start from scratch and input info. Why would a company send a bogus approval/reservation code….??? Scammers!!! No company would!!!

  • Hi,
    I am currently holding a mailer that is almost identical to the one in the photo. Mine lists a call or go online to Americorfunding.com so they are aa part of them. Second I have received preapproved mailers before and when you are truly preapproved the part that looks like a check is actually a check and can be deposited in your account.

  • I just got a credit 9 mailer the other day. Called and was told I do NOT qualify for a loan but I do for qualify for a debt restructure loan and when I got the email explaining how it worked it had Americor stuff listed all over in it.

  • Hi, pretty much same story. Situation is similar. I asked about the tax consequence and was pitch that because i have not assets such as a house that I would be able to use form 982 c thru insolvency. They make is seem so easy to get good credit back again in 2 years. The skeptic in me thinks that its too easy for them to say.

  • hi, I received the same thing too. They need to put down more clear instead of tricking the customer for pre-approved and it not a personal loan. When you read the fine print is small in 7 points size you need a thick glasses to read it.
    Again this is NOT a personal loan, it same as a debt relief program. in the fine print it says “we do not guaranteed that you will ultimately be approve for any type of loan.” Then they know better than trick you with CONGRADULATIONS! You have been pre-approved for $37,741 Personal Loan.”

  • Just got contacted by Credit9. Seemed legit. I have 35k in CC debt at about $900/mo pmt. Their pitch was they would negotiate a settlement and we would pay Americor $700/mo for 12 months. If we didnt screw up any of their terms, at the end of the 12, they would issue us a Americor loan and pay off the CC debts. We would then have a $650 pmt for 38 months and be done. The 12 month term would hit our credit score because we are negotiating a lower settlement with the CC companies, but Credit9 says that goes away quickly (not 7 years) because you pay the negotiated rate off in full at the end of 12 months. I’m not sure that is accurate. They say ‘paying the settled amount to 0 is not the same thing as the settlement that follows your credit score for 7 years’. Not sure.

    • If your numbers are correct you will be paying $33,100 ($8,400+$24,700) in monthly payments to resolve $35,000 in credit card debt, have a delinquent credit history, and up to seven years of reporting the delinquent history. The plan you laid out seems like it will take 50 months (12+38) and the forgiven debt may be taxable and you may face being sued.

      If that’s the path you want to follow, then great. It sounds like they explained the program in a way that seems like a good idea for you in your specific situation. Just compare that against filing a Chapter 7 bankruptcy for $1,900, discharging your credit card debt in 3 months with legal protection and no tax consequence.

      My hope is always that people research all their options and are completely confident the approach they select is best for them.

    • Hi, I am in a similar situation that sounded and an affordable way to get rid off my debt. Did you prices with the program? I would love to hear feedback if you did

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