A kind reader sent in a postcard they received in the mail that offered some type of debt relief assistance.
You can see the backside of the postcard does not offer a lot of detail and gets right to the point.
At first glance, it is hard to tell what the sending company is all about. To me, the name Town & Country Acceptance Corporation sounds like a lender.
The BBB describes them as a credit counseling agency when it says, “This company offers debt management and educational services. The company does not make loans but rather negotiates agreements and arrangements with creditors, when necessary and appropriate to do so. They make payments to creditors, the regularity and amounts of which are based upon remittances sent by debtor clients. They charge a service fee based upon a debtor client’s ability to pay up to a maximum of 10% per year of the total amount of customer debt being handled. They also assess a one-time retainer fee based upon a debtor clients ability to pay up to a maximum of $195.00. If assessed, the retainer fee is refundable upon contract conclusion. It is important that the customer understand that Town & Country does not loan money or advance money for payments to creditors. The payments to creditors are based upon and made from remittances sent to the company by the customer. Contracts are cancelable by either party, at any time, without penalty.” – Source
I was surprised to find a company that has been around since 1981 has such a skimpy website.
A past version of their website gave much more information about their past. It said, “TCAC (Town & Country Acceptance Corporation) has been in the debt management business since 1981. In 1993 and 1994, TCAC acquired, through merger, two other debt management companies, one having been in business since 1977. The founder and current President of TCAC, Dennis Shears, has been in the debt management business since the mid 1960’s.” – Source
According to the State of Alabama, the company is not a non-profit. – Source
It’s very hard for . me to tell what exactly Town & Country Acceptance Corporation is about by looking at the scant information on the postcard and website.
If they are a for-profit debt relief company then the BBB description of advance fees could be an issue.
But like any debt relief company offering services, you should do your own homework and check them out.
I would recommend that anyone considering using such a company should read the following free guides.