A reader sent in a mailer they received from a company named Debthunch. It is always a good idea to check out any company that you are not familiar with to make sure you know who you might be giving over personal information to if you contact them about the advertising offer.
The reader received the envelope below which did not identify the company on the outside.
The inside of the offer said the consumer was preapproved for a “debt consolidation” that also promised a “balance reduction.”
The information shown on the front page of the mailer certainly lead you to believe this is some sort of debt settlement type offer.
The back of the advertisement says if the consumer visits Debthunch online they will “Get matched with the smartest debt consolidation for you.”
I find that very hard to believe especially when “debt consolidation” is so poorly defined. If it’s debt settlement then why not just say that. Saying it is “debt consolidation” could give the impression the offer is for a loan.
The fine print on the back of the offer provides not a whole lot of additional information that provides clarity.
The terms could confuse a consumer this is for a loan especially when it say “You received this offer because you met certain credit criteria for creditworthiness.”
I would recommend that anyone considering using such a company should read the following free guides.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
To get more clarity I went to the listed website, debthunch.com.
The site leads off with “The smartest way to pay off your debt” but is it really?
They also show the following testimonial.
The testimonial says the consumer “started using Debt hunch services 1.5 years ago.” However, the Debhunch website has a BBB logo which takes you to a listing for a company named InboundProspect. The BBB says the company operates under the alternate business names Loanhunch, Debthunch, and Listinghunch. It also says the company has been in business since 2003 and the CEO is Scott Couto. The State of California does not have a business listing for a company named Debhunch so they probably are, as they say, operating under the assumed name of Debthunch.
InboundProspect says they are a pay for performance direct mail lead generation company.
They describe themselves by saying, “InboundProspect pioneered Pay For Performance direct mail marketing lead generation for the financial services industry well over a decade ago. We put our money where our mouth is by shouldering the marketing performance and financial risk for our clients as a true, world class marketing partner should. We accomplish this by providing our clients with pre-qualified, direct mail generated inbound live transfer leads on either a Cost Per Acquisition, Cost Per Call or Cost Per Lead basis.”
They also go on to talk about their ability to generate debt settlement leads. They say, “You’ve finally found a reliable, world class Debt Relief Leads marketing partner in InboundProspect who can consistently provide some of the highest converting direct mail generated Debt Relief Leads and Debt Consolidation Leads on a Pay Per Lead basis for your agents at consistent live transfer lead volumes day in and day out. Our Debt Leads are generated via direct mail and result in pre-qualified live transfers directly to your sales agents with a simultaneous real time API post.”
Debthunch appears to actually be a lead generation company that sends inbound leads to companies who attempt to make a “debt consolidation” sale. That’s why I’m confused about how a consumer could use Debthunch or InboundProspect services for 1.5 years. That’s a long time on hold.
If you receive a mailer like this just realize this is an advertising piece and exercise the same level of care that you would with any company before you give up personal information.