Quick Answer: Panamerican Consulting claims to be “the country’s leading and most trusted debt validation firm” and holds a BBB A+ rating, though this self-proclaimed status isn’t universally accepted. Consumers should research the company’s actual performance rates and success statistics before enrolling in their debt validation services.
Question:
Dear Steve,
Please provide background information on Panamerican Consulting. I need information on Pan American Consulting.
Every weekday I read the enforcement actions, filings and fine print the outlets skip, and turn them into the one or two moves that actually improve your position — a rate worth moving for, a fee you can refuse, a deadline to beat before it costs you.
In the latest issue (Sep 16): The truck was $28,999 online. At the desk it’s $31,400. As of yesterday, the FTC says the ad was the lie.
I write Your Money Actually most weekdays — actionable money information you will not find anywhere else, and the small decisions that compound. It is free, I sell nothing, and I take no money from any company I write about.
Johnny
The Daily Money Brief — Free, at 10 AM
Money you may be owed, scams to dodge, and the fine print decoded — the consumer money news that affects your wallet, every weekday.
Answer:
Dear Johnny,
Let me first say that my research below is based on the same process I lay out in my online 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 Counseling or Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
I always encourage people to do their research and make the best decision for themselves.
The Panamerican Consulting website at panamconsulting.com says “Panamerican Consulting is the country’s leading and most trusted debt validation firm.” I’m not sure that is a universally embraced statement. The company has a A+ rating with the BBB. – Source
I did write about Panamerican Consulting before, you should click here. The statement on that post from Ali Hajimomen, the Managing Director of Panamerican Consulting, provides additional information.
You did not provide me much to go on in your question. That is why I encourage you to do your own research.
As part of your research, you may want to look at the FTC Debt Relief Services & the Telemarketing Sales Rule.
The FTC page link can provide you with specific questions to ask the company regarding their performance or success rate. It also gives you information on how the company should calculate its numbers.
I am very confused by the Panamerican Consulting contact page. – Source
The company says it is located at 459 Broadway, New York, NY, and at 3843 South Bristol Street, Suite 308, Santa Ana, CA. Unfortunately, it looks like they just never finished updating their website.
Since you did not provide information about your specific debts, I can’t even begin to advise if a debt validation approach even begins to make sense.
So, do the homework I gave you and come back here and post a comment about what you decide to do.
I’d be very interested in learning their official success rate following the FTC guide I linked to. All I know is what they say on their site, “Clients who make all their monthly program payments pay approximately 50% of their enrolled balance over 24 to 60 months. Not all clients are able to complete our program for various reasons. Our estimates are based on our own professional experience and prior achieved results, which will vary depending on your specific circumstances. We do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time.”
Those kinds of broad statements seem to be at odds with the specific results the FTC says consumers should receive. But check with Panamerican Consulting and see if you are good with the information they give you.
Before You Sign Anything: Run any debt relief contract through the free Contract Decoder to spot hidden fees and unfair terms. Check the company’s complaint history with the Scam-O-Meter.
Compare Your Real Options: Most debt relief companies won’t tell you about all your options — especially the ones they can’t profit from. Credit counseling has a 21-27% completion rate. Settlement resolves about 1% of enrolled debts fully. Bankruptcy has a 95% discharge rate — and protects your retirement. Take the Find Your Path quiz for a recommendation based on your actual numbers.
Asked question about Panamerican Consulting.
I answered your question about Panamerican Consulting.