Accelerated Debt Consolidation, Inc. Review

This review is the result of a press release that I saw that said “Beware, many of the firms advertising Debt Settlement services are not legitimate and will destroy consumers credit.” The press release was issued by Accelerated Debt Consolidation, Inc.


7100 W Camino Real
Ste 203
Boca Raton, FL 33433

Domain name is owned by:
David Bridges
42048 Fairview
Canton, MI 48187

Argus Development is now Sports Data, Inc. – Source


Accelerated Debt Consolidation is a full service Credit Counseling and Debt Management firm. – Source

Accelerated specializes in reducing interest rates for consumers that must maintain their credit rating. – Source


Accelerated Debt Consolidation was incorporated by Neil Young and James Young on January 26, 2001 in Florida.

Jim Young – CEO
James H Young

Neil Young – No longer listed as an officer with the company as of 2010. – Source


[email protected]


Accelerated Debt Consolidation Relationships
Click on image for larger view.

Accelerated Trust Enterprises, Inc.
Accelerated Trust, Inc.

Interesting Points

The company makes the statement “Our firm also owns and operates a 501-C3 non-profit corporation called Accelerated Trust, Inc. that we must have in order to submit proposals and payments to those creditors that will only deal with non-profit credit counselors.” – Source. But in fact Accelerated Trust, Inc. lost it’s non-profit status in 2008 and I could find no public 990 non-profit tax return filed for that company since 2006.

Accelerated Trust 990 Resturn History

They even say “It is also important to be aware that many very large non-profit firms that are not legitimate exist. Many of these firms advertise nationally on television and the internet. They use their 501-C3 non-profit status to lead consumers to believe that they are some kind of public service. It is these so called “non-profit” firms that should be avoided. Many consumers and even credit advisors make the mistake of assuming that a non-profit firm is automatically legitimate, nothing could be further from the truth.” Unless I’m reading this wrong that is essentially what they are doing themselves. They claim to own and operate a non-profit company but according to all public records, they don’t.

I find it odd that the primary domain for this company is listed as being owned by a sports data company.

The company makes the claim that “Debt Help is available without ruining your credit.” – Source. But in fact the enrollment of any credit card accounts in a credit counseling or debt management program will impact your credit. Those cards included will be closed and the credit history will no longer move forward and contribute to the calculation of a current credit score using open accounts.

They also make the statement “If a consumer is in a position where they just can’t pay their credit card debts or other unsecured debt obligations, bankruptcy is rarely the proper choice.” – Source. I would have to say that is not a statement that reflects the greater reality I see. Bankruptcy is in fact the only legal solution any consumer has in the face of debts they can’t pay to avoid lawsuits, end collection activity and to get a fresh start.

On the same page is a stunning statement, “A consumer that is unable to pay their unsecured debt is much better off to let the accounts “charge off” and show as R-9’s on their credit report until such time that they can make arrangements to satisfy the obligations. When the time came in the future to handle the accounts, Accelerated Debt Consolidation could then refer you to a company that we have been working with for years that can help you get negative credit history corrected.” – Source. I would be hard pressed to read that as anything other than a “pay to delete” credit repair approach which violates the Credit Repair Organizations Act.

BBB Reviews & Ratings

BBB review at the time this article was written.


None found.

Picture of Web Site

Accelerated Debt Consolidation - home

Is This Your Company?

If this is a review is about your company and you would like to respond to the information I’ve presented here to possibly put it into a broader context or make a correction, please feel free to post your response in the comments section below. I invite you to read my Debt Relief Company and Site Review Policy first.

Steve Rhode

24 thoughts on “Accelerated Debt Consolidation, Inc. Review”

  1. Steve,

    I guess it all hinges on “interpretation” however what I know is that for the last 10 years my clients have ended up with great credit scores even before completing the program. We just brought in a new client yesterday that has the usual lines of credit which include mortgage, cars and about 14 credit card accounts. We took on 8 of the 14 cards and he’s keeping the other 6. I thought that this one will be a good one to watch over the next year. We will see what impact the initial closing of the 8 accounts will have and then watch over the next 6 months to a year how his credit score changes. I think this one is a perfect one to gauge what we are talking about here. And the fact still remains that the types of clients I get that have enormous amounts of current accounts at rates of 29.9% and even higher are better off to pay them off over approximately 4.5 years and take a TEMPORARY drop in credit score than continue on at these insanely high rates on their own for who knows how long and pay many thousands of dollars in interest charges. If when it’s done like the 2 examples I used before with credit scores of 801 and 789 they have in fact gotten out of debt much faster through a debt management program AND maintained their credit.

    • Jim,

      So do you have a control client to compare that person to? If you don’t whatever results you get would be meaningless unless you could compare it to an exact copy of that person that either did not close any accounts or in my example, went bankrupt and spent the same amount of time rebuilding their scores. Outside of that any claim you will make will only be based on one individual and not on an entire class of people.

      “An experiment which uses controls is called a controlled experiment, and usually separates research subjects into two groups: A treatment group and a control group. The control group is practically identical to the treatment group, except for the single variable of interest whose effect is being tested, which is only applied to the treatment group. Controls are needed to eliminate alternate explanations of experimental results. – Source

      By the way, do you have any response to Mike Killian’s comment he posted or are you just ignoring it? You said “I will have Mike Killian contact you to detail how I do things…” and his comment seems to really distance himself from you.

      My opinion, you need to back way off claims you are making about credit scores and ruining credit until you can verify, in some controlled way, that the statements are factual.

      And all that screaming you were doing at me about “GET YOUR FACTS STRAIGHT”, I’d be happy to accept your apology for your insinuation that I did not have my facts straight. Everything you disagreed with was proven to be true.


  2. Steve,

    I checked with Jacqueline at One Plus One Systems and she basically said the same thing. In essence the debt management client may experience a drop in credit score initially due to the closing of the accounts. However if they continue with the DMP and most importantly COMPLETE it in the end the score will rise by paying off the balances. This is why our clients end up with high scores upon completion and even after 3 years or so. I made reference to my personal friend before that is a client of mine and he has a score of 801 and he is not even finished with the program yet. I also mentioned another client that wrote a review on our BBB report that has a score of 789 and she has not completed the program yet but has been with us for a few years and has paid off a large amount of the debt. The bottom line is that if you are in a position like the types of clients we get here where you owe $100,000 to sometimes $250,000 and it is spread out over let’s say 8 to 10 accounts and they are all at 29.9% or sometimes even worse with Citibank for example that goes up to 32.24%, a temporary drop in credit score is really not as important as getting them paid off over approximately 4.5 years. We get 9.9% for Citibank accounts, 6% for Chase and nowadays Bank of America accounts come back accepted at between 1% and 4% they are really good now. So when it is all said and done by utilizing the Debt Management program in the end the consumer will end up with their score just fine. Here is what Jacquelyn said about the issue below.

    Quote From Jacquelyn

    Credit Scores and what affects them:

    In the past consumer credit counseling companies and/or debt management companies negatively impacted a credit score. However that has changed and they no longer impact your score in a derogatory manner. This of course is assuming that the debt management company you choose handles accounts correctly by getting proposals accepted in timely fashion, addresses due date change issues if necessary and gets payments out to your creditors on time. When you enter into a LEGITIMATE debt management program the ultimate advantage is that the creditors are paid off quicker.

    Four trade lines need to be on your credit report to obtain a worthy credit score. The longer they are open the better your credit score will be. A trade line can be that of a car, mortgage, credit line, credit cards etc. When you close out your credit cards it can reduce your credit score temporarily. The reason for this is once a line of credit is closed it is no longer added into the “credit score simulator” as a line of credit. However the balances on them are. When the balances are reduced this will automatically raise your score under the debt ratio section of the “brain” so to speak of the credit score simulator. Accounts with large balances close to their limits have an automatic negative impact on your credit score and would be listed as one of the 4 reasons your credit score is what it is.

    Paying off the balances over a shorter period of time through the drastically reduced interest rates obtained through a debt management program will ultimately raise your credit score back up again.”

    • Jim,

      So I think our two experts have confirmed that entering a credit counseling program, due to the closing of accounts, can reduce a credit score. I think this discussion began in earnest with your statement “if they close the accounts first but the entry of credit counseling or DMP does not drop the score.”

      As far as the mechanics of the score drop, while I appreciate Jacquelyn’s response, I’m going to stick with the official statement from the very people that calculate the leading credit score, FICO.

      If your claim is that by the end of a debt management program someone can have great credit again, the same thing is true for someone that goes bankrupt. In a Chapter 7 bankruptcy, using simple credit rebuilding techniques of obtaining several secured cards, not carrying big balances and paying them on time will result in a great score as well in the same time period it typically takes to repay a DMP. In fact, there are many cases when someone is in financial trouble to begin with and they file bankruptcy and their score immediately goes up by as much as 150 points. – Source

      I believe my initial point was the statement on the front page of your site, “DEBT HELP is available WITHOUT ruining your credit” is not an accurate statement and left me perplexed.

      The company makes the claim that “Debt Help is available without ruining your credit.” – Source. But in fact the enrollment of any credit card accounts in a credit counseling or debt management program will impact your credit. Those cards included will be closed and the credit history will no longer move forward and contribute to the calculation of a current credit score using open accounts.

      In fact your own expert agrees that a drop in credit score will occur. Of course this all leaves the public to figure out what you really mean by ‘ruining’.


  3. I am writing because my name has appeared throughout a number of these postings and because I have been associated with “How to get Out Of Debt” web site in a number of capacities far more recently than any associations with Accelerated Debt. (I think my last association with Accelerated was back in 2005.)

    My purpose is to set the record straight. I have know Jim Young for a number of years but have not had any communication with him in some years. I co-wrote a couple of articles when I was with but left that organization some 7-8 years ago or more. After that I wrote a couple of articles for Jim and offered his site as an alternative to select individuals in debt trouble.

    Jim’s major assists as far as I was concerned were to profession individuals of middle income (teachers, management, police officers) in need of debt assistance but not really behind in debt but right on the verge of requiring debt counseling and a Debt Management Program (DMP). I felt Jim offered a program to help these folks without damaging their credit. I also knew he had very few if any complaints against his service listed with the Better Business Bureau. Jim worked very hard to insure a debtor’s payments were made on time unlike numerous DMP’s.

    He and I disagreed on utilization of debt negotiation and the appearance of R-9 on a credit report but mostly agreed that the traditional debt counseling was not a very good solution.

    I have not been in any form of communication with Jim in years and therefore know nothing of his current operation. I understand my name is associated with his affiliate company Accelerated Trust which I knew very little about and not certain why my name is connected.

    I am having great difficulty accepting any notion that he and I have been connected in any way for a number of years. Jim Paid me for some writing I did for his site for an official certification (Can’t even remember what it was for now) in 2005 and that was the last communication I have had with him or Accelerated Debt Consolidation.

    These are the facts as best and as honestly as I can recall… Mike Killian.

  4. Steve,

    I am at home now and I do not have Kike Killian’s article on my home hard drive. I will send it tomorrow. However I take OFFENSE to the way you word your reviews, For example, what difference does it make that David Bridges and Sport Data inc. are listed as the owner of my domain ? He is a personal friend of mine and has been hosting my website for 9 years, he is also a software designer and he hosts my website as a side line. And ANOTHER SERIOUS point that needs to be made here is this. IF I WERE NOT TELLING THE TRUTH, HOW WOULD I HAVE AN A+ Rating with the BBB and ZERO complaints ? I have been advertising “Debt Management For The More Sophisticated Consumer” For 12 years because I had another company before Accelerated. I have a way of setting up my clients accounts in a DMP that does NOT reduce their credit score. I have been doing it for 10 years and my BBB Record proves it. If I was making FALSE claims I would have a MYRIAD of complaints against me. I will have Mike Killian contact you to detail how I do things and I will also have Jacqueline from One Plus One Systems write you also. I don’t understand why you take a company like mine with a PERFECT RECORD and continuously “DOG” what I say. I can provide ENDLESS testimonials from actual clients of mine that utilized my service and experienced no DROP in credit score at all, I will have Jacqueline get back to you and EDUCATE you on how this all works. Quite simply, when you see Mike’s article you will see how we do it and it WILL EDUCATE you. As I have said to you before, THINGS HAVE CHANGED SINCE YOU WERE AT DCA. I have HUNDREDS of clients that would be happy to email you and tell you what their credit scores are AFTER joining my program. You may not know this but in the cases of Citibank, Chase, Bank of America and and others, if the client closes the account before the submission of proposals NOTHING is reporting at all as far as being in a DMP. Creditors like Discover and HSBC will report that the account is in a DMP everytime whether or not we have them close it first or not and this STILL does not drop the credit score.. As far as your comment “Who closes is not relevant” we will deal with this tomorrow with Jacqueline. If you are still seeing quotes from my CAUTION page stating that we needed a 501.C3 back in 2001 that is some old version of the CAUTION page. There is no reference to that now and we NEVER advertised as a Non Profit. You took every opportunity you could to discredit my article and I don’t appreciate it. Mike Kilian and Jacqueline will be getting back to you in addition to numerous other actual clients of mine that will VERIFY that what my website says is true. I would appreciate it in the future that if you are going to “DOG” articles do it to SETTLEMENT SCAMS that you claim are the best. Here’s one you had listed as BEST “Freedom Debt Relief” Here’s their “F” rating from the BBB.

    Once again, I MAINTAIN an A+ with ZERO complaints, your former co-writer Mike Killian will verify this, the BBB Verifies this and tomorrow I will have numerous other business owners related to my business and actual clients write in to verify that what I say is TRUTH. So once again GET YOUR FACTS STRAIGHT before you run off in the manner that you have been and disputing what I say in my articles. I am a reasonable man and if you want to call me you are welcome to as you can find my phone number on my website.

    Jim Young CEO

    Accelerated Dent Consolidation, Inc.

    • Jim,

      Regarding the domain. It is very unusual for a company to not own its own domain name. I just reported what I found. “I find it odd that the primary domain for this company is listed as being owned by a sports data company.”

      Your statements about you owning a non-profit are live and current on your site and Google. All I did was put “Accelerated Trust, Inc.” in Google and up pops the page on your site that talks about “your” non-profit and says “Our firm also owns and operates a 501-C3 non-profit corporation called Accelerated Trust, Inc.” If you think it is not on your site and live, you need to look again. Just now I did the same Google search again a few minutes ago and that same page still shows as result four. – Source.

      I’m not dogging you. I’m just reporting what you are saying on your site. This is the same information the public and everyone sees, not just me. If stuff is not on your site as you want it to be, this is an opportunity to fix it.

      I have no idea what you are saying about me reporting “Freedom Debt Relief” as being the BEST.

      I did show that you have an A+ rating and I said that no complaints were found.

      So if I understand this correctly, you are upset with me because I said you don’t own your own domain name, which you don’t. You said I discredited your articles. I didn’t review any articles or publications you wrote, I commented on what your web site says. You say there is no reference to the non-profit on your site but the page I found it on is still live on your site as I write this.

      Finally, I think the only statement I made that is not sourced is that we have a difference of opinion about the credit score impact of closing the accounts and I have asked a credit bureau for an official statement on this to get it straight from the credit bureau to settle this difference. And I agree that closing an account before being in included may not show it being reported in a DMP but it still does sever the history.


    • JIm,

      Not sure if you had a chance to review Mike Killian’s comment.

      Now, regarding the credit score issue. As promised I did go straight to FICO and get a statement from them regarding the DMPs and credit scores.

      The example I sent to FICO was for them to help me to understand how the credit score would be impacted if a consumer had open accounts versus closed accounts. Consumer A – 5 accounts open for 6 years. Accounts still open and active. Consumer B – 5 accounts closed for the last 2 years but had been open for 6 years prior to closure.

      All other things being even, would the score calculated today for Consumer A be the same or higher than the score calculated for Consumer B?

      I told FICO that a Credit Counseling and DMP group was asserting that placing accounts in a debt management program does not hurt the consumer credit score. “I see one of your responses that debt management ruins consumers credit and THIS IS SIMPLY NOT TRUE.”

      Here is what the spokesperson for FICO, the company that maintains the industry standard for credit scoring models, says:

      “The FICO algorithm does give more weight to recent credit activity. Taking that one step farther, if in your example those were the only credit accounts for consumer B, she likely wouldn’t have a FICO score at all now. Minimum requirements for calculating a FICO score are that the credit report must contain at least one account at least 6 months old, contain at least one account that has been updated by the creditor within the previous 6 months, and have no deceased indicator. If consumer B’s accounts have all been closed at least 2 years, her credit report almost certainly won’t satisfy that second condition.

      Other factors come into play too. Roughly 30% of a FICO score consists of “amount owed” factors, and a significant piece of that action is credit utilization rate. The algorithm assesses the utilization rate of each open and active revolving account, and separately of all such accounts in aggregate. Closing an account usually removes it from that calculation and can change the aggregate utilization rate. That isn’t sufficient reason to keep an account open, mind you, if the person will rest easier if it’s closed. But it’s another way that closing a revolving account can affect the person’s score.

      Going back to your original question, the credit counseling company asserted that 1) accounts once included in DMP and now closed by creditor will have no impact on credit score, and that 2) a DMP will improve a credit score.

      Assertion 1 is incorrect since the closed accounts will continue to influence the score’s assessment of length of credit, and the ABSENSE of the accounts from the credit report could influence other factors such as credit utilization rate.

      Assertion 2 is incorrect since a DMP is not a single event but an umbrella for a variety of credit actions over some length of time, each of which will influence the person’s credit score when lenders report them to the credit bureau. The impact of each credit action on the score will depend on the action itself and on the other information present on the credit report. Therefore while a DMP may in aggregate improve the person’s score, it also may lower the person’s score. I would be willing to say that a DMP will improve a credit score only if the DMP is restricted to two type of actions: paying all bills on time as agreed, and paying down existing credit obligations. If the DMP includes any other actions — including closing accounts — we can no longer generalize about whether the DMP will improve the person’s score.”

  5. In response to your article, Neil Young died of Pancreatic Cancer in 2009, Dave Wintermute was on the Board of directors. The web host is David Bridges who has been hosting the web site for 9 years that is why the domain is in his company name Sport Data, Inc. and we no longer have the quote on our Caution page stating that we own and operate a non profit so you must be looking at an old version of the site. Here is the link to the CAUTION page that exists now ALL companies that are paid for DMP’s will be revoked and we got that straight from the I.R.S. agent when we were audited in 2007. We were revoked from our 501-C3 status for Accelerated Trust in 2008 and did not reapply for a new 501-C3 because we don’t even need one now. In addition you continue to state every time I see one of your responses that debt management ruins consumers credit and THIS IS SIMPLY NOT TRUE. Go to our BBB Report and read the review from one of our clients with a credit score of 789. I have personal friends that are clients of our company that have not affected their credit by using our program and it involved HOW We do it here. Also I have been working with a LEGITIMATE credit repair firm for 10 years that has been in business since 1995 and their BBB Report can be seen here

    Finally if you want to verify what we do and how well we do it you can contact Mike Killian a man that I know that you know and have worked with on articles and he will tell you why he referred literally thousands of clients to us and wrote numerous articles about us while he was the Credit/Debt Management editor at Once again GET YOUR FACTS STRAIGHT

    • Jim,

      So sorry to hear about the loss of Neil to pancreatic cancer. I’ve lost loved ones to the same disease. It is very sad.

      The mention of Accelerated Trust came from your site I looked at today. You can see the source link for the page and then look at the properties for the date and time.

      I’m curious, how does the pay for delete removal of factual charges off and delinquent accounts not violate the Credit Repair Organizations Act, especially that section that says “No person may make any statement, or counsel or advise any consumer to make any statement, which is untrue or misleading (or which, upon the exercise of reasonable care, should be known by the credit repair organization, officer, employee, agent, or other person to be untrue or misleading) with respect to any consumer’s credit worthiness, credit standing, or credit capacity to”

      The BBB link you sent me was for a different company owned by Jacquelyn Young. Any relation?

      I did not say that enrolling in a credit counseling program currently has an impact. At least it is not reported as an R7 as it once was. If I read your comment correctly, you are saying that even though an account included in a credit counseling program will be closed by the creditor that it does not impact the credit score at all? Since upwards of 30% of the score is comprised of the activity of currently open accounts, how would closing those accounts, potentially all of them, not have an impact on the score?


      • Steve,

        We have our clients close accounts that are included in the DMP before we submit proposals. That way the accounts show as “Closed by consumer” rather than “Closed by credit grantor” I have provided letters for literally thousands of clients in the last 12 years that have gotten them approved for mortgages and car loans and leases while they are in the program. I have a personal friend that has 2 Chase accounts in my program and a Bank of America account in the program. His credit score is 801. Some creditors like HSBC and Discover report that the client is in the program every time even if they close the accounts first but the entry of credit counseling or DMP does not drop the score. It is put there to stop them from obtaining additional REVOLVING debt while they are in the program.

        • Jim,

          It’s not the notation that I am focusing on. It is the closure of the account, either by the consumer or the creditor that severs the value of the history in future credit score calculations. I have asked a credit bureau for an official statement on this to help clarify it for everyone.

          When I ran a credit counseling company I too was able to help people get cars, mortgages, or leases. I’m not questioning that. My concern is the implication that a credit counseling program has no impact on a credit score.


      • Steve wrote

        “I did not say that enrolling in a credit counseling program currently has an impact. At least it is not reported as an R7 as it once was. If I read your comment correctly, you are saying that even though an account included in a credit counseling program will be closed by the creditor that it does not impact the credit score at all? Since upwards of 30% of the score is comprised of the activity of currently open accounts, how would closing those accounts, potentially all of them, not have an impact on the score?”

        If you read the article I sent you from Mike Killian you will see that we have our clients close their accounts prior to sending proposals so they reflect “closed by consumer” on the credit report.


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