I don’t know how in the world I landed on this press release from The Association of Settlement Companies (TASC, but I did and I wasn’t looking for it. The press release contained a very interesting statement. – Source
The audit process is investigating and confirming member compliance with organization bylaws which dictate business practices and ethics standards. In addition to a review of Web site content, member audits include “secret shopper” calls placed by a third-party acting as potential customers. If a TASC member is found to be in violation, they risk being removed from the association in 60 days if the offending behavior is not amended.
“TASC wants to send a message that we will not stand for negligent debt settlement companies,” Birnbaum said. “It’s our responsibility to consumers and to reputable member companies to enforce strict compliance across the board.”
Should any violations be found, the member company will be provided notice and 30 days to remedy the issue. If after that period the violation continues, the member will be placed on 30-day probation with indication of probationary status on the public TASC Web site. If after that period the violation remains uncorrected, the member will be removed from the association and lose membership rights, including the privilege of displaying the TASC seal online. – Source
What I was hoping for was a promise of openness and transparency for consumers to be able to read the TASC member company debt settlement programs terms and conditions. Now that would be a welcome change and very valuable for consumers in my opinion.
Having access via the member’s web site to read the debt settlement program terms and conditions would allow consumers to make smart, informed, and intelligent decisions about which TASC member debt settlement company they wanted to work with before applying or giving up personal information. If the terms of the program are going to be completely open they would include the fees that will be charged as well. This is all information that consumers need to make the best choice for themselves.
Or, the alternative meaning of the press release statement would be that the member agencies have a link to their site terms and conditions. In my option, if that’s what TASC meant, that’s totally meaningless and does not help consumers when selecting a debt settlement program to work with from a TASC member agency.
Now, TASC may say that the press release is from 2008 so it doesn’t matter anymore. Or they may say that they didn’t really mean consumers should see the actual debt settlement program terms and conditions. Either of those responses would be disappointing and in my opinion only support a lack of transparency which does not help consumers.
So I went and looked at the current members of the TASC board that have web sites that advertise debt settlement programs. – Source
Do TASC Board Members Have Debt Settlement Program Terms & Conditions Available on Their Web Site for Consumer to Read?
John Philbin – Debt Remedy Solutions: Can’t Find Them. – Source
David Prince – Square One Debt Settlement: Can’t Find Them. – Source
Wesley K. Young – Century Negotiations: Can’t Find Them. – Source
Chris Kesterson – American Debt Exchange: Site AmericanDebtExchange.com would not load.
Chris Kesterson – Debt Settlement America: Can’t Find Them. – Source
Andrew Housser – Freedom Financial Network: Can’t Find Them.
Joanne Garneau – Nationwide Support Services: Can’t Find Them. – Source (Could not find TASC seal either.)
David Leuthold – Century Negotiations: Can’t Find Them. – Source
The irony here is in my opinion credit card companies offering credit products online do a much better job that the sites above did in displaying product terms and conditions.
So of the sites that worked, I could not find one site that listed the debt settlement program terms and conditions from the TASC board members above. Why do you think that is?