Ram Financial – Scam, Complaint, Review, or Praise?

Please share your experience with this debt relief company and provide your review and feedback, in the comments section below.

The goal of this page is to allow people to share information that may be important to help others to make a more informed decision regarding their experience with this debt relief company. Here are some potential questions you might be able to provide feedback about.

  • How did you feel about the customer service experience you received?
  • Was the company easy to communicate with before or after you became a client?
  • Did the company respond to your communications promptly?
  • What were the fees charged for the services you received?
  • Did the company give you the terms and conditions for the program you were interested in before you gave them any personal information?
  • Was the program successful for you and accomplish the goals you had when you entered the program?
  • Did you have a really good experience you can share?
  • Did you have a bad experience you want to share?
  • Is there any other information you’d like people to know that might be considering the services of this company?

It is important to understand when reading comments below that they are the opinions of the individual posters and may not be representative of the overall impression of all consumers that may have or have not used the debt relief services of this company. But everyone does deserve to have an opportunity to express their opinion, even the debt relief company itself, be it good, bad, or indifferent.


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13 thoughts on “Ram Financial – Scam, Complaint, Review, or Praise?”

  1. you’re right randy. i’m a client and ram financial was recently acquired by ads – here’s the email i received from them last week:

    Dear RON

    Welcome to the American Debt Control family!

    American Debt Control is now servicing all of the clients of RAM Financial Services. We anticipate a brighter future from a synergy of great ideas! Here at American Debt Control settling your debt with Excellence in service is our PASSION! With almost 4000 clients in our family and 75 – 100 settlements completed on a weekly basis, we strive to and maintain individualized customer service for each and every member.

    We have the same concerns as our clients, to make this transition is as smooth as possible.

    We know you may have questions and you will find answers with our friendly Customer Care Representatives at 866-726-2122. You can continue to fax all correspondence to 877-404-7172. If faxing is not a possibility you are more than welcome to scan in and email your correspondence as well.

    You may also mail copies of your correspondence to:

    2140 Hall Johnson RD
    Suite 102, #350
    Grapevine TX 76051

    We do request that you either call or email us with an update of your savings amount that is readily available for settlement. We will request this information once a month via telephone and/or email along with any recent correspondence.

    We look forward to hearing from each and every one of you!

    American Debt Control
    Grapevine, Texas

  2. Well, we’ve been enrolled with Ram since April of 2009. They settled two accounts favorably, but three of the accounts I placed with them sued, and I had to hire an attorney.

    One of my creditors called me today, however, saying they’ve been unable to contact Ram for two weeks. I tried, too, and got voicemail, which is unusual. Then I emailed everyone at Ram I know and have received no reply, which is also unusual. Finally, I tried to visit their website: http://www.calltheram.com, and it’s gone. I’m thinking Ram might be, too. Might have been nice of them to let me know they were going under before they debited the funds I had saved to make pay-off’s with out of the special account they required.

    • The main point of the article is the lack of transparency by the debt settlement industry, something I’ve called for as well.

      In a written statement, the Council of Better Business Bureaus stated, “Debt negotiation/settlement businesses are downgraded in the BBB rating system based on BBB concerns with the debt negotiation/settlement industry. The FTC held a workshop on debt negotiation/settlement last fall, and similar concerns were expressed as to how the industry operates and the likelihood that debt negotiation/settlement benefits a significant number of consumers.” The organization has indicated a willingness to review its rating system upon receipt of further documentation by TASC.

  3. I can tell you that I went the settlement route and it worked out great for me. As far as RAM Financial I know nothing about except that they have 1 complaint on their website which was resolved. From what I hear though the head of the BBB is tied into CCC and has given or about to give all debt settlement companies F Ratings. Steve: Is any of this true and if it is true does that make the BBB biased and should us as consumers even give them the time of day?

    • The reason the BBB gives most debt settlement companies is because the industry as a whole has a massive number of complaints. I have seen a few debt settlement companies with A and B ratings.


  4. I used RAM financial in the past and had nothing but problems. They currently hold a D- rating with the BBB and do have complaints filed against them. I paid almost $12,000 and am now still receiving calls from the creditors stating that they were never paid. After months of contacting RAM they finally sent me “supposed” letters from the creditors, some of which were hand written on a piece of white paper. Professional? No! I have received letters from the credit bureaus stating that I was committing fraud with how my accounts were being handled. In my opinion I would stay away from RAM. You are better off contacting the creditors yourself and offering them a settlement, in the long run it will be much cheaper and you can save all the headaches.

  5. This is my first time I’ve ever had to use any service like this so I really didn’t know what to expect. I did my research and found that EVERY debt settlement service I checked into had a bad reputation with the BBB or had changed their name or had been sued in a class action. That is until I found RAM. It was by word of mouth in a forum, not an elaborate over-payed ad of some sort. They had ZERO complaints with the BBB. I have been with them for 5 months now and so far so good. They have taken care of every creditor that calls me (they keep changing collection companies) and have been there every time I needed someone to tell me “It’s OK”. Having an unpaid debt is an embarassing thing to start with but they make it easy to talk about and take all the time that YOU need to get you through those questions and concerns. I have no complaints thus far and I am confident that if anyone can get this settled for me it is them. Just call and talk to someone and you will tell the difference immediately. It’s kind of like talking to your personal bank or someone you’ve been doing business with for years. Good folks in my opinion. Thank you Holly and Sierra, you ROCK!!!


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