“Dear Steve,
I recently joined a DMP program through American Financial Solutions (myfinancialgoals.org) and after two days I received a letter from them stating that the agency is being cancelled due to the following reason: Credit Info Change. I really don’t understand what this means. It also stated that each creditor has their own policy on how they will proceed on handling my account and they also advice me me contact my creditors asap in order for to notify them with my current address and discuss my status. Can you please explain this to me? Thanks,
Renee”
Dear Renee,
I was unfamiliar with the statement you were given as a result of your account being terminated. The only thing I could think of would be new credit appearing on your credit report but certainly that would not trigger a termination after only a couple of days in a debt management plan.
So I contacted Barbara Mascarin, the Director of Operations for American Financial Solutions and inquired about the termination reason you were given. Here is what she said.
Please ask Renee to contact her counselor or me as soon as possible so that we can get to the bottom of this. We certainly are not being cancelled and I can only guess that she may have received a letter regarding one of her creditor proposals and misunderstood it’s meaning. Of course, I have no way of knowing unless I can look at her account and for that I would need her contact information. Please assure her that we will look into this immediately and let her know that she can reach us by phone or e-mail whichever is more convenient.
I think what may have happened is that she enrolled on the Debt Management Plan with us and then called back and cancelled her program a few weeks later. When a client cancels their Debt Management Plan, we send a letter confirming that their DMP is being cancelled and that we have notified their creditors. The letter instructs them to contact their creditors also to make other arrangements and to call us if they have any questions. It also invites them to make continued use of our educational programs if they would like. I think this may be what she is talking about but again, she should feel free to contact me and I will be happy to explain.
The response from Barbara at American Financial Solutions seems genuine and authenticate to me. I would urge you to contact Ms. Mascarin at 1-888-282-5492 ext: 1103 and give her your personal details so she can specifically look into your specific situation.
I’ll ask Barbara to let me know if she finds out anything else about this situation to help clear it up.
Please update me on your progress by
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