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What Do You Think About Plan B Debt & Credit Consultants? – Dave

“Dear Steve,

This forum and website is very herlpful. I just found your site a few weeks ago and really find the help valuable.

I had submitted a question recently, but not sure it had been answered.

I found a posting herre about a company called Plan B, that offers an alternative to bankruptcy and othr approaches.

It sounded very intriguing.

I have a lot of unsecured credit card debt (around $70,000) and not currently working.

I would rather not file bankruptcy, yet I can’t afford to make monthly payments right now to debt reduction companies.

Do you have any additional information on the company called Plan B?

Any additional information on the company and it’s services (good or bad) would be very helpful.

Does their approach really work?

Have you had any experience (direct or indirect) with them?

Plan B (Debt & Credit Consultants)

I don’t want to waste money or time on a scam, but if it is for real, it sounds like it could be very helpful.

Thanks for your help and advice,


Dear Dave,

Let me just start by saying that I am not a fan of debt relief approaches that require tricks or tactics. When faced with difficult debt situations of unmanageable debt I think people achieve a greater benefit from the legal protection afforded by bankruptcy, especially to fully block being sued by creditors, avoid or eliminate judgments, and to address the debt situation with a well defined plan that creditors MUST conform to.

Nearly all the time people tell me they want to avoid bankruptcy it seems to be because of assumptions of bankruptcy or an emotional reason. Neither of those reasons are a good reason to avoid looking into bankruptcy. Before making any decision about bankruptcy you really owe it to yourself to click here to find a local bankruptcy attorney and talk to them for free. I prefer to see you make a decision about bankruptcy based on the facts not assumptions.

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Plan B seems to hinge on an approach that places liens against your property or assets using an Asset Guard product. I’m not sure I’ve heard back from anyone specifically that had a problem with Asset Guard but I have heard from others that have had issues with courts busting bogus liens and not able to get liens off their property.

Here is one of the Plan B informational videos.

As you can see in the video, the plan requires you to stop paying your creditors which will result in negative credit for seven years. But a Chapter 13 bankruptcy also results with it being listed for seven years as well. So no difference there. The big difference is the moment you file bankruptcy the collection process and lawsuits end. With the Plan B approach creditors can still pursue you, even if they are unsuccessful. But you’ll need to keep looking over your shoulder and waiting for them to catch up to you and challenge you.

I think the bottom line here is that the Plan B approach is a set of tricks and techniques to keep creditors at bay and does not address the underlying issue of the problem debt. Again, it’s just my opinion but I prefer to see people deal with the debt and make every day from that point a fresh start.

In fact I called a friend that had experience with the asset hiding approach to see if they had any additional insight on this technique and they summed it up best by saying the Plan B approach is designed for people that want to go into financial hiding rather than put the debt behind them.

I was intrigued that Plan B displays the SRSOA and IAPDA logos on the Plan B site (source), two groups I had some pretty big issues with. See Settlement Rating System of America (SRSOA). I’m Going With Laughable and International Association of Professional Debt Arbitrators – IAPDA Certification Exposed.

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Let me know what you decide to do and be sure to share your experience with them as you go.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


  • I have the deed to my house is paid in full. I don’t have any other debt. Excel my federal student loans that’s in the IBR Program. So I don’t wanna go bankruptcy. So what do I do about these three liens judgments that National Collegiate Student Loan Trust have have Alma my home. Any suggestions?

    • Since they went all the way through the court, you lost, and they obtained a lien your choices seem to be limited. You can either hire a lawyer to try and wind back the legal action against you or pay them now or when you sell the property.

      Since they are liens, there is little motivation for them to settle.

      The issue is NCSLT loans can be defeated if you are sued because they lack the documentation to validate them. However, only an attorney can tell you if it is too late to unring that bell.

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