United Financial Systems Looks Set to Implode. Run For The Hills!

For some time I’ve been writing about United Financial Systems. They are a non-profit 501(c)3 credit counseling company. They’ve been around since 2001.

Interestingly they still display the American Association of Debt Management Organizations (AADMO) logo on their site showing they are “Fully Certified” but AADMO went out as a trade association over a year ago.

For years United Financial Systems hummed along just fine and people had little to no issue with them, until this year. For whatever reason client payments were allegedly posted incorrectly, sent late to creditors, customer service went downhill, and most troubling, their complaints went way up.

According to the BBB, as of today, United Financial Services has:

  • 245 complaints filed against business
  • Failure to respond to 35 complaints filed against business. – Source

If you look at the rate at which the BBB complaints are coming you’ll see why I am concerned.

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These are reported complaints in the last three years. You can extrapolate the current complaints as the difference between the August number and now.

8/15/2010 – 170 Complaints
9/1/2010 – 181 Complaints
9/17/2010 – 191 Complaints
9/20/2010 – 198 Complaints
10/14/2010 – 225 Complaints
10/19/2010 – 235 Complaints
10/25/2010 – 245 Complaints

With limited customer service available and escalating complaints, the pieces are perfect for a horrible situation. The logical solution is to move your account before you get left stranded.

My Advice

United Financial Systems has had ample time and opportunity to deal with whatever underlying problem they’ve had. Due to the escalating complaints and the tremendous difficulty consumers have had trying to reach the company my advice is the following:

  1. Before UFS implodes and makes it impossible to reach them or get a refund I would suggest you move your debt management account to this company. I know the office of at least one Attorney General has sent people here as well.
  2. All UFS clients should contact their creditors and check on the payment history with the creditor. Consumers may assume that everything is fine with payments but creditors may not have sent statements since the account is on a debt management plan.
  3. If you discover a payment was missed, call the creditor immediately and explain what is happening.

I am especially troubled that even with the current problems the company is having, their website is still soliciting new business.


As of 11/8/2010 – 285 Complaints. Failed to respond to 71.
As of 11/15/2010 – 301 Complaints. Failed to respond to 88.

Damon Day - Pro Debt Coach

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