Debt Relief Industry

BBB to Regrade Debt Settlement Companies

Multiple sources have now come forward to share with me information that shows the BBB has written an extensive guide on regrading BBB debt settlement company members.

The bottom line is that the BBB recognizes the importance of the FTC Telemarketing Sales Rule implementation and is using that as the basis of the regrading.

The good news is this will deflate all those companies with poor grades that have been trying to persuade consumers that a BBB rating doesn’t matter because of some setup Hamas BBB grade out in LA. Sure, I’ve had my issues with the BBB and they are not perfect. But consumers need them because if not them then who?

Anyway, the debt settlement regrade is going to hinge of full FTC compliance. The BBB is going to ask for a large amount of information in order to confirm compliance and will monitor companies moving forward.

Debt settlement companies that make time or money savings claims will need to support those claims and provide substantiation.


I can always use your help. If you have a tip or information you want to share, you can get it to me confidentially if you click here.

READ  True Cradle Robbers - Stealing Credit From The Cradle

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.

2 Comments

  • This is great news. I have long been frustrated by the BBB treating debt settlement as all bad. It made it impossible for a consumer to tell the difference by looking at the BBB and essentially made the BBB totally worthless for consumers in the debt help space.

    You are right on that all it did was give the B.S. companies an excuse for their F grade.

    I would love to finally see the good debt settlement companies receive A’s and most of the rest will get their D and F grades they have earned.

    This will make things so much easier for consumers.

  • This is great news. I have long been frustrated by the BBB treating debt settlement as all bad. It made it impossible for a consumer to tell the difference by looking at the BBB and essentially made the BBB totally worthless for consumers in the debt help space.

    You are right on that all it did was give the B.S. companies an excuse for their F grade.

    I would love to finally see the good debt settlement companies receive A’s and most of the rest will get their D and F grades they have earned.

    This will make things so much easier for consumers.

Share a Comment / Leave a Reply

%d bloggers like this: