Thanks to another wonderful tipster (send in your tips here), here is another version of the sudden wave of misleading and deceptive debt relief mailers that are being sent out. This one is titled the Credit Card Responsibility and Disclosure Act of 2011. What is blazingly stupid is that in the very first sentence it refers to the Credit Card Responsibility and Disclosure Act of 2009. So which is it?
The mailer says it comes from US Financial Solutions, 1718 M St, NW #364, Washington, DC 20036. They list their phone number as 888-777-9032. The letter then later refers to the organization as USEFS. So what’s the E for?
The mailing address is for a UPS mail drop in Washington, DC.
This letter is a horrible example of the worst type of deceptive marketing. It starts out talking about a “government monitored hardship program” and then ends with fine print that says, “This is NOT a government endorsed or sponsored program and USEFS is NOT affiliated with any governmental agency.”
The only thing anyone who receives this mailer has been pre-qualified for is to be marketed to. The pitch made in it is the same as you will see in other recent debt relief mailers that have been sent out.
The claims made are:
- Program does not adversely affect your credit;
- Is not associated with bankruptcy or debt settlement;
- Has been specifically designed to assist consumers in reducing high interest rate credit card debt;
- Reduce full balance in 24-48 months; and
- One monthly installment.
These claims are typically used in other deceptive marketing for debt relief services and historically for debt settlement services. The FTC telemarketing sales rules that went into force in 2010 stopped most of this deceptive marketing but in the past week or so there has been a strong resurgence.
I can’t find anything that convinces me US Financial Solutions is a legitimate company.
My advice if you or anyone you know gets this mailer is to trash it and Run Away!
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