For those professional readers of the site in the debt relief industry, “Do They Comply” is an old game we’ve played in the past. In this case a debt relief reader wanted me to post information about Nationwide Asset Services to get feedback and opinions from others if this debt relief company was playing by the rules.
I was directed to nationwideasset.com and you will see the information I found below.
Nationwide Asset Services
1990 West Camelback Road
Phoenix, AZ 85015
What makes the claims of services interesting is that Nationwide Asset Services was sued by the New York Attorney General in 2009 saying, “Nationwide Asset Service promised 25 to 40 percent reductions, but less than 1 percent of its 2,000 New York customers saved that much.” – Source
In February of 2010 the Attorney General of Illinois also filed suit against the company for deceptive practices. – Source
Florida says their is an active investigation ongoing against Nationwide Asset Services as well. – Source
The primary concern of the debt relief industry reader (and thanks for the tip by the way) were the fees being charged.
The site does say there is a setup fee of $399.
I did find a very interesting page on the site that made me wonder what the actual fees being charged are.
This page appears to give the impression that consumers that use the services will “have zero balance in an average of 30-36 months.”
Additionally the chart used to compare costs says the total paid for their service on a $20,000 balance will be $14,400 but they never say if this is inclusive of their fees or they are separate.
All you have to do to play is post a comment about if you think the debt relief company is in compliance with state and federal rules covering debt relief providers.
If you need help to search for rules and regulations, feel free to use the free compliance module on this site.
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