Debt settlement companies claimed 85–100% success rates to undercover government investigators. Federal and state agencies documented actual rates often in the single digits. Here is what the research shows before you enroll.
Want to know if Arc Advantage is the right choice for your situation? Here’s how to research them yourself using CFPB complaints, enforcement history, and the questions to ask before you sign.
Want to know if Settle Our Debt is the right choice for your situation? Here’s how to research them yourself using CFPB complaints, enforcement history, and the questions to ask before you sign.
Liberty1 Financial is a for-profit debt settlement and personal loan company. Here’s how to research them yourself — using CFPB complaints, BBB profile, enforcement history, and Trustpilot reviews.
Quick Answer: The AFCC appears to be experiencing internal conflict over third-party services policies, with many members migrating to the newer Consumer Debt Relief Initiative (CDRI) founded in 2020. Smaller debt relief companies believe larger firms like Freedom, National, and Century are using AFCC policy changes to eliminate competition and consolidate market share.Question:Dear Steve,The recent …
Quick Answer: California’s AB-1405 “Fair Debt Settlement Practices Act” will impose strict regulations on debt settlement companies, including payment processors and prohibiting deceptive practices. The law requires new disclosures that will likely reduce sales for settlement companies, particularly those based in California’s Irvine area.California is getting ready to pass AB-1405 titled “Fair Debt Settlement Practices …
Quick Answer: Both CDRI and AFCC appear to be industry trade groups focused on protecting debt settlement company fees rather than consumer interests. The Consumer Debt Relief Initiative (CDRI) launched in January 2021 claiming to protect consumer access to debt settlement, but their messaging suggests prioritizing industry profits over acknowledging faster alternatives like bankruptcy.An email …
Quick Answer: Debt relief mailers like those from Credit Associates are often misleading, using government-style designs and vague promises while the fine print reveals they’re selling debt settlement services with undisclosed fees. These mailers typically provide loose estimations that don’t reflect actual costs or realistic outcomes for debt relief.A reader that wanted to be identified …
Quick Answer: After a debt negotiation representative yelled at a widow, Debt Negotiation Services immediately terminated the employee and the AFCC suspended the company’s membership pending review. Both organizations took swift corrective action to address the inappropriate conduct and assist the affected consumer.Please read the update below from Debt Negotiation Services. They deserve praise for …
Quick Answer: S&N Debt Solutions uses deceptive marketing tactics, sending fake credit card mailers that appear to offer loans but are actually advertisements for debt settlement services. The company’s website snfinancialcard.com is registered to Arthur Wang in West Virginia, and the fine print reveals this is strictly a debt settlement advertisement, not a credit offer.I …
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