Re: Anybody know Credit Foundation??

Posted by Paul (216.127.68.137) on June 02, 2004 at 00:16:49:

In Reply to: Anybody know Credit Foundation?? posted by JerNTN on June 02, 2004 at 00:03:20:

Credit counselors. They probably bought your credit report showing recent delinquencies and decided to give you an unsolicited call pitching their services. Gotta opt out, ya know. The CRAs are dinging your credit, then they sell the information to these scam artists.

Here’s their BBB rating.

This company's business is providing credit consulting services.

We rate this company as having an unsatisfactory business performance record based on a pattern of serious customer complaints.

Complainants allege unauthorized bank debits, inability to reach the company, late payments to creditors, no contact with creditors, and declining credit scores. Customers complain they are asked for credit card or bank account numbers, but are told the initial deposits would not be deducted until their contract was signed. Complainants report their accounts are charged without their authorization or knowledge, causing added financial distress due to bank overdraft charges. Others complain that the company fails to contact their creditors, even though the company debits their accounts monthly. A few customers complain of receiving unsolicited phone calls from the company offering debt relief.

The company responds to some complaints by issuing refunds, partial refunds, canceling accounts, or by claiming they receive verbal authorization from customers to debit accounts. The company generally disputes allegations that they fail to pay or contact creditors. In some cases, the company explains that it informs customers that it may take up to 90 days to get creditors to agree to a plan. They contend they abide by the terms of their client agreement. The company replies to solicitation complaints by removing the customer's information from their database.

California law limits the fees that a non-profit company debt management services may charge to California residents. Those fees include a one-time sum not to exceed $50 for education and counseling. In addition, charges cannot exceed 6.5% of the money disbursed monthly or $20 per month whichever is less. This company charges $39 a month which exceeds the permissible limits for California consumers.

http://www.labbb.org/scripts/cgiip.exe/WService=wsbroker1/C%3A/Inetpub/wwwroot/SouthlandReport/default.htm?hCompID=13183988&hAKAID=3&hAddrID=2

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