ABC Debt Relief
ABC Debt Relief, LLC is a debt settlement company with a business start date of 6/2007. A review of this company’s BBB report shows 36 complaints in the last 36 months, but since they have only been in business for less than 2 years, this seems to be a significant complaint record. Of the 36 complaints filed, 25 were in the last 12 months. The complaints range from contract issues to customer service and seem to cover all aspects of the debt settlement program. To ABC Debt Relief’s credit, most of the complaints were resolved in a timely manner, and most of those that were not were administratively closed due to client’s non response or failure to support their claims. The BBB currently reports an F rating for ABC Debt Relief.
A search for complaints against ABC Debt Relief across the Internet revealed more complaints. The largest concentration of complaints seemed to be consumers who did not understand that their creditors were not going to get paid monthly and that debt settlement takes time. This type of complaint seem to be very common in this industry. Without knowing exactly how many clients ABC Debt Relief has it is hard to accurately asses the severity of large numbers of complaints.
In a typical debt settlement program, the majority of accounts are not settled until after the 2nd year of the program. This is simply due to the fact that accounts are not aged and delinquent enough for settlement until well into the program, but also the client does not have sufficient funds saved to settlement escrow until that time. Since this company has only been in business since 6/2007, you have to consider that they may not actually have many or any clients who have completed their program at this time.
On March 17, 2009 ChoiceREVU Editor wrote:
Since ABC Debt Relief has not been in business very long and has a significant number of complaints with the BBB and on the internet in general we recommend caution if you choose to work with them. – ChoiceREVU Editor
On April 28, 2009 Lucas wrote:
I looked into this company before signing with another one and there website said they were members of the BBB…I called the BBB and they told me there was no way this company would qualify to have a good rating let alone be accredited members of the BBB.
The BBB sent me an email they would look into why the company was misleading consumers on ABC Debt Relief’s website. Now there members of the best internet bureau according to there website–What kind of bureau is that, lol?
On July 9, 2009 Jennifer wrote:
We looked into ABC Debt Relief as an option to financial difficulties. The support people seemed clear and eager to answer any questions. We were ready to proceed with the program until we read the terms and conditions which basically stated there is no quarantee ABC can get the creditors to settle. So you end up paying ABC a percentage of your intial debt amount, even if they cannot settle your debt with a particular company. Your basically paying them to call up your creditors and settle. Well why would I pay them $7,000.00 to do something I CAN DO!! I never sent back the signed and authorized contract. They debited my savings account anyway without authorization. We initally gave them the acct no. for preliminary info. which was our mistake right there. So in the end they cost us $100.00 in bank fees.
On July 9, 2009 ChoiceREVU Editor wrote:
In all fairness, no debt settlement company can guarantee that they will settle your accounts, or guarantee any particular settlement. However, many have a policy to prorate refunds on accounts not settled. There is no excuse for drafting the account of a client without full authorization, and it is this kind of behavior by debt settlement companies that give the industry a bad name. This is exactly why we have put together this site; to allow consumers to get a look at the company they are considering. FYI: this is not the first complaint of unauthorized payment drafting against abc debt relief we have seen.
On December 17, 2009 Arifan Memon wrote:
ABC DEbT Relief in Dallas Taxes.. These people are scammers and have took over 5000 from us and have done nothing.. Please be aware of these people…
Thanks – Arifan
On February 24, 2010 kae wrote:
UNFORTUNATELY, We signed up with them and they took a while to start doing anything, after $1400 paid out to them,(and we regreat it)so, we decided to back out and do it ourself and now we are free of debt within 24months! it just take some efforts..you can do it yourself too.