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.