Credit Solutions
Credit Solutions boasts of "world class" customer service that helps consolidate and settle debts for their clients, all the while providing them with sufficient knowledge to look towards a secure financial future. Credit Solutions is believed to be the largest debt-settlement company in the U.S.
Credit Solutions is based in Texas, and was founded in 2003. Among the many statistics that are highlighted repeatedly, they claim to have settled debts of over $1 billion since their inception. Their debt-relief plan is spread over 12-36 months and they pride themselves in a 99.4% customer satisfaction rate, while having served more than 250,000 people.
For all their financial solutions, Credit Solutions claim to have top of the line technology, combined with excellent customer services and comprehensive and reliable results.
The Credit Solutions website is positive and reassuring. Their approach is very friendly, and the website is easy to navigate. Although the effort is to get a family feel to their homepage, other companies have more graphic and alluring images in this regard. Credit Solutions' claims are backed up with statistics, which add credibility and are thus less likely to be dismissed by potential clients. An interesting feature is the graph with a ticker running underneath - it is the amount of debt settled, in dollars, since 2003, to the nearest client.
Their services for handling financial crisis are broadly categorized into Debt Consolidation Loan, Credit Counseling and lastly, Bankruptcy. On further navigation through these sections, it becomes clear that there is not much substance to back up these claims. Each service is summarized in about two sentences. These explains what the process entails, but how Credit Solutions plans to achieve that is unclear in all three above mentioned categories.
Their FAQ section lists about 9 questions, all of which are general in nature. There is no mention of the fee structure and tools to assist in the financial management aspect.
The advantage Credit Solutions offers is a 24/7 available counseling line. The phone support is exemplary, as it had a hold time of only 3 seconds. Remarkable in this day and age of long waits on the phone. The Credit Solutions representative is able to help, yet still non-committal about the fee structure.
Credit Solutions, apparently negotiates fee structure on an individual basis, with the individual client. This is not the normal practice of companies. Credit Solutions however follows the standard practice of asking the clients to stop making payments to the creditors, and instead make an accumulated payment to Credit Solutions. While interest and other charges keep rising on the outstanding debt value, Credit Solutions waits for creditors to contact them, wherein they negotiate and get the best possible deal for each client. Their long standing credibility in these circles coupled with the large size of their business, gives Credit Solutions outstanding leverage to work in the client's best interest. Credit Solutions takes its fee from the monthly payment of the client.
Debt relief management tools for the client are lacking. While other companies have resources to aid in budget planning, credit cards, discounts and message boards that allow customer help, Credit Solutions fails in this regard.
In their settlement letters section, they advertise all the clients or rather the "big accounts" that Credit solutions has helped settle. The table charted out is full of numerical data, making it uninteresting for an average client.
Credit Solutions stakes it's claim to fame with a separate category titled "Awards", while there are numerous and varied awards, familiarity, of the average client, with them is rare. Memberships of the credible AADMO (American Association of Debt Management Organizations), U.S.O.B.A. (U.S. Organizations of Bankruptcy Alternatives) are visible. Credit Solutions is also listed with Dunn& Bradstreet.
It is certified by BSI and a platinum member of IAPDA (International Association of Professional Debt Arbitrators).
Financial reviews of any company, such as this, are meant for educating, not advocating. For a client to utilize the services of a company, thorough and extensive individual research is a must.
Credit Solutions has impressive statistics, with a welcoming homepage. However in-depth analysis reveals gaps that are unabridged. Information regarding important aspects of the debt consolidation and credit process is lacking. With Credit Solutions it is best advised to walk slowly and cautiously towards the solution it offers.
Also find out what the fee is going to be before there is any commitment with using the services of Credit Solutions
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