CreditAssist Financial Services markets itself as a debt settlement company to consumers on sites such as creditassistfs and debtsettlement4less. They advertise themselves as "America's Number One Debt Settlement Firm."
They collect the consumer's state of residence, email, and phone in advance just so they reduce debt more efficiently. Not because they are really a collection agency skip tracing for debt buyers. Right? You be the judge.
CreditAssists' consumer websites explain what their experience means to the consumer:
"CreditAssist's founders were former collection executives with some of the largest Credit Card Companies in the nation (Citibank, American Express, Bank of America, and Washington Mutual). This means that they know the inner workings of credit card companies, debt buyers and collection agencies, what they will agree to in terms of debt settlement and what they won't."
But CreditAssist is sending this press release prweb(dot)com/releases/2008/03/prweb794114(dot)htm to collection agency news sites pitching a different service called DebtBuyerAssist.
The press release puts a different spin on what their experience means to bill collectors:
" CreditAssist was founded by collection industry veterans Rick Wittwer and Carmine Dorio. Our experience managing collection activities at most the major credit card issuers including Citi, American Express, BofA, and WAMU puts us in an enviable situation. We know the effectiveness and ineffectiveness of mail, collection call, and legal collection strategies. We also understand the costs associated with each of these strategies. No matter how much effort or expense is placed against the majority of accounts, debtors just won't respond, says Mr. Dorio."
"CreditAssist works with Debt Buyers to identify their unreachable populations and helps them develop both print and voice customized referral strategies. The debtors are offered an alternative to resolving the debt through one of their collectors by referring them to CreditAssist, an independent debt settlement company that represents the debtor to the debt buyer and offers similar settlement rates."
The consumer is charged a fee by CreditAssist to negotiate on their behalf. But if CreditAssist has sold the consumer's information to a debt buyer (as DebtBuyerAssist) and is also collecting a fee from the debt buyer that would be acting as a third party debt collector without disclosing it to the consumer they are supposedly representing.
Anyone who has paid CreditAssist or even provided their contact information to them needs to contact a consumer attorney immediately.
Credit Self Defense
URL's inactivated in accordance with TOS- Richard
Great info there! Have you dealt with this company personally in the past? According to the BBB they just opened in Aug of 2007 and they don't have any complaints listed with them as of yet. They definately sound pretty shady to me. If someone is going to start trying to reduce or pay off their debts I would always advise them to research a lot of information about it first. Most people will find that you can do this yourself without having to pay somebody else big bucks to do it for your.
A collection agency marketing as debt settlement firm? Did I get you right?
ca
Yes, ANTHONY..I think you 'got it.' I thought I read the information wrong, too. ALOT of companies, like that, claim to "be the best."
That is what I was speaking of on another thread. I was really surprised when I heard a commercial on this very thing. They say that a good number of debt settlers are actually working for the debtor themselves. Talk about leading a person to a pack of wolves. People need to relize that they can do themselves what these companies are offering to do for them WITH NO FEE or risk of being fed to the wolves. A little research goes a long,long way.
Claims Tracing Service Inc
I just received a letter from this company addressed to my husband stating that they are trying to collect $244.43. They state that they will continue reporting this delinquent amount to the credit bureaus until my husband contacts them to make payment. There is not signature on the letter, not even on letterhead paper, and the date was changed by crossing out the original day and writing over it. It doesn't even say who they are collecting on behalf of or any information regarding when or where the debt was incurred. They do claim that they have tried to reach him numerous times. However, I have had no written correspondence nor voice mails regarding this. I am now going to write back to them since my husband is deceased. Even if he were still living, I wouldn'tbe inclined to pay this amount based on how crude the letter is.
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