| Debt Consultants of America Review |
 Debt Consultants of America has a unique fee program. This program is listed below, and the fee structure is somewhat confusing. Judging by some independent reviews, their fees are higher than that of other debt settlement companies. These fees caught some clients by surprise. Quick facts about Debt Consultants of America: Founded in: January 2006 Years in Business: 3 Number of employees: Not disclosed. BBB Rating: F BBB complaints: 54 in the last 36 months. These complaints are the standard service oriented issues that seem to follow many debt settlement companies. Free Information: Found on their website or you can contact them via their toll-free number. Escrow or Payment Plan Available: This is not disclosed. Source of Funds: Your monthly payments. Fee Structure: 10% of the total amount of debt enrolled into the program, followed by a monthly fee of $39.95 and then a 10% fee on the back end of the program based on the difference between what was owed and the amount that was negotiated down. This appears to cause confusion on the part of their clients about how much the program will cost. Avg Settlement: Not disclosed. Refund Policy: None given. About the Company 
Debt Consultants of America is based in Dallas, Texas. Coincidentially, so is Debt Professionals of America with the same address and the same owner. Beginning the Process Call their toll-free number or fill out their website form. Types of Debt Serviced Unsecured only. Worth Noting They have had a change in name during the last twelve months so that is a red flag. Usually that happens when a debt settlement company has too many complaints against them and they are trying to flee from some bad experiences. Program Caution and Your Responsibilities Be sure to read the fine print on any application that you are given and contemplate your responsibilities based on those terms. Will Debt Collectors Still Call? Yes, but they work with you to get them to cease. Other Information Both BBB listings on these companies have an “F” rating indicating too many complaints or that the nature of the complaints as well as the industry in which they are operating, pulls down the rating. It is in your best interest to check them out fully before signing up. Some of the reviews on an independent site indicate that large fees have been paid, but clients have seen little movement towards getting creditors paid off and the collection activities to stop. One bit of advice here is to avoid paying large, up-front fees before action is taken on your behalf. See if you can negotiate on this point. If not, then move along to another debt settlement company. Related Articles: |
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