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Credit Solutions don't tell you they are ruining your income tax bracket!!!!!!
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Jul 17, 2008 Credit Solutions complaint by Ntenufcats |
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Credit Solutions is horrid!!!!! They never told me that they money they "save" you is then considered earned income!!!! So if they supposedly "save" you $10,000 you have to claim that on your taxes!!! That will no doubt push you into a higher tax bracket!!!! After finding out about this, I called them to get the $2400 I had already paid them in fees and they refuse to refund!!! They never did anything for me but charge me fees and then try and screw me with the IRS!!!! The "supervisor" I spoke to was so obviously reading from a script and not to be rude but she obviously didn't get past the 5th grade. I guess they need to hire people who don't have a clue what they are doing to other humans or just don't have any ethics!!!
I'm beyond PISSED!!!
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1. Written by Consider This, on 10-08-2008 04:38
A. CSA has one of the worst BBB ratings possible
B. CSA *needed to approach* Ripoffreport.com for help
C. CSA deserves to rob you of your money if you still choose them after reading the above
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2. Written by jose, on 07-08-2008 12:25
You need to stop all payments credit solutions is taking out of your account. Demand a refund and threaten BBB and Federal Trade Commission complaints. Threaten to file a class action law suit against them. Do whatever it takes to get out of it.
I used to work there, I actually just walked out today. I was sick of the lies and corruption at that place.
OMG, it feels good to walk out of that place. You guys need to get out of their program. You can work your accounts yourselves. Get out while you still can...
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3. Written by RXMAYA, on 05-08-2008 23:29
OH GOD, PLEASE TELL ME THIS ISN'T TRUE. I SIGNED UP WITH CREDIT SOLUTIONS IN MARCH. I'VE PAYED ALMOST $5,000 AND IHAVE NO IDEA WHAT THEY HAVE DONE FOR ME. MY CREDIT IS RUINED, I GET 20 CALLS A DAY FROM CREDITORS. HOW DO I GET OUT OF THIS?
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4. Written by Angie, on 04-08-2008 10:30
I am so glad that I read this my husband & I were supposed to give ResQDebt an answer today. Has anyone heard of Financial Future Network? Does anyone know of a trustworthy company? We need help ASAP but with all the scams it's scary to know who to trust. Any help would be great along with the businesses website and phone #.
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5. Written by Jose, on 01-08-2008 17:44
kellyp, You need to cancel out of the program immediatly. Like the other former employee said, put a stop payment on the account. You can settle the debt by yourself, but beware the 1099C form for anything you saved over $600. You might have to pay a portion of the amount saved back to IRS.
Talk with the creditors yourself. If you want a good settlement offer than save about %50 of the current balance. That gives you room to work with when negotiating a settlement. Offer them a lower % than the %50 you have saved. but beware the 1099C form for anything you saved over $600. You might have to pay a portion of the amount saved back to IRS.
You can do this on your own. Credit Solutions charges too much for their services. Its ridiculous. I understand they want to make money, but the Sales team (your so called Debt Consultants) they mislead customer believing the current balance will not increase with late fees and penalities. They mislead customers Credit Solutions will protect them against lawsuit or judgements.
The creditors can do what they want. They can sue, they can garnish your wages, freeze your bank accounts, put a lien on your property. Credit Solutions can't protect you. You need to get out before Credit Solutions drains any more money out of your account, you could have used to pay your bills.
Get out while you still can. Demand a refund or threaten a law suite and/or threaten BBB and Federal Trade Commision complaints..
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6. Written by kellyp, on 28-07-2008 04:07
is it too late to cancel if we signed on the 24th (Thursday) and it's Monday? It says 3 days, but I thought it was legally 3 BUSINESS days, which would be today (Monday) the 28th. Please let me know asap so I can fax this cancellation in. I'm scared after reading all these complaints against them. email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
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7. Written by Anon, on 26-07-2008 11:37
I used to work for this company in the sales department. I quit for moral reasons when i figured out that they pretty much do nothing to protect consumers. Debt Settlement is a great industry but there are so many people out there scamming it is hard to know who you can trust. Doug Van Arsdale the CEO of credit solutions is being investigated by the FBI and has class action law suits mounting up against him. He also owns lending.com. lending was going to go Bankrupt and he borrowed 9 Million to get it out and then filed chapter 11 2 weeks later the guy is a theif and you should do everything you can to get out and then sign up with a settlement company that has a law firm based settlement department. There is so much negative about CSA that i can't even begin to describe but just know you need to put a stop payment to to them on your checking account and get a good settlement company to help you. BTW Doug has started a new company called rescue debt, dont get involved with them either. Also as far as the tax thing goes the way that works is you may have to pay income tax on any debt settled more than $600 in savings. If you got moved into a higher tax bracket you were teetering on the line anyways. Taxes are on what you SAVE. In other words if you get help from a settlement company that practices good ethics who cares if you have to pay taxes on the 10 grand you saved.... so then you saved what like 8-9 grand.
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8. Written by KATHYB53, on 23-07-2008 19:00
This happened to us with these idiots, also. I forgot to include this in my review posted here yesterday. We ended up having to borrow money to pay our taxes and now we have to pay THAT back.
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9. Written by jose, on 19-07-2008 00:30
Yeah unfortunatly I work there. They tell us to not mention anything to customers about the 1099-c form to file with your taxes. You are still responsible for that amount if its over $600. Oh my god i hate working at that place! I'm putting in my two week notice here in about a week. I'm making a list of clients in the hundreds and plan on sending alot of emails to people to cancel out before its too late. I hate that place more than anything!
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