Credit Foundation of America ratings, reviews and complaints - Credit Counseling and Management Services Non-Profit

Complaints and Resolutions

Complaint Experience

N/A

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Complainants allege unauthorized bank debits, late payments to creditors, no contact with creditors, declining credit scores and an inability to reach the company. Customers complain the company asks for credit card or bank account numbers, and are told the initial deposits will not be deducted until the contract is signed. Complainants report their accounts are charged without their authorization or knowledge, causing added financial distress due to bank overdraft charges. Others complain that the company fails to contact their creditors, even though the company debits their accounts monthly. A few customers complain of receiving repeated unsolicited phone calls from the company offering debt relief.

The company responds to some complaints by issuing full or parital refunds, cancelling accounts, or by claiming they have received verbal authorization from customers to debit accounts. The company generally disputes allegations that they fail to pay or contact creditors. In some cases, the company explains that it informs customers that it may take up to 90 days to get creditors to agree to a plan. They contend that they have abided by the terms of their client agreement. The company replies to solicitation complaints by removing the customer's information from their database.

Our complaint services are free and our team of expert mediators will assist in resolving complaints with businesses.

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Complaint Closing Statistics

0 complaints against Credit Foundation of America closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
0	Unanswered

Other Information

Company Info

This company's business is providing credit consulting services.

Primary Contact:	Anthony Cara (President)
Business Started:	8/8/2002
Social:

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Licensing

Nonprofit credit counselors are exempt from the licensing requirement for companies performing similar services if, among the other requirements for exemption, they maintain a $25,000 bond with the Commissioner of Business Oversight.

You may verify bonding by calling the California Department of Business Oversight at (213) 576-7500 or visiting their website at http://www.dbo.ca.gov.

For businesses outside of California, please check with the agency that regulates this industry.

Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

Credit counselors perform services that include education and counseling and debt management, whereby they collect money from you and make monthly payments to your creditors. Credit counseling organizations are nonprofit organizations and are, therefore, exempt from the provisions, including licensing, that would otherwise apply. They are subject to limitations on what they can charge you. Those fees include a one-time sum not to exceed $50 for education and counseling. In addition, charges cannot exceed, 8% of the money disbursed monthly or $35 per month, whichever is less. For example, if they make payments to your creditors of $300 in a month and may charge only the lesser of 8 percent or $35, their charge could be no more than $24.

Debtors may not realize that if their creditors do accept a negotiated settlement, the amount forgiven constitutes taxable income.

Other Considerations

We know of no other matter or practice relating to this company that may assist you in your consideration of this company.

Industry Resources

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Additional Info

DBAs:
There are no additional DBAs.

Websites:

http://www.cfofamerica.org

Contacts:

Don Gordon (Manager Dispute Resolutions)

Jerry Morris (Director)

Todd Rodriguez (Officer)

Walter Villaume (Officer )

Addresses:

25 A Technology Drive Suite 200, Irvine, CA, 92618

23101 Lake Center Drive Ste 110, Lake Forest, CA, 92630

Reputation Report

Credit Foundation of America

Complaints and Resolutions

Other Information