Credit Partnership complaints

Complaint Experience

N/A

BCA's Summary and Analysis:

Complainants generally allege that they paid for debt negotiation services but the company failed to negotiate debt settlements or reduce their debt. Complainants allege the company has been debiting their checking or savings accounts on a monthly basis, some since 2003, to allow a settlement fund to build up. Complainants report the company was supposed to use this fund to negotiate settlements with their creditors after a sufficient amount of money has built up in their account. However, complainants report no settlements were made to their creditors and they were continually told the company had to wait until additional money was in the account in order to make an offer. Other complainants report the company's website is no longer operational and phone numbers are disconnected. One customer complained that their creditor is suing them for failure to pay.

The company responds to one complaint by stating that the creditor that is suing her had already placed the account with an attorney before she joined the program and they explained the urgency in funding her program to avoid possible lawsuit. To the other complaint, the company states they can cancel the program but there is a minimum fee which shall not be waived due to all the work done on the account. Company states they do lump sum settlements and they make those settlements once sufficient funds were in your account and vested. They attempted to settle some smaller accounts at the clients request but the creditors were offering poor terms and they did not want to settle for those terms. The company further claims to have a 50% settlement offer by one of the creditors but the client indicated they wished to cancel, but would proceed only if the customer authorized them to do so. All other complaints remain unanswered.

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