Credit Solutions of America charged with scheme that defrauded Texans with financial problems

06 Apr Credit Solutions of America charged with scheme that defrauded Texans with financial problems

Texas Attorney General Greg Abbott has charged Credit Solutions of America, Inc. (CSA) with conducting an unlawful scheme that defrauded Texans with financial problems. CSA has allegedly offered Texas consumers a debt settlement service that would elimate the consumer’s unsecured debts such as credit card accounts in approximately a three year time period. The Texas AG’s office discovered that CSA failed to negotiate settlements with creditors for most accounts that customer’s listed in the program. Additionally, when CSA did negotiate settlements with creditors, its clients did not always receive the 60 percent reduction CSA promised them. The Texas AG’s office is seeking an injunction against CSA that will prevent CSA from continuing to unlawfully promise services which it does not deliver.

CSA not only charged its customers for services that were not delivered, but because its debt settlement program required customers to stop making payments to their creditors, many CSA customers found themselves with unforeseen late fees, additional interest, increased collections attempts, and even lawsuits by their creditors.

If you have been defrauded by CSA or any other debt settlement company, you should file a complaint with the Attorney General’s office. You may contact the OAG at 1-800-252-8011 or online at www.texasattorneygeneral.gov.

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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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