Good morning debtfree and welcome to Just Answer!
These types of companies are a dime a dozen and the majority of them do very little to help, and quite often actually make your situation worse. After doing a little research on the company you have mentioned above they seem to be a legitimate business, but I would be very skeptical to use them. There are typo's on their Web site, none of the links on the bottom of the site work properly, and they make no mention on their site about how much they charge, or how their fees work. I am always very skeptical to recommend any of these companies to a user. With that all said, this does not mean the company is not legitimate. The company does appear to be registered with the state of Kansas and in good standing, although the addresses do not appear to match up which does give reason for some concern as well. This type of business should be register with the BBB because this type of industry has a lot of complaints and this is one way to show they are an honest company. In this type of industry, many of these businesses have many, many unsatisfied customers and this unhappiness is generally posted in many places online. I am having a hard time finding a lot of negative information on this company which is a good thing.
Below are links to a few places which mention this company:http://research.lawyers.com/ask-a-lawyer/RUN-7622.htmlhttp://www.bbb.org/wichita/business-reviews/debt-negotiation-companies/financial-solutions-network-in-wichita-ks-15814http://www.accesskansas.org/srv-corporations/getRecord.do?number=6284152
Therefore, while I am not advocating this company in any way, I also can not find any solid evidence to say they are not legitimate either. Any company stating you can stop making payments immediately is also another red flag because this generally puts consumers into a worse situation. If you would like to pursue working with this company ask them lots of questions before getting involved. Questions such as: 1. How much do you charge (are there monthly fees, setup fees, etc...)? 2. How does the process work? 3. Will you pay money to them monthly or directly to your creditors? 4. Will your first payment go completely to them or your creditors? 5. How long until money begins going to your creditors? 6. Do they offer a money back guarantee? 7. Will I have a formal written agreement or contract with you? If they are unable to answer any of the questions then I would highly recommend not using them. My opinion is to find another company to work with
. If you need help finding a debt management/credit repair/credit management type company you can contact the FTC at 1-877-FTC-HELP
Here are a few links worth reading:
Finally, here are some tips directly from the FTC's Web site:
Tip-offs to Rip-offs
Steer clear of debt negotiation companies that:
- guarantee they can remove your unsecured debt
- promise that unsecured debts can be paid off with pennies on the dollar
- require substantial monthly service fees
- demand payment of a percentage of savings
- tell you to stop making payments to or communicating with your creditors
- require you to make monthly payments to them, rather than with your creditor
- claim that creditors never sue consumers for non-payment of unsecured debt
- promise that using their system will have no negative impact on your credit report
- claim that they can remove accurate negative information from your credit report.