BBB Exhibits Unfair Practices Against the Debt Settlement Industry

Article Source: http://www.debt-settlement-america.com/research/BetterBusinessBureau/BBBUnfairPractices/

BBB Exhibits Unfair Practices Against the Debt Settlement Industry

DSA’s Response to BBB Rating

DSA, as well as the entire debt settlement industry, faces significant negative reviews from the BBB, so DSA provides this information as a response to questions about our BBB rating.

The national BBB has decided to universally dock rating points for all debt settlement companies based on an “industry rating” that would result in all debt settlement companies being rated a D or F (there being no “E” rating). In other words, the BBB has decided any company in this industry can receive a rating no higher than a D.

However, each local BBB franchise must

1. adopt this rating system,

2. recognize that the company as being in the debt settlement industry, and

3. apply the new rating system to the company. Because local BBB franchises

sometimes fail to do all three of these items, purposefully or not, some

debt settlement companies escape the negative review/rating.

DSA’s President, Chris Kesterson wrote a letter to the national BBB as President of TASC addressing the inequity of the rating system applied to the debt settlement industry. A full copy of the letter is available for your reference. Read More

The main points of the letter are:

1. The rating system fails to consider each individual companies merits or

faults;

2. The ratings system is a disservice to consumers since bad companies

are now indistinguishable from good;

3. The BBB fails to recognize that consumers who cannot afford credit

counseling or qualify for bankruptcy have a need for debt

settlement services; and

4. Debt settlement works and is appropriate for many consumers.

We hope you will consider your experience with DSA to date and the extensive consult we did with you before you enrolled as evidence of our service commitment to you. Per the Mr. Kesterson’s letter and the information provided in the links below, unfortunately the BBB is not a reliable source with which to judge a debt settlement company.

Below are several third party articles about the BBB, its reliability, and its recent ratings system change for your reference:

1.    an article about how a number of BBB franchises that are refusing to use the new rating system as unfair; Read Story

2.    an article about the BBB’s “pay to play” system of giving better grades for companies that pay for membership; Read Story

3.    an article regarding the BBB’s rating of debt settlement companies; Read Story

4.    an blog from a debt/credit reporter about the BBB’s rating of debt settlement companies. Read Story

5.    a website that analyzes the BBB’s operations and ratings system. Read Story