Top 3 Worst Debt Settlement Companies

This is a tough list to come up with because there are so many new debt settlement companies that are outright scams and treat their customers like ATMs.  But we’ve managed to narrow it down to a few of the big players that dominate the advertising scene and consistently drop the ball when it comes to satisfying their customers.

Please contact us if you feel like you have a company that should be on this list.

1. Credit Answers

Credit Answers is a big outfit based out of Plano Texas that has a BBB rating of F.  Although the BBB is not the beacon of truth it once used to be, it still is a general indicator of a company’s integrity.

Credit Answers is currently running radio ads that claim that because of all the government bailouts of financial firms, you now have a “right to settle your debt for a fraction of what you owe”.  First of all, you don’t really have any rights to demand a settlement.  As a debtor, your only rights are outlined in the Fair Debt Collection Practices Act.

For Credit Answers to mislead consumers into thinking they can automatically get settlements on their huge credit card balances is deceitful, and really will only get Credit Answers into more trouble when they can’t fulfill their customers expectations.

For more information, read our review of Credit Answers.



2. Credit Solutions

Another debt settlement giant out of Texas, Credit Solutions also has an F rating with the Better Business Bureau.  Several reports indicate that Credit Solutions customers are being sued by their creditors and Credit Solutions wasn’t proactive enough to stop it.

They are also involved in  a fraud lawsuit with the Texas Attorney General and the web is littered with complaints about them.  Our opinion is that’s it’s better to go with a smaller company that can offer you more attention and may be able to respond better to your unique circumstances.

For more information, read our review of Credit Solutions.

3. GHS Solutions

GHS Solutions, based out of Florida, is another debt settlement company with an F rating with the BBB. Several complaints have surfaced of customers being sued by creditors and GHS not refunding their money. Being sued by a creditor is ALWAYS a possibility with any debt settlement company you do business with, but this can be stopped in most cases by working closely with the creditor.  Being sued is usually a result of neglect by the debt settlement company.

GHS also has 125 complaints against them with the BBB and charges higher than average  upfront fees.

For more information, read our review of GHS Solutions.

What are some better debt settlement companies? Check out our top recommended debt settlement companies.


  1. Hey Brad,I bet the hardest part of writing this article was trying to narrow it down to just three.  I don’t think the list can be complete though without adding Legal Helpers to the group.  In my opinion they represent everything that is wrong with the industry by continuing to charge a front loaded fee.  Not only are they really hurting their clients by doing this, by fostering an environment for all of these sales people to continue to earn large upfront commissions, they are really making it difficult for companies that are trying to comply with the law to stay in business.In the end, I believe Legal Helpers will be challenged and likely shut down by regulators, I just hope it is sooner rather than later.Please help spread the word to consumers that there are much better financial solutions out there than working with Legal Helpers.

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