In recent months, we’ve seen many regulators and legal authorities in jurisdictions across the country signify official concern that an increasing number of companies which operate in the debt cures business today, are essentially debt relief scam operations that are out to cheat and dupe an overburdened debt-ridden population in a bad national economy. The most recent among those, is Attorney General Andrew Cuomo in New York, whose office had subpoenaed some 14 debt relief operations and one law firm in May 2009 from across the nation for investigations into their debt settlement operations.

Recent Major Debt Relief Scam Investigation by Online Review Organization

Quite coincidentally, that subject is, in fact, actually the subject matter of a recent full scale major independent investigation of the industry conducted by one reputable, independent online review organization that investigates online products and services or companies, especially in the debt cures business field, for their quality and authenticity. The results of that investigation is startling, showing that some 82.5% of the test sample group of website-based debt relief operations used (165 out of 200), were basically debt relief SCAMS. And that only 17.5 of them were of any legitimacy. There are some 12 companies nationally which the evaluations showed were of great quality, and one company that is of exceptional quality and rank exceptionally superior as the most trustworthy, and Number #1 debt relief company in America.

In its report of the findings of its investigations team just released in New York in mid May 2009, the Research division Director of the online research organization (see the link provided below at end of this article), stated that the review was prompted by the fact that,

“Consumers seem more and more today to be turning to debt relief operations for ways to pay off debts in response to the current American economic recession… most of those companies are competing to out do each other in their claims that they have the best debt relief programs. In constant advertisements on the Internet, radio and TV, they purport to provide excellence and the best services to customers on ways to pay off debts… Consequently, finding a truly good debt settlement company by a consumer under such circumstances, is not at all an easy task.”

The report adds, “With so many companies out there, they all soon start looking and sounding alike after a while, as are their TV, radio, and newspaper ads. So, how in the world can the average person tell what are good debt relief companies from the bad ones or the debt relief scams?”

The Major Findings of the Investigation

Basically, using the rigorous evaluation and ranking system devised by its review experts, called the “Key Debt Relief Evaluation Criteria” or KDREC, the review team scored and ranked 12 debt relief companies from across the country as ranking as the TOP DOZEN Online debt relief companies in the industry having the highest levels of professionalism, reliability and credibility in the critical criteria areas of evaluation for the industry — accreditation by the Bureau of Better Business and by recognized certification institution for the debt relief industry, professional reputation, charges and cost of service to consumer, results of company background checks on expertise, quality of personnel, personnel education and training, length of time in the industry, past record in the business and in delivery of the services, customer satisfaction, etc.