P.O. Box 710097
San Diego, CA 92171
Other Business Names: USFM
Summary of Business: Debt Settlement, Consumer and Busines Debt Management, and debt reduction services.
Number of BBB Complaints as of 6/17/08: 84
Members of BBB: No
BBB Profile
Business Start Date: October 2007
Number of Employees: 2
Trade Organization Memberships: Dun and Bradstreet, NetCheck, San Diego Regional Chamber of Commerce, U.S.O.B.A
Note: US Financial Management published a rebuttal article to the unfavorable rating that the Better Business Bureau (BBB) gave them in 2005. The idea of the article in general is a great response to see from a company in the debt consolidation industry, but some of the points made by the Better Business Bureau may have held some water in their legitimacy. For example, USFM had several complaints on the BBB from consumers, and United States Financial Management's defense for this fact centered around the fact that they grew too fast and could not assist all the clients that they wanted to, leaving some neglected. It is an underestimated factor how much the role of responsibility impacts company growth, especially in the young stages of this developing industry. United States Financial Management recieved an "unsatisfactory" rating by the BBB because they declared that USFM's consumers: 1. Do not seem to have a clear understanding of the procedures by which USFM services are provided. 2. Consumers do not seem to understand that USFM does not pay creditors immediately, but rather allows the consumer's deposit account to build funds for several months before the negotiations with their creditors begin. 3. Do not understand that their credit rating may be adversely affected because their bills are not being paid. 4. Several consumers have been met with lawsuits and wage garnishments. USFM believes these allegations to be untrue and inaccurate, and thus, the BBB has placed this company's report is under review. If you are a representative from this company and would like to have any information updated or completed, please contact
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Fees
What is the total fee for the program?
The fee is based on a percentage that depends on the amount owed and the estimated program length
Over how many months is the fee paid?
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Do you have a set up fee?
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Do you have a money back guarantee?
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Do you charge a fee based on how much I save?
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Eligibility
What type of debt do you work with?
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What is the minimum total unsecured debt one must have in order to qualify?
$7,500
Does a client need to include all of their unsecured debt in the plan?
N/A
Services
Do you do the negotiations yourselves?
N/A
If not, who is the company you use for negotiations?
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Creditor Calls
Do you send a Power of Attorney to notify the creditors that a client is enrolled in your program right away?
N/A
Do you send a Cease & Desist letter to my creditors?
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Can I change my phone number & address to your company�s phone number and address?
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Do you have a consumer advocacy group help me with calls?
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