The American Debt Foundation cannot get consumers out of debt because the company is already out of business as of 2015, according to the Better Business Bureau. The company was not BBB accredited, and it received a BBB rating of F, which is the lowest rating on the scale.
BBB gave a low rating to the American Debt Foundation due to the company’s failure to address 14 complaints filed against the firm, states the BBB. Four complaints were related to billing and collection issues, while the other 12 complaints were about problems with the company’s services. BBB confirmed that American Debt Foundation is out of business due to disconnected phones and return mail.
A customer stated that American Debt Foundation was a scam that led him into a worse financial situation, according to RipOff Report. The company gave him an unrealistic good faith estimate and kept swindling money from him for three years. The firm said that all his escrow funds were used to pay for various fees.
American Debt Foundation offered debt relief through a debt settlement program that lasted three to five years, as posted on RipOff Report. The program enabled consumers to pay less than 50 percent of the balance owed, including late fees, interest charges and the firm’s service fees.