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Introduction
If you’re looking to reduce your credit card debt, a company called Credit National Assist may be able to help. But be aware that they aren’t regulated by the Better Business Bureau or state authorities and have been accused of using high-pressure sales tactics on consumers over the phone. Let’s read more about Credit National Assist.
A company called Credit National Assist may claim to reduce credit card debts by 75% or more, but beware of their sales tactics.
A company called Credit National Assist may claim to reduce credit card debts by 75% or more, but beware of their sales tactics.
CNA is a debt settlement company that’s owned by Debt Busters, Inc., which also owns the Debt Busters name and website. CNA claims to help consumers who have been turned down for loans by banks and credit card companies through its online service called. Let’s read more about Credit National Assist.
“Credit National Assistant.” The company charges fees of up to $1,000 per month plus interest payments on top of any amount owed (just like all other credit card companies). You can find out if you qualify for CNA’s services by filling out this form: [link]. However, there are many warning signs that should make you wary of this company:
CNA appears to be owned by Debt Busters, Inc., a Florida-based collection agency.
CNA appears to be owned by Debt Busters, Inc., a Florida-based collection agency. Debt Busters is not a law firm and does not provide legal advice in any capacity. CNA has been accused of engaging in deceptive practices on behalf of certain creditors by falsely claiming that it can negotiate with credit card companies on their behalf and then charging fees for this service (e.g., $50-$100). Let’s read more about Credit National Assist.
The firm has also been accused of failing to inform consumers that they have the right to dispute any credit card debt on their own. CNA is also alleged to have failed to provide adequate information about its services and fees, as well as the legal rights that are available to consumers who are being sued by creditors.
CNA’s salespeople may use high-pressure tactics to get consumers to sign up for their services over the phone.
Credit National Assist’s salespeople may use high-pressure tactics to get consumers to sign up for their services over the phone. They could claim that they are calling from a different company or say they are calling on behalf of a friend or family member. Let’s read more about Credit National Assist.
The salesperson might try to get a consumer to purchase their service by saying that it is free. They may also tell consumers that they can cancel the service at any time—but this isn’t true.
CNA charges a fee of $1,000-$1,500 plus 6% of the debt they settle on your behalf.
CNA charges a fee of $1,000-$1,500 plus 6% of the debt they settle on your behalf. This means that if you owe $10k and they settle it for you for $8k, CNA will charge you $800 in fees (6% x 8 = 64 cents). Let’s read more about Credit National Assist.
If your balance is more than $15k then they can only settle up to 50% but no more than $5K based on their calculations.
CNA will also charge you a fee of $1,500 if they are unable to settle your debt. Generally, they will only do this if the collector has already reduced the amount you owe by 50% or more. This means that if your balance is $5k and they reduce it by 50%, then
CNA is under investigation by the Better Business Bureau for its practices.
The Better Business Bureau has received more than 200 complaints against CNA. In some cases, consumers who have paid the premium service fee have been charged additional fees or had their deposits refunded by CNA. Let’s read more about Credit National Assist.
The Florida Attorney General’s Office has also investigated CNA and found that it violated state consumer protection laws in at least two instances (the company paid a $5 million fine).
CNA is under investigation by the Federal Trade Commission as well as other agencies and agencies throughout the country.
In addition, the Better Business Bureau has received more than 200 complaints against CNA. In some cases, consumers who have paid the premium service fee have been charged additional fees or had their deposits refunded by CNA. The Florida Attorney General’s Office has also investigated CNA and found that it violated state consumer protection laws in at least two instances (the company paid a $5 million fine).
Before signing up with any debt settlement company, look into its history and read consumer reviews as well as reports from state and federal agencies.
Before signing up with any debt settlement company, look into its history and read consumer reviews as well as reports from state and federal agencies.
You can find these details by checking the company’s website or contacting them directly through a phone number listed on their site. You should also check their BBB rating; if they have an A+, B+ or so forth, ensure that this rating is legitimate. You also want to make sure that there aren’t any complaints about the company with any of these organizations
(the Better Business Bureau of Southern California has a good resource for finding this information). Finally, if there are any complaints filed with your state’s attorney general office or another agency similar to it—such as the Federal Trade Commission—you’ll want to take note of those too before signing up for anything! Check out kelly mcginnis 2022.
Conclusion
It’s important to remember that there are many legitimate debt settlement companies out there. CNA is one of them, but it’s no secret that the five-star reviews on their website come from paid clients who have been tricked into paying large fees up front. If you want to find a better option, you should research your options thoroughly before making any decisions!
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