CreditGuard of America was founded in 1991. It aims at helping its consumers in eliminating their credit card debts. The company houses certified credit counselors and has a good tracking record. CreditGuard of America also offers a limited money back guarantee, a feature not common in the debt consolidation industry. However, the company does have some issues with transparency in pricing and lacks some important industry accreditations.
Similar to many other companies in the business, Creditguard of America offers a free consultation over the phone with their certified credit counselors. The counselor also determines which program, if any, would best fit the needs of the consumer. The company has been operating since the 90’s and has maintained a good tracking record so far. Upon researching their reviews, we found that many customers have admired their customer service to be very responsive and friendly. The company is ISO 9001 certified which means that it is regularly audited to maintain the legitimacy standards. Unlike many other companies in the business, CreditGuard of America has stated on its website the disadvantages that are associated with debt consolidation services. The company also offers several resources and tools to improve the consumers understanding of financial management.
As for the drawbacks of this company, the one that concerns us the most is the lack of transparency regarding their pricing. On the company’s website, there is no information regarding their upfront fees, monthly pricing, and average interest rates. This is a major setback as it leaves the potential consumers in a bad position to determine whether they should enroll with this company. Although the company is ISO 9001 certified, it does lack some key industry accreditations such as NFCC and AICCCA, which is unusual considering the long time the company has been in business. Moreover, many consumers have reported hidden recurring fees which they weren’t aware of while enrolling with the company. This aspect greatly affects the credibility and reputation of the company. Also, it seems the company is not making any serious efforts to resolve the issues reported by consumers.