Consumer complaint received 2019-01-14
Company: Americor Funding, LLC
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit repair services
Issue: Problem with customer service

Complaint:
I reluctantly signed up for this service after recieving a mail offer ... .the product is very misleading by by giving a consumer the notion that we will recieve a consolidation loan to pay all of our bills off in one shot and we pay a lower payment to this company ... i was originally told that americor does not offer debt settlement and that this is a way to pay off all of your bills and just pay americor a lesser amount than what all of my credit cards amounted to, thus saving me money ... but in the end i find that Americor is just like the rest of the debt consolidation/settlement companies out there that offer to " SETTLE '' on your accounts after they have been charged off for less than what you owe on them..I was directly told my the representative that i talked to Not to pay any more of my credit card payments, EVER!! ..I couldnt believe that he told me that the only way their program works is to stop paying all of my credit card payments so that the chargeoff process will start ... and one by one as the cards charge off, Americor goes in to settle on what you owe each credit card company for less than what you owe on the card..and from the day you sign up with Americor, you are paying a monthly payment to them which is whats used to settle on your accounts ... So in other words, who needs americor or any of these " DEBT SETTLEMENT COMPANIES '' ..because all the things they do, us consumers can do ourselves without paying someone a monthly fee to do it for us ... and it destroys your credit along the way but they promise that your credit will get better in 1-2 years while paying them XXXX or more per month the whole time ... So after having a brainstorm, I decided that i wanted to cancel this program before any funds is taken out of my account towards it and i called in on XXXX 2019 to cancel the account ... I was told by the account specialist that handled my concern that my bank account would not be charged since i had called in before the charge was scheduled to take place and my account was in a " pending cancellation '' status so no charges would come thru ... he also said i would recieve a call to confirm my cancellation within 48 hrs and i couldnt understand why i would get a confirmation call to cancel something that i just cancelled..so i was like ok, whatever ... ... My problem is, my bank account was charged on fri XXXX XXXX anyway and no one ever called me like he said they would ... so on that following monday XX/XX/2019 i called and demanded a refund since i was lied to by the operator when he told me that my bank account wouldnt be charged and it was..I was told again that i have to wait for a call within 48 hrs to confirm my cancellation and i realized that this was a tactic that Americor Financial uses to keep customers onboard by calling them to convince them to stay with the program because when you cancel something, it shouldn't take any company 48hs to confirm your cancellation..its a done deal and you cancel ... well, so far Americor has cause my bank account to be charged an additional XXXX in overfraft fees that i have to pay for because of the dishonest and scam type operation that Americor financial is running here..And im still waiting for my original refund 10 days later ... 

WARNING : STAY AWAY FROM DEBT SETTLEMENT COMPANIES LIKE THIS AND MANY OTHERS THAT SEND YOU THINGS IN THE MAIL THAT LOOKS LIKE YOUR TICKET TO FINANCIAL FREEDOM..ITS ANYTHING BUT FINANCIAL FREEDOM!!! 
CHARGEOFFS ARE NEVER GOOD AND THAT EXACTLY WHAT THIS COMPANY WILL CAUSE TO HAPPEN TO ALL OF YOUR ACCOUNTS..THEY WILL CHARGE OFF BECAUSE THATS WHAT THEY DEPEND ON SO THAT THEY CAN " SETTLE '' YOUR BALANCES..

Company response to consumer: Closed with monetary relief