Consumer complaint received 2024-03-01
Product: Debt or credit management — Debt settlement
Issue: Didn't provide services promised — 
Company: Americor Funding, LLC (IN)

In XX/XX/XXXX, received a solicitation for a debt reduction loan from Credit9. Upon my application, I was informed that the first step in obtaining that loan is to sign up for their debt settlement program through a company called Americor. I signed up for their program XX/XX/XXXX. 

Their program- as it was presented to me by their salesperson XXXX XXXX- would involve Americor contacting my creditors on my behalf in an effort to negotiate and reduce outstanding balances ; then, through a monthly payment I would make into a 'trust account ', Americor would pay any settlements secured with those creditors and, over the course of a few years, I would be completely debt-free with each creditor while paying much less in both balance and interest. 

Sadly, I learned over the next several months that nearly all the information given to me by XXXX XXXX to induce me into signing up for their program was false : # 1 ) I was told after 6 months in their program I could apply for their consolidation loan ; After spending 9 months in their program, they never made me an offer for such a loan - when I brought this to their attention, their response was : Oops, sorry you were told that, but that's not how it works here. 

# 2 ) I was told they would negotiate settlements with my creditors, but they did not. Over the course of 9 months I provided them with every correspondence I received from every creditor ( many of which asked me to contact them to discuss either alternative payment arrangements or even to discuss lowering my balances ) ; after 9 months in the program, Americor only communicated with 2 out of 14 listed creditors - and I learned this by contacting the actual creditors themselves, who told me no one from Americor had ever contacted them to discuss my account/debt with any of them # 3 ) Americor provides zero ability to contact, chat, communicate or email with their settlement negotiators who are working on your behalf. There is no way to verify what exactly is being communicated to my creditors, why they were not contacting 12 of my 14 creditors to even commence negotiations, or to learn how I could help them expedite their process. There is no way to actually communicate with their team responsible for executing the terms of their agreement with me. 

# 4 ) After having enough of their nonsense, on XX/XX/XXXX I cancelled their program. This required both an email notification AND a live phone conversation with one of their agents ( they make it extremely difficult to know exactly how to cancel ). Their agent repeatedly tried to convince me to remain in their program, but I was adamant and ultimately he agreed to let me cancel, sending me an email that as of XX/XX/XXXX I was cancelled from the program and they would refund me the existing balance in my trust account. That's when things got... interesting. 

On XX/XX/XXXX I received a call from XXXX at Americor who asked why I had not made my scheduled monthly deposit into my trust account ; I informed her I had cancelled and was waiting on the refund of my trust account balance. She acknowledged this and the call was ended. 

After the call ended, XXXX - without my consent - REVERSED my program cancellation and RE-ENROLLED me back into their program ( I only learned about it from an email I received on XX/XX/XXXX from Americor that WELCOMED me back into their program and that directly referenced my call with XXXX as the source ). Unbelievable!!!!! 

Furious, I immediately contacted them by phone to inform them I did NOT re-enroll and XXXX XXXX  efforts to do so were both unauthorized and fraudulent, and then demanded they shut my account down and immediately refund me not just my trust account balance but also the fees I paid for their program. 

On XX/XX/XXXX, I posted a review of my experience on XXXX  ; Americor responded with a detailed apology acknowledging AND admitting to everything I just outlined above ; then asked that I contact their president to discuss a resolution. I sent an email to the address they provided on XX/XX/XXXX. 

As of XXXX, I have received no communication of any kind from Americor. None. Zero. 

Considering the vast paper trail regarding the above-listed events, coupled with Americor 's public apology and acknowledgment said events took place as I've outlined while still evading communication and refunding me, I strongly believe this company is deliberately committing fraud on multiple levels and should aggressively be investigated.