AmeriCor

Mr*** enrolled with us 12-16-When he enrolled he agreed he could afford a monthly payment in to his trust account (that we can not touch) of $per monthThose funds are to accumulate for the purposes of settling his accountsHe was enrolled into a month, with credit cards
We state in our contract that a client should experience their first settlement between month 4-Americor has done settlements for Mr***The first settlement at month 5, second at month 7, the third at month and the fourth at month These settlements averaged 51%So out the debts he enrolled we have settled of them in months and he still had months left to complete the programAmericor needs all of the of those months for Mr*** save enough funds to resolve ALL of the debtsWe were only given months, hence why we had only settled debtsIn regards to the lawsuit, (which we disclose can happen) with American ExpressAccording to our notes on the file; Mr*** admitted he received notice directly of the lawsuit many months prior to August back in April of Mr*** did not notify or provide documentation to us until 8-8-He did not respond to the summons he had received months earlier and we were not made aware of itWhen you do not respond to a summons, the creditor will obtain a judgment, then garnishments can and will happen So by the time Americor received the documentation (months later) it was too lateIf Americor was informed when this was received we could have negotiated this debt right awayAmericor again was not given the opportunity to help Mr***On Sept 4th Mr*** notified us that he wanted to suspend the program for a while because he was waiting in financial aid to cover his living expensesOnce that was in place he could resume the programMr*** had come to us originally because of a loss of income for years and was just buried in debtIt seems that now he is experiencing additional financial hardships personally that have exacerbated his situation even more and this can be very stressful This could be why he’s looking into BankruptcyRegarding his request a refund for “all funds payed prior to notarization of the contract”; there were $collectedAmericor is performance based and doesn’t get paid a penny until we have settled a debt for the consumerSo, as you can see Americor provided the services as defined by our contractIf Mr*** has the means and wants us to continue working on the remaining accounts we would be more than happy to do so

We have multiple programs for our clientsOn the mail piece it clearly say NOT ALL CONSUMERS WILL QUALIFY FOR A PERSONAL LOANFor consumers that don’t qualify for a loan we offer other productsWe are sorry that this consumer did not qualify for the loanWe will remove them from any further
mailingsIn regards to the decline in his credit score, our pull is a soft pull on credit and does not affect credit scoring at all

A person's credit score can only tell you so much about a their financial situation. So when a consumer is applying for a loan we do need to pull credit and do a budget analysis to determine qualification. We only do what's called a "soft credit pull" for potential...

clients. Soft pulls do not effect and/or ding your credit in any way. So Mr. [redacted] can rest easy knowing that his credit was not effected. Unfortunately, there were some other factors after underwriting reviewed Mr. [redacted] file as to why we were unable to extend him the loan at this time. We would be more than happy to review this with Mr. [redacted] and walk him through how to improve his situation moving forward and get him qualified for a loan in the future.