Credit Solutions Of America
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Credit Solutions of America (CSA) was an American
debt settlement Debt settlement (also called debt reduction, debt negotiation or debt resolution) is a settlement negotiated with a debtor's unsecured creditor. Commonly, creditors agree to forgive a large part of the debt: perhaps around half, though results ca ...
company based in
Dallas, Texas Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...
. At its peak it had more than 1,200 employees and served more than 250,000 customers. It was established in 2003 and closed down in 2012.


Background

Debt settlement companies negotiate with creditors to accept reduced payments on unsecured debt, like credit cards and
medical debt Medical debt refers to debt incurred by individuals due to health care costs and related expenses, such as an ambulance ride or the cost of visiting a doctor. Medical debt differs from other forms of debt because it is usually incurred acciden ...
. CSA settled more than $1.1 billion of debt from 2003 to 2012, with an average settlement of 45 cents on the dollar. In 2007, the company was recognized by JD Powers and Associates, for excellence in satisfying its customers. CSA had also been certified as ISO 9000:2008 from BSI, which was a result of ongoing company wide audits by an independent third party to ensure quality management systems. The company had a community service group called "CSA Cares," through which employees volunteered over 20,000 hours with
Dallas Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...
/
Fort Worth Fort Worth is a city in the U.S. state of Texas and the county seat of Tarrant County, Texas, Tarrant County, covering nearly into Denton County, Texas, Denton, Johnson County, Texas, Johnson, Parker County, Texas, Parker, and Wise County, Te ...
area
nonprofit A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, not-for-profit organization, or simply a nonprofit, is a non-governmental (private) legal entity organized and operated for a collective, public, or so ...
organizations. A March 2010,
CBS CBS Broadcasting Inc., commonly shortened to CBS (an abbreviation of its original name, Columbia Broadcasting System), is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainme ...
'' Early Show'' story on the debt settlement industry criticized Credit Solutions of America's business practices, and provided consumer advice for debt settlement counseling.


References

{{Reflist Financial services companies of the United States American companies established in 2003 Financial services companies established in 2003 Companies based in Dallas 2003 establishments in Texas 2003 establishments in the United States