Debt Professionals of America

Debt Professionals of America (DPA) is a Texas-based debt settlement company, in business for 10 years, and claiming settlements of over $26m in unsecured debt for approximately $11m, an average saving of 43%. 

DPA has a very professional-looking web presence. It is immediately apparent when viewing their web page, that credibility and transparency were important objectives in establishing their on-line interface with the consumer. 

In a couple of mouse clicks the following information was readily available: 

Contact Information 

A toll free phone and fax number as well as a local fax Street address (adds credibility) Hours of operation Online chat facility and feedback mechanism    

Company details 

Mission statement, code of ethics and core values Operational highlights Memberships of professional organizations Profiles and photos of the management team    

Client Services and Program details 

Options available to clients including a debt comparison calculator Benefits of their program Client Assurance Program including a guarantee that clients will receive C.A.R.E. (Clients Always Receive Excellence)    

As could be expected, there were several testimonials from clients who were obviously satisfied with the service they had received. 

Under the FAQ tab were detailed answers to questions which would allay most concerns, but under the same tab, the page headed “BBB” made interesting reading. As if to pre-empt any search for information at the Better Business Bureau, the web page asks the question “Why doesn’t the BBB recognize the debt settlement industry”? It then goes on to say that the BBB “has not implemented a rating system for the industry based on consumer feedback.” 

This whole page is interesting, particularly since a search of the Better Business Bureau for information on Debt Professionals of America gives the company an F on a scale from A+ to F. 

Reasons for Rating given by BBB 

Concerns with the debt settlement industry Length of time the business has been operating 10 complaints on file against the business.    

These 10 complaints were processed in the last 3 years, with all 10 of them being resolved, 8 of them in the last year. 

To give DPA an F rating seems harsh, given that the BBB does not recognize the debt settlement industry. Because the BBB rating system does not review debt settlement companies on their own merits, any debt settlement company that has implemented industry best practice, as DPA claims, cannot be differentiated from one that does not. 

DPA has been operating for 10 years, according to their web site. This is a reasonable amount of time for a company to develop some positive history that would give it a better rating than an F. Regarding the complaints, without knowing the number of transactions the company undertook in the last 3 years, it’s impossible to gauge if 10 complaints are a little or a lot. 

If only half the information on the DPA web page is true, it still seems like a company that could be given the benefit of the doubt by the consumer.

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Tags: America, Debt Professionals   Posted in Debt Consolidation