Received notification thru mail of Balance reduction Notification on credit cards. Estimated total debt with an option to buy out. I think this is a scam until proved wrong.

I also received the flier.  They seem to have personal information regarding some accounts.

Believe it or not, the 3 major Credit Bureaus (Equifax, TransUnion, & Experian) are all more than happy to sell your personal information to anyone willing to pay for it. Insurance companies, mortgage companies, credit card counseling agencies, and various marketing companies are just a handful of the types of companies and individuals who can purchase your personal credit information for a price. These are sometimes referred to as "prescreened" or "firm offer" credit data offers. Basically nothing is off limits. I know because I worked for a major national mortgage company for 10 years and it was my job to purchase people's personal information from the credit bureaus so that we could send them unsolicited sales material based on that information. The truly sickening thing is nothing is off limits for purchase. Your age, residence time, job time, your credit score, your total debt amount including specific types of debts and specific balances, the total monthly payments you make each month, and the types of loans you have recently applied for are just a few examples of the type of personal information any company can buy from the credit bureaus. In order to have the credit bureaus not sell your information you have to "opt out" of marketing offers. To do that you must call 1-888-5-OPTOUT (1-888-567-8688).

You know its difficult enough to get through a financial crisis in the family without these constant letters, e-mails and phone calls. I received 2 of these type letters in the mail one adressed to me and another to my wife. Thank God for the internet and it is my hope that they get theirs

Got a form 009-S3 in the mail today with the same information generally as described above.  I too would like to know how they had any idea as to how much consumer debt I have.  I have no doubt this is some sort of scam masquerading as an offer to assist in debt reduction.  At best, based on the wording, it appears to offer debt settlement services.  Upon doing additional searches on the internet, others have found this to be a solicitation from a company by the name of 'Credit Relief Today' with a mailing PO Box in San Diego, CA, and a physical address in Sacramento, CA. (seesm like a long way to drive to pick up your mail).  Debt settlement is a credit score killing process that takes up to several years to complete.  If that is the road a person chooses to go, make sure you pick a good partner.  I have looked extensively into the process and for the benefit, it just doesn't seem worth it.  I have $30,000 in credit debt and they claim to reduce the average credit card by 50%.  But what they don't tell you is that during the period of time during which you don't pay your bill, it continues to accrue late charges, overbalance fees and interest.  So over the 1- 2 year period you don't pay your bill, the balance, in my case, would grow to $40,000.  So 50% of the amount that gets negotiated would be $40,000, leaving $20,000.  They charge a fee of 15%, so 15% of the original balance of $30,000 is $4,500.  Add that to the $20,000, means you will be paying $24,500.  But another thing they don't tell you is that the amount of debt forgiven becomes taxable income.  The government and the IRS considers a forgiven debt to be income.  The amount of debt forgiven in this example is $20,000, so based on my tax rate (20%), is $4,000.  So now, adding $24,500 and $4,000, is $28,500.  So for all this work and aggravation, I save $1,500???  No thanks, pass.  Pay off your credit cards, live within your means, and NEVER allow yourself to get into bondage again.  Good Luck and God Bless.

got a form 009-S4   Stimulus Act 2009 in the mail with the phone number to call as 1-877-684-7762. and a case number with the amount of my estimated debt.  it said these new programs reduce debt and to reply at this number.    How did they know the amount of my credit card and revolving debt?  The company is a marketing and referrel company.  They do not actually do anything with your debt but refer you to others.  I think it is a scam.  Why would a referrel company need all of your credit info?

So, has anyone figured out if it's a scam????  I got one in the mail too....it only reflects the balance of one or two of my credit cards though.

got a form 009-S4   Stimulus Act 2009 in the mail with the phone number to call as 1-877-684-7762. and a case number with the amount of my estimated debt.  it said these new programs reduce debt and to reply at this number.    How did they know the amount of my credit card and revolving debt?   This is a scam.