A search of the Better Business Bureau's consumer website brings up three businesses that use the name Superior Debt Solutions. Two of them had F ratings while one---Superior Debt Solutions, aka Stone Mountain Group, and the focus of this article---had a B+ rating.
Superior Debt Solutions' Services
Superior Debt Solutions---also called Superior Debt Relief Services---negotiates with clients' creditors to reduce amounts owed on unsecured debts. Once a client agrees to a plan, a representative contacts creditors and a settlement account is established.
Process
Clients pay into the settlement account each month and stop paying their credit card bills. After approximately six months, a representative from Superior Debt Solutions contacts creditors and attempts to broker a settlement.
When clients stop paying their credit card bills as part of this program, creditors can contact them directly, send their accounts into collections and sue them.
Promises/Claims
Superior Debt Solutions claims that clients who join their program will become debt-free sooner, face fewer creditor phone calls and avoid the stigma of filing bankruptcy.
Better Business Bureau Rating
Superior Debt Solutions is not accredited by the Better Business Bureau, but has a B+ rating. In March 2010, BBB reported that three complaints had been made about Superior Debt Solutions over the past 36 months.
Other Potential Options
People with more credit card debt than they can afford to repay can negotiate directly with their creditors or visit an accredited nonprofit credit counseling agency for help.
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