8880 Rio San Diego Dr.San Diego, CA

Out of Business

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Consumer Complaints and Reviews


I paid close to $5,000 to Debtco, Inc. on Mission Gorge in San Diego, CA to negotiate with my creditors. But after paying the upfront fee to Debtco, we continued to pay approximately $200/month to them over a period of two years to put into an escrow/savings account--so that when they settled with a debtor, the money would be in our account with them to pay the debtor off. We continued to pay, received monthly statements, then suddenly, they fell off the face of the earth and apparently were bought out or changed their name.

We continued to send money, then finally stopped, when we stopped getting correspondence or phone calls. No debts were ever settled and we still have approximately $5,000 in a holding account with them for payment of debts. We tried to locate them for a while, to no avail. I have finally located them, still in San Diego, but at a different address. I have emailed the director but there was no response. I have settled the debts myself over a period of time, personally, and we are wanting our escrow money returned, since it is such a large amount. I am not able to get anywhere at this point but will be consulting a lawyer next week to know my rights in getting my money back.


It has been eight years since Debtco, Inc. made the last settlement in 2002, I believe in August. I have been searching for this company since the last company that was settled (August 2002) has showed up on my credit report as still owing money of $815.00. I did have paperwork from Debtco showing this as settled prior to a flooded basement and move, but this is almost eight years later. I found paperwork files for all but this debt, but know that it was settled to my knowledge and belief. Now this comes up almost eight years later with no notice from the retailer that there was still a debt owed other than what showed up on recent credit report from one creditor and then they have sold it to a third party saying I owed $1388.23 with a letter dated 5/6/2010. They want me to send them half, $694.12, by June 5 or have to pay the full amount with interest. I found the cease and desist order in California regarding Debtco and customer complaints recently. Now I can not get a copy of the settlement and I am contacting an attorney for legal advice, but I have also contacted my state attorney general filing a complaint against the retailer and collection agency.

I am hoping the time barred factor of seven years and the fact no one other than this collection agency has contacted me. I can not believe all this is happening at this late date. I see others have had complaints about Debtco, Inc. and now I am wondering if the paperwork for all my other settlements are valid. Are these settlements legally registered other than the companies and individuals for proof of settlement? At 63 and retired, this is not something I expected.


I'm tired of these so called company emailing, phoning and leaving messages. I've had it! I just want them all to stop. I take exception for the reason I have perfect credit and have done all the right things to keep it that way. What recourse if any do I have to stop all this garbage from entering my world? I believe what they're doing is a scam anyhow. Putting them out of business would be a good thing. Then the weasels would stop calling and I'd feel what debt relief really means! No more junk mail, no more emails, no more phone calls; ah, my world just got a little less stressful. Thanks for reading this.


I signed a contract with Debtco in 2003 to settle 8 outstanding debts with a goal to be debt free in an estimated 36 months. Only 2 of the 8 outstanding debts I had were settled by this company over 5 years. Debtco closed and Acushield took over as the servicing agent for Debtco. In July 2008, I terminated my contract and requested that the remaining set aside balance of $12,169.66 be returned to me.

My contract states that Debtco agreed to return any unused set aside funds within 30 days. My money was not returned and I sought out Nicolas de Segonzac, President of AcuShield to settle this claim. I spoke with Nicolas by phone and mail and he stated that he would send a check of $801.66 as a good faith deposit with two monthly remaining payments of $5,684 to be mailed to me. I received a check for $801.66 but am still awaiting the balance of the settlement, $11,368.00. Upon further attempts to contact Nicolas or anyone in these companies, I have only found disconnected phone numbers and voicemails stating that the above companies have closed.

I have been unable to close these remaining outstanding debts and therefore have had to move out of my apartment. My wife, my one year old daughter and myself have had to move in with my in-laws. I'm unable to purchase a home for my family simply because I tried to pay off my debt.


I signed up with Debtco in 2002. A few years later, I was notified that they had become Acu-Shield Financial. I've been satisfied up until now (Apr. 2008) as they successfully settled all but one of my accounts. My last account went to a Debt Dismissal program and I heard nothing for months. When I called for a status, I got the run around until I used the word attorney.

I was finally connected to a paralegal who faxed my letter of completion for the program and promised to update me on when I could expect the remaining funds in my account to be returned to me. That didn't happen.

I have been calling and raising heck since December 2007 and, at this rate, it appears I will never see my $3,446.00 that is due to be returned to me from the funds I set aside for negotiations and fees.

This has been the most FRUSTRATING issue to deal with. As I typed earlier, I was very pleased with them until my account was handed over to the Debt Dismissal program and I was given the run around on having my remaining funds returned to me.

I have needed that $3,346 for months now. I have a wedding and honeymoon to help pay for as well as other bills to pay. I have never had such emotional frustration trying to deal with a company in my life!

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I contacted DEBTCO in 2004 to help with my multiple debts, and stop collection calls. I agreed to start a draft of $250 a month to be applied towards my debts and fees for DEBTCO. The drafts went on for over a year. However my creditors were still calling, and had not heard from DEBTCO. After a year and a half I cancel DEBTCO, and requested my money back. They advised I should send a fax requesting all money back. This was about 5 months ago, and I have not received any money back, or have any creditors been paid or negotiated with.

I have lost more than a thousand dollars, and may have to file BR.


I paid $800 to the company to negotiate with my creditors, but I found out that they didn't do anything because the creditors are still proceeding to court and keep harassing me on the phone. I told them that I already asked Debtco to handle it, but they called me back saying they didn't receive a response. I then sent a letter to terminate the service from Debtco and asked for my money back, but they sent me back a letter for confirmation of the termination of the service but refused to return my money.

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