Nationwide Asset Services
From Wikipedia, the free encyclopedia
| Industry | Financial services |
|---|---|
| Founded | 2001 in Phoenix, Arizona and Sacramento, California |
| Defunct | May 5, 2015 |
| Headquarters | Phoenix, Arizona and Sacramento, California |
Key people | William Anderson, President;[1] Gary K. Brown, Secretary and Treasurer;[1] Glen P Stewart, President of American Debt Arbitration (affiliate) |
| Products | Debt settlement |
| Website | www |
Nationwide Asset Services was a US-based privately owned debt settlement company based both Phoenix, Arizona and Sacramento, California.[2] The company was also affiliated with several other firms that provide nearly identical services and their own separate websites including American Debt Arbitration, Universal Nationwide and Universal Debt Reduction. The company faced law suites in a number of states which resulted in it being barred from providing debt settlement services in those states. It was shut down in 2015.
Debt settlement companies negotiate with creditors to accept reduced payments. Following the “Nationwide Plan,” the company claimed that a person with $20,000 in debt could pay as little as $14,400 over three years time to eliminate the debt.[3]
In 2010, the Better Business Bureau reports that Nationwide Asset Services and American Debt Arbitration had an “F” rating, the lowest rating given, and that it had received dozens of complaints against the company in the previous 36 months.[4][5]