Consumers Beware: Mutual Consolidated Savings

Mutual Consolidated Savings, based in Tacoma Washington, is under investigation by the Federal Trade Commission and had its assets frozen this month.

The Company is being sued for aggressively soliciting debt-burdened consumers and charging up-front fees of $690 to $899 while providing little or no assistance in debt negotiation.

The Attorney General Robert McKenna made the following statement:

“Mutual Consolidated Savings has been the source of numerous consumer complaints,” McKenna said. “The Federal Trade Commission’s move to shut down its Tacoma call center means that fewer consumers will be misled by the company’s promises to bail them out of debt.”

The Better Business Bureau has has processed a total of 112 consumer complaints against the company during the past 36 months, which include fraudulent refund policies, contract dispute issues, billing or collection issues, sales practice issues, and difficulty in being removed from the company's call list, among others.

Have you done business with Mutual Consolidated Savings? If so, what was your experience?

Mutual Consolidated Savings
1215 Earnest S Brazill St Ste 33
Tacoma, WA 98405-4005

Ms Rachel Derricks, Service Manager
Phone: (800) 943-3250
Fax: (877) 669-9864