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News : Southfield-based Charity Telemarketing Provider Files for Bankruptcy
April 10, 2014 -- Southfield-based Associated Community Services, a charity telemarketer in the U.S., has filed for Chapter 11 bankruptcy.
The company, which keeps as much as 90% of the money it raises for its not-for-profit clients, has come under fire in various states for some of its phone tactics. In March, for example, the company agreed to a settlement with the Michigan Attorney General’s office for misleading senior citizens in their phone pitches. (The company was accused of 430 violations, but ACS denied any deception, saying that it didn’t target any segment of the population.)
ACS will stay in business.
"This protective measure is the result of a variety of financial factors, including legacy business costs and cash flow constraints. The bankruptcy will offer our company the opportunity to restructure and serve our clients more efficiently," company president and co-owner Richard Cole said today in an e-mail statement. "The reorganization process will result in an improved, more efficient Associated Community Services."
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Where Is The Problem?
Published: Friday, April 11, 2014