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I’m a Client of Debt Shield and Getting Sued By Chase Bank

“Dear Steve,

I recieved a court summons from Chase and am working with debt sheild….it is supposed to be a 3 yr program. my concern is i’m already being sued. there is not enough money to try and settle with chase yet meaning it will go to court and i have no money for an attorney. i’m worried the judge will order me to pay them and i am back to square one. any suggetions. do i give up on the debt settlement and look into bankruptcy. i’m to appear in court next friday.

Regina”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

Dear Regina,

I’m afraid you don’t have much of a case in court. Instead of paying Chase you are sending money to a debt settlement company, Debt Shield, Inc. instead.

Now my best guess is that Debt Shield sold you on the debt settlement program with all sorts of great statements about how you’d be able to reduce your debt in a short amount of time for a fraction of what you owe.

But here is where the gotcha comes in. Debt Shield is most likely going to say they have no responsibility for you getting sued and then point to this hidden disclosure on their site. – Source

This TASC disclosure statement says:

Your creditors may continue collection efforts on delinquent accounts while you are enrolled in a Debt Settlement Program. Such collection efforts can include phone calls and letters to you, charging off the account, sending accounts to collection agencies or attorneys, lawsuits and even garnishments of your wages if a judgment has been obtained. Debt Shield, Inc. makes no claim that it will be able to stop these collection activities. These activities may continue while Debt Shield, Inc. is making its best efforts to negotiate your debt.

So Debt Shields is probably say, “We tried” and then you are on your own even though you’ve paid a fee for Debt Shield to deal with this debt for you.

The reality is that bankruptcy is THE ONLY solution that legally protects you from the creditors. You need to click here to find a local bankruptcy attorney as soon as possible. Bankruptcy can block the suit, eliminate your other debts reasonably and you might even be able to get some money back from Debt Shield for money you’ve paid them by your bankruptcy attorney.

As a side note, there is at least one open class action suit against Debt Shield which makes allegations Debt Shield was not forthcoming with all the facts. You can read David Haile v. Debt Shield here. A quick search of Maryland courts found eleven more open cases against them.

Debt Shield CEO is attorney Phillip Fewster and is the lead attorney with Apex Law Group. This previous lawsuit alleges Fewster stole the secrets of another debt settlement company to start Debt Shield.

Big Hug!

Im a Client of Debt Shield and Getting Sued By Chase Bank
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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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