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Vortex Debt Group Review

Address:
Vortex Debt Group
3280 Suntree Blvd, #101
Melbourne, FL 32940
(866) 558-3503
[email protected]

Website:
www.vortexdebtgroup.com

Description:

We understand what it is like to be in debt and how hard it can be finding a way out. Vortex Debt Group is a leader in the debt settlement industry with almost 20 years of experience. We have a team of negotiators that will attempt to settle on your debt for less than the full balance that you owe. We know that eliminating your debt may not be an easy process, that’s why our professional customer service staff will be there for you along the way.

Vortex Debt Group provides you with an affordable solution to become debt free. Our highly trained representatives will work with you to find the best program that will fit your needs. You will receive up to date information regarding the progress of your program and any questions you may have along the way will be answered by our very attentive customer service staff. The only direction this program will take you is one way and that’s the path to financial freedom. – Source

Vortex Debt Group is a debt settlement company that claims that “Debt settlement is one of the best alternatives to bankruptcy.” – Source.

Management

Tim McCallan, President/Owner

Contacts

Jessica Schlotter – Training Coordinator – [email protected]
Joshua Correll – Sales Supervisor – [email protected]
Elizabeth Flood – Administrative Assistant
Wayne Walton – title unknown but it is reported he runs the place – [email protected]
Michael Kisner – Operations Manager – [email protected]

Relationships

Americorp, Inc.
MediaMogul
Tim McCallan
Pure Nutrients
Jeannie McCallan – Wife
Intermark Media
Copec
Consumer Debt Resources, Inc.
The Achievable, Inc.

Interesting Points

Sales Positions

Vortex is advertising sales positions that speak about how much a sales rep can make by selling debt settlement. The focus seems to be on selling consumers into debt settlement and staff can make up to $80,000 in their first year doing so.

NOW HIRING – INSIDE SALES
Conducting On-the-Spot Interviews
Wednesday, January 6th thru Friday, January 22nd,
10 AM – 5 PM
For class starting on Mon., January 25, 2010

Vortex Debt Group, a leading Debt Solution Services Company, is seeking 25-30 inside sales agents to add to its existing team of sales professionals. Qualified applicants should have:

  • Strong communication and interpersonal skills
  • Professional attitude and appearance
  • Experience preferred but not required

Vortex Debt Group offers a competitive compensation package which includes:

  • $20,000 base salary plus monthly commission plan
  • $65K – $80K 1st year earning potential
  • Full benefits package

Vortex Debt Group
3270 Suntree Blvd., Suite 102A, Melbourne, FL 32940
Phone: 631-940-2400, ext. 2258

related terms: sales, inside sales, telesales, telemarketing, debt consolidation, customer services, call center, marketing, salesperson, account executive, sales reps, sales representatives

I also found an interesting previous job listing at the same address.

AMERICORP CUSTOMER SERVICE OPEN HOUSE Monday September 21 and Tuesday September 22 10 a.m. – 5 p.m. 3280 SUNTREE BLVD. SUITE 101. MELBOURNE, FL 32940

Now Hiring – Inside Sales
Conducting On-the-Spot Interviews
Wednesday January 6th thru Friday January 22nd
10:00 AM – 5:00 PM at Vortex Debt Group, 3270 Suntree Blvd, Suite 102A, Melbourne, FL 32940
For class starting on Monday, January 25, 2010
Email resumes to [email protected] only if you cannot attend an interview
Vortex Debt Group, a leading Debt Solution Services Company, is seeking 25-30 inside sales agents to add to its existing team of sales professionals.
Qualified applicants should have:

  • Strong communication and interpersonal skills
  • Professional attitude and appearance

Vortex Debt Group offers a competitive compensation package which includes:

  • $20,000 base salary plus monthly commission plan
  • $65K – $80K 1st year earning potential
  • Full benefits package

Complaints

They did not explain in writing in their contract how all of the fees and charges were to be charged, they missrepresented how they were to go about there buisness. They didnt do what they said they were going to do, these things were stated right in there contract on how they would conduct there buisness, and because they didnt do what they stated they would do, we were turned over to collections on 2 accounts. Then when we cancelled relations with them, they were to cash us out on our special interest account, we only got $480.00 out of 2.000.00 that we had paid in 4 months. please get all information on these debt consolodaters before you sign anything. youre better off dealing with the crediters youreself, good luck – Source

Picture of Web Site

Vortex Debt Group Review

Vortex Debt Group Client Contract

VORTEX DEBT GROUP, INC.
3270 Suntree Boulevard, Suite 102A
Melbourne, FL 32940
1-800-518-4657
www.vortexdebtgroup.com

This Debt Negotiation Agreement (“Agreement”) is between the undersigned individual or individuals (“you”) and Vortex Debt Group, Inc. (“we”).

In consideration of the mutual promises contained in this Agreement, you and we agree as follows:

1. Purpose of this Agreement. This Agreement sets forth the terms and conditions under which we will assist you in negotiating and settling debts owed by you to certain unsecured creditors.

2. Our Services and Charges. An itemized list of the services we will provide and the charges for those services is set forth on Attachment 1. All attachments to this Agreement will be considered a part of this Agreement. You will pay our charges by transferring to us a portion of the funds you will be depositing in a special purpose bank account to be established and maintained by you (see paragraph 4 below). For this purpose, you must complete and return to us the Electronic Funds Transfer Authorization attached to this Agreement as Attachment 2. Through such Authorization, you give us permission to initiate a withdrawal from your special purpose account to pay our charges, when due. Please note that we do not provide tax or investment advice. We also do not provide legal advice, although we have arranged for you to be enrolled, at no cost to you or financial benefit to us, in a legal advice program described more fully on Attachment 10. We also do not provide advice or assistance in improving your credit record, credit history, or credit rating.

3. Your Financial Analysis and Plan. Your financial analysis and your debt negotiation plan are attached as Attachments 3 and 4. You warrant to us that you will review them prior to executing this Agreement. You also warrant that the account balances are no more than fifteen days old. Assistance with your financial analysis and plan may be obtained prior to, or after, your executing this Agreement, in person or by calling, toll-free, 800-518-4657. You will not voluntarily increase, by additional charges or otherwise, any debts included in the debt negotiation plan. We may, in our sole discretion, have excluded certain debts from those that we initially indicated to you that we expected to include in the plan. You must let us know immediately (a) if any of the information on Attachment 4 is incorrect, (b) if any of the information changes in the future, (c) if any of the debts listed are secured by your wages or any other property, or (d) if any of the debts are owed together with any person who will not be a party to this Agreement. We will not be able to negotiate a debt if our information about the debt is wrong, if it is secured in any way, or if we are not representing all of the individuals who are liable for the debt. Please note that any changes to Attachment 1 may result in changes in the negotiation plan and in the fees charged for our services. Attachments 5 and 6 contains important cautions about your debt negotiation plan that you should read before executing this Agreement.

4. Your Special Purpose Account. Your debt negotiation plan contemplates that the funds needed to finance any settlement of your debts will be deposited by you in a special purpose account owned by you. This account (the “Special Purpose Account”) will be set up for you at an FDIC-insured banking institution by Global Client Services (“GCS”), an independent financial services company. You must complete and return to us for delivery to GCS the Draft Application Agreement and Disclosure form (the “GCS Agreement”) appended to this Agreement as Attachment 6. The negotiation plan contemplates that you will deposit into the Special Purpose Account the amount set forth on your negotiation plan (see Attachment 4). Any failure to deposit this amount will alter the plan and delay the negotiation process. It will also entitle us to terminate this Agreement (see paragraph 7 below). GCS and the banking institution will impose charges, set by them, for their services in supervising and operating the Special Purpose Account. These charges are set forth in the GCS Agreement and will be payable by automatic withdrawal from the Special Purpose Account. You authorize us to view the balances in your Special Purpose Account. All funds in the Special Purpose Account will, however, remain yours until they are withdrawn as fees to GCS, to the banking institution, or us (see paragraph 5 below) or disbursed to your creditors in settlement of your debts. You may withdraw any balance in the Special Purpose Account at any time, subject to our right to terminate this Agreement (see paragraph 7 below).

5. Other Responsibilities You Have. You must make certain that all information you give us is accurate and complete. You are providing us with authority to represent you in negotiations with your creditors by completing and returning to us the power of attorney form attached to this Agreement as Attachment 7. You will also complete and return to us within five days any questionnaires you may receive from us that requests additional information about your financial circumstances. You will send to us promptly, for our information, any documents you may receive (including, but not limited to, letters, bill statements, legal filings) regarding any of your debts to be negotiated. Subject to your rights under our Privacy Policy as set forth on Attachment 8 to this Agreement, you permit us to request from third parties, to review, and to discuss with your creditors all information we may have regarding your financial and other personal circumstances, including credit reports. You allow us to monitor and record telephone calls you may have with us You authorize us to make, on your behalf, settlement proposals that reflect the settlement amounts included in your negotiation plan as soon as you have accumulated in your Special Purpose Account funds potentially sufficient to settle with a creditor even if you do not have enough funds to settle with all creditors. You will consider in good faith any settlement proposals that we may send to you for approval. You authorize us to initiate any payments from your Special Purpose Account (see paragraph 4 above) needed to implement any settlement agreement that you approve.

6. Other Responsibilities We Have. In addition to our services as described on Attachment 1, we will send you promptly full details regarding any settlement proposals that we make on your behalf or that we receive from your creditors. We will not accept any settlement offer over 50% without your prior written approval. We will also provide to you an accounting regarding your plan at least once each month, within five business days after a request by you (but not more than once per month), and upon cancellation or termination of this Agreement. This accounting shall contain the following information: (a) The amount of money deposited by you into your Special Purpose Account since the last report; (b) the amounts and dates of disbursement of any moneys made from your Special Purpose Account to each creditor listed in your plan since the last report; (c) the amounts deducted from the amounts you deposited; (d) the amount held in reserve in the Special Purpose Account; and (e) if, since the last report, a creditor has agreed to accept as payment in full an amount less than the principal amount of the debt owed by you, (i) the total amount and terms of the settlement; (ii) the amount of the debt when the individual assented to the plan; (iii) the amount of the debt when the creditor agreed to the settlement; and (iv) the calculation of any associated settlement fee. We will maintain records for you for five years after the final payment made by you and produce a copy of them to you within a reasonable time after a request for them. We will notify you within five days after learning of a creditor’s decision to reject or withdraw from a plan. Such notice shall include the identify of the creditor and your right to modify or terminate this Agreement.

7. Termination of this Agreement. You may terminate this Agreement at any time and for any reason on five days’ prior written notice to us. We may terminate this Agreement upon written notice to you if you commit a material breach of this Agreement or if you fail to make any of the payments into your Special Purpose Account, or to maintain the balances in the Special Purpose Account, contemplated by your debt negotiation plan (see Attachment 4). Any power of attorney you have provided to us (see Attachment 7) will become ineffective upon a termination of this Agreement by you or us.

8. Notices. Except for a notice to cancel this Agreement (see Attachment 12), all notices permitted or required under this Agreement shall be deemed given when actually received or when sent certified mail, return receipt requested, with all postage affixed, addressed to you or us at the addresses set forth in this Agreement or any subsequent address of which you or we shall have given prior notice to the other under this Agreement.

9. Indemnification. You will indemnify us, hold us harmless, and defend us against any claims made against us relating to the services we provide to you under this Agreement other than claims arising out of our breach of this Agreement, our violation of law, our negligence, or our intentional wrongdoing.

10. No Class Actions. TO THE EXTENT ALLOWED BY LAW, YOU AND WE WAIVE ANY RIGHT TO PURSUE DISPUTES ON A CLASSWIDE BASIS; THAT IS, EITHER TO JOIN A CLAIM WITH THE CLAIM OF ANY OTHER PERSON OR ENTITY, OR TO ASSERT A CLAIM IN A REPRESENTATIVE CAPACITY ON BEHALF OF ANYONE ELSE IN ANY LAWSUIT, ARBITRATION, OR OTHER PROCEEDING.

11. Trial By Jury. TO THE EXTENT ALLOWED BY LAW, YOU AND WE WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY LAWSUIT, ARBITRATION, OR OTHER PROCEEDING.

12. Arbitration. SET FORTH IN ATTACHMENT 10 IS AN ARBITRATION AGREEMENT. BY ACCEPTING THAT ATTACHMENT, YOU AND WE WILL BE AGREEING THAT ALL DISPUTES BETWEEN YOU AND US WILL BE RESOLVED BY BINDING ARBITRATION AS EXPLAINED IN THAT ATTACHMENT

13. Limitation of Remedies and Damages, Limitation of Remedies and Damages

13.1 Limitation of Remedy. NEITHER YOU NOR WE WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES INCURRED BY THE OTHER, EVEN IF THE PARTY CAUSING THE DAMAGES WAS NOTIFIED OF THE POSSIBILITY OR LIKELIHOOD OF THE OCCURRENCE OF SUCH DAMAGES AND REGARDLESS OF WHETHER THE DAMAGES AROSE OUT OF A BREACH OF CONTRACT, THE COMMISSION OF A TORT, OR ANY OTHER CAUSE OF INJURY.

13.2 Maximum Liability. IN NO EVENT WILL OUR LIABILITY FOR ANY DAMAGES TO YOU EXCEED THE FEES PAID BY YOU TO US UNDER THIS AGREEMENT.

14. Miscellaneous.

14.1 Entire Agreement. This Agreement, including the Attachments, constitutes the full and complete Agreement between you and us. It supersedes any and all other agreements or understandings, whether written or oral. If any portion of this Agreement shall be held to be contrary to law or unenforceable, the remaining portions of this Agreement shall not be affected.

14,2 Jurisdiction. This Agreement is made and the services performed in Melbourne, Florida. In the event of a dispute that is not resolved by arbitration as set forth on Attachment 9, the venue of resolution shall be Orange County, Florida and in no other location.

14.3 Limitation of Obligation. The non-fulfillment of any obligations under this Agreement shall be excused for as long as the non-fulfillment is caused by Force Majeure (Acts of God – such as, but not limited to; a fire or hurricane.) control.

14.4 Enforceability. In the event any one or more provisions contained hereof for any reason are held to be invalid, illegal, or unenforceable in any respect, that invalidity, illegality, or unenforceability shall not affect any other provisions within this Agreement, all of which shall remain in effect.

14.5 Assignment and Amendment. You may not assign this Agreement, or any part of it, to any other
party. We may assign this Agreement to a successor company provided that such company agrees to be bound fully to its terms. We may modify this Agreement at any time, as long as the modification does not disadvantage you, by providing you written notification and a copy of the new agreement.

14.6 Electronic Communication. You authorize us to correspond or convey documentation to you via e-mail unless you notify us in writing otherwise. You acknowledge neither you nor we have control over the performance, reliability, availability, or security of e-mail.

You may cancel this Agreement without any penalty or obligation at any time before midnight Eastern Time of the 3rd business day that begins after you agree to it by electronic communication or by signing it. Please see Attachment 12 for more information about your right of cancellation, including a form of Notice of Cancellation.

This Agreement includes an Arbitration Agreement (see Attachment 9). This Agreement will not become effective until accepted and executed by us. DO NOT SIGN THIS AGREEMENT BEFORE YOU READ IT. YOU MUST BE GIVEN A COPY OF THIS AGREEMENT AND ANY ATTACHMENTS HERETO.

Acknowledged, agreed to, and accepted by us:

DEBTOR
CO-DEBTOR

Attachment 1

Itemized List of Services and Charges

Services Provided Free of Charge

The following services are provided free of charge, through the services of a certified counselor, whether or not you enter into an agreement with us:

1. Reasonable education about the management of your personal finances.

2. A financial analysis, a copy of which is attached hereto as Attachment 3.

3. A debt negotiation plan, a copy of which is attached hereto as Attachment 4, that—

a. We have determined, based on our analysis of the information you have provided to us and is otherwise available to us, is suitable for you and contains payment obligations that you will be able to meet; and

b. Sets forth for each creditor listed on Attachment 1 an amount that we believe such creditor will accept.

4. The availability, at your option, of assistance by toll-free telephone call to 800-518-4657, or in person, to discuss the financial analysis and plan attached hereto as Attachments 3 and 4.

Services Provided for a Charge in the Absence of an Agreement: None

Services Provided for a Charge with an Agreement

The following services are provided for a charge as part of your Debt Negotiation Agreement with us:

1. Set-up fee of $25.00. The set-up fee is payable upon our execution of the Debt Negotiation Agreement. This fee covers our services in setting up your account in our system.

2. Monthly service fee of $59.00. The monthly service fee is payable every month that any debt of yours is subject to negotiation. The monthly service fee is not refundable. This fee covers our services in monitoring your account, providing continuing education about the management of your personal finances, and responding to your inquiries and correspondence promptly.

3. Settlement fee of [X]. The settlement fee covers our services in making settlement proposals to, and responding to settlement proposals from, your creditors. It also covers communicating with you about any settlement proposals and obtaining your consent to any proposals

4. All fees are also refundable in the event you cancel the Debt Negotiation Agreement within three (3) business days of your acceptance as more fully explained in Attachment 12.

5. These fees do not include the fees payable to your banking institution and to Global Client Solutions in order to establish and maintain your Special Purpose Account as required in paragraph 4 of the Debt Negotiation Agreement with us.

6. The schedule of payments to be made by you, including the amount of each payment and the date on which each payment is due are as follows:

First Initial Payment: [X]

Recurring Monthly Payment: [X]

Monthly Due Date: 21

DEBTOR
CO-DEBTOR

Attachment 2

Electronic Funds Transfer Authorization

Attachment 3

Vortex Debt Group Review

Attachment 4 & 5

Vortex Debt Group Review

Attachment 6

ACCOUNT AGREEMENT AND DISCLOSURE STATEMENT

This Account Agreement and Disclosure Agreement (this “Agreement”) contains the terms, conditions, and disclosures that apply to your Special Purpose Account (your “Account”). By signing the application for your Account (your “Account Application”) and using your Account, you agree that this Agreement shall apply; and you agree to abide by all of the terms, conditions, and rules set forth herein. If you have questions that you do not believe are addressed in this Agreement, you can and should call, e-mail, or write Global Client Solutions, LLC (“Global”) at the number or address shown at the end of this Agreement. Please review this document carefully and keep it with your other important records. In this Agreement, the words, “I”, “me”, “mine”, “my”, “you” and “your” mean you and any other party who you authorize to use your Account.

Purpose, Nature and Use of the Account: Your Account is a special purpose account that you can use in connection with the debt settlement program you have undertaken. In general, you will be making periodic deposits to your Account from your primary bank account, and you will be periodically disbursing funds from your Account to repay your debts and the costs associated with your Account and your debt settlement program. Your Account is an FDIC-insured sub-account within a master custodial account maintained at the bank designated by Global (the “Bank”). You are the only one that has the right to authorize the transactions relating to your Account; and you may withdraw funds from your Account and/or close it at any time in the manner provided for below. Your Account may not be used for any illegal purpose.

Passcodes / Passwords: You will be provided with a four-digit passcode (your “Passcode”) that you will use to access your Account via the telephone and to identify yourself when contacting a customer service representative. You will also be provided with an initial Internet password (your “Password”) that you will use to access your Account via the Internet. You may change your Password from time to time for security purposes and you are encouraged to do so. You are responsible for the protection and use of your Passcode and Password. Do not disclose your Passcode or Password to anyone who does not have your permission to access your Account.

Telephonic / Electronic Communications: You authorize Global to accept and act upon any agreement or instruction received from you or authorized by you, concerning your Account where you have communicated that agreement or instruction by telephone, facsimile, e-mail or other electronic means using a telephone keypad or computer. Use of your Passcode, Password or any other form of identification designated by you in any transaction constitutes and will be accepted as your electronic signature, as that term is used in the federal Electronic Signature in Global and National Commerce law and other applicable laws.

Authorizing and Initiating Transactions: You have authorized certain transactions to be undertaken in your Account Application. From time to time, you may change those instructions and/or give other instructions to initiate deposits to or disbursements from your Account by using your Password to log into the Global website or by contacting Global customer service. You may also convey instructions through the Sponsor identified on your Account Application, and such instructions may be acted on without further confirmation unless you direct otherwise in writing. In any event, you must always provide a reasonable period of time to act your instructions. All authorized deposits to your account will be initiated pursuant to your instructions from time to time and all authorized disbursements will be made from your Account provided it contains sufficient “good” funds to cover the amount of the disbursement. However, neither Global nor the Bank, nor any service provider to either of them, will be responsible for determining when a payment is actually due, nor shall they be responsible for determining whether a payment is for the correct amount or otherwise proper. Their sole obligation in this regard will be to execute your payment instructions in a commercially reasonable manner as soon as practical after receipt of such instructions; and if they perform in such manner, they shall not be responsible for any late payment fee, penalty or other charge levied by your creditor, for any failure of your creditor to honor a settlement or for any other adverse action taken or not taken by your creditor or any other party.

Fees and Charges: You promise to pay the fees and charges shown in the Schedule of Fees and Charges set forth below and in your Account Application; and you agree that these fees and charges may be deducted directly from your Account. The monthly service charge for the first month in which your Account is opened will not be prorated and will be deemed earned on the first day your account is opened. Thereafter, the monthly service charge will be deemed earned in full on the first day of each calendar month during which your Account remains open. Other fess will be deemed earned at the time of the transaction or the event that gives rise to the fee. The fees and charges relating to your Account may be increased for any increase in the associated costs and expenses, in which case you will be provided with at least thirty days prior written notice.

Termination of Agreement: You may terminate this Agreement and close your Account at any time by sending a written notice to Global customer service. In addition, this Agreement may be terminated and your Account cancelled at any time without notice for inactivity, if your Account is improperly maintained or used, or if you otherwise violate any provision of this Agreement. If this Agreement is terminated for any reason, the collected balance in your Account will be sent to by check within a reasonable period of time.

Default and Collection of Accounts: If your Account is suspended, cancelled or otherwise terminated for any reason and your Account has a negative balance, you agree to pay the negative balance upon demand. Should you fail to remit the full amount of such negative balance, you shall remain responsible for the deficit and collection actions may be pursued against you. If any such collection action is undertaken, you agree to pay all court costs and collection fees, including reasonable attorney’s fees, to the extent permitted by applicable law.

Monthly Statements: You will receive a monthly statement showing your Account activity and balance by mail unless you have elected to receive your statement electronically. Additionally, you may obtain balance and transaction information by using your Passcode to access your Account via the telephone, by using your Password to log into the Global website or by calling Global customer service. You agree to carefully inspect your statement and promptly report any erroneous, improper or unauthorized transactions.

No Interest: No interest will be paid to you on or with respect to your Account.

Consumer Liability: If you believe someone has transferred or may transfer money from your Account without your permission, contact Global customer service immediately. Telephoning is the best way to keep your possible losses down.

FDIC Insurance: The funds in your Account will be FDIC insured up to a maximum of $250,000.00 or such lower or higher limit as may be established by the Federal Deposit Insurance Corporation from time to time.

Incomplete Transactions: Neither Global nor the Bank, nor any service provider to either of them, will be liable for failing to complete a transaction if you do not have enough money in your Account to complete the transaction; or if circumstances beyond their control prevent the completion of the transaction, including, without limitation, the acts or omissions of any ACH, check or other processor, the National Automated Clearing House Association, the Federal Reserve System, any other bank, or the directive of any regulatory authority

Error Resolution Procedures: In case of errors or questions about transactions involving your Account, call or write Global customer service no later than sixty days after the transaction in question has been reflected on your monthly statement. Please provide the following information:

1. Your name and Account number.

2. Date and amount of the transaction.

3. Type of transaction and description of the suspected error. Please explain as clearly as possible why you believe there is an error or why you need additional information.

4. Dollar amount of the suspected error.

If you provide this information orally, you may be required to you also provide it in writing within ten business days. You will be told of the results of the investigation of the suspected error within ten business days after you submit the information and any error will be promptly corrected. However, if more time is required to investigate the suspected error, it may take up to an additional thirty days to complete the investigation. If it is determined that there is no error, you will be provided with a written explanation within three business days of such determination; and you may ask for and receive copies of the documents used in making any such determination.

Creditor Disputes: You agree to settle all disputes about payments made to your creditors from your Account. Neither Global nor the Bank is a party to your debt settlement plan, and they do not participate in the negation of your debts. Accordingly, you hereby expressly acknowledge that neither Global nor the Bank have any involvement in or respon-sibilities of any nature with respect to your debt settlement plan or the results that you may or may not achieve from its execution.

Governing Law: The laws of the State of Oklahoma govern this Agreement. If any part of this Agreement is declared void or unenforceable, such provisions shall be deemed severed from this Agreement. The remainder of this Agreement shall remain in full force and effect, and shall be modified to any extent necessary to give such force and effect to the remaining provisions. No delay or forbearance in the strict observance or performance of any provision of this Agreement, nor any failure to exercise a right or remedy hereunder, shall be construed as a waiver of such performance, right, or remedy, as the case may be.

Arbitration and Application of Law: In the event of a dispute or claim relating in any way to this Agreement or our services, you agree that such dispute shall be resolved by binding arbitration in Tulsa Oklahoma utilizing a qualified independent arbitrator of Global’s choosing. The decision of an arbitrator will be final and subject to enforcement in a court of competent jurisdiction.

Limitation of Liability: Under no circumstances shall Global pr the Bank ever be liable for any special, incidental, consequential, exemplary or punitive damages.

USA Patriot Act Compliance: In order to assist in combating terrorism and preventing the banking system from being used for money laundering purposes, you authorize Global and the Bank to take those steps that are reasonable and practical to identify you and any information about you, including, without limitation, securing or accessing a credit report on you, obtaining other information about you and otherwise verifying your identity as they are required to do by the USA Patriot Act.

PRIVACY POLICY

Personal information may be collected from your Account Application, any updated information you may provide from time to time and the transactions processed through your Account. A description of the Privacy Policy applicable to your Account is provided below. If you have additional questions regarding the privacy of your personal information, please contact Global customer service.

Collection / Use of Personal Information: Col- lection of your personal information is designed to protect access to your Account and to assist in providing you with the products and services you have requested All personal information collected and stored by Global or the Bank, or on their behalf, is used for specific business purposes to protect and administer your Account and initiate your authorized transactions, to help to design or improve the applicable products and services and to comply with state and federal banking regulations. Only approved personnel will have access to your personal information. Furthermore, auditing mech-anisms have been put into place to further protect your information by identifying the personnel who may have accessed and in any way modified, e.g., updated or added to, your personal information. Maintenance of Accurate Information: It is your best interests to maintain accurate records concerning your personal information. For this reason, you are allowed to update your personal information online, at anytime, by using your Password to log into the Global website or by contacting Global customer service. tion, providing audit trails to further safeguard the privacy of your personnel information.

Limited Access to Personal Information: Access is limited to your personal information to only those personnel with a business reason for knowing such information. In addition, all personnel are educated about the importance of confidentiality and customer privacy. Individual user names and passwords are used by approved personnel to access your personal information, providing audit trails to further safeguard the privacy of your personnel information.

Third-Party Disclosure Restrictions: All third parties with a business need to access your personal inform-ation are required to adhere to stringent privacy policies. Your personal information may be supplied to a third party in order to process a transaction you have authorized or if the disclosure is allowed or required by law, e.g., the exchange of information with reputable reporting agencies in response to a subpoena, in connection with the investigation of fraudulent activity, etc.

Additional Information: If you have any questions regarding this Privacy Policy, please contact Global customer service.

SCHEDULE OF FEES AND CHARGES
One-time account setup ………….. $ 9.00
Monthly service charge …………… $ 9.85
Transaction and other fees:
Deposits
Incoming wire transfer …………. $10.00
Dishonored/returned deposit item $ 0.00
Disbursements:
Wire transfer ……………………. $15.00
2nd day check delivery …………. $10.00
Overnight delivery (3pm cutoff) .. $20.00
Stop payment order …………….. $17.50

CUSTOMER SERVICE INFORMATION
Website Address;
www.globalclientsolutions.com
Correspondence Address:
4500 S. 129th E. Avenue, Suite 175
Tulsa, OK 74134
Telephone – (800) 398-7191
Fax – (866) 355-8228
Email: [email protected]

Note: Deposit instructions will be provided in the Global Welcome Packet for those customers who send in deposits.

Attachment 7

Limited Power of Attorney-in-Fact

NO LEGAL ADVICE CAN OR WILL BE PROVIDED TO YOU UNDER THIS AGREEMENT

This Limited Power-of-Attorney-In-Fact does not revoke earlier powers of attorney given by you or on your behalf.

The undersigned, whose address is: _____ hereby appoint VORTEX DEBT GROUP, INC., whose address is 3270 Suntree Boulevard, Suite 102A, Melbourne, FL 32940 (800-518-4657) as my/our attorney-in-fact, with full power to represent me/us in negotiating the validity, reduction, settlement, and payment, as may be required, of accounts owed to my creditors.

I/We also authorize VORTEX DEBT GROUP, INC. to request, receive, and provide confidential credit and account information from / to creditors, credit reporting agencies, and other third parties who are involved with my credit issues.

I/We further authorize VORTEX DEBT GROUP, INC. to release a copy of this Limited Power of Attorney-in-Fact to my creditors, third parties, and third party processing companies, as needed.

This Power-of-Attorney shall be deemed revoked and be ineffective upon the cancellation or termination of your Debt Negotiation Agreement with us.

DEBTOR
CO-DEBTOR

Attachment 8

Privacy Policy

Protecting your privacy is important to Vortex Debt Group, Inc. (referred to in this notice as “we” or “Vortex”). This notice discusses our privacy practices with respect to guarding the confidentiality and security of your personal information. We are committed to assuring the privacy of individuals who have entered into a Debt Negotiation Agreement with us. This notice explains what information we may collect about you, how each of we may use it and how we protect it. Please read this carefully to understand what we do.

What kind of personal information do we collect and where do we get it?

In conducting our business, we collect and maintain various types of personal information about you including the following:

  • Information that we receive directly from you in applications and other forms that you deliver to us and from communications with you, which may include information such as your address, telephone number, Social Security number, assets, income, and the types, balances and account numbers of your credit accounts.
  • Information we compile from your transactions or experiences with us, which may include your account balances and payment history and information we receive from other sources such as when your creditors verify your credit or other-type relationship with them. This may include information such as your employment history, loan and/or credit card payment history and balances.
  • Information we request with your authorization and permission, which may include from your creditors, those that purchase your debt and credit bureaus.
  • Demographic or other information we assemble about you, which is not assembled for the purpose of determining your eligibility for a debt negotiation program or any other product or service you request.
  • When you visit our web site, we may collect information to measure the use of our site and to assist us in improving the content of our site; however, we do not collect information about visitors to our web sites unless you voluntarily choose to provide it.
  • What do we do with the personal information we have about you?

    This information is used by us primarily for the purpose of providing the services that you have requested, as permitted by law, and when required by law. Your financial information forms the basis of financial analysis that is conducted internally. In accordance with your signed Debt Negotiation Program Client Agreement, we will also share and exchange your personal information with your acknowledged creditors or those who have purchased or been assigned the debts you have listed with us and with third party companies that work for us to perform customer services related to your program. We also may share information with affiliated companies that work with us to provide services to you.

    The law permits us to share information about our current and former customers with government agencies or authorized third parties under certain circumstances. For example, we may be required to share such information in response to subpoenas or to comply with certain laws.

    We may also disclose non-public personal information about you to companies that perform marketing or other services on our behalf, to outside financial institutions with whom we have joint marketing agreements, or to nonaffiliated third parties, such as financial service providers and non-financial companies.

    Further, in accordance with your signed Debt Negotiation Program Client Agreement you authorize us to provide Legal Care Direct TM, a third party company, with your name and zip code and that you are a client of Vortex.

    How do we treat former customers?

    The law allows us to share the personal information of former customers. We continue to adhere to the policies and practices described above even if you are no longer our customer.

    How do we protect your personal information?

    We restrict access to nonpublic personal information about you to those parties described above including employees and/or customer service providers who need to know that information to provide products and services to you or for quality control and research purposes. We maintain physical, administrative and technical safeguards that comply with Federal regulations to protect your nonpublic personal information.

    How can you find out what information we have about you?

    You may access your personal account information via our secured website, or through verbal or written contact with Vortex. You may correct your information by accessing your account information (for example, on a statement or in response to specific requests) and by telling us if it is incorrect by calling or writing to us at the telephone number or appropriate address for such changes on your statement or other materials.

    What choices do I have about information sharing?

    As discussed above, from time to time, we will share your personal information with affiliated and non-affiliated companies. If you prefer that we do not disclose your non-public personal information (other than transaction information which we are authorized to do under applicable law) among our affiliated companies, or that we do not disclose your non-public personal information with non-affiliated third parties, you may opt out of those disclosures; that is, you may direct us not to make those disclosures (other than disclosures permitted by law). We may share personal information about you if we do not hear from you within 45 days of receiving our “opt-out
    notice.”

    If you wish to opt out of disclosures to nonaffiliated third parties (other than disclosures permitted by law), you may do so by filling out the accompanying Information Sharing Opt-Out Election Form attached to this notice and mailing it to:

    Vortex Debt Group, Inc.
    3270 Suntree Boulevard, Suite 102A,
    Melbourne, FL 32940

    For two-party accounts, an opt-out election made by either signer of the Debt Negotiation Program Client Agreement will apply to the entire account.

    Please allow several weeks for your opt out request to take effect. Please keep in mind that marketing may already be in progress. Your election to opt-out will remain in effect until revoked by you in writing. If you choose to opt-out, we will, however, continue to share your non-public personal information with third parties as permitted by applicable law.

    Keeping up to date with our Privacy Policy We may make changes to this policy at any time and will inform you of changes, as required by law.

    Attachment 9

    Arbitration Agreement

    THIS AGREEMENT CONTAINS AN ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE PARTIES.

    1. Purpose. If you and we have a Dispute (as defined below), you or we may elect to arbitrate that Dispute in accordance with the terms of this Arbitration Agreement and cannot litigate the Dispute in court. Arbitration means you and we will have a fair hearing before a neutral arbitrator instead of in a court by a judge or jury.

    2. Definitions. As used in this Provision, the term “Dispute” means any dispute, claim, or controversy between you and us, or any of our directors, officers, employees, or agents, arising out of, or relating to, the Debt Negotiation Agreement to which this Arbitration Agreement is an attachment, or otherwise regarding any aspect of your relationship with us, that has accrued or may hereafter accrue, whether based in contract, statute, regulation, ordinance, tort (including, but not limited to, fraud, misrepresentation, fraudulent inducement, negligence, or any other intentional tort), or any other legal or equitable theory. “Dispute” includes the validity, enforceability, or scope of this Arbitration Agreement. “Dispute” is to be given the broadest possible meaning that will be enforced. As used in this Agreement, the term “Arbitration Agreement” means all the terms of this
    Attachment 10. This Arbitration Agreement shall not be interpreted to provide for arbitration of any dispute that does not constitute a claim recognized under applicable law.

    3. Right to Opt Out. IF YOU DO NOT WISH TO BE BOUND BY THIS ARBITRATION AGREEMENT, YOU MUST NOTIFY US IN WRITING WITHIN 30 DAYS FROM THE DATE THAT YOU EXECUTE AND DELIVER THIS AGREEMENT BY EMAILING US AT [email protected], OR BY MAIL TO VORTEX DEBT, INC., 3270 SUNTREE BOULEVARD, SUITE 101A, MELBOURNE, FL 32940. YOUR WRITTEN NOTIFICATION TO US MUST INCLUDE YOUR NAME, ADDRESS, AND ACCOUNT NUMBER AS WELL AS A CLEAR STATEMENT THAT YOU DO NOT WISH TO RESOLVE DISPUTES WITH US THROUGH ARBITRATION. YOUR DECISION TO OPT OUT OF THIS ARBITRATION AGREEMENT WILL HAVE NO ADVERSE EFFECT ON YOUR RELATIONSHIP WITH US OR THE PROVISION OF SERVICES TO YOU BY US. IF YOU
    HAVE PREVIOUSLY NOTIFIED US OF YOUR DECISION TO OPT OUT OF ARBITRATION, YOU DO NOT NEED TO
    DO SO AGAIN.

    4. Initiation of Arbitration Proceeding/Selection of Arbitrator. If you or we elect to resolve your Dispute with us through arbitration pursuant to this Arbitration Agreement, the following arbitration organization will apply the appropriate rules for consumer claims then in effect to arbitrate the Dispute: American Arbitration Association (“AAA”), 335 Madison Ave., Floor 10, New York, NY 10017-4605, 1-800-778-7879, www.adr.org. A single arbitrator will resolve the dispute.

    5. Restrictions. ALL PARTIES TO THE ARBITRATION MUST BE INDIVIDUALLY NAMED. THERE SHALL BE NO RIGHT OR AUTHORITY FOR ANY CLAIMS TO BE ARBITRATED OR LITIGATED ON A CLASS ACTION OR CONSOLIDATED BASIS OR ON BASES INVOLVING CLAIMS BROUGHT IN A PURPORTED REPRESENTATIVE CAPACITY ON BEHALF OF THE
    GENERAL PUBLIC (SUCH AS A PRIVATE ATTORNEY GENERAL), OTHER CUSTOMERS, OR OTHER PERSONS SIMILARLY SITUATED, UNLESS THE STATUTE UNDER WHICH YOU ARE SUING PROVIDES OTHERWISE.

    6. Location of Arbitration. The arbitration proceedings will be conducted at a location reasonably convenient to you, and within 100 miles of a United States city serviced by an international airport. If the parties are unable to agree on a location, the determination will be made by the AAA.

    7. Payment of Arbitration Fees and Costs. WE WILL ADVANCE ALL ARBITRATION FILING FEES AND ARBITRATOR’S COSTS AND EXPENSES UPON YOUR WRITTEN REQUEST GIVEN PRIOR TO THE COMMENCEMENT OF THE ARBITRATION. YOU ARE RESPONSIBLE FOR ALL ADDITIONAL COSTS THAT YOU INCUR IN THE ARBITRATION, INCLUDING, BUT NOT LIMITED TO, ATTORNEY AND EXPERT WITNESS FEES. IF THE ARBITRATION PROCEEDING IS DECIDED IN OUR FAVOR, YOU SHALL REIMBURSE US FOR THE FEES AND COSTS ADVANCED TO YOU ONLY UP TO THE EXTENT AWARDABLE IN A JUDICIAL PROCEEDING. IF THE ARBITRATION PROCEEDING IS DETERMINED IN YOUR FAVOR, YOU WILL NOT BE REQUIRED TO REIMBURSE US FOR ANY OF THE FEES AND COSTS ADVANCED BY US. IF A PARTY ELECTS TO APPEAL AN AWARD TO A THREE-ARBITRATOR PANEL, THE PREVAILING PARTY IN THE APPEAL SHALL BE ENTITLED TO RECOVER ALL REASONABLE ATTORNEYS’ FEES AND COSTS INCURRED IN THAT APPEAL. NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS ARBITRATION AGREEMENT, WE WILL PAY ALL FEES AND COSTS WHICH WE ARE REQUIRED BY LAW TO PAY.

    8. Severability. If any clause within this Arbitration Agreement is found to be illegal or unenforceable, that clause will be severed from the Arbitration Agreement, and the remainder of the Arbitration Agreement will be given full force and effect. However, if the provision precluding the arbitrator from having the power to conduct any proceeding as a class action, representative action, private attorney general action, or similar action is deemed invalid or unenforceable, then this entire Arbitration Agreement shall be deemed unenforceable. If a conflict or inconsistency arises between the AAA Rules and this Agreement, this Agreement will control. In the event that this entire Arbitration Agreement is determined to be illegal or unenforceable for any reason, or if a claim is brought in a Dispute that is found by a court to be excluded from the scope of this Arbitration Agreement, you and we have each agreed to waive, to the fullest extent allowed by law, any trial by jury.

    9. Continuation. This Arbitration Agreement shall survive the termination of the Debt Negotiation Agreement between you and us.

    Acknowledged, agreed to, and accepted by us:

    DEBTOR
    CO-DEBTOR

    Attachment 10

    Legal Assistance Program

    Upon becoming our client, you will automatically, and at no additional cost, be enrolled in Legal Care Direct TM, .a legal service provider. Any services received would be completely independent of services provided by us under your Debt Negotiation Agreement with us (see paragraph 2 of that Agreement and Attachment 1). By entering into the Debt Negotiation Agreement, you authorize us to provide Legal Care Direct TM with your name and zip code.

    Legal Care Direct TM is a nationwide discount legal referral service with a proprietary network of plan attorneys that provides free and discounted legal care solutions for members and their eligible family members. Legal Care Direct TM is a separate and distinct entity from us.

    If it becomes necessary to provide you with a defense of claims or allegations raised by third parties against you, then you will have the option, at your own expense, to engage a Legal Care Direct TM member attorney to assist you. Other than the monthly enrollment fee, which will be paid by us, any fees due and payable by you to Legal Care Direct TM or a member attorney are your sole obligation and are unrelated and separate from the fees due under your Debt Negotiation Agreement with us and Attachment 1.

    We make no representation or warranty regarding the services provided by Legal Care Direct TM. You agree to hold us and our directors, officers, employees, and agents harmless from any and all liability or damages arising or resulting from your engagement of Legal Care Direct TM or its member attorneys. For more information regarding Legal Care Direct TM, please refer to its website at http://www.legalcaredirect.com.

    Acknowledged, agreed to, and accepted by us:

    DEBTOR
    CO-DEBTOR

    Attachment 11

    Consumer Credit File Rights under State and Federal Law

    You have a right to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any “credit repair” company or credit repair organization has the right to have accurate, current, and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your report only if it is over 7 years old. Bankruptcy information can be reported for 10 years.

    You have a right to obtain a copy of your credit report from a credit bureau. You may be charged a reasonable fee. There is no fee, however, if you have been turned down for credit, employment, insurance, or a rental dwelling because of information in your credit report within the preceding 60 days. The credit bureau must provide someone to help you interpret the information in your credit file. You are entitled to receive a free copy of your credit report if you are unemployed and intend to apply for employment in the next 60 days, if you are a recipient of public welfare assistance, or if you have reason to believe that there is inaccurate information in your credit report due to fraud.

    You have a right to sue a credit repair organization that violates the Credit Repair Organization Act. This law prohibits deceptive practices by credit repair organizations.

    You have the right to cancel your contract with any credit repair organization for any reason within 10 business days from the date you signed it.

    Credit bureaus are required to follow reasonable procedures to ensure that the information they report is accurate. However, mistakes may occur.

    You may, on your own, notify a credit bureau in writing that you dispute the accuracy of information in your credit file. The credit bureau must then reinvestigate and modify or remove inaccurate or incomplete information. The credit bureau may not charge any fee for this service. Any pertinent information and copies of all documents you have concerning an error should be given to the credit bureau.

    If the credit bureau’s reinvestigation does not resolve the dispute to your satisfaction, you may send a brief statement to the credit bureau, to be kept in your file, explaining why you think the record is inaccurate. The credit bureau must include a summary of your statement about disputed information with any report it issues about you.

    The Federal Trade Commission regulates credit bureaus and credit repair organizations.
    ormation contact:

    The Public Reference Branch
    Federal Trade Commission
    Washington, DC 20580

    Attachment 12

    NOTICE OF RIGHT TO CANCEL

    You may cancel this agreement, without any penalty or obligation, at any time before midnight of the third business day that begins the day after you agree to it by electronic communication or by signing it.

    To cancel this agreement during this period, send an e-mail to [email protected] or mail or deliver a signed, dated copy of this notice, or any other written notice, to

    VORTEX DEBT GROUP, Inc.
    3270 Suntree Boulevard
    Suite 102A
    Melbourne, FL 32940

    If you cancel this Agreement within the 3-day period, we will refund all money you already have paid us. You also may terminate this agreement at any later time in accordance with paragraph 7 of your Debt Negotiation Agreement with us, but we are not required to refund fees you have paid us, except as may be required under Attachment 1 or by law.

    I/We cancel this agreement,

    DEBTOR
    CO-DEBTOR

    Client agreement called Agreement_NewMainNoLimits OP 22.7 Rev 1 Eff 4/27/2009

    Is This Your Company?

    If this is a review is about your company and you would like to respond to the information I’ve presented here to possibly put it into a broader context or make a correction, please feel free to post your response in the comments section below. I invite you to read my Debt Relief Company and Site Review Policy first.

    Vortex Debt Group Review by

    Share This and Spread the Word

    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.
    • Martin Fischer

      At least one PA Court has ruled Vortex is guilty of Unfair Consumer Practices and awarded triple damages against Vortex

    • Adam

      I am sad i didn’t stumble here until it is too late.   How they explain the fee’s is much differenent to what the actualy contract reads.  I should have went with my gut and walked away, but i called them when i thought i had no other options.   I really hope others look more closely than i did.  The real problem is that when it seems like you have no other options, you don’t look close.   This is a real issue.

    • Adam

      I am sad i didn’t stumble here until it is too late.   How they explain the fee’s is much differenent to what the actualy contract reads.  I should have went with my gut and walked away, but i called them when i thought i had no other options.   I really hope others look more closely than i did.  The real problem is that when it seems like you have no other options, you don’t look close.   This is a real issue.

    • http://www.colemankempinski.com Debtorsadvocate

      I become enraged about certain debt settlement companies (DSCs) at least 2 – 3 times a month when the victims come to see me about filing bankruptcy.  The most recent victim I met with is an 80 year old woman with only $600 SSI per month.  As a bankruptcy lawyer, I have been trying to get the message out about these unscrupulous companies (while still recognizing there are some decent DSCs), so stumbling upon Steve Rhode’s blog has been a wonderful source.

      One thing I would like to mention is the advertising on Vortex’s website which is very misleading regarding filing bankruptcy.  While I do not advocate filing bankruptcy for everyone with debt, and in fact advise many people who come to me to go a different route or at least try another path first (even when that means I just spent over an hour with them in a free consultation and expect nothing more from them), bankruptcy is always a better option than going with these types of DSCs.  

      You can see HERE what Vortex Debt Group says about bankruptcy.  The fact that they talk about the credit repercussions of bankruptcy compared to signing up with them or a similar DSC is ludicrous.  My latest victim was in a 38 month plan during which substantially all the money she paid the first 18 months went towards Vortex’s fees.  In the meantime she could not pay her credit cards and her credit score and mental health (due to harrassing creditors) has been wrecked far worse since she enrolled with Vortex.  She came to me because one of the credit card companies filed a lawsuit against her.  Had she filed bankruptcy before she got so deep in default, her credit score would have not suffered so horribly.

      They also say, “[f]iling for a bankruptcy also includes possible significant upfront costs for a lawyer to represent you in bankruptcy court…”  I can honestly say that in all the DSC contracts I have reviewed or been told about by clients or prospective clients, my fees to file a bankruptcy are significantly lower than the DSCs’ fees.  Also, while either a portion or all of the attorney fees have to be paid upfront, the DSCs’ payment schedules require all their fees upfront in the first 18 months of the program before any substantial debt settlement is undertaken (how can they settle debts when the savings account doesn’t really start getting funded until all the fees are paid?). 

      Finally, they allege “the program [filing bankruptcy] does not guarantee acceptance even after payment of your lawyer’s fees.”  If an individual goes to an ethical bankruptcy lawyer they will know if they are entitled to file bankruptcy before they pay any money to the lawyer.  Most bankruptcy attorneys offer free no obligation consultations, and most individuals are entitled to a discharge of their debts in a bankruptcy proceeding.

      Anyhow, I will get down off my box now and thank you Steve for giving us your blog.  You are doing a fabulous job getting the message out and I will continue to try to do the same.  HERE is my own blog article that takes an in-depth look at the contracts from these types of DSCs, “The Truth About Some Debt Settlement Companies.”

      Kimberly Coleman
      Coleman & Kempinski P.C.
      [email protected]
      Philadelphia, PA

      • http://GetOutOfDebt.org Steve Rhode

        Kim,

        Thanks so much for the comment and information. I snapped a picture of the Vortex page you mentioned and I’m attaching it here in case they change it.

        Please stop by any time and offer comments and feedback to help consumers. I can use the help I can get.

        Steve

    • Buyers Advocates Melbourne

      Great to know that there are people willing to help those in debt, it’s quite a big problem for some people, some would commit suicide because of this.

    • http://www.astutebuyersadvocates.com.au/ Buyers Advocate Melbourne

      Great to know that there are people willing to help those in debt, it’s quite a big problem for some people, some would commit suicide because of this.

    • Been there, done that

      Cancel immediately! They will take you for everything you have and then you will still owe the credit card companies. Her is a break down of your fees. The 15% is $6600, if your program is 48 months, your monthly fees, @ $59 per month, are $2832. The fee to Global Client Solutions is $9.85 per month and @ 48 months that’s $472.80. Your grand total of fees is $9904.80. Call your credit card companies and they will work with you. Don’t let these people scam you. Call your bank and stop the ACH and Call Vortex and cancel the contract you signed. There is a very low success rate with these companies and you will end up in court. Most credit card companies are expediting collections once they realize you are in with a debt settlement company. This is when the collection agencies take you to court demanding repayment plus penalties and interest. That is when Vortex will tell you that they can no longer help you and all of your money is gone. Go to CCCS, they are non-profit and legitimate. Good Luck Sandra.

    • Sandra R.

      Damon, I was just talking to several associates at length today from Vortex. They had me electronically sign the contract. I am having serious doubts. My debt is high at $44,000 in credit cards, but I am still in good standing with the credit card companies. I don’t think I can go on like this paying out the minimum and the high interest rates to boot. But I don’t want to start out with a snowball and end up with an avalanche of problems that could occur if I get involved with this company. I made the mistake of giving them my bank account routing number. I hope that I haven’t done anything that is binding with them yet!!

    • Jessica

      Steve, this is Jessica Schlotter. I am no longer the Training Coordinator for Vortex Debt Group.
      Please remove my name.

      Thank you!

      • will

        LOL

    • yarrumoznofla

      ok spelled out you have $15k in debt
      they are gonna charge you 15% or $2250.00
      they estimate that they are gonna settle your debt to maybe 6k to 7k

      their 15% or $2250.00 is based on what you owe $15k not what their settlement estimate of 6k to 7k which is a 7k to 8k difference.

      Your payments would be about $330.00 a month. From that you pay a maintenance fee of about $10.00 for the life of the contract to the guys that “hold” your money. (NOTE: this is a interest negative loan because you pay these guys to hold your money and God knows what they do with it)

      On top of the above you pay a retainer TO VORTEX for a fee of about $125.00. for the first18 months for them to recoup their $2250.00 for a grand total of $135.00 in fees.

      This means that your $330.00 – $125.00 = $195.00 a month is at your disposal for settlement purposes.

      In 12 months you would have paid $3960.00 and only $2340.00 would have been at your disposal so $1620.00 goes to their pockets. For that you brave all the collection calls to home and work.

      Now say one of your cards had a $6k balance and you get a letter from them directly wanting to settle for say $4k at the 12 month mark what do you do? NOTHING because you are S.O.L because you’re $1660.00 short!

      • will

        Not only are you paying a $10 maintenance fee to Global Client Solution, Vortex also gets a maintenance fee of $59 per month. Hmmm… that would add up, after 18, months to $1062, that is if you can pay off all your debt in 18 months. Now if your program is for the 48 months, you will be paying $2832 in monthly maintenance. Now let’s calculate the total fees on $15, 000. Your 15%: $2250, the monthly maintenance, $2832 and the bank fee at $10 a month: $480. Your grand total of fees are: (drum roll please), $5562. That is a scary amount of fees. About 35% of what you owe in total. You can settle with your creditors yourself for half of what you owe. In 24 months, at $300 a month, you will be completely debt free and could have your money in an interest bearing account with your name on it. Wise up people, it is basic math here. Do it yourself and quit paying a bunch of bandits to do what you can do for yourself.

    • Carolina

      Thank you so much for this information, I was looking into them recently and boy did I have a very good picture of this people now, you have save me lots of headics and more, I’ll not forget it, it’s so appreciated.

    • http://DamonDay.com/blog Damon Day

      After looking at the actual contract I am disturbed by a few things.

      I don’t see anywhere that they explain when the settlement fee is paid to them. I may have missed it, but it doesn’t say if the entire monthly payment goes to them until their total fee is paid or what? That is a pretty important piece of information that I do not see in the contract. Did I just miss it?

      Also I am not sure how they figure their settlement fee. It comes out to a little over 14 percent of total debt, which seems odd.

      Then they have the 59 dollar a month fee, and with some math I am figuring that this is sort of a 3 year plan. Which would add another 2100 or so to the fee. Pretty sneaky. When most consumers hear 59 a month admin fee, they are not thinking an extra 2,000 to 3,000 dollars. Man these guys are bad bad news.

      So if a client has around 15K in debt, these guys are charging a minimum fee of over 4,000 and likely more if it goes longer than 3 years because the settlements are not as good as their guess.

      Wow, that is a total fee of 27% of the clients debt!!!

      What a deal. The problem is that they are charging 59 a month. If the client had 100K in debt, the 59 would not have as big of an impact, but most of these guys routinely accept clients with 8K or 10K in debt. Take someone with 8K in debt and charge 59 a month for 3 years and 14% of debt and you are charging 40% of debt as a fee.

      For clients with high debt loads, these guys are bad news, for clients with less than 25,000 in debt these guys are a total disaster.
      .-= Damon Day´s last blog ..Debt Settlement USA – A Not So Glowing Review =-.

      • Sandra R.

        Damon, I was just talking to several associates at length today from Vortex. They had me electronically sign the contract. I am having serious doubts. My debt is high at $44,000 in credit cards, but I am still in good standing with the credit card companies. I don’t think I can go on like this paying out the minimum and the high interest rates to boot. But I don’t want to start out with a snowball and end up with an avalanche of problems that could occur if I get involved with this company. I made the mistake of giving them my bank account routing number. I hope that I haven’t done anything that is binding with them yet!!

        • Been there, done that

          Cancel immediately! They will take you for everything you have and then you will still owe the credit card companies. Her is a break down of your fees. The 15% is $6600, if your program is 48 months, your monthly fees, @ $59 per month, are $2832. The fee to Global Client Solutions is $9.85 per month and @ 48 months that’s $472.80. Your grand total of fees is $9904.80. Call your credit card companies and they will work with you. Don’t let these people scam you. Call your bank and stop the ACH and Call Vortex and cancel the contract you signed. There is a very low success rate with these companies and you will end up in court. Most credit card companies are expediting collections once they realize you are in with a debt settlement company. This is when the collection agencies take you to court demanding repayment plus penalties and interest. That is when Vortex will tell you that they can no longer help you and all of your money is gone. Go to CCCS, they are non-profit and legitimate. Good Luck Sandra.

    • Will-I-Am

      An interesting article… If Cambridge had soem bad times, maybe this company did and is trying to get back on their feet the right way. Did you even try calling the company to scout the work for yourself or just draw your own conclusions??

      • http://GetOutOfDebt.org Steve Rhode

        Will-I-Am,

        Can you at least use a real name and a real email address if you want to be taken seriously. I doubt your email address is at cnn.com as you gave. It’s interesting that your IP address traces back to FL. Hum, could you be someone connected with Vortex Debt Group. Maybe?

        What conclusions did I draw that were not supported with facts?

        Steve

        • Will

          Steve your research is excellent. This company is a myriad of companies that are intertwined to deceive the everyday consumer. While you may steer away from one in your desperation to get out of debt, they have another dummy corporation set up with yet another fictitious name to lure you in. They set up corporations in numerous different peoples names to throw off the scent, while these unwitting victims rake in the money for the McCallans. It is sad that there is no thought or consideration of how many peoples lives have been scarred by this greed. I hope there is a stop to this behavior. A few people have been awarded full refunds by threatening to go to their State Attorney General but the question remains, how many others are left holding the bag of this caper?

    • Will

      I worked for The Achievable in Melbourne Florida and it is a scam. Not only were the owners of the company sued twice, once over Kennedy Hess and then over the Allegro law incidents. The owners of The Achievable also own Vortex Debt Group, Americorp, Pure Nutrients, Media Mogul and many other holding companies, all of which are mostly rip-off schemes to lure the unsuspecting consumer into a useless service or product.

      After The Achievable was sued, Vortex Debt Group popped up out of the woodwork, guess who the owner is, Tim McCallan. No one was ever allowed to mention the names, The Achievable, Kennedy Hess, Allegro Law, or even the original company, Americorp after Vortex Debt Group was up and running.

      Essentially the owners are tying to hide under a shroud of deceit and greed through various corporations and fictitious names.

      While the consumers were losing millions to these gluttons, the owner, Jeanne McCallan was walking around in Lois Vuitton shoes and sporting Prada purses. These people are ruthless and uncaring about the needs of the average Joe, their client, it’s all about the money.

      I hope this gets out there as a warning, BUYER BEWARE of these companies. They are all scam artists. Vortex Debt Group could possibly be there biggest windfall and scam yet.

    • Roger

      I worked there and in fact it was a major scam. Originally from Brooklyn I have a keen eye for boiler room operations and boy this sure was a boiler room.

      Will

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