I was able to able to make payments on all my accounts until the company I worked for went bankrupt and I lost my job. As of December 2008, I owe $50,000 on six Visa credit cards. This was when I signed up with Allegro Law and November 2009, I found out as you know that they were fradulent and I lost all my money.
Then I called all the Visa banks and offered to pay minimum payments. They told me all my accounts are written off to collection agencies and attorneys. Now the amount has become $60,000 with penalties and non payment from Allegro Law.
I got in touch with the collection agencies and they don’t want minimum payments; they want a big amount. I am willing to pay what I can afford–$100 a month on wach card and no one wants that. I need your advice please, which debt management company can I go to to arrange minimum payments?
I live in NJ and I saw on the local NJ channel (channel 12) an advertisement for Debt Group Company (1-800-987-0960) and they are willing to help? What is your advice about them? The second program is Debt Bailout (I spoke to the financial adviser named David Bryan- 1-866-676-3947 ext. 103) and they advertised on 1010 am radio (1010wins.com) and this program is run by law office of Douglas G. Miller of CA. The BBB rating is B+. I spoke to David Bryan and I told him how much I owe and they said they they will reduce to $30,000 and the payment will be $650 per month for four years and he told me that they will set up a trust fund and send a letter to all collection agencies and attorneys. What is your opinion about them?
I can only pay minimum payments and I can’t settle with the collection agencies due to the large amounts they require. I want to make minimum payments to everybody. I cannot file for bankruptcy because I have a joint ownership of the house with my husband and I owe 200,000 on a home equity loan. Plus, I owe on an education loan for my daughter and they were kind enough to lower my pay ments to $250 a month for a $55,000 loan.
I can’t file for bankruptcy because it will effect other members of my household. I am willing to pay all to Visa cards, but I can only pay minimum payments of $100 a month. What is your advice? Time is running out and I am trying to do resolve this before anyone can send court papers. They are threatening to send court papers. Any advice would be greatly appreciated. Thank You.
I could not located the second company you mentioned, Debt Bailout. The telephone number you gave me used to be associated with a company called Global Debt Solutions.
I did get in touch with the Debt Relief Group and spoke to a Marcus there. You can hear my conversation on the Debt Relief Group review, click here.
Anna, you know all those lies you were told with Allegro, it’s the same with these companies as well. NO DEBT SETTLEMENT COMPANY CAN PREVENT YOU FROM BEING SUED. If your payments are not acceptable to your creditors, you will be sued. If you are paying a debt settlement company instead of paying the creditor, you will be sued and there is nothing you can do to stop it except for bankruptcy.
What concerns me most is that you seem to have some assumption that bankruptcy would not let you keep your house or pay the education loan for your daughter. That’s just not true. I think you might be operating with either information, lies, told to you be a debt settlement sales person, or assumptions.
Before you make any assumptions about bankruptcy you really should talk to a local bankruptcy attorney about your specific situation. If you want, you can click here to find a local bankruptcy attorney you like.
The stuff you were told about debt settlement that suckered you in to the Allegro scam were lies. No debt settlement company has any control over a creditor to reduce your debt by one penny if a creditor does not want to do so.
Don’t get taken again, go see a bankruptcy attorney and get the facts.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.What Do You Think About Debt Relief Group or Debt Bailout? - Anna by Steve Rhode