Latest Posts
Home > Rate and Review > Debt Settlement Account Processing > Noteworld – Scam, Complaint, Review, or Praise?

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.
  • Noteworld/Meracord Hostage

    Noteword (now doing business as Mericord is HIGHLY DISHONEST.  They play games, holding onto received checks for up to 10 days before depositing them and then charging late fees.  Their options to pay – direct deposit (only free option) which gives them direct access to your bank account.  Pay by check ($2, plus almost guaranteed $60 late fee), or pay online ($15-20 by check) and can still generate a late fee even when paid on time.  This is a HORRIBLE COMPANY that I am hostage to because of a private loan.

    • tina

      i have paid my account off over a year now. went to apply for a loan .they told me i sell owe money to the people noteworld was suppose to pay off.what to do

  • Howd2011

    I am still paying on my account, won’t have debts paid until March 2012. However, I would like to say that I called Noteworld a few months back and not only would they not tell me anything to help me but they were the nastiest people I have ever talked to on the phone. You may as well not call them with an issue, you are wasting your precious time. Very hateful to talk to and appeared not to care.

    • Alexisethin

      Noteworld is doing business with dmb financial debt settlement company ..I was former client in 2007 one of my debt was settle but my last payment was missing ..now my account from that debt of 5g something still in credit bureau report. Because they said I failed to make last payment. Which impossible because every month noteworld will automatic withdraw fund from my bank account and put into account noteworld created to store the fund..DMB Financial is rip off so does Noteworld company..

  • Angelo

    Silly rabbit….holding Noteworld liable for DS mishaps is like blaming the supermarket for selling Sudafed to the dealer used to make his meth.   

    • Errick

      Are you being sarcastic?  Because that’s a really good analogy.  If you know you are selling a precursor to meth to people who make meth with it, and you do nothing about it, you are part of the problem.

      Likewise, if you’re Noteworld, your own records show that less than two percent of the people who use your services make even 20 of their 36-60 payments before succumbing to their debts and paying more money for the bankruptcy they were eligible for two years earlier.  That makes Noteworld part of the problem.

      As I have said before, failure is built into this system.  It is virtually certain.  People desperate to retain their dignity are sold a pile of poop and told it’s an “alternative.”  Where are the success stories?  All these comments and not one from a successful customer.  Not even one.

      • Angelo

        Errick, you are assuming that everyone who purchases Sudafed is going to use it for meth.  Your argument may have held water pre TSR but there are plenty of debt relief companies looking to do the right thing and help consumers.  I’ve offered you the opportunity to contact and interview my graduated clients but you keep declining.  Im giving you the forum to shut me and the rest of the DS companies up and prove your point but you refuse….why’s that?  

        Pay attention everyone, this is where Errick changes the subject or just ignores the challenge all together.  Wait for it…..wait for it……

      • Errick

        You misunderstand, I don’t know all of what Noteworld does, perhaps some of their clients are perfectly legitimate.  The analogy still holds.  If you know that some of your ephedrines are going to make meth, you should do something.  Maybe all you can do is not enough, that’s okay.  But you can’t just hide the truth and say you’re just the retailer.

        And my reply is the same, if you can’t post a success story publicly then it’s not worth anything.

      • Angelo

        NoteWorld is just the money transmitter and I cant speak for them but from what Ive seen they have done something, I know they wont work with DS companies that charge upfront fees and that’s what we are talking about here. I dont know what their policy is for exempt attorneys but you have to give them kudos for that.  Kind of like how these days if you want to buy Sudafed you have to show your ID and sign for it. See, problem identified and steps taken to correct them.  

        As far as success stories, Ive seen you discredit those in the past and more importantly we both know anyone can draft a success story and post it.  What would you like it to read?  How about a little bet?  You contact my graduated clients and if they confirm that I was able to get them out of debt for about half what they owed then you agree to tell us who you are and your affiliation in the industry and if I lose I’ll sell my company and leave the industry…..deal?

  • Angelo

    Silly rabbit….holding Noteworld liable for DS mishaps is like blaming the supermarket for selling Sudafed to the dealer used to make his meth.   

  • Jcountryman

    NoteWorld Servicing Center is not contracted with or a part of Lloyd Ward Law Firm. In November 2007, the President and CEO, Linda Remsberg, purchased NoteWorld from C-BASS, making it a privately owned company. Over the years we have added product lines to our business to accommodate the debt settlement industry, private loans & leases and real estate investors. NoteWorld is one of only 19 companies in the nation with the elite status of holding a money transmitter license in 33 or more states. We are the only company licensed as a money transmitter in the industries we serve.

    As a third-party payment servicer, NoteWorld is not responsible for negotiating settlements with your creditors because it is not a debt relief service provider (DRSP). NoteWorld processes payments according to the written contract entered into by you with your DRSP and offers you, who chose to use a DRSP, a payment option for the safe and secure handling of the money you voluntarily committed for the purpose of paying your debts.

    On October 27th, 2010, the Federal Trade Commission issued its final rule regarding DRSP practices and fees. NoteWorld reviewed the various interpretations of the Federal Trade Commission’s new regulations regarding the debt settlement industry. NoteWorld decided to only provide payment servicing for new consumers in debt relief programs where fees are charged or collected after debt relief services have been provided as described by the FTC. This policy adheres to NoteWorld’s promise to rigorously comply with regulation for our customer’s protection. Since October 27th, NoteWorld no longer accepts new accounts from programs which charge debt relief service fees prior to settlement. Our servicing of payments for accounts boarded with us prior to this date was not affected.

    If at any time a consumer no longer wants to use NoteWorld’s services, they may opt-out of the NoteWorld contract by notifying NoteWorld. When NoteWorld receives this notification, the consumer’s NoteWorld account is closed and all remaining funds, if any, held by NoteWorld are remitted back to the consumer within two (2) business days. Again, NoteWorld is not responsible for any fees charged by the DRSP that the consumer separately agreed to pay.

    Please also see my earlier response above for more information. If you would like to contact us directly, we would be happy to address any specific concerns you might have about the way NoteWorld has handled your money or provide you with a full accounting of the monies received by you and disbursed on your behalf. Please visit our website at http://www.noteworld.com.

  • Jgl26530

    Noteworld is doing business with Lloyd Ward Law Firm. Lloyd Ward Law Firm was suppose to settle my debt and 2 months have gone by and they have not settled any debts. Therefore, they breached their contract. Noteworld does business with them (I believe they are run by the same person/people. They say they are an “independent” company). They made 2 deductions from my account and refuses to give the money back stating fees for services by LLoyd Ward. They didn’t do anything for me as contracted. Yet, NoteWorld is refusing to refund the money. How independent is that? Just because you have a seperate Federal ID number, doesn’t mean you aren’t owned by the same people. However, I will be filing complaints against both companies. DO NOT DO ANY BUSINESS WITH LLOYD WARD LAW FIRM OR NOTWORLD. THERE IS DISHONESTY BY BOTH. RESEARCH THEM ON THE NET. YOU FIND THERE ARE THE SAME TYPES OF COMPLAINTS AGAINST BOTH.

  • Jgl26530

    Noteworld is doing business with Lloyd Ward Law Firm. Lloyd Ward Law Firm was suppose to settle my debt and 2 months have gone by and they have not settled any debts. Therefore, they breached their contract. Noteworld does business with them (I believe they are run by the same person/people. They say they are an “independent” company). They made 2 deductions from my account and refuses to give the money back stating fees for services by LLoyd Ward. They didn’t do anything for me as contracted. Yet, NoteWorld is refusing to refund the money. How independent is that? Just because you have a seperate Federal ID number, doesn’t mean you aren’t owned by the same people. However, I will be filing complaints against both companies. DO NOT DO ANY BUSINESS WITH LLOYD WARD LAW FIRM OR NOTWORLD. THERE IS DISHONESTY BY BOTH. RESEARCH THEM ON THE NET. YOU FIND THERE ARE THE SAME TYPES OF COMPLAINTS AGAINST BOTH.

    • Jcountryman

      NoteWorld Servicing Center is not contracted with or a part of Lloyd Ward Law Firm. In November 2007, the President and CEO, Linda Remsberg, purchased NoteWorld from C-BASS, making it a privately owned company. Over the years we have added product lines to our business to accommodate the debt settlement industry, private loans & leases and real estate investors. NoteWorld is one of only 19 companies in the nation with the elite status of holding a money transmitter license in 33 or more states. We are the only company licensed as a money transmitter in the industries we serve.

      As a third-party payment servicer, NoteWorld is not responsible for negotiating settlements with your creditors because it is not a debt relief service provider (DRSP). NoteWorld processes payments according to the written contract entered into by you with your DRSP and offers you, who chose to use a DRSP, a payment option for the safe and secure handling of the money you voluntarily committed for the purpose of paying your debts.

      On October 27th, 2010, the Federal Trade Commission issued its final rule regarding DRSP practices and fees. NoteWorld reviewed the various interpretations of the Federal Trade Commission’s new regulations regarding the debt settlement industry. NoteWorld decided to only provide payment servicing for new consumers in debt relief programs where fees are charged or collected after debt relief services have been provided as described by the FTC. This policy adheres to NoteWorld’s promise to rigorously comply with regulation for our customer’s protection. Since October 27th, NoteWorld no longer accepts new accounts from programs which charge debt relief service fees prior to settlement. Our servicing of payments for accounts boarded with us prior to this date was not affected.

      If at any time a consumer no longer wants to use NoteWorld’s services, they may opt-out of the NoteWorld contract by notifying NoteWorld. When NoteWorld receives this notification, the consumer’s NoteWorld account is closed and all remaining funds, if any, held by NoteWorld are remitted back to the consumer within two (2) business days. Again, NoteWorld is not responsible for any fees charged by the DRSP that the consumer separately agreed to pay.

      Please also see my earlier response above for more information. If you would like to contact us directly, we would be happy to address any specific concerns you might have about the way NoteWorld has handled your money or provide you with a full accounting of the monies received by you and disbursed on your behalf. Please visit our website at http://www.noteworld.com.

      • Edbmw13

        yes being a third party you are excused of many mishaps 

  • Honfamo

    I dont expect you to be honest to admit its all scam

  • Mary L ang

    $464 was deducted from my bank account by World Credit Services, which does not show up anywhere in my account. They said perhaps it was put into someone else’s account. Now, NO ONE answers the phone there, and they will not tell me what happened to my money after they promised to find out. It’s been two months since the money was taken out, and two weeks since I called World Credit Services. FRAUD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    • Mary Lang

      NOTEWORLD services WORLD CREDIT SERVICES–DON’T TRUST EITHER OF THEM!!!!!!!!!

  • http://www.noteworld.com Jennifer Countryman

    Steve,
    I wanted to add that in reading your other posts regarding NoteWorld, I see that you understand what our services are, but it is important to us for the sake of our current and potential customers that it is made clear we are neither a debt settlement company, nor contracted with any debt settlement companies.

    Thank you!

    • http://GetOutOfDebt.org Steve Rhode

      Jennifer,

      Not sure if you missed my comment above since you did not answer.

      Steve

  • http://www.noteworld.com Jennifer Countryman

    Hi Steve,
    As a company focused on our customers satisfaction, we appreciate reviews and customer feedback. However, I must inform you that NoteWorld Servicing Center is NOT a debt relief company as you state above.

    NoteWorld Servicing Center is one of the largest third-party payment servicers in the nation for seller finance notes and a leader in debt settlement payment servicing. NoteWorld services payments for private real estate contracts, rentals, leases, and the reduction of debt. In business for nearly 30 years, NoteWorld is committed to outstanding customer service, and offering the best products and services available to meet its customers’ needs. As a third-party payment servicer, NoteWorld is not responsible for negotiating settlements with creditors because it is not a debt settlement company (DSC). NoteWorld processes payments according to the written contract entered into by the customer with a DSC and offers the customer, who chose to use a DSC, a payment option for the safe and secure handling of the money he/she voluntarily committed for the purpose of paying down his/her debts.

    When a consumer contracts with a DSC for help paying down debt, they will also sign a agreement authorizing a separate payment servicing company (in this case, NoteWorld) to withdraw a specific sum of money from their bank account each month. This is a separate agreement that allows NoteWorld (or other payment servicing company) to make electronic withdrawals from the consumer’s bank account to satisfy the amounts payable under the terms of the contract with their DSC. NoteWorld follows the instructions stated in the NoteWorld contract and at no time acts without authorization from the consumer. By selecting NoteWorld for payment processing, consumers are assured their money is being handled by an objective third party who is not involved in negotiating settlements with creditors.

    NoteWorld is licensed as a Money Transmitter and handles all payments according to the rules of Money Transmission and has managed payments for individuals through an FDIC insured trust account for 30 years. With a trust account, each customer’s funds are separately insured and no transaction regarding these funds will be processed at any time without a contract signed by, or permission granted from the customer.

    I hope this explanation has helped you to understand NoteWorld’s services and obligations. For more information on NoteWorld, our licenses, policies, procedures or services, please visit our website at http://www.noteworld.com.

    • http://GetOutOfDebt.org Steve Rhode

      Jennifer,

      Sorry, I see Noteworld kind of got lumped in on this generic post. Yes, you are not a DSC.

      While I have you, let me ask, I was surprised to see the FDIC tell GCS and RMNB that they needed to do background checks on their clients to minimize risk. See this article.

      I was curious if Noteworld also performed such background investigations on the DSC clients you take on to make sure you are not working with less than upright DSCs? Have you verified your DSC clients are providing activities that are beneficial to your clients, cease operation with any DSC which is harming consumers, ensure the marketing material of DSCs comply with consumer protection laws and regulations and ensure that DSCs deal with consumer complaints and take corrective action?

      If a consumer has a problem with their DSC, who specifically at Noteworld should they contact to inform you?

      As you can see from that article I mentioned GCS is getting sucked into more suits with DSC clients just as you just did with Freedom Debt Center in the class action suit against you and Freedom Debt Center. The suit labels you as co-consiprators with Freedom Debt Center and I see this happening more and more.

      Steve

    • Honfamo

      I dont expect you to be honest to admit its all scam

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.