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Home > Ask The Get Out of Debt Experts > I Want to Start a Class Action Lawsuit Against Lloyd Ward & Associates. – Lindee

I Want to Start a Class Action Lawsuit Against Lloyd Ward & Associates. – Lindee

“Dear Steve,

I tried to get a small biz loan to start my company around four years ago. Unfortunately, I was unable to do so (as even SBA wanted three or more years of tracek record). Long story short – I used credit cards for the start-up. For the payback, I was never, EVER late on any card, and always paid more than minimum payments. I consistently whittled away at all the cards – slowly, buy surely, reducing balances.

Fast forward to July of 2009. Every credit card company (all nine of them) changed my rates/credit line. Through reduction of credit lines my FICO went from 740 to 690. Interest rates soared as high as 31.99 on cards I had used for cash advances.

Out of desperation to get debt free – I contacted Lloyd Ward & Assoc. The salesman (who I naively thought was a credit counselor) convinced me that going with Best Debt Options was the best way to go. When I expressed concern over what this “solution” would do to my FICO, I was told my score would be BETTER than it was right now, two years after all debts were satisfied. I was also told the Firm would contact each creditor to alert them that the FIRM now had POA and would be working with them. The only downside would be I’d have to endure 60 – 90 days of phone calls – which I was not to answer.

Another long story short – none of the above played out as it had been promised. I contracted with the Firm in early Feb. of 2010. Six – Seven months later I (and my mother – who works with me and had taken out some cards) was still being hounded day and night by the CC companies. It was so bad I even had to have my mom’s phone number changed. My credit score is shot – with negative reports that will linger for seven years. When I began speaking with CC companies (six months into this) I found out not a SINGLE one had ever been contacted by Lloyd Ward and Assoc.

I truly tried to give them the benefit of the doubt. It was not until about the sixth month that I finally realized they were sucking $643 a month from me and I had nothing to show for it. At that point I began questioning the account exec – requesting documentation of what the Firm had done on my behalf since Feb. When it was clear nothing had been done – I contacted Note-World and told them to stop the monthly withdrawals. Note-World refunded approximately $1000 – but Lloyd Ward stills owes me approximately $3400.

I did as you suggested and sent a certified letter to the Firm in early September – asking for a refund. (Please see attachment) I gave them a list of the all the places to which I would send letters of complaints. I did not receive the refund checks (for me and my mom) so I sent one last email reiterating my plans. I wanted another week, and then followed through. Packaged were sent out to BBB, Texas Bar, Tex Attorny General, FTC and one other place that I don’t have on the tip of my fingers right now.

I Want to Start a Class Action Lawsuit Against Lloyd Ward & Associates.   Lindee
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Here is my question. I would like to start a Class Action suit against this company – how do I go about doing this? I do not have the funds/time/energy to do a personal one-on-one suit. Neither would it be worth it for $3400. However, there are probably thousands of others like myself. As a matter of principle, I would like to ralley these “others” .

Stever, please give me your input. I am very busy with buildling my company – so I can not afford to divert my attention to too great of an extent.

Thank you so very much.

God Bless you Steve!

Sincerely,

Lindee”

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

The Answer

Dear Lindee,

I’m so sorry you run in this situation. I’m glad you followed the process I laid out here.

I think now the best thing to do for you is not to embark on a class action suit, but to follow the rest of the process.

17. If you still have not received a fair and reasonable refund then contact your local court and find out how to sue the debt settlement company in small claims court for your refund. Typically the amounts claimed are eligible to be pursued by individuals this way. And if you go this route all those documents you’ve place in your special place will come in very handy, Take them all with you when you go for your court date.

18. If you are not confident to file your small claims suit then find a local consumer advocate attorney here.

19. If you have left the debt settlement program, remember to still take care of your debt. You can click here to find a local bankruptcy attorney, seek information about credit counseling, or seek out a performance fee based debt settlement company. Regardless of which avenue you choose, just do something. Doing nothing is not a viable option. – Source

Everything you have done up to this point in your refund process has laid the groundwork for you taking the final steps above if you want to get a refund.

I’m going to forward this page URL to folks associated with Lloyd Ward and see if that can’t get you some action as well.

If others come forward and post comments about similar experiences it will help you to find people to maybe one day create a class. For now let’s just focus on you winning here.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

Big Hug!

I Want to Start a Class Action Lawsuit Against Lloyd Ward & Associates.   Lindee
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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Sande45

    Someone please get in touch with me if you know how to get your money back from LWA. They took me for $6,000.00 and I need that money before I have to go to court and to stop the judgments againts me. I would like to know who to contact for the class action lawsuit. And it sounds like there are 1000snd of others who also need help.We need to stop this and not let them get away with stealing money from inicent people.

    • Sharonbayert

      what Im doing now is filing bankruptcy, this is going to get rid of lawsuits against me.. Hope this is of some help to you.

  • Sharonbayert

    I would like to know if there are any class action lawsuits pending at this time against Lloyd Ward and Associates? If so please let me know I would like to join in on the suit ty… sharon

  • Mlmcastino

    Hi there TO Everyone who has been disappointed by Lloyd Ward~ Our family has also posted here with Steve, Feb 18th, 2011. We’re OUT thousands to Lloyd Wd and have truly gotten NO service from them for the money. We also have NOT transfered funds from Noteworld To Global yet, as we’re leary about everything now. We DO want ALL of our money back as their fees are SO wrong and out of control. Yes, we started just before the October 2010 ruling. We want OUT and will do better just paying off the debt on our own. We’ve already settled 3 of the cards unbeknownst to Lloyd Wd. Didn’t need them… OR their “help”. They took our precious money and left us empty! Not too sure how to proceed, but we all do NEED to do something. This type of abuse/ bullying has got to END soon! How about now!!
    Parents that need HELP!

  • Mlmcastino

    Hi there TO Everyone who has been disappointed by Lloyd Ward~ Our family has also posted here with Steve, Feb 18th, 2011. We’re OUT thousands to Lloyd Wd and have truly gotten NO service from them for the money. We also have NOT transfered funds from Noteworld To Global yet, as we’re leary about everything now. We DO want ALL of our money back as their fees are SO wrong and out of control. Yes, we started just before the October 2010 ruling. We want OUT and will do better just paying off the debt on our own. We’ve already settled 3 of the cards unbeknownst to Lloyd Wd. Didn’t need them… OR their “help”. They took our precious money and left us empty! Not too sure how to proceed, but we all do NEED to do something. This type of abuse/ bullying has got to END soon! How about now!!
    Parents that need HELP!

  • Steve Rhode

    Not retroactive.

  • Deputyd444

    One more question, does the Federal law that took effect in Oct 2010 covering debt settlement companies and how they must settle at least one debt before taking their fees apply if you started a few months before? Is the law retro-active?

  • Steve Rhode

    I would suggest you follow the entire process as I laid it out.

  • Deputyd444

    Steve, Lloyd Ward is into me for approx. $4000 since May of 2010 and they’ve not kept any of their promises, done anything they said, or settled the first one of my debts. Is sending a certified letter to get my money back the way to go or do I need to file complaints with all those other agencies?

  • Deputyd444

    Steve, Lloyd Ward is into me for approx. $4000 since May of 2010 and they’ve not kept any of their promises, done anything they said, or settled the first one of my debts. Is sending a certified letter to get my money back the way to go or do I need to file complaints with all those other agencies?

    • http://GetOutOfDebt.org Steve Rhode

      I would suggest you follow the entire process as I laid it out.

      • Deputyd444

        One more question, does the Federal law that took effect in Oct 2010 covering debt settlement companies and how they must settle at least one debt before taking their fees apply if you started a few months before? Is the law retro-active?

      • http://GetOutOfDebt.org Steve Rhode

        Not retroactive.

  • anita11

    Gene,

    My BF joined LWA last May and now they are negotiating two small accounts for us. Those accounts are suppose to be easy to settle since they claim they have good relationship with the creditor. It has been 2 wks and we haven’t heard anything. After reading all the posts on this site, I don’t have any confidence in them. We are prepared to cancel the program if nothing good come out in next couple wks. Please share your progress of getting refund on this forum, if necessary, people who lose their money to LWA should fight together. Good luck.

  • Gene

    Wow, I just came across this email regarding Lindee’s experience with Lloyd Ward and it is exactly the same as my experience…to the tee! The dollar amount is different but otherwise spot on! I am going to follow the same advice you outlined for Lindee today! Also, if we don’t get satisfaction, count me in for the class action approach! Let me know via this forum if you need my contact information.Gene in NJ

  • Gene

    Wow, I just came across this email regarding Lindee’s experience with Lloyd Ward and it is exactly the same as my experience…to the tee! The dollar amount is different but otherwise spot on! I am going to follow the same advice you outlined for Lindee today! Also, if we don’t get satisfaction, count me in for the class action approach! Let me know via this forum if you need my contact information.Gene in NJ

    • anita11

      Gene,

      My BF joined LWA last May and now they are negotiating two small accounts for us. Those accounts are suppose to be easy to settle since they claim they have good relationship with the creditor. It has been 2 wks and we haven’t heard anything. After reading all the posts on this site, I don’t have any confidence in them. We are prepared to cancel the program if nothing good come out in next couple wks. Please share your progress of getting refund on this forum, if necessary, people who lose their money to LWA should fight together. Good luck.

  • Steve Rhode

    Look at bankruptcy? You might want to read this article for guidance.

  • Ella

    Hello,

    I have a similar situation with Lloyd Ward & Associates. I paid them 1192.28 per month for 10 months and only one very small debt was settled for about $600.

    Then just last week I was slapped with a lawsuit from Chase and I have another creditor calling saying they too will sue me.

    I have just begun the process of canceling my relationship with Lloyd Ward & Associates while trying to get a full refund following your guidelines.

    If there is anything I should do beyond your helpful guide, Steve, please let me know!

    Thank You,

    Ella

  • Ella

    Hello,

    I have a similar situation with Lloyd Ward & Associates. I paid them 1192.28 per month for 10 months and only one very small debt was settled for about $600.

    Then just last week I was slapped with a lawsuit from Chase and I have another creditor calling saying they too will sue me.

    I have just begun the process of canceling my relationship with Lloyd Ward & Associates while trying to get a full refund following your guidelines.

    If there is anything I should do beyond your helpful guide, Steve, please let me know!

    Thank You,

    Ella

  • LADYD14

    DEAR STEVE I AM IN THE SAME SITUATION AS LINDEE THE ONLY DIFFERENCE IS I ENTERED INTO THE PROGRAM WITH LLOYD WARD AND ASSOCIATES IN JULY OF 2010 AND I AM NOW BEING SUED AND I CANNOT GET IN CONTACT WITH THEM PLEASE HELP WHAT CAN I DO RIGHT NOW ABOUT MY LAWSUIT D.KLASS

  • LADYD14

    DEAR STEVE I AM IN THE SAME SITUATION AS LINDEE THE ONLY DIFFERENCE IS I ENTERED INTO THE PROGRAM WITH LLOYD WARD AND ASSOCIATES IN JULY OF 2010 AND I AM NOW BEING SUED AND I CANNOT GET IN CONTACT WITH THEM PLEASE HELP WHAT CAN I DO RIGHT NOW ABOUT MY LAWSUIT D.KLASS

  • Steve Rhode

    Glad I could help. I sent some behind the scenes emails on this and
    “suggested” to the company they needed to fix this situation. Glad to
    see they promptly did.

    Thanks for the update.

  • Lindeebean

    Please ignore my post about engaging others to form a class action lawsuit against Lloyd Ward and Associates. The firm has very kindly refunded all of my money. A man name John Brutsche’ from the company contacted me; he was pleasant and helpful, and did indeed have the funds returned to my checking account. Due to the new law that will go into effect on Oct 28, 2010 (wherein debt settlement companies can not longer take up-front fees), what I experienced will no longer be an issue for other people seeking debt settlement help.

  • Lindeebean

    Please ignore my post about engaging others to form a class action lawsuit against Lloyd Ward and Associates. The firm has very kindly refunded all of my money. A man name John Brutsche’ from the company contacted me; he was pleasant and helpful, and did indeed have the funds returned to my checking account. Due to the new law that will go into effect on Oct 28, 2010 (wherein debt settlement companies can not longer take up-front fees), what I experienced will no longer be an issue for other people seeking debt settlement help.

    • http://GetOutOfDebt.org Steve Rhode

      Glad I could help. I sent some behind the scenes emails on this and
      “suggested” to the company they needed to fix this situation. Glad to
      see they promptly did.

      Thanks for the update.

    • Anne

      This was great to read this. Thank you. I too have paid them $6K in fees up front and have no proof of any  money paid to Chase. I wonder if I call Chase would I find out if anything has been paid?  I too am curious about a class action suit.  But first will try what you did.   Thanks for your posting and thank you steve.

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