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World Law Debt / Golden Financial Services – Consumer Complaint – 5-3-2012

Date This Problem Happened: August 23, 2011

State You Live in: New Jersey

Race/Ethnicity: White

Age Range: 51-65

Total Amount of Fee Paid: $5,000

Company Name: World Law Debt

Company Address:

2201 Donley Drive Suite 250
Austin, Texas 85012

Company Telephone Number: 866-243-6931

Website of Company: worldlawdebt.com

World Law Debt / Golden Financial Services   Consumer Complaint   5 3 2012

Consumer Statement:

I, like others who have reported similar issues to you, have been scammed by World Law Debt and Golden Financial Services.

It began when I sought the help of a loan modification service to help me get my home mortgage modified.

I was then introduced to Paul Paquin of Golden Financial Services who strongly encouraged me to enroll into a debt settlement program.

I had already consulted a nonprofit debt management program, but I was told that the payments would be too high and that the chances were slim that my mortgage would be modified with that high of a budget.

I was assurred that this debt settlement “program” was “lawyer-based,” and provided with example after example of how success they had been in negotiating with creditors. I was told that this was a much better option than bankruptcy. I was told that I would be provided with legal counsel from attorneys, that my creditors would stop calling me, and that, if sued, I would be provided with assistance.

The “program” required me to “deposit” funds into an account that was to be used for the settlement of my debts with my creditors. I did not understand that these “depostis” were — accept for a very small portion — upfront alleged legal fees for the services that I was going to get.

After months of making “deposits,” my creditors became increasingly more aggressive. Creditor after creditor stated that they had not been contacted by World Law Debt. And, as a matter of fact, the ONLY settled account was with Kohl’s — an offer that was first made to me, after which I directed them to World Law Debt.

After “depositing” over $5000 with World Law Debt and having “settled” only one account for a total of less than $700.” I exercised my option to terminate my relationship with World Law Debt and requested the return of my “deposits.”

This week I received a check from Global Client Solutions (an affiliate of some sort with World Law Debt” in the amount of $57.79! All the rest of my money was retained by World Law Debt (or Golden Financial Services … or World Law Direct … or by whatever names they seem to practice under.

What I did not get was legal services, counsel from an attorney, or relief from endless calls from my creditors. In the end, there were no negotiations with my creditors, I have lost my credit, and I need the money I “deposited” to pay an attorney for the only option that exists for me now — bankruptcy.

Consumer Action Taken:

I have made numerous phone calls. I have documented countless emails requesting communication with the attorneys they promised to provide.

I was patient as I was transferred from one “legal assistant” to another. I believe I have tried everything to resolve the problems. However, I do not believe that resolution is a possibility because they took my money and I am now in deeper debt and afraid that I will lose the modification of my home which states that if I file bankruptcy the mod can be terminated. I have read numerous complaints on the Getoutofdebt.org site about these unholy alliances of companies. They have to be stopped. They are taking money from desperate people and robbing them of their security. This is a crime!

Consumer Supplied Documentation:

To: Sedrick Rector
[email protected]
800-374-1009 (Phone)
866-314-1610 (FAX)

Sedrick,

At this time, we are initiating termination from World Law Debt. Please let me know if there are any specific steps or forms that are needed from us to complete this process. There will be no funds deposited into our bank account for the scheduled payment on the 20th. Authorization to debit from our bank account is hereby withdrawn as of this date.

We now consider enrollment in World Law Debt to have been a gross error on our part. We have been in this program for several months, have paid over $5000, most of that in upfront fees, and we have accomplished nothing but a settlement of a very small Kohl’s account (and that doesn’t even show as settled in our “customer toolbox.” We had to change our home phone number because creditors never ceased to call and most of them have become more aggressive over time. We have now been sued by two of our creditors.

We did some research. Through information provided by the Federal Government Acountability Office and the FTC, we learned that laws were changed in 2011 prohibiting upfront fees and that debt settlement companies are only permitted to charge fees for actual savings on settled accounts. We learned that litigation is currently pending against your company in Washington and Kansas. We learned that your company has also been know or affiliated with World Law Group, Orion Processing and Global Client Solutions and that allegations brought against these companies are consistent with what we have experienced. Though you purport to have lawyers working for your company and upfront fees that have been charged have purportedly been “attorney fees,” we have not been guided by attorneys. “Legal assistants” who are not licensed attorneys do not justify the fees we have paid for “legal services.”

You have advocated that we let our accounts be charged off so that you could settle with our creditors. This has only resulted in completely destroying our credit for no good reason. We have learned that our creditors would have worked directly with us, in most cases settling for as little or less than what you suggest you will settle for. We have lost the well-earned respect that we previously had with our creditors because we have been working with your company. They have no respect for World Law Debt or for debt settlement in general. And, after spending thousands of dollars to be protected by you, we are being sued and harassed.

We are now working with an attorney, and he will be working with our creditors. He is also advising up to request “upfront fees” to be returned by you.

Working with World Law Debt has been an extremely negative experience. We certainly have not been “protected.” We have been taken advantage of. We hope that you will do the right thing and refund upfront money that was taken for “attorney fees” since we did not receive such services.

We could have worked with many of our creditors. The few that we withdrew from your program have been wonderful. We were placed in hardship programs where our principals and interest were reduced, and in a matter of months, we were able to restore our credit. The truth is that the only creditors who were a credible threat to us were the Bank of America Credit Lines a CitiBank. In addition, the two commercial accounts (Staples and Capital One) that your “lawyers” supposedly said would be appropriate to include in the debt settlement will not work with you and have already informed us that if Kyra Becker continued to work through World Law Debt that they would then sue our nonprofit organization. World Law Debt knew that these accounts were in both [X]‘s and the nonprofit organization’s name, yet you told us they would be appropriate for your program. Now we may have to hire attorneys to stop our nonprofit from being sued, as well as us.

We have tremendous regrets that we allowed World Law Debt to guide us away from the nonprofit debt management organization that we were going to work with. There are no upfront fees attached, and they exist to help consumers to get out of debt. Now, it is possible that our only option is bankruptcy. And, truthfully, the consequences of bankruptcy will be no greater than what your program would result in. Our credit will be destroyed, but we will not be threatened with lawsuits, harassed by creditors, or denied credit for any less years than we will as a result of working with World Law Debt.

Please confirm receipt of this letter and confirm as well that we are terminated from your program.

World Law Debt / Golden Financial Services   Consumer Complaint   5 3 2012

World Law Debt / Golden Financial Services   Consumer Complaint   5 3 2012


If you feel you’ve been financially hurt by a debt relief company and deserve a refund, read these step-by-step instructions on how to proceed to attempt to get your money back.

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World Law Debt / Golden Financial Services - Consumer Complaint - 5-3-2012 by

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This is information that was submitted by a third party and not generated by GetOutOfDebt.org or Steve Rhode.
  • Johnnie

    I agree with Ray. It’s a self serving website. Also the World Law contracts state exactly where the money from each deposit goes so that there is no mystery. Steve Rhodes please look into so called complaints before blindly posting. The experience of creditor and debt collector calls described in the article is one that would be experienced regardless of debt settlement company. Some companies are better than others but the bottom is that if a consumer does not have the money to settle or pay in full right away then they have to accumulate enough funds for a settlement or full payment during which time calls, actions, and litigation can occur.

  • Johnnie

    I agree with Ray. It’s a self serving website. Also the World Law contracts state exactly where the money form each deposit goes so there is no mystery. Steve Rhodes you should look into so called complaints before blindly posting. The experience of creditor and debt collector calls described in the article is one that would be experienced regardless of debt settlement company. So are better than others but the bottom is that if a consumer does not have money to settle or pay in full right away then they have to accumulate enough funds for a settlement or full payment during which time calls, actions, and litigation can occur.

  • Ray

    This site is only used for the “Get out of Debt Guy” to get additional business for himself.  Shame on him for slamming legitimate companies.

    • http://GetOutOfDebt.org Steve Rhode

      Is your issue the consumer complaint about World Law Debt or Golden Financial Services. Which specific company do you feel has been slighted, and why? I’m happy to address your issue but specifics are needed.

  • HeleneEsker

    Hi there. Although I don’t know who  Global Financial Services is, I used the services of World Law Debt. They were great. They understood my issues and I felt like they really cared. Of course there are fees, so what. I still ended up saving a bunch of money at the end and more importantly my monthly payments were affordable. I am not really sure why people listen to others on the “internet”. If it were not for World Law, I may have lost my house or even worse, I may have had to file bankruptcy.

    • Clveizer

      I am happy for you that you had such a pleasant experience. I am sure that others have as well. Situations are different for each person. I also know that many people have been harmed. I think comments on the internet are beneficial not because we should believe what other say but because we can do the research to discern for ourselves what is right for us. When one or two people say something negative, there is a good chance that it is their perception. When many people share similar experiences, there is probably some integrity in what they say. When complaints are filed with the FTC and attorney generals, the integrity of the story goes up. I know that there are those such as you who have benefited from debt settlement, inlcuding those who have worked with World Law Debt. I am one who is in the company of many who did not.

  • Margaret

    This is almost identical to what happened to us. We tried to do home loan modification and hired American City Equities ( Jean Paul Schwartz) to help us prepare the paperwork. He said that to qualify for home loan modification we need to settle some credit cards, and recommended Golden Financial Services. I was always wondering if he is somehow connected with them.
    We contacted Golden Financial, and Robert Ramirez ( Paul Paquin subordinate) assured us they can settle our debts promptly. It happened in October 2011, and we figured out by February 2012 that World Law Debt is just taking money from us and not doing anything. Our creditors told us they had no contact with World Law Debt representatives. It was almost impossible to reach them by phone, and they didn’t respond to emails.
    We canceled the account with World Law Debt in February after paying them $3200, and they didn’t settle a single account. Our credit rating obviously was destroyed.
    This week we received a check for about $300 from Global Client Solutions. They refused to return the rest.
    We contacted a lawyer who tried to talk to them without much result, and we are preparing a lawsuit now.
    We also filed a complaint with Texas Attorney General.

  • http://www.facebook.com/profile.php?id=100000716382279 Sally A. Fosbrink Whited

    Thanks so much for posting this! I’m supposed to have a call @ 4:00 PM to confirm my sign up.  I’m so thankful I waited till Monday to go through with this. Now I know the information I need to make an informed decision.  Obviously it will be NO! Can’t thank you enough.
    Sally Whited