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The Debt Answer – Consumer Complaint – 5-5-2012

Date This Problem Happened: April 30, 2012

State You Live in: California

Race/Ethnicity: White

Age Range: 36-50

Total Amount of Fee Paid: $6,186.48

Company Name: The Debt Answer

Company Address:

1001 Brickell Bay Drive
Suite 1200
Miami, FL 33131

Company Telephone Number: 888-300-9232

Website of Company: thedebtanswer.com

Consumer Statement:

I signed up with this co. back in May 2010 for a 4 yr contract to negotiate my $40K debt down to about $25K (16odd to CHASE and $6K for their services).

I am now at 2 years, and due to not being able to continue my payments, I reached out to this company for advice.

I was surprised to learn they were no longer in business, or as I was to read on Steve’s site, not doing business under this name anymore. It appears from Steve’s digging that they have indeed operated under about 10 other names.

The website was not there, the phone number answers with a non-descript voicemail and my emails were returned to me.

My radar went up and somehow thanks to Google, I came across Steve’s site. I was shocked to read the thousands of people who have dogged them along with the law firms associated wtih them. I was even shocked to see these companies being sued by their own employees.

At this point I didn’t have proof that anything was amiss and until I call CHASE i won’t know for sure what, if anything has been done for me. I have paid nearly $12,000 over two years to two law firms and the DEBT ANSWER.
1. Simon Bocksch (in Miami)
2. Lloyd Ward & Associates (out of Texas)

On both accounts – customer service is next to non-existent and trying to get the same person twice in a row in a feat in itself. I was wrong to have assumed “lawyers” or legal people were helping me. I read from one employee that filed a lawsuit against his ex. employer, how he as a 20 y.o was trained in record time to be a “Senior Debt Analyst”, which really meant that he was trained how to make out he was more impressive than his meager training. Essentially he was a telemarketer.

That aside, I am in a quandry as what to do. So far I’ve not heard back from Lloyd Ward about helping me renegitate my fee, they’ve not responded to my emails about my being in a financial bind. I did get some help two months ago from a Heather Smith at LWA allowing me a one time reduction but that was all I would ever be offered.

IF I find out CHASE has not been paid any monies, as other people have also found out, my first choice would be to file Bankruptcy, trouble is I’d need a refund first in order to pay a lawyer. If not what choice do I have but to walk away and hope I don’t land in the “debtors” jail.

I will report back as to my communications with this company. But as far as the DEBT ANSWER< they're defunct. I fully advise anyone looking to do debt consolidation, do thorough homework and only hire companies listed with the BBB. I was referred to TDA so I figured I was well-informed. Apparently not.

Consumer Action Taken:

ONly by sending emails. I will follow Steve’s recommendations to follow all the steps to get a refund, if it comes to that.

I did get one email from the firm saying how my money was being dispursed, which to my understanding meant that they were taking all the funds up front, which of course is now illegal.

The attachment I have supplied shows this. I presume my “admin” is the key word for their fees. Which would mean, that my being at month 24 has just about paid it all in full. The firs 3 they came to about $1,300 and 21 payments of about $220 ($187.12 + $45) comes to $4,620. So that would mean my fee for their services is now paid off other than a monthly maintenance fee to them.


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.

If you do get your money back, come back and leave a comment about it. I’d love to praise companies that step-up and do the right thing for people.

Scam reports are submitted by consumers like you. If you would like to file a scam report, please click here.

If you are the company named in this report and you want to respond, please read How to Handle a Consumer Complaint Like a Pro And Come Out Smelling Like a Rose

The Debt Answer - Consumer Complaint - 5-5-2012 by

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