I cannot get in touch with my debt relief company. I have 1900.00 built up in my escrow with my debt relief co. I have tried to get in touch with them, for status updates, with no response.
The numbers are disconnected and I get no response when I mailed a letter to the address. should I stop payment on my auto draft for this company? i’m scared what will happen to the unsettled debt? I’ve been in this program 3 years.
Dear Julie,It’s never a good sign when the debt relief company goes silent and missing. It would not be the first time this has happened and it won’t be the last.
If your money was being escrowed by a third-party company, you should contact them and ask for an update on your debt relief company. At the very least you should ask for a refund of the money the third-party escrow company is holding on your behalf.
Don’t be surprised if a bunch of fees and administrative costs have already been deducted from your deposits. It’s a trick some companies pull to take additional money out of the savings.
I wish you had told me what company it was so I could have researched their status further. Maybe you can share it with me in the comments. I’d need the company name, telephone number, address, and website.
I think it is safe to assume the company intentionally vanished. Certainly the odds would support that hypothesis.
In that case you are actually left with two issues. The first is trying to get your money back. The second is you still have to deal with your debt situation.
Once you’ve identified a company you want to work with, then follow my step-by-step guide on what you should look for and expect from a good debt relief company.
Please post your responses and follow-up messages to me on this in the comments section below.My Debt Relief Company Vanished and I Want My Escrow Money Back. - Julie by Steve Rhode