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Is Debt Rx Legit? – Rochelle

Rochelle

“Dear Steve,

I would like to know if Debt RX is a legit company and How accritable are they?

Rochelle”

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The Answer

 

Dear Rochelle,

I don’t know anything personally about Debt Rx. They identify themselves as a debt settlement group on their website.

If they have had an issue you could contact the Montgomery County, Maryland, Office of Consumer Protection at 240-777-3636. The office is run by Eric Friedman, a great guy and an aggressive consumer defender.

Debt Rx is really:

Debt Settlement Group
13017 Wisteria Drive
Suite 443
Germantown, MD 20874
www.debtsettlementgroup.com

(301) 972-9152
Fax: (301) 972-9244
E-mail: [email protected]
Mr. Davis Franks

Since they are primarily a debt settlement company I would urge you to investigate your debt settlement options carefully. I am getting more complaints from people that are in monthly payment debt settlement programs that they are getting sued by their creditors since payments are going to the debt settlement company instead of the creditor.

I have personally seen great settlements with lump-sum debt settlements but you need the cash on hand to get the best deals.

Debt settlements also come with issues. Anytime debt is forgiven you may owe income tax on the forgiven debt and it will appear on your credit report as a black mark against you.

Before you decide to go with any debt settlement company I think you should also get a free bankruptcy consultation from a local bankruptcy attorney. You should also contact a second debt settlement company, click here for debt settlement information, and compare what the different companies are telling you they can do and how much they will charge you.

Armed with the information from the bankruptcy attorney and the second debt settlement company, you will be in a much better position to determine if Debt Rx is right for you.

I hope that helps.

Steve

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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.

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