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Tag Archives: debt settlement fees

The Settlement Program is Charging Me More Than They Said. – Nanci

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I agreed to a settlement program and have already paid more than the 15% in fees, because they say the first payments were not fees, but were setup charges. It was more than $7000 so it can’t be set up fees. They have made payments to the credit card companies but only one of them shows a 0 balance and ... Read More »

ABC 7 Runs Story on Big Crackdown on Debt Relief Companies

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WXYZ just ran a story warning warning consumers to beware of debt settlement companies that charge fees. It was yet another public notification that things in the debt settlement world when it comes to fees are going to change on October 27, 2010. The more that message can get out there, the better. As more of this media coverage continues ... Read More »

I Talked to GreenShield FS In Texas Recently But Still Not Sure. – Dave

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“Dear Steve, I have a lot of unsecured credit card debt (around $70,000). I hear about debt relief, debt settlement, debt reduction companies all the time, but it seems most are not very good. I gert the feeling that most clients are NOT happy with the debt relief companies they are using. 1). Are there ANY debt relief, debt settlement, ... Read More »

How Do or Can I Settle My Debts on My Own? – Shawna

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Shawna “Dear Steve, I have 20,000 on 2 credit cards and a an interest free loan of 15,000 from my mom. I would like to be able to pay off both cards with the 15,000. Is there a way to request to see if the 2 companies would reduce the amount I owe them if I paid it off immediately ... Read More »

Should I Go Bankrupt or Do Debt Settlement? – Endeudado

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“Dear Steve, I am 29 years old and 2 children and my wife. I am into too much debt that I am considering filing for chapter 7 bankruptcy. I owe 30,000 dollars in credit card debt. I have a mortgage of 98,000, a car loan, and a student loan. I am not behind on payments for anything, but I am ... Read More »

Debt Settlement Legislation to Prohibit Up-Front or Monthly Fees and Cap Fees at 5%

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Illinois Attorney General Lisa Madigan is backing legislation to ban debt-settlement companies from charging upfront or monthly fees and that caps payments to firms promising to reduce credit card debt. The legislation would cap fees at 5 percent of the savings resulting from settling a debt, rather than a percentage of debt enrolled. It also would allow cancellation of a ... Read More »

I Am Scared, Sad, and Confused About Staying in the Debt Settlement Program With Freedom Financial. – Sandra

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“Dear Steve, I emailed you yesterday and was not very clear about my situation. I would like to start by saying I am scared,confused and feel like I made the wrong decision when I chose to go the debt settlemnt route-especially now with everything I am reading. At the end of December I contacted Freedom Financial to learn more about ... Read More »

I’m in a Debt Settlement Program and Getting Sued by My Creditors. – Cathy

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Cathy “Dear Steve, We have been with a debt settlement company for about 4 months and one of the unsecured loan outfits is already trying to sue us for the 85% of the total amount plus attorney fees and late charges included for about $500.00 a month or will garnish or lean or property not worth what we owe. Is ... Read More »

Debt Settlement Companies Watch Out. Debt Settlement Talks Getting Serious Now About Banning Up-Front Fees.

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Missouri Attorney General Chris Koster will meet with both Secretary of the Treasury Tim Geithner and Attorney General Eric Holder in Washington, D.C. to discuss Missouri‚Äôs efforts to pursue businesses engaged in mortgage fraud. Geithner and Holder invited Koster and several other Attorneys General from around the nation to meet with them to discuss the problem and possible solutions. Also ... Read More »

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