I Need to Get My Money Back From a Debt Validation Program


Dear Steve,

I may have been involved in a debt validation program.

How do I find out which escrow account my money is being deposited into so that I can attempt to get a refund?



Dear Michelle,

Oh my.

There are a few levels to this. The first concern is why it might now be clear if you were in a debt validation program.

I’m going to make some assumptions. You may have found yourself in a difficult financial situation and were unsure where to turn for help. One thing led to another, and before you knew it, you were answering an advertisement or reaching out someplace for some assistance.

The person you talked to made it sounds like there were magic solutions, and your creditors were victimizing you. They may have made you feel like the creditors took advantage of you and told you there were things the company could do to fight back.

The representative might have asked you to sign a client agreement online, and you were off to the races with the first payment.

But things didn’t turn out as hoped, and the client agreement said in the fine print that what the salesperson said to you did not count.

Before you knew it, monthly payments were disappearing from your account, and the promised results were not materializing.

I completely understand. I’ve seen this same sort of thing thousands and thousands of times.

The answer to your questions lies in the client agreement you signed, and they probably sent you a PDF electronic copy of the client agreement. See if you can search your email and find it.

That document will describe what kind of program you enrolled in, and it will tell you what the escrow arrangement is.

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

If payments are being debited from a bank account, the withdrawal may have some identifying information on your bank statement. You can always call your bank and see if they can give you some more help in identifying who is taking the money out.

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You should absolutely read my post How to Get Your Money Back From a Debt Relief Company if You Feel Like You’ve Been Scammed.

That post will give you step-by-step instructions on how to resolve your issues and concerns with the company.

Another layer to this situation is the debt. It does not sound like it has been resolved. While you are focused on the debt relief company, we have to give some energy to now finding a solution for whatever the debt mess is now.

Since it sounds as if the debt problem has aged, it might be the right time to take quick and decisive action to neutralize the debt. The least expensive and fastest way to do that is to find a good local bankruptcy attorney and have a free discussion about what bankruptcy would mean for you. Bankruptcy is the fastest way to get a fresh start for the least amount of money.

So see if you can focus your efforts on both issues. Try and track down the company, client agreement, an escrow account. At the same time, let’s put this debt situation behind you and move forward to better days.

Damon Day - Pro Debt Coach

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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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