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Sorry to Say I Also Have Fallen Into the Morgan Drexen Scam. – Alberto

By on September 6, 2010
Sorry to Say I Also Have Fallen Into the Morgan Drexen Scam. – Alberto

“Dear Steve,

sorry to say I also have fallen into the morgan drexen scam

what should I do now ? file for bankrupt,or try to work with my creditors? I am currently unemployed.Or should I try The Obama credit relief program?

Alberto”

Dear Alberto,

I’m not sure what you mean when you say you have fallen for the Morgan Drexen scam. Maybe you can provide more details in the comments section.

Here is what I am inferring. It sounds like you enrolled in a debt settlement program and it is not working for you for some reason. If you are unemployed you really should not be in a debt settlement program, you should instead explore bankruptcy. You can click here to find a local bankruptcy attorney.

The reason debt settlement is not well suited for someone on unemployment is because your income will run out before the debts are resolved. Without the prospect of a job at hand or a new job then there is no reasonable expectation you will find success with a debt settlement or credit counseling approach.

And the Obama credit card relief thing. There is no such thing. That’s a scam. Stay away from it.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

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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.

6 Comments

  1. ComplianceSlave

    December 28, 2010 at 3:58 pm

    REALLLLLLLLLLLLLLLY?
    You guys are SO good at stealing money through deception but you have NO talent at hiding it when writing positive reviews for your own company-
    In 6 months youre about to settle 4 accounts? Nu- uh. Not with MD fees…….! No way.
    Annoying phone calls have all been reduced to “marketing and advertising”? Are you saying MD STOPPED your collection calls?? Wow! Won’t the FTC be proud?
    Lastly, “They are far better than any alternative”… Such as a debt settlement program where the DS company is paid money ONLY if and when they settle and not before? What alternatives would you be so knowledgeable about?

    Go pedal your BS somewhere else.

    http://www.la.bbb.org/Business
    179 complaints

    MORE good ones……..
    http://www.trustlink.org/Revie

    And HERE:https://getoutofdebt.org/20261/
    “the president of Morgan Drexen is Walter Ledda, who was formerly a principal of National Consumer Council, a large debt settlement company in Orange County, California that was shut down by the FTC a few years ago.”

    There are some very good debt settlement companies out there- This, IS NOT ONE OF THEM

  2. RZ

    December 28, 2010 at 3:12 pm

    I have been enrolled with Morgan Drexen’s debt settlement program for approximately 6 months now and have had nothing but positive results. I have already received settlement notices from 3 of my creditors with another one to settle in January 2011. The annoying phone calls have all been reduced to typical marketing and advertisement type stuff. When I do run into an issue, it is quickly resolved with a call to my Client Coordinator’s office.
    Simply put… I’m very happy with Morgan Drexen and their associates. They are far better than any alternative.

  3. RZ

    December 28, 2010 at 8:12 pm

    I have been enrolled with Morgan Drexen’s debt settlement program for approximately 6 months now and have had nothing but positive results. I have already received settlement notices from 3 of my creditors with another one to settle in January 2011. The annoying phone calls have all been reduced to typical marketing and advertisement type stuff. When I do run into an issue, it is quickly resolved with a call to my Client Coordinator’s office.
    Simply put… I’m very happy with Morgan Drexen and their associates. They are far better than any alternative.

    • ComplianceSlave

      December 28, 2010 at 8:58 pm

      REALLLLLLLLLLLLLLLY?
      You guys are SO good at stealing money through deception but you have NO talent at hiding it when writing positive reviews for your own company-
      In 6 months youre about to settle 4 accounts? Nu- uh. Not with MD fees…….! No way.
      Annoying phone calls have all been reduced to “marketing and advertising”? Are you saying MD STOPPED your collection calls?? Wow! Won’t the FTC be proud?
      Lastly, “They are far better than any alternative”… Such as a debt settlement program where the DS company is paid money ONLY if and when they settle and not before? What alternatives would you be so knowledgeable about?

      Go pedal your BS somewhere else.

      http://www.la.bbb.org/Business-Report/Morgan-Drexen-100054427
      179 complaints

      MORE good ones……..
      http://www.trustlink.org/Reviews/Morgan-Drexen-205982947

      And HERE:https://getoutofdebt.org/20261/bbb-sends-letter-of-strong-support-to-ftc-to-ban-advance-fees-for-debt-settlement
      “the president of Morgan Drexen is Walter Ledda, who was formerly a principal of National Consumer Council, a large debt settlement company in Orange County, California that was shut down by the FTC a few years ago.”

      There are some very good debt settlement companies out there- This, IS NOT ONE OF THEM

  4. kk

    October 21, 2010 at 11:56 pm

    is morgan drexen a legit company that will help me with me debts or are they a scam. need to know someone called me to enroll in their program

  5. kk

    October 22, 2010 at 3:56 am

    is morgan drexen a legit company that will help me with me debts or are they a scam. need to know someone called me to enroll in their program

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