I’m not going to tell you the name of the company I called. Their site is a bit ambiguous if their settlement services are under the attorney model or not so I thought I’d hear what the pitch was. Sadly, it was just business as usual.
Here was my scenario. I called as a guy $80,000 in only credit card debt and the debt was mostly on cash advances due to an uncontrolled gambling problem. I said I owed Discover, Citibank, Bank of America, and some others.
The sales rep didn’t do any screening and went right into the pitch. There was no mention of any need to address the underlying problem gambling issue and the program was beneficial because my payment would be reduced.
I was quickly sold the following solution.
- A 60 month program.
- Settlement fees paid in full out of the first 17 deposits.
- Settlement fees were $13,600.
- $80 per month attorney monitoring fee.
- No problem that I lived in North Carolina.
- Credit would suffer at first but would improve as I completed the program because I would have less debt.
It appears nothing has changed.
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