A tipster (send in your tips here) sent in a request for me to look at BestDebtSettlementProgram.net and look at the claims the site actually buys the debt of the consumer.
The site claims to:
- We Buy Your Debts!
- Much Faster Results Than Most Debt Settlement Programs
- Pay Only 55 Cents for Every Dollar You Owe – Guaranteed!
The site also claims that:
- Debts Settled For 55 Cents On The Dollar GUARANTEED! (With Our Fees Included!)
- Your Debt Is Bought Out Upfront – You Will See Results In Months! NOT Years…
- Free Attorney Hours – We Will Defend You In Court If You Are Summoned And/Or Do A Bankruptcy If You Choose To At No Extra Charge!
- We Have Set Fees With No Upfront Fees!
- No Power of Attorney, Which Means The Client Has 100% Control Over Their Money – Not Us
With our program, clients experience Immediate Relief from their debts. We buy out your debts upfront on the promise that you are going to pay us back. Once enrolled in our program, your credit report will show your balances cleared out, so that the credit repair process can begin! No more collection calls! You will have one affordable monthly payment to make and that’s it. – Source
They also say:
What customers really want is “immediate relief,” not a promise of relief in several years. Because we provide “immediate relief,” our affiliates lose fewer customers. The industry average shows debt settlement companies retaining two thirds (2/3) of the clients they sign up. In our program, we retain five sixths (5/6) of clients, which is a one sixth (1/6) retention rate gain. – Source
The site is actually owned by Paul Vrieling of HotLiveLeads (HotLiveLeads.com) and appears to be a lead generation site and not an actual service provider. The site does not list any street address on it and it was registered on September 8, 2010.
The claims by the site seem unreal. I am not aware of any source that is buying the bad debts of consumers for a future promise of repayment. Nor am I aware of any network of attorneys that is providing free legal assistance, including bankruptcy.
The claims of a guarantee for a consumer to pay only 55% of their debt seem totally unsupported as well.
I have added the email address of the site owner as a subscriber to the comments on this post in hopes they can shed some light on the basis of their claims.
If anyone has any insight or experience with this site, please post your feedback in the comments.