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I Am a 63 Year Old Grandmother and Involved With Morgan Drexen. – Sharon

“Dear Steve,

I am a 63 year old Grandma, I am involved with Morgan Drexen, have paid them $950, which is their fee. I did not realize how much they charge. I have been aware that maybe they have not alerted my creditors as to my way of resolving the debt. I am being sued by Chase now, I just received the letter that tells what to pay for now, (phone calls $55, up to over $200 for services I now need.) I cannot afford this. I am also aware that if it settled, they want 25% of the money they saved me. It is gonna cost me as much to settle it myself!

My Question is; could I call Chase, the Lawyer who is handling this and try to settlet myself. I may be able to tap my home equity even though my husband has only part time job. Then put the $150, I was paying MD on my home equity. I am totally disabled just had back surgery.

Thank You for trying to help.


Dear Sharon,

The first step should be to call your counselor at Morgan Drexen and talk this situation over with them. It sounds like you may not have any cash on hand to settle the account right now and that would certainly create a difficulty in settling the debt at all.

While you could always try to settle the debt yourself, that may not relieve you of the fee you may still owe to Morgan Drexen. More information is needed.

Call Morgan Drexen and post an update of what they say to do in the comments below.

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About the author

Steve Rhode

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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