“Dear Steve,
Almost 1 year ago, heavy with too much credit and high interest rates, we decided to put all $30,000-ish of debt into the “care” of Lloyd Ward/ Best Debt Options. They promised to work on our behalf as advocates towards our many credit card companies, letting them all know we were now represented by an Attorney Group and that THEY (Lloyd& companies) would eventually settle the debt at about 50% off of the original amount owed. And, in about 30ish months we’d be “Debt Free”. YAH RIGHT!! Thus far, we continue to get calls, threats, demands for payment, etc. from many companies. Only a few occasional emails from Lloyd Ward’s company, never a call and never an offer to pay off even ONE company!! Not even an update of what’s going on!
We finally called NoteWorld last month to say NOT to take out any more money from our bank account. I discovered we’ve paid more than $3000 to them, BUT only about $1050-ish is “ours” in a Reserve account sitting ready to eventually pay on our many debts. YIKES!! Now the question(s)….
Okay, so now what in the world do we do???? We feel stupid and very low about this. 2 of our grown sons living here w/ us say we made a huge mistake and should’ve never gone w/ LloydWard. Could we get any of that $3000/fees back, especially now that the new FTC ruling prohibits this practice?? Where to go from now? Obviously we still owe these enormous debts and need to pay something on them? Don’t wanna do bankruptcy tho. Any thoughts on this predicament? Kids are all raised, 1 still in college. Getting near 60 next month and no savings at all. Gotten to a place that IS verrrry sad, but hopefully not irretrievable. Thanx mucho for any words of wisdom.
Parent”
P.S. We got the following email.
Exciting changes from Lloyd Ward & Associates Law Firm 

Keith Hunn to you – 2/16/2011

Dear Client,Lloyd Ward and Associates is proud to announce a great improvement to your Debt Settlement Program. We are always working hard for you and constantly looking for innovative improvements to help eliminate your debt. We’ve added a powerful tool to your Debt Settlement Program by teaming up with Global Client Solutions to offer you a Dedicated Savings Account that will greatly enhance your debt program and save you money. And as of this communication to you [Are we expecting something different soon?], Global Client Solutions has an A+ rating with the Better Business Bureau. This new account will become an important part of your financial strategy for debt elimination, and a building block for a solid debt-free future. Below are benefits of your new third party administrator.
Benefits of a Global Client Solutions Dedicated Savings Account
• No setup fee
• No annual fee (currently $20 per year)
• No NSF fees (should your account become insufficient, no fees will be charged by Global at our end. This excludes charges your bank may apply) • Phone pay option (provides a more efficient creditor payout, which is to your advantage)
• The ability to stop drafts up to 12:00 CST the day before a payment is to be drafted, should you encounter an emergencyIt is very simple to take advantage of these benefits. Just fill out and return the forms that will be emailed to you the week of February 21st. This will establish your new Dedicated Savings Account linked to your Debt Settlement Program with Lloyd Ward and Associates. Each month Global Client Solutions will draft your designated bank account for the agreed upon savings amount and deposit the funds into your Dedicated Savings Account, which is owned and controlled by you. Although your next draft could be slightly delayed, we assure you that during the transition from Noteworld Servicing Center to Global Client Solutions you will not be double drafted.
In order to accomplish this, you will need to complete the forms that will be emailed to you the week of February 21st. The two forms that will need to be completed will be the Dedicated Account Agreement and the Noteworld Transfer Letter. One establishes your new account with Global Clients Solutions and the other requests that your reserve balances be transferred to Global from Noteworld.Once your account is setup at Global, you will receive a new client packet providing you information on how to access your account.
We thank you very much for your business. We know this partnership with Global will allow us to provide you with greater service in allowing you to become debt free. When you receive the Dedicated Account Agreement and the Noteworld Transfer Letter you will also receive complete instructions on how to designate your signature and how to process the forms.We are very excited about this change and know that it will be a great improvement to your Debt Settlement Program. Once you receive your email during the week of February 21st, please review all the documents. As mentioned, before we can move forward with this change we will need to get the Dedicated Account Agreement and the Noteworld Transfer Letter signed by you. There will be complete instructions on how to get this done in that email, however, if you should have any questions regarding this process, please do not hesitate to contact me, your Account Specialist, or, you may send an email to transfer@lloydwardlawfirm.com
Respectfully,
Keith Hunn
keithh@lloydwardlawfirm.com
214-296-4368
Dear Parent,
Interesting email. Thanks for including it with your question. Not quite sure how moving from NoteWorld is a big improvement but OK.
It sounds as if the company deducted advanced fees for debt settlement services which left you with the reduced balance.
Two things for you to read. The first is I hear you when you say you don’t want to file bankruptcy. I suggest you read “The Honest and Unvarnished Truth About How to Get Out of Debt.”
Second, if you want to try to go for a refund, follow this guide I wrote.
I’ve seen many people make an emotional decision to avoid bankruptcy only to wind up in worse shape and poorer.
Please post your responses and follow-up messages to me on this in the comments section below.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Do you have a question you'd like to ask me for free? Go ahead and click here.
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