I’m On a Small Pension and Debt Relief Options Wants to Sell Me Debt Settlement. – Joseph

“Dear Steve,

about 70000 in debt .small pension

is this co legit? debt relief options of Frisco texas. have a deal for debt settlement $648 a month for 71months which will be a struggle for me as on small pension but no one has come in that low. They have lawyers available at no extra charge and entire fee is 14 or 15 % of total debt has to be paid first year or so. sound good what do you think?


Dear Joseph,

Debt Relief Options appears to be an odd company. It is located in the same suite or down the hall from these other debt related companies: New Leaf Debt Settlement, DebtXS, Consumer Law Associates, Debt Zero Processing, Dextral Capital, Liberty Now, EFA Processing.

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

A look at the connections between some of these companies found they share common ownership with other debt related companies.

Two issues come to mind right off the bat.

First, the number of interconnected companies that are delivering debt relief services is alarming. It appears to be several sales groups as front ends that then fuel the processing companies.

Second, since you are struggling to get by on a small pension, and if you have no big assets out there then I don’t see how a debt settlement solution is right for you at all.

Before you do anything, click here to find a local bankruptcy attorney, and go talk to them about what bankruptcy would mean for you. Since your pension is most likely protected from bankruptcy it may be possible for you to discharge your debts in a few months and for a legal fee of less than $2,000. That would be the fastest and least expensive way out of this situation.

Please post your responses and follow-up messages to me on this in the comments section below.

Damon Day - Pro Debt Coach

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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.
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1 thought on “I’m On a Small Pension and Debt Relief Options Wants to Sell Me Debt Settlement. – Joseph”

  1. 100%, no question, they are bogus and you should not even consider enrolling into their plan.  I don’t need to know anything else other than they are trying to put you on a 6 year plan.  The reason nobody else has quoted you a payment that low is because they were being honest with you and letting you know that settlement will not work like that. 

    These guys are absolutely trying to hose you and only care about getting your money.  There is no way a 6 year plan is going to work without getting sued. I wouldn’t even take their calls anymore.  When they start talking lawyers, I am guessing they are fronting that to try and take your money in the front half of the program and dodge the new laws designed to run these scoundrels out of business.  I bet a large part of those payments are going to them in fees, which is why they won’t care if you drop out of the program a year down the road.

    I agree with Steve, meet with a Bankruptcy lawyer right away, if you will potentially lose some assets going that route or would have a ch 13 payment that would be too high in order to protect that asset, or are just unsure about the bankruptcy option in general, then schedule a phone consultation with me and I will go over some other options, but stay away from calling any debt settlement companies right now.  Most of them don’t know how to do anything but quote payments, which isn’t what you need right now.

    These guys in Texas are either greedy or ignorant of your chances of success, and my guess it is much more the former, and probably a bit of the latter. 



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