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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?

Joseph”

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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