I’ve finally got my hands on the letter Timeline Debt Solutions sent out as they fell out of business. It’s horrible.
Timeline Debt Solutions and RN Financial, aka R&N Consulting, had been selling debt settlement services on an advanced fee basis. They took her monthly $500 payments and deducted their fees for services before actually dealing with any creditors of the consumers.
And now you’ll see why this was always a flawed strategy.
A consumer came to the site recently and was at the end of her rope about what to do since she could not get in touch with her debt settlement company.
She says she’s paid in $8,000 in advanced fees for settlement help and instead what she got was a letter from Timeline Debt Solutions and RN Financial telling her to get lost.
Frankly, I’m just pissed off at this situation. I know, I know, I deal with this stuff all the time and I understand that companies may go out of business but this Timeline situation is a great example of how not to do this.
If you are a legitimate debt relief company, you have a duty to your clients to protect them with care. If you think you may be folding up, you need to make arrangements on making sure the clients are handled after you are gone.
Some companies have been running around trying to sell their portfolios but what they can’t seem to understand is, they took all the damn money from the consumers when they enrolled them and now their book is all liabilities.
The Kiss Off
Here is the letter sent to consumers.
I’ve been hard on Global at times but in this case, the only responsibility I see Global Client Solutions has in not screening their partners better and who knows, maybe creating a liability from themselves for being a conduit in what now appears to be an outright fraud.
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