A tipster (send in your tips here) sent me information about a relatively new website at thedebtcompany.com and alleged it was the new enterprise of someone I’ve written about before.
In looking around the website I noticed a number of things and I’d like to get your feedback and opinion on the site.
The website says they are located at:
The Debt Company
3240 Professional Dr.
Auburn, CA 95602 – Source
A search of the State of California records of registered companies could not locate a company called The Debt Company.
The website at thedebtcompany does not provide any corporate ownership information i could locate.
The telephone numbers listed are 800-926-7030 and 800-927-4388. – Source
The website appears to be geared around the referral of consumers to attorney model debt settlement firms. the site says:
Once your debt has been analyzed by our professionals, The Debt Company matches you with a law firm specializing in the type of debt relief you need. Our technology allows for streamlined enrollment, with fast and easy online signature and debt program explanations. An agent from the law firm you’ve been aligned with will make the trip to you, conducting a personalized, face-to-face review of your debt program. Any questions you have can be answered in person during this meeting, with a caring and skilled professional who explains your debt relief program in detail.
While not stated, this appears to be geared towards evading the FTC Telemarketing Sales Rules that prohibit advanced fee debt settlement programs, except under certain situations such as face-to-face selling and a possible attorney loophole.
The site also says:
This website is an advertisement that provides consumer leads to debt resolution providers and law firms.
So it appear The Debt Company is not a debt settlement company at all, but a website designed to generate leads. Yet the site gives the impression they deliver direct consumer services:
The Debt Company mantra is Support & Service! Our debt qualifiers are certified and required to complete in-house and outside training courses prior to evaluating consumer debt. The Debt Company’s number one focus is to place consumers in programs where they may eliminate their debt as quickly and as stress-free as possible. Our debt resolution placement system is designed to relieve consumers of unnecessary harassment from their creditors and make sure the process is as easy as possible.
The Debt Company’s organization, leadership, experience and technology gives our customers the confidence of knowing that their financial future will be put in the right hands. With our services in place, our certified experienced personnel will always provide our customers with the service they deserve. The Debt Company has proven to be a “Win Win” experience for our customers nationwide. – Source
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This was Kevin Devoto’s new company..if you are not familier google this gem.
Have you had any experience with the company you can share?
They did marketing for columbia law center, they appear out of business now. . They were using a fee enrollment model. IE consumer enrolls for $500, which is paid before they start service. It was billed to the consumer as a “setupt fee”. They had the consumer charge this fee to a credit card that they were enrolling in the settlement service, clever eh?