My husband’s commission from work dropped considerably and I have a reduction of hours at work. We just didn’t have enough money coming in each month to cover what should be going out with bills.
In September 2011 I recieved something in the mail for World Law Group. I didn’t fully understand debt settlement; I didn’t do my research well enough. At the time I was $500 short for the month and that was the way most months were, no extra money for even food after paying bills.
Needless to say, debt settlement seemed like it was my only way out. I signed up with World Law Group and now I must say I regret this hasty decision. We are currently being threatened with 2 different law suits. We have paid $5400 to them, they have settled 1 small account for $800. In checking with the account held with Global Client Solutions, there is only $200 in the account. The fees they have taken is making it hard to settle accounts.
Is there another way we can possibly get away from this? Are there other options? I don’t have extra money to try to deal with creditors myself. I have talked to a few, but the amounts they want I can’t give them right now. Or do I just stick it out with World Law Group and see what they actually do?
Your story is a classic example of why these advanced fee debt settlement companies don’t set you up for success. If the money you’ve paid so far had not been taken for fees before the debts were settled you’d have money to use to try to settle them right now and have a better chance at stopping the lawsuits.
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The reality is that in situations like this people find themselves sued, the creditor gets a judgment, and wages may be garnished depending on where you live.
You can certainly “stick it out” but if you want to stop all lawsuits, collection calls and eliminate your debt in three months for typically less than $2,000 then you should click here to find a local bankruptcy attorney.
I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.
It’s also possible a bankruptcy attorney could get money back from the debt settlement company that you could use to pay for your bankruptcy. It all really depends on you and what your goals are at this time.
Please post your responses and follow-up messages to me on this in the comments section below.
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