“Dear Steve,
I have about 10K in delinquent debt from my college years. I am trying to settle and pay these accounts so that I can increase my credit score and eventually purchase a home with out filing for bankruptcy. I hired Lloyd Ward and Assoc. about 2 years ago to take over the negotiations of all of these accounts. Two years, several negotitaiors and $2,500 later, they have made NO SETTLEMENTS or attempts to negotiate with any of these creditors.
It wasn’t until recently that I received a summons to appear in court from a creditor that I really started demanding their services. The customer service is terrible but they have been ver open about the nasty split between the owners of the company.
Am I better off trying to negotiate with creditors on my own? I just canceled my automatic withdrawal from Global Client Solutions and I am starting to suspect this is all a scam to collect monthly fees and I could do a better job on my own. Please help! I am desperate to begin repairing my credit.
Jeanette”
Dear Jeanette,
The situation between Lloyd Ward and Lloyd Regner, his past business associate/partner is a total mess. There still isn’t enough clarity to know who actually owns the clients, Lloyd Ward & Associates or The Debt Answer. I was surprised to report the other day that even with all the public battles between the two entities they have not sued each other yet to try to get some clarity.
I don’t know what state you live in. If it’s not Texas or Arkansas, the two states the Texas State Bar says Lloyd Ward is licensed in, he probably could not represent you in court with the creditor.
I’m struck at the fact that unless there are some other reasons, bankruptcy might be worth considering. It would have most likely cost less than you’ve paid, prevented being sued, and if you qualified foe a chapter 7 bankruptcy your debt would have been discharged about two years ago.
Let’s start with the basics.
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.
Then use the free How to Get Out of Debt Calculator to review your options.
After that, come back here and comment about what seems to make the most sense and let’s discuss that.
Does that sound like a reasonable approach?
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Hello,
I have noticed that a convicted felon by the name of Michael A. Pflaum just started Janus Solutions LLC on July 9, 2012. I understandthat felons can start a LLC, but he is still on probation after serving 18 years in prison. He is a multiple felon. Presently, he is working in the debt relief business out of Dallas. This involves keeping records of private information for people who are having problems with money.This also involves keeping bank accounts with clients money. This money is used or not used to help pay off their debts. Some companiesare honest, some not. ABC Debt Relief LTD Co. has a F rating. Michael Pflaum has been employed there since Jan. 2011. I have informed hisprobation officer about Janus Solutions LLC. What is the responsibility of the State of Florida issuing this LLC to a felon on probation like Michael A. Pflaum?
can somebody please post the phone number where michael pflaum currently works? Â his number at lloyd ward is no longer active, since they separated. Â i cannot find the number for the debt solution if that is who he works for?
My Fiance used Llyod Ward and even though their
customer service was horrible, they actually did negotiate with 2 of the 3
credit card companies so far. The 3rd is in the works as we speak. Their
policies are screwed up, in the beginning you will have to pay them their fee
for doing all of the debt consolidating then all of your money will go into a
specialized bank account for you. Once you build up enough funds they contact
the cc companies on your behalf and try to settle a deal with them. BUT please
be aware, they take a long time to settle a deal and you need to stay on top of
them at ALL times.
The con man running the show at Lloyd ward is michael pflaum. Â Team leader and litigation specialist. Â Read more about him here:
http://michaelpflaum.blogspot.com/
Michael Pflaum does not work for Lloyd Ward Group. Â He works for The Debt Answer. Â I work for the company myself, he is not on any payroll.
Dear Jeanette,Â
Steve is spot on with his ideas and suggestions. It is a rare and warming to know that there are people out there willing to help you and ask nothing in return.Â
Being an informed consumer is always a good idea. Understanding debt collection laws helps you to deal with the fear and the unknown. There are some very empowering laws and if your informed they will really help you deal with debt collectors. One thing that most people miss the boat on is the FCRA (Fair Credit Reporting Act).Â
If a debt collector runs a credit report against you without your knowledge, permission or consent it is a clear and indisputable violation that carries a hefty fine. It can be a real game changer if the debt collector thinks your going to put the violation in front of a Judge.Â
There are procedures you must follow in order to win but they are very easy to do. 1st you have to get a copy of your credit reports. 2nd you have to notify the reporting agencies (Experian, Trans Union and Equifax) that you dispute the inquiry. You must send everything Certified Mail and keep good and accurate files. You can obtain copies of all (3) reporting agencies by contacting http://www.truecredit.com – once you have the reports and find that the debt collector has indeed run you credit the fun begins. Instead of being the hunted you become the hunter. You send a letter to the debt collector demanding that they show proof that they had permission to run your credit. They won’t be able to prove it and they know it. Once you have them in default by non-response they have a serious problem.Â
Most debt collectors set up funds that are there to pay off on smart consumers who catch them breaking FDCPA (Fair Debt Collection Practices Act) and FCRA laws. I would be happy to walk you through what I and other have done to win damages.Â
There is some study and research one must do but it can be well worth it. If you receive collection letters you always want to dispute the collection of the debt. You do not have a contract with the debt collector, never did and never will so they rely on your ignorance using fear and guilt to get you to pay them. There crooks, its as simple as that. The important thing is you have options and knowledge can be you best defence. David RobertÂ