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.
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?Big Hug!