i’m about $38,000 in credit card debt as a result of a divorce and an stupid lifestyle. I signed up with Freedom Debt Relief and after almost 4 months it feels like the wrong thing to do esp. after reading that some banks won’t deal with them and you end up in a bigger hole than what you started with. I’m 70 years old and have a steady income.
I signed up with a debt relief company and just recently read disparaging comments, horror stories, greater debt, class action lawsuits in a half a dozen state and a dark grey area of “what have i done now?”
Is it advisable to withdraw from the program?
I don’t know if it is advisable to withdraw from the program because I don’t know enough about your specific situation.
You say you are 70 years old and if you have saved all the money you need for retirement or have tremendous assets you need to protect, then it is possible a debt settlement program might be the right choice for you.
Has Freedom Debt Relief had some issues, yes. But if you look at nearly all big fee debt settlement companies that have been around for more than five years it would be darn near impossible to find one that doesn’t or hasn’t.
Those companies that were charging advance fees for their services, like Freedom Debt Relief was up to 2010, are the most likely companies to have run into trouble.
The Scott Law Group went after the most companies I think. You can see the list of companies here.
Please post your responses and follow-up messages to me on this in the comments section below.