Subscribe to our mailing list

X

Debt Settlement Company Success Rate Made Public – Sucks

By on July 9, 2009
Debt Settlement Company Success Rate Made Public – Sucks

Nationwide Asset Services, a company under investigation by the New York Attorney General, has disclosed that while Nationwide Asset Services promised consumers debt reductions of between 25 to 45 percent, in fact only 64 customers out of 1,981 actually completed the debt settlement plan.

This means that 97% of people that enrolled in the debt settlement program not only did not achieve those savings, but did not complete the program as well.

But retiree, Doreen Melton, says her experience with a company called Nationwide Asset Services didn’t save her money, it cost her thousands. “It sounded so good,” said Doreen. “We paid $1,800.”

Doreen and her husband Barry from Lewiston, New York signed up with NAS to help pay off $15,000 of debt. The couple says they paid $1,800 in upfront fees and were instructed to make no further payments on their credit cards. “Every month I wasn’t making payments, and every month they would add a late fee and an over the limit fee. And this was on every card. I kept getting phone calls all day long. 99% of the calls were creditors.”

The Meltons say that over the course of two years they paid NAS more than $11,000, but that the company only settled slightly more than half of their original $15,000 debt. “It’s very upsetting because our credit is destroyed.”

Get Out of Debt Guy – Twitter, G+, Facebook

READ  Carol Wrote Me And Asked "Would You Advise Debt Consolidation?"

Last step, fill out the information below or call us for Priority Assistance.

What problems are you having with your report?

Your first name is required. Your first name is required to be at least 2 characters. Your first name cannot be longer than 50 characters.
Your last name is required. Your last name is required to be at least 2 characters. Your last name cannot be longer than 50 characters.
Your email is required.
Your phone is required. Your 10 digit phone number is required.
Your state is required.
Your age is required. Your age must be greater than 18. Your age must be less than 100.

By clicking on the "Contact Me" button above, you consent, acknowledge, and agree to the following: Our Terms of Use and Privacy Policy and to receive electronic communications. We take your privacy seriously. That you are providing express "written" consent for Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS - charges may apply), even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list. Consent is not required as a condition to utilize Debt.com services and you are under no obligation to purchase anything.

By clicking on the “Contact me” button above, you consent, acknowledge, and agree to the following: (1)That you are providing express “written” consent for Lexington Law Firm, Debt.com or appropriate service provider(s) to call you (including through automated means; e.g. autodialing, text and pre-recorded messaging) via telephone, mobile device (including SMS and MMS – charges may apply), or dialed manually, at my residential or cellular number, even if your telephone number is currently listed on any internal, corporate, state or federal Do-Not-Call list; and (2)Lexington Law’s Privacy Policy and Terms of Use and Debt.com’s Terms of Use and Privacy Policy. Consent is not required as a condition to utilize Lexington Law or Debt.com services and you are under no obligation to purchase anything.

About Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Share a Comment / Leave a Reply

%d bloggers like this: