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I’ve Been on a Debt Management Plan with Allegro Law and Need Some Answers. – Dustin

Dustin

“Dear Steve,

I have been on a Debt Management Plan with Allegro Law for 1 1/2 years, Just found out about this whole deal with Allegro Law, as my creditors are calling me to see why they haven’t received a payment for the month of July, when I spoke to one of my creditors she stated that i should make a payment myself so I am not dropped from the program.

My Question to you is If I stop the collection of the monthly payment from my checking account to Allegro Law & start sending the payments to the creditors myself will the creditors leave me on my plan as long as my payments are always made or will they drop me since the payment is not coming from Allegro Law.

When will the receiver distribute the funds that are currently being held due to the freeze of the company.

Dustin”

Dear Dustin,

I have been in touch with the receiver over these issues. The receiver appointed by the court to take over the Allegro Law intends to keep the operation flowing as it was. The hard and unknown part is if he can get it all back in operation quickly to disburse the funds that are on hand.

He has moved all the funds from the accounts they were in to a new bank but goodness knows what the status of the automatic debits are from client accounts to cover the next payment.

In a few days a new website and contact information is supposed to be made publicly available. I’ll update the comments section of this previous question I answered about Allegro with any updates I get. Go subscribe to the comments or leave a comment on that question to automatically receive updated comments as they are posted.

If you have the cash it would be better for you to make the delayed payments to creditors so you are not dropped from the program. It will not hurt you to do that.

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I am fairly confident that the Allegro Debt Management program will get back in operation by the receiver but I’m not sure how quickly. The receiver is not a debt management specialist and is walking into a hornets next, blind.

I do know this for certain, it will be a mess for a while.

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About the author

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.

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