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What Do You Think of Everest Debt Solutions? – Margo

Margo

“Dear Steve,

I enrolled in debt settlement program with Allegro last February. I am aware of the troubles with Allegro, and the change to a receivership. I tried contacting Allegro and the receivership to find out what was going on with my account, if any crediors had been paid, and get some answers to my questions and could not get through. I recently received notice from two of my creditors that I was being sued-which indicates to me that they did not accept any settlement agreement with Allegro. I stopped my last autodraft payment to Allegro and sent a letter to their NY address cancelling my contract.

Do you know of a reputable debt settlement company? Do you know anything about Everest Debt Solutions? Bankruptcy is not an option for me since I have already filed and it was only 6 1/2 years ago. I was told that in WI you can not file again before 8 years is up. I am really worried and need to find a reputable debt settlement company fast.

Margo”

Dear Margo,

I’m not sure who told you that you can’t go bankrupt again, but they were wrong. You could do a Chapter 13 bankruptcy and that would stop all lawsuits, give you legal protection from your creditors and allow you to only repay part of your debt without any tax liability.

It is time to put these debt settlement dreams aside and pursue a real solution that will eliminate this problem debt in one fell swoop. The only option to that will be bankruptcy.

As far as Everest Debt Solutions goes, I had not heard of them before. I spent a bit of time on the site and have reservations about the completeness of the information presented there. For example, “Debt settlement is by far the fastest way to eliminate your debt …” That is simply not true. Most debt settlement clients will take years to eliminate debt using the monthly payment debt settlement approach and that’s if they even eliminate all their debt. Most don’t.

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Enrolling in a debt settlement program does not stop legal action or lawsuits and Everest mentions that on their site. “In addition to your credit being affected another potential debt settlement consequence is the risk of possible legal action from the creditors to collect on debts that you are trying to settle.”

This statement stumped me, “Work With Everest Debt Solutions and Debt Creditors Will Negotiate!” The statement seems to imply that all creditors will work with Everest Debt Solutions but that is not true. Also, I have no idea what a “debt creditor” is.

My favorite line on their site is in the footer where they say this about their website “THIS IS AN ADVERTISEMENT FOR OUR DEBT SETTLEMENT PROGRAM.” Of course it is.

I find any debt settlement company to be suspect when they don’t list their business address on their website.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.




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.

96 Comments

  • Very interesting new development. Everest Debt Solutions, FDN Solutions, and Tim Daniels Settle With FTC. See https://getoutofdebt.org/43755/everest-debt-solutions-fdn-solutions-and-tim-daniels-settle-with-ftc

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