GIBSON TRUST Inc. RIPOFF Unreliable and Untrustworthy affected my credit Pompano Beach Florida
This company promises to help pay off your debts and reduce your monthly payments without adversly affecting your credit.
Not so! I and others have fallen for their promisses only to have our accounts delinquent past 60 or 90 days. Even though they received my payments regularly (via bank draft), they have failed to make payments to my creditors on time. The last bank draft wasnt even taken. They were supposed to take the money out on the 19th of October and it's already the 25th! They were supposed to pay my creditor in September. They didn't!
I've received several notices from my creditors that the account was delinquent 30, 60, and 90 days! This company isn't reliable and I would suggest that if you've got excessive debt or just want to consolidate your debt for more cash each month, to either suck it up or look elswhere for help. These guys are detrimental to your financial well-being.
You see, we initially started our consollidation with them so that we would have more cash readily available to us each month. It would have allowed us to make purchases with cash instead of generating more debt. The exact opposite happened. Now that we've got to make late payments and associated fees, we are in a situation where we've got less to work with than when we started! Thanks to Gibson Trust, we're spending more than when we first came up with the idea to consollidate some of our debt!
Russell
Parker, Colorado
1 Updates & Rebuttals
Ronda
Edmond,Oklahoma,
Get out of debt on our own!!!
#2Consumer Suggestion
Tue, October 29, 2002
I want to make a suggeestion to all the people who find theirselves in the same shoes we were in not to long ago.
We have all gone to Gibson Trust for help in getting out of debt. For what ever reason, we all got to a point where we knew we were in trouble and stuck in this neverending cycle of minimum payment to our creditors just to stay afloat, 0nly to see our next statement go down little or not all all.
Through out my battle with Gibson Trust, I have learned alot and hope that what I have learned will help others avoid the pain and financial destruction we had to endure.
As you have already read in my complaints on this site, We went to Gibson Trust for help and we all know how the story ends.
Gibson Trust did not help, but only contributed to us accumilating even larger debt than before we started with their service.
The biggest thing that I have learned is that we need to pay the debt off ourselves and not let anyone else profit from our bad situation.
We all know to well that the not for profit banner is a big joke and that these companies truly are making a huge profit.
These compaines that claim they will get you out of debt by working with your creditors are not out to help us. The small fee that they tack onto your monthly payment seems so little until you figure out that $49.00 per month x 48 months= $2,352.00
If you end up in their program longer, it costs even more. I used the $49.00 per month fee as an example. Some companies may charge more or less.
I figure there must be thousands upon thousands of us Americans who have surcombed to the buy it and charge it life. It is all to easy.
Then before you know it, you are a slave to the world of credit cards.
My hope is that we can all learn to take control of our finances ourselves by working with our creditors on our own.
I have found a website on the internet that I wish I would have known about before I ever fell into Gibson's trap.
It is all about finances and has some really solid and truthfull options to try before surrendering to a company that says that they will get you out of debt if you only use their service.
the website can be found at www.lifeordebt.org
The solutions that they mention are no quick fix as we all hope for.
But, just like going on a diet, we all have to work hard at staying away from the things that cause us to fall into debt.
Right now my number one enemy is the credit card industry. They are making millions off of us as well.
I recommend that you all invest in getting out of debt and staying out for good and one way that I have found that truly will work if we apply it is found in a book and video that I have purchased.
This reading and viewing information was money well spent, costing $24.95 to gain a world of knowledge about finances.
I have a very long way to go and I am trying real hard to apply these principals to our budget.
After, we no longer had any credit card debt because we were forced into bankrupcty, I thought that we are finally out of debt and can start fresh.
However, I failed to think of our car payments or mortgage as a debt.
This book will help you realize that any payments you owe anyone is a debt.
I have learned that if I can not pay cash for what ever I need or want- I do not buy it until I can pay cash for it.
I laugh now when I go into a department store and the cashier clerk informs me how I can save 15 or even 20% off my purchase if I used their credit card to purchase the items.
I feel real good when I reply back to the cashier that if I charged the items, they are not really paid for and I want to walk out of the store with items that are paid for.
The look on their face is worth a million to me.
It feels like freedom when you know that you bring something home and it belongs to you and not the bank or a credit card company.
I want that for our life and I want to be able to live a good life with no debt.
Companies like Gibson Trust prey on people who have fallen into debt.
Knowledge on how to handle our income is the best weapon to use.
I hope constantly for the down fall of Gibson Trust and other companies just like it.
If we all learn how to stay out of debt we can put them out of business, because I can almost guarentee you that our Government and Attorney General's Offices will not. They are going to continue doing nothing and more people are going to continue being victimized.
I hope the very best for all of you.
We have a long struggle ahead, but after the almost two year battle I have had with Gibson Trust, I know I can do it.