Scott
New York,#2Consumer Comment
Wed, September 13, 2006
Money Cares did the same thing to us. They collected nearly $1,000 from our bank account monthly for over 6 months. They never worked out any deals with my credit card companies, and finally I had to make my own deals directly with them. American Express never heard from them and neither did Citibank. Never use Money Cares for debt management because they will just steal your money. Now Money Cares refuses to refund my money eventhough they never made a single payment on my balances. If you are too a victom of MONEY CARES, please email me at (((email redacted - see below))) so we can win this fight together. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Jim
Flagstaff,#3Consumer Comment
Wed, August 16, 2006
First, if you and your husband were sick, where did they get the money to come out of your checking account? Second, about the fees and taxes. The only way you would have to pay IRS taxes on dropped fees are if a "Financial Institution" cancelled the debt and filed a 1099-C with the IRS and then you would only be paying taxes on the amount of the dropped fees. Third, I don't know, from your post, how you own the IRS a grand and how that amount will go up to to 10 grand. The IRS is and has programs - especially if you are a hardship case - to reduce any tax liability or eliminate it all together. And it doesn't take a lawyer or accountant to do this. Fourth, where did the additional 5 grand in debt come from and how would Money Cares be helping you with NEW debt?
Bob
Medford,#4REBUTTAL Owner of company
Wed, August 16, 2006
First, I am very sorry about Sandra's misfortunes that contributed to her debt problems. One of the highlights of our customer agreements and the issue we harp on the most with our customers is that they are not to negotiate or discuss their case with collectors. It undermines our ability to resolve the issue because the collector knows that they will do better directly with the debtor than with us. Also, collectors will frighten and lie to debtors in order to achieve the results they want. Unfortunately, Sandra fell into their trap and believed their lies. We constantly are in touch with the creditors, but time is required for the cutomer to accumulate the funds to reach a settlement. In this case, the customer undermined our efforts and did not set aside the money as they said they would. As for the IRS issue, our agreement clearly states that any amount saved over $600 may be taxable. Once again, it is likely that this wouldn't be the case here, but the customer chose to believe the collector. Even if it is true that there is a taxable issue after all accounts are settled, it still is a small price to pay to save all that money. It would be like stating that you don't want to win the lottery because you don't want to pay the tax. If Sandra would have allowed us to help her, she would likely be well on her way to financial recovery. Instead, she ruined her program and chose to believe the people she least should, the ones trying to collect money from her.