I am 55 years old, and had credit card debts of approx $60K. These guys promised me that they will reduce my debts by 50% to 30K. They took money from me for 9 months and never did anything. My creditors kept calling me and as advised by them i kept ignoring their calls. They took approximately $6000 from me and pocketed the money. Now they wont take my calls.
When i called the people who signed me up with these crooks. They said that even they cant get a hold of them. The signing company had given 10-15 clients to Networth and were supposed to get money in return. Networth took their commissions and took my money.
They are crooks, they dont offer anything in return. These debt settlement companies should be brought to justice as they take advantage of people like us. I dont have the resources to take them to court but the government should do something on our behalf.
Flynrider
Phoenix,#2Consumer Comment
Fri, October 08, 2010
"I will get you all the information you need to get 100% of all fees paid to the debt settlement company and eliminate your debt using Federal and State Consumer protection Statutes"
Sounds too good to be true? I don't know who this "Consumer Protection Advisory Board" is, but it has all the earmarks of a scam. Starting with the company name that is the same as several government agencies. Then the enticement of getting 100% of your money back from the company that initially ripped you off (unlikely without a civil lawsuit). Also a search at the IRS did not turn up a 501(c)(3) non-profit corporation with that name.
Be careful.
scamscamscam
phoenix,#3Consumer Suggestion
Fri, October 08, 2010
Hello , I am so sorry to hear about your unfortunate circumstances involving a fraudulent debt settlement company. Most companies that do debt settlements are most likely un-licensed and do not have attorneys that work for them. I work with the Consumer Protection Advisory board and we are a not for profit company that helps consumers that have been a victim of a debt settlement scam or have been stolen from. Most of these companies take their fees up front plus a percentage which is usually %25-%50 of your total debt. In most cases these companies dont settle anything until the 3rd and 4th year of being with them in the meantime you liable for lawsuits from your creditors and destroying your credit in the process. A lot of the time these companies do not advise clients that the difference between what you settle for and what is owed will be taxed back to you by the IRS the following calendar year treated as gained income. If you or anybody you may know seems to be a victim of one of these fraudulent debt settlement companies give me a call and I will get you all the information you need to get 100% of all fees paid to the debt settlement company and eliminate your debt using Federal and State Consumer protection Statutes.
Justin Allen
1-888-288-8599