Complaint Review: Superior Debt Services - Fort Collins Colorado

Superior Debt Services is an outstanding organization to settle debt The title of my responce says it all. Last year my wife and I were about to file for bankruptcy. There organization has saved us from disaster. We started with almost 25 accounts which were handed over to Superior. So far almost 50 % of the accounts have been settled. No threats of lawsuits. It has been quick, effective, and well worth the time and energy. This organization earns every penny that they recieve. Also Melissa has been wonderful as our account manager. They have been willing to do anything possible to help us get out of debt and assist us when possible.

Unfortunately the inaccuracies in Kathi's complaint are too numerous to list here but are detailed in our response to her complaint filed with the BBB. However, in summary, Kathi seems to have forgotten that she added two accounts to the program in August 2006 (per her amended agreement signed on 8/12/2006) which increased her payment and the amount of fees collected. She has also incorrectly calculated the fees charged by the 3rd party escrow firm that managed her settlement funds. A detailed account analysis of all transactions processed by this escrow firm was emailed to Kathi on 3/12/2009 (last Thursday). This analysis provides incontrovertible proof that the discrepancy of $1528.26 was actually a gross miscalculation on her part due to these two errors. In point of fact, this transaction report (to which Kathi has online access but which is also contained in the statements she admits she received from Rocky Mountain Bank and Trust) shows that a total of $12,629.64 was deposited into her account with bank transaction fees of $293.80, retainer fees contractually agreed to by Kathi of $3,925.74 (15% of original debt) and total settlement payments to creditors of $7,484.98. This nets to a escrow balance of $925.12 which is the exact balance currently reported by Rocky Mountain Bank & Trust. Five of eight accounts Kathi entered into the program have been settled, saving her $6,535.51. Again Kathi's numbers are incorrect in that these five settlements represent $14,020.49 of debt based upon the current balances or $8,770.71 based upon the original balances. More could easily have been settled if additional funds had been available and, in fact the largest account settled was completed only because Superior Debt reimbursed nearly $600 from fees already paid. Without the $600 Kathi would not have had sufficient funds available to complete the settlement. She correctly states that she owes $22,605.87 for the three accounts remaining. The balances on these accounts totaled $17,400.92 when she entered the program and, as the agreement Kathi signed clearly states (Client understands that contracted creditor accounts may accrue interest, late fees, and applicable penalties until a mutually agreeable settlement has been reached), account balances may increase over time until settlement is reached. Kathi's complaints about lack of contact from her member services representative certainly are not reflective of the numerous notes that document emails proactively informing her of settlement offers and providing timely responses to her questions. Our initial communication with every client details how to add our URL so that our emails will not be categorized as junk email. It is possible that Kathi failed to follow these instructions, however, our notes do document responses from Kathi to most of our emails. The agreement Kathi signed clearly states the possibility of legal action by a creditor in their attempts to collect on a debt. Kathi blames this legal action on our failure to contact the creditors, however, our records document the fact that contact was made with her creditors in both cases. Settlement offers were available on both, but only one account was settled due to lack of sufficient funds. Again, Kathi's final statement is full of inaccuracies. She claims the company has not negotiated in good faith, but five of eight accounts were settled for a savings of $6,535.51. She states that she will still owe $19,674.40, but in reality, the remaining three accounts could have been settled already if funds had been available. Even based upon current balances, this remaining debt could be settled for $11,000 or less. If you would like more information regarding this report or Superior Debt Services, please feel free to contact John Wilson at 970.530.5090.