In January I signed with Christian Debt Management to negotiate a payment plan with four credit card companies. They required a deposit of $795 that would be returned upon successful completion of the program if all payments were made through them.
In March, CDM transferred my account to Nationwide Consumer Credit Services, not having made a single payment to the four creditors. Before signing with CDM, I was current with all payments, but having to pay the $795 deposit caused me to fall behind. Nationwide did an OK job, but I could have done better and saved myself the $38/month service fee.
Just this month I finished paying off the four credit cards with profit from the sale of my house. I was ready to request the refund of my deposit from CDM, but when I tried to phone them, none of their phone numbers worked. After further research I have determined that CDM and Debt Relievers have gone out of business, taking my deposit with them.
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