Why shouldn't you do business with debt xs?
Simply put - They are liars and all they want is your money; They do not care about you, nor will they work hard to deliver upon promises that, in most cases, can never be fulfilled.
My wife and paid Debt XS nearly $2,000 for the following: Ruining our credit rating, a near devastating legal battle, hundreds of dollars in legal fees penalties, and months and months of harrassment and stress. My advice?
Do not ever do business with debt xs! If you are already a client, cut ties now, get your money back and start dealing with a lawyer instead.
Here's a lot more about our Debt XS "Experience"
In our credit card debt has ballooned out of control; We couldn't afford to pay down the debt ourselves, and my wife and I were desparate to find someone who could help reduce the financial burden. We initially contacted the credit card companies themselves, but were told that we already had the lowest interest rates available, and that they could offer us no additional assistance. I found Debt XS through an online advertisement and sent them an inquiry email.
From the start, we were made promises of getting rid of our credit card debt without penalty and accrued interest, from the credit card companies, and without ruining our excellent credit score. THESE WERE ALL LIES!
Regrettably, we entered into the Debt XS "Debt Elimination Program". We paid a hefty initial monthly fee based on the amount we owed to "setup our account". Were then told to begin saving an estimated monthly amount that would go towards settling our outstanding debt, and that we were to keep them up-to-date on our savings progress. THESE WERE ALL LIES!
We were told not to talk to the credit card companies, no matter how many times they called. We were also told that they would be in constant contact with our creditors until the day came that we accrued enough finds to pay for a minimum of 40% of our debt on one of the credit card companies that we chose to settle with. THESE WERE ALL LIES!
We were contantly harrassed by our creditors - We had never not payed our bills, and didn't know what to do. We began to get very anxious about joining their program, and asked Deb XS for help - They supplied us with a generic "Cease & Desist Communication" letter that we mailed to some of the several third-party collectors that were contacting us at home and and work. The letters did nothing to curb the harrasment. Debt XS informed us that these were just "scare tactics" and that the credit card companies would use any means necessary to get us out of their program and start paying them money again - They assured us that this was the way the process went, and that they would settle our debts as soon as we had the funds available. THESE WERE ALL LIES!
THE ENTIRE TIME WE WERE ENROLLED IN THEIR "PROGRAM" DEBT XS NEVER MADE ANY ATTEMPT TO CONTACT US! - All correpsondence with the company was initiated by us. Not once did a client relations rep ask how were doing or how much money we had saved towards settlement - Why? Because they had gotten our money from us, and that's all they care about. We soon begin to feel that Debt XS would not be able to deliver on it's business promises. An awful confirmation of our earlier suspicions arrived later that year
In October of I received a call from the local Sherriff's office about a Summons that had been issued against us by one of our creditors. CITI Bank was suing us for the amount we owed plus interest that had accrued from non-payment, which had began almost a year earlier when we joined the Deb XS program. CITI Bank was prepared to take us to court to get their money. This can't be, we thought - DEBT XS NEVER INFORMED US THAT WE COULD BE SUED BY OUR CREDITORS!
Panicked, we immediately contacted Debt XS for help yet again - Their "Litigation Department" told me that they could forward us to a preferred legal representative for an additional fee - We were already struggling to save for settlement and did not have additional funds available to pay for legal represntation. Debt XS told us that the lawsuit was "not a big deal", and that the worst they could do was put a lein on our home. We were scared and outraged.
Luckliy, our family stepped in, and directed us to a local lawyer who took over all dealings and communication with Debt XS. Oour lawyer also worked directly with the lawyers for the CITI Bank. We were able to obtain a loan for 50% of the amount that we were being sued for, and told Debt XS that were ready to begin settlement negotiations. Just 24 hours later, Debt XS responded with a settlement amount that they had "negotiated" - It was more than what we had originally owed to CITI Bank before we enrolled in the Debt XS program. We declined the original offer and demanded that they negotiate a more reasonable settelement amount. Debt XS responded by saying that CITI Bank would not be willing to negotiate our account with them, and that they could not settle. We were stunned.
Through our lawyer, we soon found out that Debt XS had never contacted CITI Bank, or any of our other creditors to inform them that we were enrolled in their program; However, since CITI Bank was now aware of that fact, they informed us that their company policy was not to negotiate with any customers who sought the help of a debt settlement or debt consolidation company. Basically, Debt XS would never have been able to settle our account due to the CITI Bank policy. We could pay the full amount or go to court, and we had less than 2 weeks to make a decision. DEBT XS COULD NOT SETTLE OUR DEBT ACCOUNTS, AND DIDN'T DO ANYTHING TO HELP US ESCAE A POTENTIAL LAWSUIT!
Thanks to my wife's family, we were luckliy able to obtain a bigger loan, and ended up paying the entire disputed amount to CITI Bank, as well as the other accounts that we owed money to. We immediately demanded a full refund from Debt XS - We were told that we were only able to obtain a maximum of 2/3 of the almost $2,500 that we had paid them, and that 1/3 of the money was dependent upon services that they felt they rendered during our time as clients - In other words, even though they couldn't settle any of our accounts, we were only legally entitled to 1/3 of our money. We submitted a review request, and were told that, since they had provided us with 3 generic letters (like the one mentioned earlier above), that entitled them to the second 1/3 of our money. I fought and badgered them for nearly 4 months before finally giving up and accepting our 1/3 amount refund offer.
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