I entered a debt restructuring plan with US Financial Management of San Diego in February (I didn't want to cheat my creditors), set up monthly automatic withdrawals with USFM and made the funds available for the first 2 months.
UFMC used none of the money I had paid them so far to help my past-due credit situation. All of it had gone to administrative costs, and they still expected me to do all of the contacting of the creditors, write a "hardship" letter and jump through all sorts of other hoops.
I found another company, much easier to work with and a member of the Better Business Bureau, and notified UFMC on 4/19/06 both in writing (as USFM requires) and by phone that I was cancelling the agreement. I received an acknowledgement letter from USFM, dated 5/2/06, that the contract was cancelled.
Then, I received a written notice from my bank that my account was badly overdrawn on 5/10/06. USFM had overdrawn my account by $229 (includes $205 to USFM & a $38 overdraft penalty; $20 was in the account at the time) after I cancelled the contract in writing.
I tried calling and faxing USFM today, with no success. The toll-free phone number apparently is connected now to a fax macine. Sorry to say, USFM is one of the major links on the badbusiness.com site, making USFM appear legitimate, when they're nothing more than ripoff artists.
I need to get my money back from USFM. I cannot afford to lose more than $200 when I have bills to pay and old debts I'm scrimping like crazy to get paid off.
Now, I have to change my bank accounts to keep these thieves from illegally taking more in the future. And, I'm going to keep trying to get my money back.
Donna
Kingman, Arizona
U.S.A.
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