I had been working with Jubilee/DRCOA for almost a year to resolve a number of debts. They did resolve several debts on my behalf at 30 cents on the dollar (and my credit report verifies this), so I had no reason to suspect anything amiss. Last month I even borrowed several thousand dollars against my 401K so that they could resolve my remaining debt and clear my credit for good.
Where's the money now? The check was cashed but my creditors never paid. So now I'm out of a 401K, I have to repay the loan which I took out against that, plus I still owe my creditors who never received a cent of the money in the first place. My debt has just doubled. And I owe the creditors the full balances, not the 40-50 cents on the dollar I was hoping to settle for.
I'm contacting everyone I can think of, including the FTC lawyers named in this site, so that some redress can be made, and I recommend everyone else do the same.
Barbara
New Brunswick, New Jersey
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