I have been researching this debt settlement company I signed up with 10 months ago and am now starting to think it was a mistake. The company is Debt Settlement USA. He has found cases in his database that people have against them.
I joined them 10 months ago and at that time I had a 720 credit score and was current on all my payments with everyone but thought this would help eliminate my debt faster.
There goal was for me to stop paying my creditors so I would then look delinquent and they would start negotiating with my creditors for me. I have invested $4,000 over 10 months just in fees and have nothing to show for. My "program" was $594.89/mo for 3 years. $406.61 of the first 11 payments would equal there fee they require up front. The $188.28 left over each month stayed in my bank account I had just for them and obviously did not accrue to enough for DSUSA to start negotiating with anyone yet! I was told once the whole time that a creditor had made an offer of like 6,000!! At that time I only had a couple hundred dollars available so obviously I couldn't say yes. At the end of the 11 months worth of fees, my balances would then start accruing faster as all of the $594.89 was saved each month and not going to ridiculous fees. I called to cancel my program and asked if I could get all my money back if any and they said I am not entitled to it as they were performing a service during that time. Now, I just literally wasted $4,000 of my hard earned money that could have went to my creditors directly without even dealing with those guys.
Are they licensed in NY? Can they legally operate in NY state? If not, am I entitled to any of my $4,000 back? They are out of Arizona, I live in NY! I am calling around in my area to find a lawyer that handles these matters.
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