I had done everything in my power to makes ends meet but unfortunately I had fallen short on a few bills One in particular I was behind and I owed over $15,000.00 I decided to get some help and called Debt Settlement of America. I originally wanted to enroll several accounts with Debt Settlement of America decided to only enroll one thank gosh for that. They said they would assist me and help to negotiate a lesser amount to settle the debt I owed to my creditors. They made it sound like it was a for sure thing and that my credit would benefit from there help. After them convincing me I hiring them I thought at the time it was the right thing to do I was hoping that all my troubles would be over and I could finally breath and get out of debt. I started paying them monthly payments of $385.00. The calls from the creditors got worse the credit card holders they wanted their money understandable and as all of you know debt collection calls can be harassment. After a few months and more calls I contacted Debt Settlement to ask them how the negotiations were going they referred me to Jim Foster. Jim told me that they have not start negotiating as of yet until there were enough funds in my account I asked how much need to be in the account to start he told me that no less than $7,000.00 had to be in my account for them to start. Now it does not take a rocket scientist to know that it would take 18 months before $7,000.00 would be the account for them to start negotiations. With the monthly payments to Debt settlement of $385.00 a month I could have used that money to pay the creditors that monthly payment this would have saved face and creditability with creditors not to mention the relationship all together. At the time during the signing with debt settlement I was never told or communicated too that there had to be $7,000.00 in my account to start this process. I would have not signed up I am no dummy I would have to be brain dead to do something like this when I could have paid the creditors the monthly payment I was paying Debt settlement. This gets better I had accumulated $1,800.00 in the account with debt settlement however during this time my credit and the calls from the creditors got worse. So I decided to cancel with debt settlement and ask for the money in my account to be refunded back to me right. Well here is the kicker they had no problem canceling the account however they issued a cancelation fee of three months payment this adds up to $1,100.00 just to cancel with them. Not one person during the time of signing up with debt settlement mentioned anything about a cancelation fee, definitely not three months worth. They also failed to inform me of the tax implications associated with doing something like this I believe its called a 1099 tax penalty that I would have to pay taxes on the difference not paid.in summary I paid on this account for 6 months at $385.00 to debt settlement and accumulated $1,800.00 they took $1,100.00 for cancelation fees I ask you where the justice in that is. They took my money for doing nothing. Moral of the story work it out with your creditors they are willing to listen and help not rip you off.
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