After researching several Debt Negotiation companies I decided to go with Stellar Debt Solutions - Big Mistake! I have paid to them appox $1000.00 that I fear I will not see again, and worse my credit is destroyed. The contract I signed with them indicated that I would be out of debt in 24 months and would have to make payments to them in the amount of $476.00 per month in order to achieve this. The only thing I am thankful for is that I did not allow them to do automatic withdrawals from my checking account every month which they really tried to push, or I would probably be out even more money.
Initially I worked with a person named Shawn Walker, he is probably paid on comission to lure people in. Anyway prior to me signing with them, he called me daily to see if I had questions, or whatever so at the time I thought - ok this company is really going to work with me. Well, Once I sent the first payment and signed contract in, I never heard from him again. When I did call him once he gave me a general customer service number to call when I had any questions. Well, whenever I called that number and was able to get through (which was only twice) the person I spoke to was less than helpful. I was very dissapointed with the service I was getting from Stellar Debt and concerned because creditors were calling me daily and my interest rates on my cards sky - rocketed, not to mention the over limit and late charge fees that were racking up.
I made a second payment to Stellar Debt and still no one ever contacted me to tell me that my account was being worked or whatever. I emailed them with questions and did not get a response and when I called their customer service number, I wasn't sure if anyone was even answering the phones there because I would just sit on hold.
I finally emailed them right around the time the 3rd payment was due and told them I wanted to discontinue the program and asked them for a refund. I got a snippy email response saying that I would only be refunded $140.00 and any other money to be refunded would be "discretionary". I of course, tried calling without any luck and responded to the email asking them what they have done with my account in the last 2 months that would justify charging me $816.00, since I had already sent in a total of $956.00. I never got a response on that email either, and I never got a check for even the $140.00 as they said would be my refund in the email.
The fees they were going to charge me for settling everything in 24 months was $1838.25, plus a $19.00/ month service fee so I cannot see how 2 months into the program would cost me $956.00 especially when I was told they did not even start to work with my creditors until I had the full amount of $1838.25 paid in full.
During this time, I also had recently moved to a new location and provided Stellar Debt with my new contact information, i. E addresses, phone numbers, etc. I only provided my address to my creditors since my phone number was unlisted and I was sick of all the calls from them when living in my prior location.
Anyway, it wasn't a week after I withdrew from the plan with Stellar Debt Solutions that all my creditors had my new telephone numbers. I cannot imagine how else they would have gotten this information. And this came after Stellar Debt assured me that they would never give any of my contact information to any creditor.
My credit is also now destroyed, I used to have a pretty good credit score, just a high debt to income ratio which is why I seeked help in the first place. I had never been late on a credit card payment until I went with Stellar Debt, but now it is completly sabotaged.
A word of advice to anyone considering Debt Negotiation is to consider doing it yourself, or working with a company that will allow you to manage your own funds.
Stellar Debt Solutions services are worthless and a complete scam in my opinion, I would like to know if I have any recourse with them, considering there is nothing in the contract I signed with them that I can see indicating if I withdraw from the program that they would get to keep all funds I have submitted to them.
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