Scam and ripoff! Beware. After almost 2 years of being in their plan, I have had 2 lawsuites filed against me (out of 5 total creditors) both which I had to settle directly with the attorneys - Debt XS was NO HELP!
I am worse off then when I started with them - my credit is ruined and I owe even more money. The creditors will jack up what you owe them and then settle for 50% - so you may start off with a $4,000 debt, that Debt XS says they can settle for $1600 (40%) but you will end up with a debt of $8,000 dollars once interest and penalities accrue. So the creditor may then take 50% of the $8,000 and Debt XS will say this is a good deal. Debt XS has saved you nothing - and you've paid back the creditor exactly what you owe them, and have your credit ruined at the same time. Debt XS won't tell you that.
Once Debt XS tells you to stop paying your bills, your credit is done. Then Debt XS will say they never told you to stop paying your creditors - LIARS. My husband was laid off and we were forced to deal with unsecured debt - I thought this was the answer, but 2 years later they've not settled one of my accounts and I'm getting ready to be sued for the 3rd time! I had excellent credit and would have never thought of using a service like this. They prey on people who are in dire financial straits.
They also won't tell you that once the creditors send them a settlement offer - Debt XS considers its job as done. They don't have to actually settle the account for you - just getting the settlement offer qualifies even though they know you don't have the money to settle it at that time because you are suppose to be saving over a specified (usually 3 years) period of time.
On top of wasting over $5,000 I paid to them, they were unable to have any of these creditors stop harrassing and calling me, like they said they are suppose to do. NONE of these creditors are willing to work with Debt XS - that is a lie they will tell you.
If there is an attorney out there that thinks they can start a class action lawsuit - please contact me. I'm sure you can find many more of us that have been suckered in by this company.
0 comments