To make a long story short, we contracted with Edge in August to negotiate settlements on our debt. We paid a $600 retainer and were told that we would be provided debt coaching and Edge would negotiate settlements for our debt and advised us that if we followed the program, we would be debt free in 2 years. After 2 years with the program, and as we continued to pay money to Edge for settlement of our debt, and our credit continued to go downhill, Edge negotiated only one successful settlement after one year.
I began complaining that they needed to get the show on the road and get things settled and paid off so we could begin rebuilding our credit. A couple more settlements were negotiated, albeit I personally ended up speaking to and negotiating directly with the creditors the exact service we were paying Edge to do and then Edge went back into do nothing mode. I threatened, cajoled, begged and pleaded with Edge to finalize settlements with all our debtors. They dragged their feet again and again for 2 more years. I would offer to finish the remaining negotiations on my own and step out of the program, but they threatened to keep our retainer since the return of the retainer would not take place until the successful conclusion of the program.
In January after more than 3 years of watching our credit be destroyed, I finally just took the bull by the horns and negotiated and paid off the last 2 creditors. Immediately prior to that, Edge had contacted me to settle one of our accounts for 4 times the original balance, which I declined. I made one phone call and was able to negotiate a settlement of the original balance, no additional finance charges or fees. Now Edge refuses to return our retainer to us even though they breached the contract numerous times over the years.
They ignore my phone calls, e-mails and correspondence, in an attempt to what I believe is wear me down until I give up and they keep my money and go on. I have filed complaints with their local BBB, who has rated them UNSATISFACTORY. The BBB has logged 114 complaints against Edge Solutions, primarily for sales practices (they lie) and customer service (they ignore you), as well as billing/credit issues (apparently I'm not the only one who has been ripped off).
Anyone who is in a position to shop for a debt consolidation company is somewhat vulnerable and desperate. I have learned the hard way 2 very important lessons: #1 — do NOT hire Edge Solutions no matter what they say under any circumstances, and #2 anyone in this position is much better off going to a non-profit credit counseling service or working with your creditors yourself to set up a repayment plan that works for you.
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