In March we came into financial hardship. Illness, loss of work, the economy decline were some of the reasons we became overwhelmed with not enough money to cover our monthly creditor payments..
We came across FINANCIAL RESOLUTIONS FROM NEW MEXICO, offering to bring us debt free within 36 months. It was the answer we thought to our large burden upon us now. We were made to believe that they could take all our stress away regarding our creditors and we did not have to worry, they would handle everything. We were to give them the list of creditors, the amounts owed, all account numbers and STOP PAYING ON THE ACCOUNTS IMMEDIATELY! At this point we were current with them all.
When asked how much we could pay toward a "savings plan' each month, I told them we could take our money from our money market accounts and IRA'S and put that toward the savings. But I also informed them that our income was very low, as Ted and I were out of work and Ted had a heart attack and that he was retiriement age. The only income for sure was his social security and a part time job I had as income. Once the money market money was gone. Then the money to be saved each month could not be the same. This was told to Peggy in the beginning. She set the payments up very high at first, and little did I know, and did not completely understand that all of the first money was to go to satisfy their fees etc. Nome of the first $4,000 was used to satisfy any of our creditors..
Looking down the road. We needed money to live and still be in this program. Ms Yeazell could have foreseen the future and been able to tell us that this plan was not for us. We have $40,000 in debt to negotiate down to $22,000 according to Financial Res. Our future income was limited to social security and only $300 a month I would take in. Total yearly estimated income: $16,000. How could we ever make this work? According to this company we had nothing to worry about. It would all work out.
We are not savvy in this type of program. We came into this program leaving all the worries to them and they should, be professionals in this line of business, be able to tell us if long term it would not work. They should have denied us the contract and allowed us to take our hard earned saved money and negotiate on our own or deal with it the best we could with our own money we had at the time.
The main goal for FINANCIAL RESOLUTIONS, was to lock us in, no matter the outcome and they would have the fees and from then on, it would be a game of chance for us. They had us sign so many papers that we now read better, being more accustomed now to what they do, and we can see that they take themselves out of any and all responsibilty to us. They make no promises that it will work and they even say we can be sued, which now has been done.
We are being sued by two of the larger creditors for the original amounts in the beginning plus any further finance charges and late fees which have been added on since we stopped paying. We don't know what to expect now, as they can take any wages we earn in the future and latch onto our bank account and put liens on our property. We are in worse shape now, 1 and 1/2 years later that we were back then. It is all a mess and we have nothing any longer to work with. Now FINANCIAL RESOLUTIONS has suggested we file bankruptcy, and they still have near $4,000 of our money. They negotiated 3 of our very small accounts and that is all. They made no contact with the large accounts because there was never enough money to to that with and they knew we could not scrape up any more. They took us for a long ride and I've had problems with them along the whole way. They avoided my concerns that this is not working and we still had to pay $60.00 a month to the company that held our money until it was used, thus, taking $60 from our money each month for that..
This company is a bad rippoff and we want our money back so we can get on with our own negotiations. They did not fulfill their obligations as we see it and now have left us hanging. They will say they did everything promised, but we found that they have issues with how to handle their business and I had to get them going several times. Their response was always the same: Relax, don't worry so much, let us do the worrying for you". Thus, here we are. What they did for us we could have done in the first month..
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