If you have contracted with a debt settlement company in the last four years you could be entitled to your money back.
Many debt settlement companies fail to negotiate or even try to negotiate all debts within 90 days.
This is illegal.
These companies are supposed to contact at least 51% of your creditors within 90 days.
But they don’t want to do the work unless you have already paid a hefty sum into their special bank account.
Some of these companies take your payments for months and months before even trying to settle your accounts.
Even worse, many debt settlement companies overcharge for the “savings” they create.
Some charge 24% of the amount saved but Michigan law limits the fee to 15%.
So for example, a $10,000.00 debt settled for $4,000.00 would mean that it would be legal to charge $900.00.
($10,000-$4,000=$6,000.00 x .15 = $900).
But some companies might charge $1,440.00 for that same service. $540.00 over the legal limit! That is over a third of the charge.
The Federal Trade Commission found that one debt settlement company discovered that only 1.4% of its customers fully completed the program!
I help consumers get their money back and there is no attorney fee unless I collect for you.
Call me at 810-232-4344 or send an email to firstname.lastname@example.org to see if I can help you.