So I made the mistake of going with Destination Debt Solutions to help with my payday loans. I've made three payments to them and had gotten letters from some of the payday loan companies that payment arrangements have been made. However, they are not being paid. I've given up trying to communicate with Destination Debt Solutions as they refuse to return my phone calls.

The weird (and good thing) is that the company they use to "hold the money," Global Client Solutions is holding the money (minus the fees) in an account.

I'm pretty sure I'm screwed on the fees I've paid some far. I'd like to know what steps I need to take end my arrangement with this company. I'm assuming I need to revoke authorization from Global Client Solutions (they are the one's drawing the funds from my account/listed on my bank statement). There's a little over $600 in my account with them that I can use to pay off one or two of the smaller loans and then make my own arranements.

Just seeking some advice here and thanks and advance for your help.

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Read THIS for more info on Destination Debt Solutions. Also check their rating with the BBB.

As far as revoking a ACH with Global, that may be done if you cancel with DDS. Read your contract carefuly, some consolidation companies may hold your monies or a certain percentage if you cancel.

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i was using a similiar company and had made 3 payments, i had a little over 700 in my account. i cancelld it and i knew they were going to take their fees out but they sent me a check for 280.00. i just paid them 420.00 for nothing. they told me as soon as i had enough money in my account they would pay off a loan. the smallest loan i had was 400 so that money set there for 2 months and they didnt payoff anything. i should have taken everyones advice and just done it myself from the beginning. i could have atleast had somthing paid off by now versus giving all that money to a company that didnt do anything but take it out of my checking account and sit on it. i almost woundered if they were drawing intrest off the money.

when i signed all my contracts they gave me a cancellation paper luckily i held on to it so when i cancelled i just filled it out and faxed it in. but i also called and emailed later that day to make sure somone got it and processed my request. they spent a few days trying to "save me" as a customer but finally they just gave up and said ok we'll cancell it. good luck.

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Unfortunatelly some consolidation companies are strict with their cancellation policy. Some unfortunatelly do charge some sort of cancellation fee and/or percentage of your savings

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I never used one of these companies and I am not sure how they work BUT am I wrong to think that these people do nothing but create a savings account for you and charge a fee?

I see more and more complaints about them not doing any of the work except take your money.

You have to close your account and contact all the PDLs. The illegal lenders won't work with them or if they do you end up paying way more then you legally owe. You still get harrassing calls at work and at home from the illegals that won't work with them. And for the legal company they will usually work with you anyway and set up a payment plan.

All these companies do is take your money, remove their fee and then stick what is left in a savings account and then use that money to pay off the loans for you.

Am I missing something here? You can do all that yourself AND save money as a lot of the illegal lenders can be written off when you close you account if you have already over paid them.

I mean is there more to this then meets the eye? Some super secret connections going on in the background?

Heck send me your money and I will do the same thing for $$$ a month.

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You are spot on nohiogal!

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This the the company that caused me to find this board. ZFrom the beginning, I have tried to steer poeple away from them. My experience from the creditor side was awful. They would not return calls or when they did, they were full of hollow promises. We continued with our collections process and ultimately got them to pay us 4 months soon that thier proposal stated. If my customer would have just returned the calls that we were making, she could have saved alot of time and trouble. In fact, due to the customer, she probably would have gotten a better repayment plan!!! She can thank DDS for messing everything up!

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I actually was listening to the radio yesterday and a commercial came on for a consolidation company (won't say who), but when I heard it, I said to myself "Hey, I signed up with them but cancelled in the 48 hour window..." Its basically paying someone to hold on to your money AFTER they take their fee for holding onto your money. If that were the case, I can save money under my mattress for free!

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Yeah that was my whole point.

I wonder if these companies were created by PDL companies. :?

I mean just open your own savings account, place money in it and save up to pay off the loans yourself.

I am sure the legal companies work with them but they would work with the customer as well. No use paying someone else to pick up the phone and make the arrangments for you.

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I don't understand your point...

Why would I, a legal lender, want to deal with a company that tries to force me to hold a past due account for 6+ months? I get nothing more on the loan if it is paid in 6 months or on it's due date. My concern is getting my investment back. In the case of the customer that I mentioned, we made numerous attempts to contact her and they advised her not to return any calls for PDL's. If the customer doesn't have the money to pay me, then why pay 30% "commission" to some else to get to the same end point?

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I fully agree with nohiogal.

That question has been posed on this forum before. It would be conveinent to be in kahootz with a consolidation company. Watch your fees balloon up on your PDL accounts while the consolidation company sits on your funds.

Dont get me wrong, some do work, but the success stories are minimal here :?

PDLOwner I think nohiogal. may be reffering to Illegal lenders that charge outrageous settlement offers.

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Sounds like a great idea, but there is reason there are not many consolidator's. Most PDL companies see them for what they are and will not work with them.

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Yeah, just my 2 cents.

Unfortunatelly the consumer finds that out the hard way after 6 months of consolidation fees

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You're exactly right, but that is not the PDL's fault. Just as in the case of my customer, she could have saved a lot of money and hassle if she would have just called! It is just like the mortgage scam, where you pay extra for making 13 payments instead of 12 each year. A person does not need to pay someone to do either task.

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I agree with your point. You can settle it yourself half the time as nohiogal also stated.

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Calm down, you have already stated your side.

I should have clarified that I meant created by illegal lenders.

I mean legal lenders would never try such tactics as hiding the true nature of the business.

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