debt group (commercials)

Here it is; $14k in debt. Quoted $301 per mo. for 30 mo. Lawyer costs would be 33% of the difference between starting balance and the settled balance. Also a 10% of initial balance due upfront (non-refundable). The company is called The Debt Group and they've been flashing around every station in New England. Law Firm is out of dallas called The Palmer Firm. BBB stated opened for 4 years, 2 complaints in last 36 mo.

Everything sounds too good to be true to me, and im young so i'd rather not get more and more caught up in debt. Lookin for a little advice whether you've heard of the company, dealt with them, or have had issues with them or law firm. It goes without saying that anything would be very greatfull.

That seems kind steep to charge 10% fees up front plus additional fees based on savings you will end up spending more than 15%. Most good companies charge 15% but spread their fees out over 18-24 months.

to be a little more detailed, the "upfront charge" was not stated to be upfront by the debt company, but it states in the legal agreement papers that upon hiring the law firm they recieve the 10%. other fees inclue a $65 per month maintenance fee, $25 for an added accounts, $25 returned check, $15 overnight delivery, the initial retainer fee (the 10%) and the settlement fee (the 33%).

the only fee that i believe lasts monthly is the $65, which would be for 30 months, "give or take"

I appreciate the response and your help.

instead of helping me thorugh this company is there any recommendations you can forward to me reguarding debt settlement companies, such as a known, reputable one.

There are a lot of other good companies. The one you spoke with has a good rep but is a little steep on their fees and I don`t like how they charge so much up front. Here are the names of some other reputable companies you can shop around with that are all members of the BBB with solid reputations. New Beginnings debt settlement LLC , Law Office of Bonnie L. Canty P.A. , Brian J. Davis, Esquire, PA, Attorney at Law , Rise Above debt relief, LLC. I suggest you shop and compare with tons of companies but these are some of the best ones out there.

Reguarding reputable companies. I found a company in Florida called XXXXXXXXXX. They charge no up front fees. They get payed once they settle the debt. Payment is done once they provide the service. Also they have a A- rating with the Better Business Bureau.

Two companies I found are XXXXXXX and XXXXXXXXXX Services. Both of these companies have good ratings with the BBB also.

What is the name of this company in Florida?

What is the name of this company in Florida

What is the name of this Florida Company and how do you contact?

If you are still looking for a company, you should try Debt Rez, they are very legit and tell you up front how the process works and their fees. They charge 15% but they spread the payments over 24 months.

Why would you pay these fees when you can settle yourself? Just go to the "sticky" and read all the info. Do these companies say at what percent they can settle? Suppose they only get 50%? That's a lot of fee....

I got 33% with Bank of America and Citibank. Worked out a payment plan with Discover. and HSBC offered me 50% (my balance was only $4200 so that was not a big deal). I did this myself, paying no one. and I kept control of my finances instead of having to go through a third party to know what was going on with my accounts.

I suspect that these settlement companies get a kickback from the credit card companies along with their fees they charge. I personally recommend Do It Yourself Settlement.

what is a "sticky"

You can do it yourself and save the fees!

Read, read and read some more all of the great information on this site.

Ask questions, ask a lot of questions.

I did on the average settle for about 30%.
My total was about 88k for about 28k.

You know what the worst part of this process is?
Giving your contact info to the settlement companies.

I think they telephoned as much as the creditors.

Got for it!