Square One Debt Settlement LLC- Need information about this company

for all the requests for information on companies we are not allowed to do that its called solicitation. No one here should be advising you to use any company only to give facts. Its sad that we cant share a good company with you, but that would open the doors to employees that work for these companies to come in and flood the forum with "so called sucess stories" it happens all the time now with the rules in place. this would be a walking advertisement if we were allowed to do this so its a good rule. so do some searches on a few companies and start to narrow it down.

Now if your not sure wich is best for your situation consolidation or settlement consider this.

consolidation is best if you can swing the payments for a long period of time. its better for your credit, and reduces % and fees. but it will be a long time so be sure you can commit to the payment.

If you cant do that settlement is next in line as best. this is were you are becomming late and will not be able to make the payments soon and know you cannot commit to a payment for a long period of time ie, job loss, illness, etc. you need to get rid of the debt and fast.

Hope this helps you should research both programs more, these are just the highlights so that you can make the best possible decision when it comes to your finances

How and why when using one of these companies can you still get sued? They are suppose to representing you and settling your debt.

Most settlement companies are not attorneys and cannot represent you. Yes indeed they are acting upon you for you, but this is the facts about settlement.

You stop paying and start saving.
Now if you choose a good settlement company after about 3-4 months of saving they will discuss settlements with these creditors and negotiate. Sometimes the creditors get tired of waiting. The shorter the term of your settlement process the less likely of getting sued. but you still can get sued your not paying. Most companies just settle easy because they want thier money without dealing with court or the chance you file bk and they get nothing(7) or get very very little every month(13). but some go hard its the chance you take with settlement

Ok im haveing a hard time accepting that the worker's there use a hotmail or so on email address. Can i ask why they have no business address for email? If you can hael with this Capricorn thanks.

You say in your response dated 3,23,09 that creditors can continue to call. I just spoke to a rep from Square One and he claims that w I will be signing a power of atty. and that the creditors will then be able to contact Sq.1 Who should I believe?

I chose square one after doing a lot of research. So far so good. They were the only ones I found with a decent BBB rating.

You worked for a DEBT settlement but don't even know how to spell it? Don't make the mistake of posting a blog unless you know how to spell or use spell check. As for square one....pretty much anyone can achieve the same result or get help for FREE. I think its a scam. They told my mom that B of A would settle for 2000 on a 22000 dollar debt! That's such BS.

This Company has lied to me.They explained to me one thing till I signed the contract and now 4 mo later I discovered the whole intire thing,I lost almost $2000 and I can't gett it back.I am the only one that works in my familly, I have to support 6 of us.They told me in 3 years i will be debt free, and they're fee is only the first 3 mo payment on 529 and after that I have to pay 198 a month for 3 years. Now they told me all the money for 3 years is they're fee, They wants you to save money and pay the creditors.So they gett paid 4000 for 3 years from you for what?Don't gett involved with them.

this is the answer about the calls, listen i signed power of attorney to my settlement company that i used. it does not stop the calls completely. if they tell you they will they are lying. it will slow them down but not stop the calls. the power of attorney that you sign gives them the permission to talk to the settlment co about your account. it does not mean that they are the only ones they can contact. it is your account and if they wish they will still call you if they wish to scare you or dont like what the settlement co offers them. the creditors are usually good about working with the settlement company but there will be a few that will still call and try to shake things up.

I knew upfront that they could still call. i was given a card to put by my phone what i should say if they called and hang up. they shouldnt lie to you about this fact.

Why can't Squareone and other debt companies let you know up front how much there fees are? After making a budget sheet for my payments of 725.00 monthly for 48 months on 55,000.00 debts, they could not tell me what fees were theres. They did tell me that the first 3 months would be there fee to get things started. I told them that the 725 monthly was just to much money for me to pay each month and I can't go over $600. After a week went by, I was told that one of my creditors had taken the charge that I owned them (10,000) and taken it off there records. So, now they said that I will pay them 568.00 monthly. Now I keep getting different calls from different employees, which is like having the bill collection agency calling all the time. So I don't know who these other people are and if this is a good idea. Square one is listed with BBB as not rated because they haven't been in business that long. This company is fairly new and it takes years for them to be rated as good or bad.

I have been with square one for 3 months. They have taken $3000 from me. I want to settle on an account and because it is not in collections they (square one) don't call me back, I get pushed from one person to the next. They are the worst. A negotiator there said at first that she dealt with bank of america. That is a lie. Bank of America does not deal with settlement companies. The response I have gotten from square one is that the people at bank of america have bad attitudes. So WHAT? If I had known that when I signed up I would not have signed up with square one. I realize in hindsight that these people are crooks. Don't get fooled by all of square one's credentials, I visualize them in a sweat room working from phone to phone.
The guy who signed me up, Henry was a nice enough guy. But HE is NOT with Square One.

I have been in debt settlement with square one for about 15 months now. I have settled 3 accounts already and have many more to go. If you went into the program with square one, you saw exactly where every penny in the program goes. At first you do pay some fee's, and then you start saving money for the settlements. Thats the way debt settlement programs work. BOA probobly wasnt lying when they told you they didnt work with debt settlement companies, because directly, they dont. BOA, as every other creditor out there, sells the account to collections when you dont pay. Then square one, or whoever you are dealing with, goes in and settles the account once the funds are built up. In direct response to the post above this, call the debt analyst that signed you up. I've called my rep at least a dozen times and have ALWAYS recieved a call back the very same day, if not the same hour. I have had difficulty getting through to customer service before, which is why I called my rep in the first place. How easy is it to get through to capital one's customer service? Its not. customer service is customer service. When I need answers I get them, simple as that. I dont know Henry, but if he signed you up, what do you mean he's not with square one?

Bottom line, debt settlement, at least in my experience with square one, does work. You need to go back and speak to your rep and or read your contract. They do exactly what they say and after settling 3 accounts already and working towards the rest I am very pleased with my results.

I used square one and signed up a little over a year ago in april of 08. I have settled out only one account so far, but I only had 2 accounts. The representative that signed me up explained the way it would work. I was upset with the collection calls at first, but then they went away. I dont know if square one made them stop or if they just went away, but my rep told me they would stop after 3-5 months, and it was somewhere around 4. everything has went the way they said it would so far, and i am happy with this.

i sayt the same as above, call your representative that signed you up and speak to them if you dont get through to customer service. if you believe everything the credit card companies tell you then why did you go into debt settlement in the first place? probobly the same resson i did, there was NO OTHER WAY OUT. the credit card companies are the real crooks and i could have never gotten out of this debt on my own. of course you can be sued, your neighbor or anyone can sue you or anyone else. but it hasnt happened to me or my neighbor who i also referred to square one.

however you visualize henry or anyone else working in some sweat room, the fact remains the same. YOU got into debt that YOU could not get out of on your own, so YOU paid a company that could help you with it. I did the same thing, and its working. give it some time, i cant speak for the rest of the companies out there, but square ones program does work.

It's too bad that people don't know how to write or spell these days. I just canceled my services with Square One today. I was in a hopeless situation that I take full responsibility for. I looked to them for help, and YES I read the fine print. All they did was collect money from me and I ended up making ALL of the settlements on my own. I could have saved a good chunk of money if I had just called all of my credit card companies from the start and told them about my situation. I would NOT RECOMMEND Square One or any other debt settlement company to anyone. Talk to a Credit Counselor who you do not have to pay, but is simply there to ACTUALLY help you get out of debt responsibly.

And I signed up a close family friend with them, so I get to see both sides. Let me address all the points here. Debt Settlement companies cannot stop original creditors from calling, but they can stop the 3rd party collection agencies from calling. So, once your accounts have been sold to collections they will stop. If your accounts are large, it can take a year or more to save up enough to negotiate them. So, yes, it is possible that they won't be able to do anything for you right away. As for Bank of America, they are negotiating with us directly, without it having to go to collections right now. My friend tried to negotiate with them herself, was very persistent, but they gave her the run around. They are consistently giving us better than average settlements.

Our sign up procedures clearly go over our fee and where every penny goes. The contract also contains a page with the same spreadsheet. We have the best BBB rating that I have found so far, and we are accredited members of TASC.

As I am on this forum, our competitors are, too, so read between the lines. This forum does not require people to register, so anyone can say what they want anonymously.

I wouldn't bother working with a company whose representative can't even write a message without glaring grammar and spelling errors!!!!!