Hermosa debt consolidation- Are they scams?

I can`t find any info on Hermosa Group with the BBB. They are also not members of TASC or USOBA. I am not saying Hermosa debt consolidation is a scam but I would shop with other companies. Companies like New Beginnings debt settlement LLC , Century Negotiations and Superior debt relief are all members of the BBB and are members of TASC or USOBA. I am not endorsing these companies or saying they are the only good ones but there are a lot of crooked settlement companies out there and this should at least point you in the right direction when shopping around.

When you see a Hermosa debt consolidation commercial you think they are the end users, but look closer. They sell your information to anyone who will buy it (Are they attornies- guess you should ask em). The highest bidder will do. You dial their number, they route you to the buyer of your call. Hermosa Group is just an ad.. There is a Hermosa company out there in the same line of work but seldom if ever are they the ones running the adds... I could disclose the name and real company behind the HERMOSA TV ADS but that might be a little too much info for now. Have a great day guys with Hermosa Group scam.... Oh. try this, call the numbers advertised for hermosa group at different times of the day and times of the weak and you will see that there are groups of end user companies who will take your call, their name will not be HERMOSA GROUP.

Where can i find a link to the Hermosa debt consolidation commercial?
personal info deleted - Jason

Don't forget, you have to pay taxes to the IRS on money you make when utilizing a debt settlement company. This is something the consumer is NEVER told upfront or ever.

That would only apply for amounts in excess of $600. More info on 1099C's here:
http://www.irs.gov/

I actually used the Hermosa debt consolidation program and am currently getting out of debt. I had no problems with them and they seem to be on the "up and up"

I am still waiting for fax from Hermosa Group

Be very careful about Hermosa debt consolidation. The things they say they can do for you and the law firm you are handed off to for your debt consolidation are not one and the same thing. The 'Hermosa Group' I dealt with is supposedly located in Colorado, and they put me in touch with the Palmer Law firm in Rancho Cucamonga, Ca. They do not disclose you will need to pay Palmer xx amount of dollars before they will even being negotiations with your creditors, and this in turn will reslut in negative credit reporting, and you being summoned into court. The Law firm will also not assist you in providing any legal advice unless you pay a fee direct to one the the lawyers they have retained in your state. These people have $2000 of my money, I just received a summons, and their attorney in my area wants an additional $1000 to represent me in court, with no settlement or relief in site. You need to check carefully before retaining this company, as they are now advertised on TV. Supposedly Palmer is no longer affliated with this company, because of the tactics they use to make you think you can get out of debt over a period of time. However, the Palmer Law firm is really not a good alternative either.

How many times does someone have to explain reality .I work for a firm that takes those hermosa group Add Calls.And after the FTC shut down a few hundred debt settlement company's ours is still standing as it has been for over 15 years.(How long have these so called GOOD company's been around.)I bet thier actually as of a few weeks ago NO LONGER IN EXISTANCE !!!!!!!!!So again tell your bosses to spend some doe and your phone to will ring.I know my rings so much I have to turn it off most of the day.I am just to busy,give it another few months and all the mortgage rejects that should have never left the factory asembley line will be back thier .(I am sure that will be the destiny of most of these rejects)!!

has anybody dealt with Consolidation credit counseling Services?

Ive looked at this page and hermosa group is getting bad reviews, i personally know of 7 people who used thier services and are very satisfied. The unsatisfied people are those who have unreaslitic expections. and as far as TASC and USOBA, thats nothing more than OWNERS of debt settlement companies who started these organizations to make themselves look good. Research that a bit. Most good companies wont be with the BBB as most BBB's give bad rating to ALL debt companies. As far as im conncered, im happy with thier services and ive been with them and the Palmer firm for 2 years now, they have almost got rid of all my debt! i highly recommmed them!~

15 Years! Wow! What company do you work for? Where is your office located? Are you hiring?

Palmer used to be a firm called Siedman. That were shut down because they were illegaly doing debt settlement that was not incidental to the practice of law. They reopened as Palmer. Hermosa Group and Palmer law group are in a retainer fee sharing model that is flat out illegal. It also appears Palmer is no longer taking clients. Probably because the extraordinary number of consumer complaints have brought their illegal businss model to the attention of regulatory agencies.

I have researched numerous debt settlement companies and eventually decided to go with Hermosa debt consolidation program. I could not be happier with my decision. They have completely stopped all of the collection calls and have settled two of my five accounts in just 6 months. I will be debt free in just 8 more months. I chose a 14 month program. I believe they will let you choose any length program to best meet your needs. And if you have some extra money, you can add it to your account and settle the debts even faster. And if the settlements are less than the projected amounts they let you keep the money. This company has to be one of the best in the industry. They also call me every month, just to check in and see how I'm doing. I am so happy with XXXXXXXX XXXXXX and hope other people choose this company. They are also members of TASC and the BBB. Solicitation Removed - ND

:lol: :lol: This is an obvious solicitation of Hermosa Group scam. Thanks for the fake testimonial. By the way although they don't have a bad track record they are not members of the BBB.

I too got mixed up with a so called debt relief program and boy do they take you. I finally got wise an cancelled the program after 4 months of giving their socalled attornies $246.00 a month. They did nothing and I got a check back for $153.00. What is wrong with this picture?

i feel like a broken record... RESEARCH BEFORE SIGNING!! ok, so you find yourself up to your eyeballs in debt i get it. so you need a company i get that too. But why do people not take the time to find out about the company before they sign on the dotted line? This is your financials here its kinda important. If you need a settlement company why not take a week to be sure they are the company for you? your debt is not going away.

and if you sign up with debt settlement you will stop paying these bills anyhow. Why would you not be sure before signing up. The internet is a great place for info. google your company in many different ways. call the company and ask the tough questions (i have a post on my blog of 10 things you should ask).

If they tell you you wont get sued ---thier lying
if they promise a $ amount----thier lying
if they promise a time frame(definately be done by x) thier lying you can sign up for a 2 year program but it may be done in 2 years and 2 months or you may get lucky and be done in 18 months

If they lie to you run. run as fast as you can how can you trust them if they start your relationship with them based on lies. how will you know if they are dealing with your creditors when they say they are.

THINK THINK THINK

The Seideman Law Firm is not the Palmer Law Firm. The two exist in Texas, and funnel all back office work to another company in California called Lexxiom. The Palmer Law Firm settled all my accounts at very low percentages, I was in enrolled for 2 1/2 years.

who knows what is real. I know that the Palmer Law Firm has not helped my sister at all. The amount was $1000.00 a month. They did not disclose that they keep the first $4000., they then charge a $65 maintenance fee and a settlement fee for every account they "settle". A specific example. Debt was $5816. They settled for $2713 and their fee was an additional $1342.62. So let's see...in 9 months they have collected $4000 + ($65 x 9) 585 + 1342.62 and the settled 1 account for $2713. Does this sound legit?? Supposedly they have sent letters to all 5 creditors, but no copies of the letters are available and they have not mad any contact with the creditors because they have to now wait until there is money available. I will recommend this company to absolutely NO ONE and am filing an "inquiry with the attorney general.

So...what can be done. Do we just let these so called "debt relief" companies continue to prey on innocent consumers? I know it is easy to say research, check, verify but unfortunately there are some trusting consumers out there.

i hate to say it, but that is the whole problem and frankly these are the people that come here and state that they got screwed. Now i hate for anyone to get screwed, but whos fault is it anyway if they dont take atleast a day to check out what others are saying? Whos fault is it if they dont check out the bbb, and whos fault is it frankly when they join a settlement company and realize later, that you stop paying the bills?

Im beginning to loose sympathy

Do not touch the "debt settlement aid cpmpanies".I went through with"Debt Relief Group"a susidery of "Hermossa group" all the way to signing a contract.Luckely I put some time in reserching it.To start with go to :"beginning debt settlement LLC " and go to "-MSN money"
I was to pay a set monthy amont into a "trust account" for 60 months and be free and happy with 100 % good credit after that.

Reading the contract,The law firm takes 10 % of you dept first,than 33 % of settled amont,plus all the fees and than they DO NOT Gurantee anything !!!.On top you owe Uncle San tax on settled amount.

First of all,any debt settlement is a SCAM. Stay away!
Guys are right. Hermosais is only a lead collector from the bombarding adds.Thay will send you to a law firm in your state,if it is legal there,even if not they would not care. You get a contract-read it 10 x !!!
Go to "Beginning debt settlement LLC",than to "Beginning debt settlement-MSN money".
Few months ago I got taken by "Widham Vacation Resorts.com" -my fault-did not do the homewark.This time,I did and I was saved,just seconds before signing the contract!!!

The BBB is as much a scam as the some of the debt settlement companies. They are a privately owned for profit business once half owned by Al Capone as a way to legally extort money from people. The BBB is still run somewhat in that fashion and I would love for John Stossels or some other reporter do a real investigation into how this extortion racket is run. BBB membership is not cheap or impartial. Some of you idiots quote the BBB as if it were a real govt. agency looking out for your best interest they only care about membership sales and profits.

Let me explain EXACTLY how The Palmer Firm, Seideman Law Firm, Iniguez Law Firm and Mossler Law Firm work. First of all, Seideman is no longer in "business" since 2006, claiming they had too many client's to service. That is when Palmer started. Suddenly they are no longer accepting clients. Now it's Iniguez and Mossler. While these "law firms" have different addresses, attorney's etc., believe me when I say, they have nothing to do with the settlement of your debt. Your debt is settled through a company called Lexxiom, Inc. and are located in Southern California. The attorneys provide the name, and that is it. I have no idea how it is legal and how it's done, but that's how it is.

When a prospective client sees an ad on T.V for debt settlement, they call the number given, provide all of their information to the unknown person on the other end of the line. The prospective client is then told there will be a one time fee of x amount of dollars, payable to the company seen on T.V. Banking information is taken over the phone, rarely payment is made in actual check form, however that is accepted but discouraged. The agent then, in most cases, faxes the "Legal Service Agreement" to the prospective client. The agent will tell the prospective client that it is imperative the agreement is returned immediately. In my experience in speaking with the clients, as a former employee of this company in CA, client's felt rushed as if they would miss their opportunity to get their debt settled if they didn't sign, date and return the forms by the next morning if not that day. Unfortunately, the client's also trust what the agent is telling them as far as what is in the agreement, what the fees are, etc. So the client then signs on the dotted line, and returns all necessary paperwork without actually reading the service agreement. I must also point out that the service agreement absolutely does state all fees charged, the possibility of litigation, etc.

So now the client is enrolled with the debt settlement services. Great. Not really. There is a retainer fee that needs to be paid to the "law firm", but it's really going to the company in California. I'm sure a portion of it goes to the "attorneys", but probably not much. I am unsure of how the retainer fee works these days, but it used to be that 8%-10% of the total amount owed was the retainer fee. You are charged $65.00 monthly, for maintenance. I never quite understood what that was for. I was asked numerous times what exactly was the maintenance fee used for, and honestly, I never had a very good answer. It's a money making fee, plain and simple. Then we have the settlement fee, which is 33% of the amount that you are saved. And yes, if they save you over $600.00, you are going to owe the IRS. It is considered income. This is something else a majority of the clients are never told until it is too late. So, the company saves you X amount of money, and now you have to pay off the settlement fee before anything other accounts will be touched. Depending on what was saved, the settlement fee can be rather outrageous. I have seen some settlement fees at $6,000.00. If a client is paying $400.00 monthly, it's going to take them 17 months to pay that off, because what is really going into the trust account is $335.00. Remember the maintenance fee? In the meantime, while the client is paying off the settlement fee, the creditors are getting impatient. And they will sue you for the money! I should also mention that the time frame the client is given for being in the services? Always count on another 2+ years on top of that.

Now, when the client is sued by a creditor, they are served a summons. The client is supposed to call the law firm, speak with someone in litigation, the representative in litigation requests the documents be faxed to the office to speedier service. That's a joke right there. I can't tell you how many times I had spoken to client's that had not heard anything from the law firm in over 2 weeks, with a court date arriving much to quickly. The representatives cannot give you legal advice, or at least they are not supposed to. They are not attorneys or paralegals. They are people off of the street who have applied for a job. Plain and simple. Most are young and inexperienced, but not all. When the legal representative does call the client back, it is to let you know you need to contact a local attorney that we have acquired to represent you. The company got into some trouble a while back because we were "handling" all legal issues from California. Whoops! So the client calls the local attorney, who then tells the client there is a fee for hiring him to appear in court, so on top of everything else you are already paying, here you have another fee. Half of these attorney's don't show up to court, and rarely call the client with updated information. It's sad.

Bottom line is this, do not go with ANY debt settlement company. They rarely help people get out of the debt they are in. If you are contemplating enrolling in this type of service, I ask you to really do your research. Call the creditor, I know for a fact they will work with you. Rarely they will not. If you are retired or permanently disabled, and your only income is pension, disability, etc., the creditors CANNOT touch you. They CANNOT go into your bank account and freeze it and they CANNOT garnish your wages because you do not work. The only option for them in this situation is to put a lien on your home, which they may do. But unless you are planning on refinancing or selling, you have nothing to worry about. And if someone is in serious debt, speak with your local counsel regarding bankruptcy. It's a better option, I promise you.

I know I most likely have left alot of information out, but this post has already turned into a novel, and I apologize for that. I just want to make sure all of you out there know what debt settlement companies are all about. Making money from the naive and elderly. Unfortunate, but true.

p.s Pardon the typos

I would try this company bla bla bla they are listed with Tasc and USOBA I went with them and have had the best expierence so far!!

solicitation removed -- mobile

To Love my things, how can you say its these peoples fault for not researching the company when most of the people that these companies deal with are elderly people, who in fact most of the time don't even have a computer to research. Most of them think because they see it on t.v. that it is okay. I know because my elderly father got scammed by one of these companies doesn't even own a computer nor know how to use one, he asked around and thought that because it was on t.v. it was okay, and wound up getting sued. I say its the fault of our justice system for not doing anything to stop these companies from scamming people out of their hard earned money!!!!!

THE BELOW IS ALL TRUE! I Worked there for almost 6 years. I Hated lying to the clients. I had to protect my job of course.
DO NOT TRUST THESE so called Law Firms. Get out and request full refund!

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CALL them back and request FULL REFUND. They will still have you on FILE!. They will give it to you. Just say FULL REFUND and BBB.



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Hi,

Just to let you know that there can be a debate on all settlement companies regarding them being scams,but the right thing suggested would be to probably get a proper feedback from people who had been practically attached to the company.Check it with BBB,because affiliation with BBB is very important as far as a company's authenticity is concerned.

DS Financial (866) 833-6398 is a debt settlement company that I would reccomend. They work strictly on a contingency basis and they charge a fraction of what most other companies charge. You pay the debt settlement companies directly and they charge a small fee for negotiating the settlement. You can't go wrong there.

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