Tom321 - PLEASE HELP
Date: Thu, 10/30/2008 - 09:17
I have read a lot of your posts and you seem to be very fair and knowledgable about debt settlement. I have spent the last couple days researching RAM Financial Services (AZ) and am considering doing debt settlement with them. I will pay 225 for 28 months and will be debt free (11,500 in total debt). The only fees they said are the 15% fees of my total debt which are worked into my payment and taken out within the first twelve months ($142 a month).
Do you know anything about them? The only posts I see on this site recommending them are from people that work for them and I only know that because I've gotten emails and worked with people with the same username.
Please help me. I want to sign up with them but I just want to make sure I am not entering myself into another scam.
Thanks Tom321.
REALLY appreciate your help.
After reading their home web page it appears that RAM Financial
After reading their home web page it appears that RAM Financial Services does not actually provide debt settlement services. It looks like they market for different companies. I don`t know a lot about them but I will say that they take way too much in fees up front. Most companies charge their 15 % fees over 18-24 months minimum.
I'm not sure about their fee structure but untrue about them not
I'm not sure about their fee structure but untrue about them not providing settlement services. I don't work for them but they are one of the companies I recommend to my clients and friends just because of their overall package and service. Their settlement program which they do provide, features a credit restoration program as well as a debt to prosperity program which involves educating and coaching. Not sure what other companies you talked to, but talk to several others so you can get a feel of fees and structure in the settlement industry if you decide to go that route.
12 months is too much fees up front to the company. There is alm
12 months is too much fees up front to the company. There is almost no money building in the clients account to be used to settle the debt for the first 12 months. That is crazy . What is a creditor gets aggressive within the 1st 12 months ? There would be almost no money saved to make a token payment or settlement offer of any kind to talk an aggressive creditor out of taking legal action. Thats just crazy.
Plus I can`t find a RAM Financial Services in AZ on the BBB at all. I am not trying to discredit them but they really haven't been around long enough to have a good or bad track record yet and they charge too much fees up front compared to the industry standard. Perhaps when Tom321 gets a chance he can chime in with more info regarding them.
RAM Financial Services is in Cali. Where did you get AZ? The B
RAM Financial Services is in Cali. Where did you get AZ?
The BBB states:
BBB does not have sufficent information to determine how long this business has been operating.
BBB does not have sufficient background information on this business.
Plus there is no phone number listed. I can't find much info about them at all. That's a bad sign. This one I don't know. but Mobile is right in everything he said. Just do the math like he did. You said $225 for 28 months and you owe $11,500? 225x28=6300. Not even close to $11,500. And you said they are taking out $142 a month for 12 months? 142x12=1704. $1704 in fees???? 6300-1704=4596. Now after 28 months you now have $4596 to settle accounts that you said are $11,500. That doesn't even add up at all.
Sometimes it's as simple as doing the math to find out your answers. Arizona Division of Corporations does not have them on file but Cali does. Cali says they have been around since 2003. I agree with Mobile here. Try another one.
no they're called RAM Financial Services....call the ram dot com
no they're called RAM Financial Services....call the ram dot com. they're in phoenix arizona. they have a web site. but i agree the fees are a bit high.
Hoped I help you. I can't find them in AZ but I saw the site.
Hoped I help you. I can't find them in AZ but I saw the site. Some of the info on their site is copied on other debt settlement sites. The whole thing sounds fishy with a capital F. Again recommend trying someone else. If there is smoke there is fire.
Our company is new and was established in response to the numero
Our company is new and was established in response to the numerous scam programs that is out there. RAM's program was founded on the discipline of Debt to Prosperity in which I'm sure you've heard preached by Cummuta, Ramsey, and even Orman: get out of debt as quick as you can; Operate 100% on a cash basis; And build wealth. One of our programs to get out of debt is our debt settlement program which is done in-house by our negotiators. We understand it's not for everyone and we have other programs available for those it's not suited for in which we would recommend if that's the case. I would very much appreciate it if responses like above would warrant a true check into a company whether it be ours or anothers; googling will only get you so far.
A true check? You can't be found anywhere except for your own s
A true check? You can't be found anywhere except for your own site. See here we go again. Why does your info on your site show up on other debt settlement sites word for word? Why are you not listed in the AZ Division of Corporations? Why are you not on the BBB? Why did you pick a name that is obviously used by at least 5 different companies?
And googling can get you everything. This is 2008.