Global Debt Management - Is it a good company to settle debts?

With regards to banking, there is a line item called the Right of Offset which in a nutshell mean if you've got a creditor in a debt settlement program (which means you're delinquent or behind on your debt or will be) and you bank w/ that creditor, they can delve into your account and recoup the funds. It on paper but doesn't happen that often nor quickly; however Wells Fargo is notorious for doing that fairly quick - you may want to transfer your funds/account and bank elsewhere.

Global debt management is based out of California and has an F Rating w/ the BBB. "Our opinion of what this rating means:
We strongly question the company???s reliability for reasons such as that they have failed to respond to complaints, their advertising is grossly misleading, they are not in compliance with the law???s licensing or registration requirements, their complaints contain especially serious allegations, or the company???s industry is known for its fraudulent business practices."

I looked that up, too, on the BBB and questioned the company and they said that is not them. They said that company is a different one at a different address (Tustin, Ca.) and the address they give me is one out of Washington, D.C. even though I talk to them from Irvine, CA. They told me they are not even registered with the BBB because you have to pay for it and some stuff about how the head of it owns several debt mgmt companies, etc. He directed me to the Association of Debt Arbitrators and the Dun and Bradstreet Credit Rating and said they are registered with those? I don't know.

Global debt mngt is no good. My cousin got me to call freestar financial in maryland. I have only good things to say about them. I am on the road to debt freedom!

I've heard of ( and dealt with..) Global Acceptance Credit Company. I don't know if this is a 'sister' site, or not. GACC was very difficult to deal with.

mattnangie07, if you find any anomaly in their work then you can terminate your contract with them and ask for refund. It' your legal right.
Global Debt Management has a very poor record with BBB. Deal with caution.

I have been behind on my bills for 3 months
and had no idea of what to do
I ended up going with this company Whitelight Financial
i spoke to 4 companies including Global Debt and
this company is In my option one of the only ones that seem
to care there number is 1-877-378-3593 whitelightfinancial .org I also check and they have a good record with U SOBA and the BBB

I actually started my process with Global debt management 5 months ago and everything working just as they said. I questioned the samething as you with the BBB. The global debt mangement on BBB is different company. Just go on the BBB website and pull up the link to the website of other global debt management and you will see that it is a colletion agency.

I am currently working with Global Debt Mgmt. They are doing an amazing job at getting my debts settled as they said they would. I would steer clear of the BBB and what they recommend, as they own a Consumer Credit Counceling Co and that is as to why they will never say anything good about Debt Settlement. For the record CCC Co's are funded by the Credit Card Co's and that is why you don't see any relief with the CCC Co's. Global Debt Mgmt has gotten my payments down monthly and are in the process of settling my 5th credit card as I write this. When I saw this I had to tell you my testimony so that others would see that it is indeed working and there is no reason, other than the selfish reason of the BBB and their own CCC Co. (who are paid by your creditors) to try and detour you from doing debt settlement. Look into other reputable Co's that rate these settlement co's specifically like www.tascsite.org and don't forget that the BBB is an independent co that is not governed by any agency other than it's own. Best of luck on settling your debt!!

To bregirl2000, Thank you so much for your comment on Global Debt Management, LLC. I just started talking to them this week and am trying to get more info before finalizing the contract. I went to the tasc website and there's a letter in there from tasc to the BBB President. I also called tasc and asked some questions. They said that Global Debt Management, LLC is in good standing with them. They are also a Gold member of Dunn and Bradstreet. But it costs money to pull the report. During these difficult times, talking to them really is comforting, but it's always good to do some research to make sure. If they do what they say they can do, then it will be of tremendous help to us right now.

Thanks again.

great job taking the right steps to doing your research on these companies. its just as important than realizing you need to do something.

just be cautious of the "guest" posters. take thier experiences with a grain of salt there seems to be alot of advertising today. When you have been on this forum awhile you can see it a mile away

I have been looking into Global Debt Management and it sounds like a good set up. When I got their documentation and the breakdown of the fees they seemed a little high to me. It seems that they take their cut and once the majority of their fees are paid then the money starts going towards paying off my debts. Is this how all the companies work?

no, all companies charge differently. some charge a flat %. some charge a lump sum in the beginning and no more after, some charge a % of saved amount throughout the program. they are all different.

Be cautious of a lot of companies out there. A lot are a scam. But there are a few legimate companies out there. Make sure the company is approved with TASC and Dun & Bradstreet. But if you find a good the program really works. By brother has 50k in CC debt 18 months ago and next month he will be debt free

I have heard good & bad with all sorts of companies, but I have seen my clients' settlements come through without a hitch, just like they said it would. As an attorney, I put them through the "wringer" in order to make sure the enrollment process, along with everything else was a viable exit strategy for my client, sure enough; no amount of grilling I put my counselor through deterred our final decision, resulting in the enrollment for my client. I looked at the BBB as well, I learned that the BBB isn't a government entity either, and that small business actually purchase their ratings. I looked at the Dun & Bradstreet, with full knowledge of it's authenticity, and was able to advise my client on this matter and avoiding the potential Bankruptcy they were facing.

Anyone heard of Nationwide Debt Center or had any experience with them?

I had enrolled in the program with Global Debt Management last September and they just settled my second credit card yesterday. I was really skeptical in the beganning because of all the bad press on debt settlement companies. But I am glad to say I am very happy so far with them. My 1st 2 cards they settled for me at 40cents on the dollar. I only got 5 cards left. So hopefully if they keep settleing around 40 cents I will be out of debt 12 months sooner than expected. There website is globaldebtmgmt.com. Good luck

I have gotten involved with this group of debt arbitrators and they seem pretty legit. I spoke with my rep like more than 4-5 times just to fully interview and slam questions that were only answered with very reasonable information and consistency. They are backed by TASC and Dun & Bradstreet, which I found act as what you may consider the "BBB" of debt arbitrators. I read from another response that BBB is a privately owned corporation which I also found is true. They own or work with consumer credit companies which in return will give debt managment companies like GDM bad ratings....I mean it only makes sense because debt mgmt companies stop them from getting consumer credit debt lowered, allowing them less money to make from the credit compnay. I have done pretty much the research to say that I am trusting and determined that GDM is working for YOU and will steer people like myself into a debt free future! My rep was especially nice and easy to work with, never was rude or never hesitated to assist me with any needs or concerns.

Nationwide Debt Center is just a marketing front with a Washington, DC Pennsylvania Ave address used to deceive the public into thinking they are somehow a government agency. Deceptive Marketing and advertising are a strong contributing factor to the debt settlement industry getting such a bad wrap. Ask yourself this: if their advertising is purposefully deceptive, how legit do you think the company really is? You can do better. Keep looking, as there are several good firms out there who shoot straight and don't practice to deceive.

SO my question is if while enrooled in a Debt Settlement Program can the credit card company's take legal action on your behalf?

i've been w/global debt management about 7 mos.,and they've settled on one of my creditors,just kinda unnerving receiving all these threats from creditors and being unsure what's happening w/money i'm paying (on time) every month

Third Guest - Know your facts before you go around speaking about assumptions. Nationwide Debt Center does not have an office in WA or never claims it does.

So please do some fact finding before go around claiming to know what your talking about.

Thank you.

I paid them $4000 in 6 months but when unfortunate thing happens to me in regards to my job they don't care, they said it's business. Instead the manager argues that I am committed to the program. Guess what I will only get $300 of the money I put in. Instead of helping you get out of debt. They charge you up front for all their service fees and you will have nothing left to settle your bills. Why would they care they if you cancel, they charge you with fees right off the bat. They gained, you lose. So I complained to BBB and FTC with this unfair practice.

No, but I received this email from The Department of Debt Resolution. The website: nationaldebtreliefplan.com. The phone 1-800-997-4696 base of Lewis Delaware.

my experience - i went with global debt management becuase my mom said they helped her. it has been 1 year, they settled 3 accounts with 3 to go. worked so far.

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do u work for a company that does this? it seems like they all have bad ratings becuase they are settlement companies. i dont know of any settlemetn co's with a good rating in ca.

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Beware of scams. I hear there are a lot of companies out there that try to rip you off. Just be careful.

Signature removed, Please read TERMS OF SERVICE for a more detailed description regarding advertising. Shazzers

Alright after reveiwing all comments, I am trying global. I called and they seemed to know more than the other companies I have tried. I know settlement isnt perfect, but for me I'm giving it a try. I'll keep everyone posted of the outcome. I actually got a really good feeling when I called so I'm doing it and trying to get out of this situation instead of doing nothing. Stay posted...

I too have been working with gdm for a little over 1 year. i had 8 cc total and and they have already settled 3 of them. They actually settled my b of a card and chase card at 30 cents on the dollar. I was very skepitical of the program put they already save me ton of money. At this rate I have a chance of being debt free in 2 years instead of 3. I will keep you guys updated of how it good. But i'm very happy so far

Just so you know, BBB is an independent company whose ratings are bought out by creditors, affliated with creditors, the same creditors trying to collect debt from you. Global Debt Management is a debt management company that uses the right resources necessary to drive their clients free out of debt. They are really knowledgable and are helping me out of my process currently. I am a skeptic, very particular about who I deal with and do full research on my own to make sure I am not dealing with scams so I can tell you I grilled almost every representative I spoke to with questions that I expected to be answered on point with knowledge to better help me in my financial situation; they actually did a good job and got the position in helping me on the road to financial freedom. Do your research and feel the trust you need on your own before making the descision.

I have worked for a couple of debt settlement companies as a negotiator. The programs do work great for a lot of people and can save you a lot of money settling your unsecured debts for a much reduced amount. The programs however dont work for people that, for example own a house or property that they have equity in. Most collection agencies and creditors can see that and usually wont settle accounts. Their response to that would be to sell your house and pay us or they usually will sue. If you dont owned anything or have any equity in any property, the program would most likely be good for you.

I am in the Global Debt Management program (2 months now) and would like to hear from someone who has gone through their program successfully. I keep reading that they are not to be trusted and what. Please let me know if they are a legitimate debt settlement company.

Has anyone completed the process with Global Debt Management? Please let me know.

I would call 866-833-6398 they are by far the best. They don't charge you a percentage of your debt they just carge you a small fee and they stop all collection activity within a week.

I have been with Global Debt Management for almost 8 months. I really like their integrity and the way they call you every month, and handle all your faxes and letters for you. Yes their fee is a little high, but I look at the long run of things, my debt will be paid off in 3 years and I will be debt free. Global Debt Management has been there for all my questions and I do believe that they are there for their clients. Even after you settle all your debts, they want you to learn how to save money and not get into debt again. They dont charge any commission, and you do pay their fees up front in payments every month. But after that all your payment goes towards your debts. They have done a great job for me and I would recommend them to anyone. Debt Cure is the one I have heard alot of bad things about, due to one of my family members using them. She is really upset with them. You pay a retainer fee then 25% of any monies that they save you on a debt. They have done nothing for her, like Global Debt Management has for me!!!!

I think it is, they have taken care of me very well. I fax everything to them, and they send an e-mail to me letting me know they got my fax. They type up the cease and desist letters and send them by e-mail and I print them out and mail them off. I have been with them for 8 months and I have not gotten one call from creditors. They not only help you settle your current debts, but they want to make sure that you learn how not to get into debt that you cant handle. They are very personable and treat you with respect. I would recommend them to anyone that is looking for help in settling their debts.

Correction, the BBB does not sell ratings, you have to pay a membership to keep your account status active, i pay $300 a year and if someone complains it's on my record.

so far they have been great with me,it has been a year,i just settled 2 accounts, there are 6 more to settle. They keep up with documentation and monthly checks. So far I am satisfied. Good Luck

Found this out thought I would post it here. Per the BBB any debt settlement company has a poor rating just because of the type of business they are. They all start out with an F rating

Three words, scam, scam, scam. Global debt mgmnt sucks ass !! I signed up with them and they did nothing. I got sued by 2 credit card companies and had to hire an attorney to help. When I contacted them to get out of the program and get my money back all of a sudden when I call and put my client number or phone number in I get disconnected. American Express offered me 60 % off my outstanding balance with no help or contact from them. Don't give them a dime. I am now fighting to get my money back. And Noteworl bank sucks, they are trying to charge me over $8,000.00 in fees that they won't give back. They are a scam like all others. Get an attorney, its better

Hello,

I usually do not like to post too many things online but this I must say that I have to. I am currently a customer of Global Debt Management and I have to say do NOT sign up with them. Their program might work if you only have like one credit card with a relatively small amount owed but do not buy their word on what they will do for you. I just got served a summons from one of the banks that I owe to and now I have to go to court. I cannot believe this is happening to me. Right after I got the summons, I called a GDM rep to just see what I needed to and they told me not to worry that they are just trying to scare me and etc. She said to fax my summons in and that my rep would call me within 72 hours to make sure she gave me some information that might come in handy. Well this morning I got an email - not even a phone call with some very generic information.
I realize they cannot give me legal advice which is fine, but they do not want to get involved and definitely don't want their name out there as the people who are advising people how to get out of debt.

This company will not help you get out of debt, but they will help you ruin your credit score and probably make things worse. They charge a lot of money with a service fee for the first two years and then they start to put more money in your account so they can start to settle your debts.
What's the point? I am going to start dealing with my collections people directly and see what I can work out. The sooner you pay your debt off, the better and your credit will improve with time. I also think if you need any credit counseling or help, please go to a non-profit. I know there is still a fee for these companies to help you but that is the way to go - not a company like Global Debt Management!