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Rapid Debt Settlement

Date: Wed, 02/17/2010 - 19:33

Submitted by franklinfirstbank14
on Wed, 02/17/2010 - 19:33

Posts: 3 Credits: [Donate]

Total Replies: 18


I am looking to enroll in a debt settlement program and have been researching a few companies. From what I hear it is important to find a good one to work with. Rapid Debt Settlement has been highly recommended to me by several people. Does anyone have any experience working with them?

I have 70k in unsecured debt struggling to make min payments.


I actually enrolled in a 42 month program with Rapid Debt Settlement 6 months ago. I had just under $45,000 in debt with min payments of about $1100 every month. Times were hard..

In their program, my new monthly payment is $589 which is MUCH more manageable.

I am very happy with them overall. They keep in touch with me and keep me updated on my settlement offers so all I have to worry about is making the payment every month. Some debt settlement companies charge an upfront fee to work with you. Rapid Debt does not. Their fee is included in the 55% settlement agreement we have and is spread over the first 2 years of my payments. All of my payments go to an ESCROW account which I control. They contact me for authorization on settlement offers they receive.

They are very upfront about everything and seem to have nothing to hide. I was told they have a B+ rating with the BBB before I signed the contract. It turns out a company needs to be in business for more than 5 years to achieve a rating of A. They have been around for 3 years. So all in all, from my experience with them, I would highly recommend them to anybody considering settlement.


lrhall41

Submitted by on Wed, 02/17/2010 - 22:23

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Quote:

Originally Posted by Anonymous
LOL they charge all upfront fees, youve been in the program for 6 months, have they settled a debt yet and what was the creditor and what was the settlement %?

im sorry im quoting myself, to clarify upfront fees, this program you will pay off your fees within the first 2 years wether they settle or not, this is not performance based fee structure. the money to be made in these type of companies when you work there is not to settle the debts but to enroll people, the more they enroll the more money they get
I could totally be wrong and this could be a good company but im not in debt and just offering helpful info to people that dont know.
upfront fee companies need to be closely looked at.
the one thing i thought that was good about this company was the fact that they are not claiming to settle at 10,20-30% settlements, they seem to be honest enough to claim 55%, which i hope is over delivering and they do much better in the end.


lrhall41

Submitted by on Wed, 02/17/2010 - 23:16

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Well it is very much appreciated that you are looking forward to a debt settlement program. But before going into such a program you actually need to check out certain details.

The thumb rule is to look for the companies which are accredited by The Association of Settlement Companies (TASC) because this assists to reduce your financial risk. Moreover you need to ensure that the professionals working in the companies are certified by International Association of Professional Debt Arbitrators (IAPDA).As they will be able to assess your financial situation and assist you to reduce your debt.

Ensure that you go through the terms and conditions of the services carefully. If possible, you can check whether the company offers any guarantee or not.

Also make sure that the fee charged by the company can really fit into your budget. Do take care of the legitimacy plan as you need to ensure that the creditors won???t sue you after the completion of the settlement process.

On the other hand do ask for an action plan as good companies usually reviews the credits and provides a time frame for completion of the plan. Please don???t forget to follow up with the company regarding the progress.

Thanks to Craig Segar for getting the information furnished. The good part is that Rapid Debt Settlement doesn???t have any upfront fee as such. So if the parameters are all matching up to your requirement then you can definitely enroll in a debt settlement program with Rapid Debt Settlement. Moreover your recommenders along with Craig Segar will be of great help I believe in the future.


lrhall41

Submitted by on Thu, 02/18/2010 - 00:38

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TASC is an group of settlement companies that needed to use something to overcome the BBB rating to keep this official as a banner on some debt settlement sites.

in the begining TASC was to keep out BAD companies and only keep in the good, AND THIS WORKED WELL, IT WAS A GOOD THING, in the begining there were only 10 settlement companies and now there are 2000+ when people contact TASC they can now pay a small price to become TASC members.

even the crappy settlement companies are a part of TASC now because its so easy to sign up and just pay a small fee.

I do hate saying this because TASC actually defends settlement companies in legal situations but they forgot their roots as well.

I really like TASC for defending settlement companies but they need to re think why they made TASC and weed out the bad companies that just paid a fee to become a member.


lrhall41

Submitted by on Thu, 02/18/2010 - 01:12

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Quote:

Originally Posted by Anonymous
TASC is an group of settlement companies that needed to use something to overcome the BBB rating to keep this official as a banner on some debt settlement sites.
in the begining TASC was to keep out BAD companies and only keep in the good, AND THIS WORKED WELL, IT WAS A GOOD THING, in the begining there were only 10 settlement companies and now there are 2000+ when people contact TASC they can now pay a small price to become TASC members.
even the crappy settlement companies are a part of TASC now because its so easy to sign up and just pay a small fee.
I do hate saying this because TASC actually defends settlement companies in legal situations but they forgot their roots as well.
I really like TASC for defending settlement companies but they need to re think why they made TASC and weed out the bad companies that just paid a fee to become a member.


please dont try to school me on my knowledge im an honest and true person that WILL overcome


lrhall41

Submitted by on Thu, 02/18/2010 - 01:19

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Craig Segar is one of my clients, he informed me the other day about this discussion here. I would be happy to answer any questions and clarify any concerns about our company.

I am not going to get into the details of Mr. Segar's particular program because that would go against our companies privacy policy. Chris may share the status of his settlements if he wishes to do so.

I will start by stating that we are one of the 166 debt settlement companies accredited by The Association of Settlement Companies (TASC). We have a B+ rating with the Better Business Bureau (BBB) which will likely rise to an A rating after we have been in business for 5 years. Unlike most settlement companies, we don't push people to enroll into our programs. We strive to provide our potential clients with enough information to make an intelligent decision about whether or not to choose debt settlement. At the end of the day this is your credit card debt, so we want you to feel comfortable with what you choose to do about it.

We do not have upfront fees. Our fee is included in the monthly payments throughout the first 2 years of the program. Once enough money has been accumulated in your account, our debt negotiators work with each of your creditors to obtain settlement offers. We are able to reach settlement agreements of 55% of the original balance 95 percent of the time. In the event a settlement can't be reached the money accrued in your account is obviously still yours. We take a lot of pride in what we do and settling our clients debt is our number one priority. Weekly communication with our clients is something we also take seriously.

Any additional questions or concerns should be asked here. I will be monitoring this thread for the next few weeks to answer them. Any personal inquiries could be sent via PM. Thanks!


lrhall41

Submitted by rapiddebtsettlement on Fri, 02/19/2010 - 17:20

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Wow. Thank you SC and Chris S. for your research and input. You have all given me a lot of input here to help me with my decision. I had no idea about TASC before reading your replies.

Also, THANK YOU CRAIG SEGAR for your testimonial. I was quite surprised to see a reply from a satisfied Rapid Debt Settlement Customer AND A Rapid Debt Settlement Employee! I think my decision has been made, I want to do something about this debt right away.

Bill Shannon: I have sent you a PM with my contact information. Call me on Monday so we can begin the process. I look forward to doing business together.


lrhall41

Submitted by franklinfirstbank14 on Fri, 02/19/2010 - 17:37

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[QUOTE=
We do not have upfront fees. Our fee is included in the monthly payments throughout the first 2 years of the program. [/QUOTE]
lol im sorry but this makes no sense at all.
you get all your money upfront and id almost gamble my wages that you pass up the best settlements because youre getting the fees UPFRONT withing the first 24 months.
my next question is do you actually settle the debt at your location? or do you farm out you clients to different negotiations companies?


lrhall41

Submitted by on Fri, 02/19/2010 - 23:03

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Quote:

Originally Posted by Anonymous
lol im sorry but this makes no sense at all.
you get all your money upfront and id almost gamble my wages that you pass up the best settlements because youre getting the fees UPFRONT withing the first 24 months.
my next question is do you actually settle the debt at your location? or do you farm out you clients to different negotiations companies?


Some companies charge you a fee to enroll in a debt settlement program. That is what is called an upfront fee. A fee broken up into the payment over 2 years is not considered an upfront fee. You don't see the difference? We are in this together with you..

I do not understand where you are coming from when you say you would be gambling with your wages. That is simply not the case here. All payments are funded to an account in your name which you, and only you, can control. During that 2 year period, settlements would likely be reached with most of your accounts.

We settle the debt at our location. We have our own team of lawyers and debt negotiators.


lrhall41

Submitted by rapiddebtsettlement on Sat, 02/20/2010 - 14:46

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Quote:

Originally Posted by rapiddebtsettlement
Some companies charge you a fee to enroll in a debt settlement program. That is what is called an upfront fee. A fee broken up into the payment over 2 years is not considered an upfront fee. You don't see the difference? We are in this together with you..
I do not understand where you are coming from when you say you would be gambling with your wages. That is simply not the case here. All payments are funded to an account in your name which you, and only you, can control. During that 2 year period, settlements would likely be reached with most of your accounts.
We settle the debt at our location. We have our own team of lawyers and debt negotiators.

I DO see where you are coming from. youre stating a small retainer fee as a UP FRONT FEE, this is least of peoples problems that are in debt. the retainer fee is usually paid off within the first months payment for misc. work that has gone into enrolling a client. if you dont charge that then i guess you can hold that up above your companies name.
BUT you still do charge your fees within the first 24 months as you stated already.
this means wether or not you settle you still get your fees? am i right ? < please answer this question.
given i know business and your company will be better off by doing this but the person in debt might not be as lucky as your contract.
you should base your fee structure off of: when the debt is settled you get paid! but you wont get your money as fast as what your already getting it at.
but im still banking on that you enroll people in debt and farm the portfolio of debt out to some wish wish company that doesnt give a crap just like you dont because youre getting paid regardless.


lrhall41

Submitted by on Sat, 02/20/2010 - 23:31

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As I said we reach settlements 95% of the time. I have never encountered a situation where we collected fees and did not help a client. You are obviously trying to promote yourself by bashing my company in any way possible. I am not here to argue with you, but you obviously do not know what you are talking about. I wonder if "RIOT" debt settlement is listed in the BBB or accredited by TASC..


lrhall41

Submitted by rapiddebtsettlement on Sun, 02/21/2010 - 00:00

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Quote:

Originally Posted by rapiddebtsettlement
As I said we reach settlements 95% of the time. I have never encountered a situation where we collected fees and did not help a client. You are obviously trying to promote yourself by bashing my company in any way possible. I am not here to argue with you, but you obviously do not know what you are talking about. I wonder if "RIOT" debt settlement is listed in the BBB or accredited by TASC..

LOL sorry i had to laugh, my RIOT login name that came from something years ago, i did not create a login because with my knowledge and my FREE help im sure they would ban me right away, if you have seen my cell phone number i challenge you to call me acting like you are someone in debt so i can tell you how to do your job.
by the way i have asked many simple questions FROM YOU and YOU keep avoiding them.
i really hope you didnt come to this website for advertisement, this website is the worst to advertise your company.
THIS BEING SAID IS WHY IM NOT PLUGGING MYSELF, like you think i am!!!!!!!!!!

no cell


lrhall41

Submitted by on Sun, 02/21/2010 - 00:16

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Quote:

Originally Posted by rapiddebtsettlement
As I said we reach settlements 95% of the time. I have never encountered a situation where we collected fees and did not help a client. You are obviously trying to promote yourself by bashing my company in any way possible. I am not here to argue with you, but you obviously do not know what you are talking about. I wonder if "RIOT" debt settlement is listed in the BBB or accredited by TASC..

seriously do i sound like i dont know what im talking about ? ive been settling peoples debt for 7 years with a good heart to get people out of debt.
PLEASE read my posts that give information on how to get out of debt, i know more than most AND IT SHOWS IN THIS FORUM. Also the people that have called me ive given the most honest advice as i can give. much more than some here that hasnt been in debt themselves.


lrhall41

Submitted by on Sun, 02/21/2010 - 00:34

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debt is like fine wine , it's gets better as it ages== yes 30 60 90 120 it's the game, the creditors take out insurance if ya don't pay- they write it off as bad debt and the collector comes along and buys the debt 20Cents on the dollar. No one is going to negotiate right off the client does not have the money and in most cases it does not start until 6 months or more.. TASC?? just another pay me money to look like you have good standing. hardship is the key and you need to inform the customer of the facts and information.. you guys are all funny.. the mortgage people came over to our side since yeah.. $$$ money.. but do the right thing disclose the right facts and people are ok.. been in IT.. for 12 years now.. :-)


lrhall41

Submitted by on Thu, 05/20/2010 - 16:13

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