Capital Debt Settlement

Capital debt settlement
5150 N 6th St Ste 172
Fresno, CA 93710

They are a pretty new company so they haven`t been around long enough to develop a good or bad track record yet. They are not members of the BBB and have a " no rating " since they haven`t been in business long enough to develop a record yet. They are members of TASC.

Capital debt settlement seems to be a good company, based on 3 reviews from consumers in the past month. However they are located in California not Derry, NY. CDS customer service is Accelerated debt management Group in Derry, NH the owner is David Trachtenberg who is an ex felon and spent time in prison in Florida for Drug dealing. When he worked down here for me he was always on drugs and to focused on the ladies in the office. I can't imagine that a business would even hire his company to do customer service.

Are these people legit? I too am talking to an agent in california, but when i received the contract paperwork the address was for derry n.h. Has anybody else had any dealings with them good or bad?

I am a current client and my experiance has been good. My debt agent was helpful and they always answer any questions I have.

They are a reliable company that I have chosen to work with. They are in New Hampshire, not New York. Check out their web site.

ive been making payment for a couple of months but i still get all these letters for collections.how do i know if my payments are in good hands?i live in california and i call them at new hampshire.i dont even know who they are.i just go by their word.what if my money is going nowhere.someone please fill me in.

They are a RIPOFF!! Don't deal with them - they accessed my bank account without my authorization after I told them I had changed my mind about going into their program.............

Nancy

Dont deal with these people they will rip you off . New Hampshire California both of them are scams .

They have been withdrawling money out of my account for a year but the calls kept coming and the letters did not stop. Worse they advise not to talk to your creditor directly as according to them it would make it more difficult to settle. NOW - My creditor is trying to summons me to take me to court. I'm extremely frustrated and may report them if they don't give me answers this week.

dita, maybe you did not know the facts about settlement before signing. i dont know if this company is legit or not, but the facts are this.

1. they cant stop the calls completely. they can try and it will reduce them but they cant stop them completely

2. usually settlement companies advise to not speak with the creditors because it could hurt a potential settlement. for example if they tell them you only have 500 take it or leave it, and they call you get you all upset and you leak out that you may be able to come up with more, of course they wont settle for 500 when now you have let the cat out of the bag that you may have additional funds when before they thought that may be all you have. see how this could hurt a settlement negotiation?

3, no settlement company can promise you wont get sued. they can only try to negotiate it quickly before it goes to court.

this is exactly why settlement gets a bad name and so many complaints on the bbb. no one knows what they are getting into.

I am a current client and I agree you need to know what you are getting into. I was told all of those things could happen and I guess i've been luckey that they have not.

I find this funny as hell. I enrolled with them only after I read the contract. They have done exactly what the contract said I was paying them to do. Before I did this I couldn't afford the payments on my cards. I would have not been able to ever pay them off or have the money to hire attorneys to make them settle. I have a payment I can live with now and I guess I read what I was signing beforehand because I think that unless you go BK you have to deal with these guys while you get the money up to settle with them. Why is it that people that scream loudest are the ones that didnt read what they were agreeing to do? If you can pay your bills then pay them, if you can't and you don't have an attorney or the money for an attorney you hire a firm. Did you think they promised to pay them and then let you pay them back? You act like THEY got you into debt and then didnt help. This takes time and work to get resolved. Why don't those people remember who it was the got them here. You want to complain then complain to your credit card company that charged you rates that you couldnt ever get out of paying. Stop playing ignorant and move on with your live.

My Significant other has been in this program for almost one year and so far we have not been receiving calls from collection agencies. The only time we did, it was because one of the collection agencies sold the acct to another agency. The new agency called a few times, Capitol Debt had me fax them a notice we received in the mail and they have not called back since. So far, so good. We are at the end now and the only convern I have is that they discontinue debiting my acct. for the monthly payment in July as June should be the last.

Sound "To The Colors" and hoist the BS flag. Here's the only thing you need to know about this outfit:

"SANTA ANA, CA--(Marketwire - March 19, 2009) - Capital Debt Settlement is pleased to announce the addition of Debt Management to their debt help offering. In joint partnership with Allegro Law"

Yup, THAT Allegro Law, which the Alabama Attorney General shut down over a month ago for ripping off 15,000 people. Keith Anderson Nelms, the big cheese at Allegro, turned in his law license for three years. Anybody in "joint partnership" with Allegro or Andy Nelms should be run, not walked, away from. At the speed of light.

40,000 lawsuits by the Legal Helpers just last year???? If 400 lawyers are in this network, that's 100 suits per year per lawyer, or two a week. FDCPA work is over half my business, and I don't file near that many suits. If you wanna bet their "nationwide network of Legal Helpers attorneys" exists only in press releases, I'll take a piece of THAT action.

Hi Chris,

I have read several of your posts on this board. Like um!

I got a call from a woman this past Monday who took about 60 seconds to be reduced to tears while explaining the abuse she has been subjected too by a debt collector. 3rd paty contact, disclosure of the debt, has reached her the week prior but calling multiple 3rd parties anyway, threatening suit. It was at the point of her describing the litigation threats that I learned the debt is 7 years old. She lives in NC.

She had no access to a computer so I looked up three FDCPA special-ists in NC and gave her the contact points for each.

None of the names in NACA were titled with a first name of Chris. Do you work at one of the 3 firms listed as specializing in NC? If not, I would be interested in connecting with you to add to the data base I have.

We do not make many referrals, mostly just egregious ones.

Your contact points? Ambiguous email?

You can only be an ex-felon if you're found guilty and convicted. Since neither happened to Mr. Trachtenberg I would say he's not an ex-felon. Also a drug problem doesn't make you a cheat.

Quote:

I use CDR. They've been fine. The agents are polite and thorough.

We have been working with this company for almost a year now, and they have done nothing for us. They take your money, hold it in an account, then charge you a fee for that account, along with the ginormous fee they charge you just to take you on as a client. When we first started we read everything, we talked it out with someone who knows what these things are about. They advised us not to do, to work with them instead. But we chose to work with CDS. Now we are kicking ourselves. We have had three to four different reps work with us, no consistency, they are rude on the phone, and pass the clients around like chattel. When we signed on the first question I asked was if we get all the money refunded to us if we decided to cancel, including the upfront fee. I was told yes. That is the only reason we signed. Now that we are trying to cancel, they have changed their story and say they don't refund that portion. Guess what? The calls are taped. Take this story for what it is, a warning. Know exactly what you are getting into before you do it. If someone who does this for a living tells you it's not a good idea, you might want to listen.

Is this company the same as "Capital Debt Relief"?
If so,.. BEWARE...
Yes, they talk a great talk but don't walk the walk..
They tell you to STOP paying any of the creditors you list with them.. Do not talk to any of these creditors as it will endanger their chances of getting you a lower settlement.. They take a monthly payment from you based on the total amount of your debts.. BUT... (here is the bad part), they do not contact your creditors aside from sending them a copy of "Power of Attorney" for your debts.. The creditors are not interested in their "Power of Attorney" and will continue to call you continuously.
When the Sheriff comes to the door and hands you a summons from a creditor, they tell you... Ehhhh... you had better hire an attorney.. They will refer you to a legal assist firm who also will charge you a nice chunk of money.. but they will do nothing to protect you from law suits..
I had one creditor contact me (not them) and offer to settle for 1/3 of the total amount owed... I passed this request on to Capital Debt Relief, and luckily, their was enough money in my account with them to settle it.. (I could have done this myself if I had put all the monies I paid them into a savings account!) But they applaud themselves for setteling the account!
Over 8 months.. the money I paid them (thousands of dollars).. there was only enough in the account to settle one creditor a small amount.. A major part of that monthly payment goes towards THEIR fees... Not to the creditors..
Lets say you owe your creditors $50,000..
Their fee is 16% of what you owe.. ($8,000)
They want to get their money first.... before setteling with your creditors...
In the meantime, if sued, you have to pay an attorney and possibly court costs etc.. to deal with any creditors that come after you...
SO..... Beware!

Anyone have their phone number

I have been with the company for about two years. Recently I realized that payments stopped coming out of my account. I was unable to get a hold of the by phone or email. I called Global Client solutions where my money goes and after speaking to those wonderful people i got their phone number. It is 1-866-528-9169. The lady I spoke to at the California office explained that the phone company in Derry went out of business and they have none of the files or information for the clients that were being dealt with at that office? She seemed genuinly concerned and is trying to pick up were we left off, but it does scare me that they can just lose all the info and that i have been "left behind".

Here is their phone number 1-866-528-9169. I too was left behind since October and have finally caught up with them. The woman who I spoke to informed me that the office in Derry, NH went out of business in October and the recently found out about it. Unfortunately they have none of th records or information from that office. The lady was nice and seemed genuine, but i cancelled my account at global client solutions and will deal with the creditors on my own. Its crazy to me that this can happen

they ripped me off

beware:confused:

they got $3000.00 of mine and never paid a bill

don't bother they will rip you off

don't bother they took me fo $3,000.00 no debt paid

Thank you for putting out the full answer

But he is

if David Trachtenberg has any involvement i would strongly recommend you research this person fully. i have a client that was taken by someone with the same name

I have not much idea about this company but one of my friend dealing with this company and as per his experience all over good company and better service. Company has not long time experience but giving better guideline and proper service.

Do not deal with Capital Debt Settlement. I have had several conversations with David Henson (company president) and he is very knowledgeable about the settlement process. Unfortunately he has no scruples. At the exact point in which I had paid their fees in full they dropped my account and took my money. I will be suing them and one way or another I will be getting my money back. Furthermore, for those reading this that are in deep debt that need settlement services, save your money and do it on your own. I have settled two accounts on my own thus far without the help of CDS. They do not do anything (other than take your money) that you cannot do by yourself. Don a thick skin and deal in a harsh but business like manner with the collectors - don't believe their lies - you have rights. Save up and settle each account one by one. If not sure how there are self help settlement kits that cost a couple hundred dollars. Get a pre-paid legal service for $20-30 per month to write or proof read all your legal docs. You have rights and can do it yourself if you hang tough. CDS will set you back by thousands of dollars and will not settle your accounts. They are crooks.

Most Debt Consolidation Agencies(DCA) only resolve 20-75% of your accounts, that is because Creditors are not obligated to work with them. DCA makes money from you every month, so the longer they can keep you around the more money they make; this can have a negative impact if the creditor has 30-60 days before they move legally against you. Creditors and Collection Agencies know the business and have the idea of "if you have money to pay for representation, you have money to pay your debt in full". Chances are, you are better off making your own deals directly to save some money and to avoid a law suit.