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Debt Shield

Date: Wed, 02/04/2009 - 04:32

Submitted by anonymous
on Wed, 02/04/2009 - 04:32

Posts: 202330 Credits: [Donate]

Total Replies: 1


Hello. Can anyone give me first hand information on the company named Debt Shield? (out of Maryland) They seem to be pretty good; they are members of TASC and USOBA and also won in 2007 the BBB of Maryland Torch award for marketplace ethics. I am just wondering of anyone has had dealings with them or an opinion.
Thanks


Initially they really helped me, I owed $80,000 on 10 accounts. They settled the smaller accounts first and paid about 30% on rach one of them. Which was great. However, after the remaining accounts with high balances were over 1 year delinquent, legal proceedings were taken against me by the 3 remaining creditors. Since I did not have enough money in my account to pay the usual 30% of any one of these debts, Debt Shield did not contact them on my behalf. The accounts were tuened over to attorneys and I ended up paying 100% on the 3 remaining accounts.($48,000). If you do not have 30% of any debt in your Debt Shield account they will not even attempt to call to arrange a settlement. AND they do not give you this information until it is too late. If you can keep 30% or more of your outstanding debt in your account they do great. Otherwise, you end up paying in full. Be careful


lrhall41

Submitted by on Thu, 02/12/2009 - 17:50

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