About two months ago a received a very threatening letter in the mail from Nationwide Debt Reduction Services that I thought was a collection notice. The information on the letter wasn't accurate but it stated,
"Failure to call [us] and make your minimum monthly payments will likely result in interest accruing on your unsecured credit balances at an unreasonable rate."
I did some browsing online first before calling them and found that they are sending out these spam pieces of mail to everyone. I left a review on Google maps and was contemplating on removing it recently until I received another letter. I was frustrated because I don't want other people seeing it and thinking I'm in debt. So I called them and what they say sounded interesting but I hung up and when I went back to look at reviews I made it show low ratings first and I'm not the only one. So I did a google search on the company and found a lot of complaints from the BBB.
I must have spent at least an hour reading on this company. When I found out it was debt settlement and not a collection agency and wanted to learn more about it. Someone very close to me could use this help. But one site gives them a 7.9 out of 10 ratings then another gives them a 2.7 and Yelp is 1 star. So which should I trust. In the 5 star reviews on Goole people are saying "Nationwide Debt Direct" and I find that this was their prior company. It looks like they were collecting fees upfront and now they are not collecting fees until all the debt is settled. I saw someone asked the same question about Nationwide Debt Direct in the forums a few years ago so I'm wondering if I should consider all the information as one or not. I researched other debt settlement companies and I see the same thing. They all have very mixed reviews. Some call them scams and some swear by their services.
I haven't found any lawsuits against Nationwide Debt Reduction Services just a lot of bad reviews and complaints. The BBB has over 50 complaints this year on them and the Consumer Financial Protection Bureau has a lot of complaints on them as well, and I've found them on complaints sites like Rip Off Report!
I'm considering referring my friend to a consumer counseling program it turns out they also received a letter in the mail but it was from another company in Texas.
Anyone find anything else on Nationwide Debt Reduction Services? Or have any experience with letters, calls, or being a customer?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.