I have settled 2 accounts on my own and have saved thousands. Do yourself a favor and don't use them, they are only in this for themselves. After numerous e-mails, faxes, and letters to FDR and CFT Pay, neither will respond to my complaints. Instead they decided to to withdraw $625.70 from my account for their settlement payment which I did not approve. My account still had enough money in it to make the final 3 payments to another creditor to finish the settlement. Someone within their company approved the settlement and had CFT Pay send a $500.00 payment without my approval.
I told them I will not approve it and have numerous emails to prove it. Three months later, FDR sent me a notice stating they reached a settlement with the same creditor, this time for $3, 500.00. They made a settlement on 1 of my accounts for $3, 000, paid for 3 months and on the 4th month CFT Pay sent a payment 3 days before they withdrew the money from my account, which would have had money in it, except FDR wanted their share and the account did not have enough money when the payment was sent. After reviewing the settlement, it was the same settlement I could have agreed to 2 weeks earlier and saved thousands of dollars by not paying FDR. FDR would contact me about 2 weeks later and claim they reached a settlement with so & so and I needed to approve the settlement cause it was time sensitive. They claimed they would settle the accounts, every settlement, the credit card company or debt collector would contact me for a settlement and I would direct them to Freedom Debt Relief. They withdrew $1, 030.00 per month from my checking account. I had signed up with Freedom Debt Relief, and they claimed they would settle all my accounts. I'm looking into cancelling, but I want to find out what the repercussions are.įreedom Debt Relief is a thief, also their affiliate CFT Pay is a thief. We are supposed to receive a refund of any monies still in the account, but I'm not sure I trust waiting until 2018 to find out. So now they are paying the $800.00 account $40.00/month and taking $100.00 month from me, when, as I said before, I have $2, 200.00 in the account already. I have more than enough money in my FDR escrow account to pay off both of these debts, but when I called them, they said that have to do the payment plans with the creditors because that's what they require. Now, they are showing that I won't be done with the plan until December 2018 and that's not even including the $500.00 account. My only complaint is that I noticed they took months to resolve the last two accounts and by doing that, my 3-year plan is turning into a 5-year plan.
The other one is $500.00 and hasn't been settled yet. I have all but two credit cards resolved, one which was for $1, 700.00 was settled for approximately $800.00 a few months ago and FDR is currently making payments to the creditor. We were $25, 000 in debt when my husband was laid off and we did not want to file BK so we chose this route.
T.S.12-03825.I am currently with FDR and have been for 3-1/2 years. However, negotiated settlements we obtain on your behalf resolve the entire account, including all accrued fees and interest. The use of debt settlement services will likely adversely affect your creditworthiness, may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest. Read and understand all program materials prior to enrollment.
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Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. Our service is not available in all states, including New Jersey, and our fees may vary from state to state. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. We do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. Not all clients are able to complete their program for various reasons, including their ability to save sufficient funds. *Our estimates are based on prior results, which will vary depending on your specific enrolled creditors and your individual program terms. Privacy Policy | Terms of Use | Contact Us | © Copyright 2022
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