Setup Fee: 15%
Monthly Fee: $85
Settlement Fee: None
Application Fee: $199
TASC Members: No
BBB Complaints: 171
DebtXS, or Debt Relief Options, which I was told they had just changed their name to, does not appear to be processing clients in house any longer. I was told that after the gentlemen I was speaking to took down my information, I would be directly transferred over to a law firm to begin handling my accounts. Debt XS was also forced to repay many of its Texas clients in 2006 for fradulent business practices, you can read the entire story here. Perhaps that is part of the reason for the name change?!?
- : 4.0
- : 3.5
- : 4.5
{ 2 comments… read them below or add one }
This company used (federally indicted) North America Marketing, Inc. to fraudulently enroll consumers into settlement programs using aggressive outbound sales techniques. The marketing agency routinely employed convicted con-artists who would extract consumer’s Social Security numbers, banking info, mother’s maiden names, and credit info. The agency changed it’s name several times before finally relocating to Maine, where it was finally raided by the Fed’s. Most of the secure info had been sold off to Nigerian Identity Theft outfits at the time of the raid.
PRO:
It was nice since I had no experience to have someone to guide me through resolving my debt issues (over $10,000). It worked, I am completely out of debt now.
CON:
I think the 15% was a little steep in the end for what I rec’d. When I was ready to pay the last card off, they took over a MONTH to resolve it – as luck would have it, it was shortly after we finished paying them their fee – in the end, it was a successful experience, but I would share my exp with a friend to help rather than refer him/her to them.
OTHER:
They are not a scam, but they are not for everyone. The initial monies they collect are their fee, they don’t pay your creditors for you, merely put you on a plan for savings & then negotiate the credit as low as they can for you and then you pay it from the savings.
JM2C, YMMV