Setup Fee: 15%
Monthly Fee: None
Settlement Fee: $15 per settlement
TASC Members: No
BBB Complaints: 0
In Business Since: December 2007
Help U Out of Debt, also known as Help You Out of Debt, is a Corona Del Mar, CA based debt settlement company. They have been in business since December 2007 and have received zero Better Business Bureau complaints, giving them an F rating with the BBB. They are not TASC members but do belong to the IAPDA.
Help U Out of Debt charges a flat 15% of your debt amount plus a $15 per settlement fee. This is the first time I have ever heard of a per settlement charge. Help U Out of Debt is a “front end” only company. This means that, similar to many mortgages, they will sell your account to a “back end” company that will make your settlements. Please check with them to see who will be providing customer service on your account. I was told on the phone that they have been in business since 2001, but their BBB account indicated Dec ‘07 as the business start date. The company may have changed names, which is almost always a bad sign.
Do salespeople earn commission: No
Stop creditor calls: Send out cease and desist. Should stop within 4 months.
Make monthly payment to creditors: No
Can I get sued while on program: Assured that situation would be resolved before legal action.
Tax Consequences: Will receive 1099 form.
Where do they hold money: Note World
