Comments on: New Era Debt Solutions

By: Sandra

Sandra — Tue, 26 Oct 2010 19:08:13 +0000

Beware..This place made me believe that MOST ALL people can claim insolvency meaning they had no way of paying off the debts on their own and no way to tap into money to pay off what they owed, the debt was greater than their assets. However, I had money in my 401k and some jewelry, my car that equals out to more than I owed therefore I may have saved some money in that the debtors got 50% to 60% of what I owed but the REALITY is that I was considered solvent so that money that was “forgiven” by my creditors got added in as taxable income and I got tagged with an $8000 tax bill between the IRS and the great state of CA.. BEWARE and MAKE SURE you don’t own anything or have enough in your 401k (even if you can not get to it and use that money) before you do this as the State of CA and IRS are not so “forgiving” and want their money right away. If I add up what I owed it probably equaled out to what I ended up paying off, plus New Era’s fee and the taxes I ended up owing.. Was not that great of a deal for me and the same thing will happen to me this coming year being as they finally settled my last debt so again THAT “forgiven” debt gets tacked onto my income for 2010 which will be due in April so I now I have an ongoing monthly payment that never goes away and with each settlement seems to be worse. BEWARE!!!!

By: Alex Viecco

Alex Viecco — Fri, 06 Aug 2010 22:26:35 +0000

Hello Everyone,
I am VERY proud to announce that NEW ERA DEBT SOLUTIONS is the first company to be in compliance with the new FTC Ruling for Debt Settlement companies.
New Era has been providing the quality service for a decade based on performance and we will continue with the same standards keeping the client’s best interest at hand, ALWAYS!
We could not be happier for the “Advance Fee Ban”. In the last decade we have seen the industry grow and attract the people that were only looking for a quick buck, therefore consumers would fall pray to cheap sales tactics.
Our fees have always been and will continue to be based on performance, as consumers we understand it is our responsibility to deliver to our clients.
Please read the FTC ruling-
http://www.ftc.gov/opa/2009/07/tsr.shtm
Sincerely,
Alex Viecco
VP/Co-Founder
New Era Debt Solutions

By: Dan

Dan — Thu, 20 May 2010 19:47:39 +0000

Screw New ERA Debt Solutions. I have a friend who had been working their a month. He was already doing better than most of their staff and had never been late, never left early and had not missed one day. His teenage son has a rare liver disease that makes monitoring his blood sugar closely, well his son’s levels reached critical levels instantly and his son had to be rushed to the hospital. My friend had to leave work a few hours early because any hospital visit means his son is on death’s door. My friend had to stay the next day also, so we are talking about one day missed. What did this heartless company do? They fired him and told him he could come back when he got all this straightened out. STRAIGHTENED OUT?! What do you expect?! The kid to have a miraculous healing?! WHAT IF THIS HAD BEEN YOUR KID?!?! You wouldn’t fire one of your family members if this had happened to them. You can’t treat people like this and to think I almost used this company upon recommendation of my friend but screw them!

By: Damon Day

Damon Day — Sun, 14 Mar 2010 05:02:31 +0000

Thank you very much for correcting the review promptly when it was brought to your attention. It will certainly go a long way toward helping consumers to compare apples to apples. Also I did make a mistake in my previous comment.
I said that the contract states clearly that their fee is 15% of “savings”
I of course meant 15% of “total Debt.”

By: Chris

Chris — Thu, 11 Mar 2010 12:34:16 +0000

My experience with New Era has been great. I found them on the internet and called them. After talking to 4 or 5 other companies I felt New Era really answered my questions. The service has been great and they always were there to take care of me. When I started I had over 45,000 in debt and in less than 2 years my debt is gone and I saved over $20,000. I highly recommed New Era.

By: Stephen Kelly

Stephen Kelly — Tue, 23 Feb 2010 18:19:20 +0000

This is like an Omen, the worst debt settlement company in history. No services done and over $2000.00 in charges. What a mess? Let anybody call or e-mail me. I will show them never to trust this company. Thanks.

By: Damon Day

Damon Day — Tue, 12 Jan 2010 05:01:12 +0000

I am a bit perplexed by the review on this site as it is incorrect. You state that New Era only charges a fee of 15% of the savings. That is not correct. They charge a fee based on 15% of the total debt. This is a critical fact, since the point of your review is to say that they charge half of what most debt settlement companies charge. I am reading their contract and this is the line that states clearly their fee is 15% of the savings.

“c. Settlement Fee: A fee charged each time CLIENT agrees to and/or enters into a settlement with a creditor that has
been submitted by CLIENT to NEW ERA for negotiation. The fee is an amount equal to fifteen percent (15%) of
the amount of each account when entered into the program (“Account Balance”).”

I understand your error because I have spoken to many consumers that have been mislead by New Era sales people to also believe that the fee is only half of what it is.

I thought it was only prudent that I bring it to your attention as I know you want to keep the integrity of your reviews.

However, what I am the most perplexed by is that Dan Smith would come on and praise the review with such a clear and significant error.

Clearly the president of New Era Debt Solutions must have noticed that this review mistakenly misrepresented the fees and claimed that their fees were half of what most companies charge. Not only does he not correct the error but he claims the review is accurate. I find that to be the most telling part of the review as it pertains to New Era.

By: Dan Smith

Dan Smith — Fri, 13 Jun 2008 13:36:49 +0000

I love the idea of a web site like Debt Settlement Reviews that honestly reviews and rates Debt Settlement companies with accurate information. I, as president of New Era Debt Solutions, would love the opportunity to speak with the owner of this web site.
Thank you! Dan Smith