(Isma from Texas) last year i entered an agreement with ghs solutions. i am being sued by citi bank. i have come up with the money that citi bank will settle with. How do i go about doing away with ghs solutions and if i do that will i lose the money that has already been in the account which is 660.00.
Dear Isma,
Unfortunately, you have experienced the common problem of dealing with a debt settlement company. Your creditors are beginning to sue you long before your debt settlement plan can accumulate enough proceeds for a settlement.
This low balance is due to the extreme upfront cost that debt settlement companies charge for their “services.” Since you agreed to these costs as a part of your contract, you are likely unable to receive a refund of any of those fees.
You have lost access to the money in which you have paid as fees. You may be eligible for a refund of that $660 so that you may combine it with your own funds and attempt to settle directly with your creditor. Keep in mind that some debt settlement companies also charge a termination fee, which could be at least $300.
You may also wish to lean on your debt settlement company to make them earn their fees. Sometimes threatening to file a complaint with regulators may cause them to try and do something on your behalf. In the end, you will likely find that your payments to your debt settlement company have been wasted.
Since your debt settlement company failed to provide the services in which they promised you, I recommend filing formal complaints with the following entities:
- Better Business Bureau report on GHS Solutions
- Your state’s Attorney General
- Federal Trade Commission
You may also wish to share details of your debt settlement nightmare with others at Debtors Unite.
Tags: debt settlement company, GHS Solutions
I have learned that you can create your own world if you know what you are doing. You can send your banks and collection agencies notices that they will not respond to and put the monkey on their backs. I have stopped 5 collection agencies by noticies and the banks won’t either bother to contact me. My only delema now is getting my credit report cleared in which I plan to use the same tecjnique.
either should be even in line 4 and tecjnique should be technique in the last line.