How do you spell debt relief? Certainly not DebtPro 123, LLC
If you’re looking for help to improve your financial situation, the last thing you need is a company that will take you out of the frying pan and into the fire. And yet that’s just what an Irvine, California-based debt relief operation did to some consumers.
The operation claimed that consumers could reduce the amount they owed by 30 to 70 percent, and promised that they could “become debt free and enjoy financial independence” in as little as 18 months. It didn’t quite work out that way.
In fact, the Federal Trade Commission has charged DebtPro 123 defendants with billing people as much as $10,000 based on deceptive claims that it would provide legal advice, settle debts, and repair credit in three years or less. Instead, the scheme often left consumers worse off than they were before. And although the operation promised to refund unsatisfied customers, it rarely did.
There are signs that a company that promises to help you manage your debt may not be on the up and up. Avoid any organization that:
- charges fees before it settles your debts
- tells you to stop communicating with your creditors
- guarantees that your unsecured debts can be paid off for pennies on the dollar
If you need help dealing with debt, contact a credit counselor. A reputable credit-counseling agency should send you free information about its services without requiring you to give details about your financial situation or pay any money before they provide services.