Debt Consolidation Can Offer No Debt Relief

Debt consolidation can offer no relief

Does this scenario sound familiar to you? You were contacted by one of those out-of-town debt relief companies, or you contacted them, made the arrangements, and have been making payments for over a year. It seems to be working as no one has been calling you. There are no letters from debtors or lawsuits.  You are feeling optimistic that this financial nightmare will be over in a couple of years.

That’s exactly what my clients had thought. They had paid over $14,000 to one of these companies for over a year-and-a-half and they thought they were on their way out of the hole.

Then, the lawsuit hit in the Court of Common Pleas of Erie County. They were facing over $8,000.00 plus costs and they had 20 days to respond.

What Happened?

They thought the debt consolidation company was going to protect the – at least that’s what the company said they would do.  The debt consolidation company told them to ignore the lawsuit. They were being sued in their own county, and were being told to ignore it!

You can get away with this kind of terrible advice when you are a company from out of town because there is no office to walk into, or an employee to confront. And, to say the least, this was terrible advice.  Luckily, they decided to give us a call at Steidl & Steinberg.

The Fix

I arranged for them to do a Chapter 13 reorganization under the Bankruptcy Code. The payments were similar to what they were sending to the so-called debt consolidation company but there was one big difference: the Chapter 13 plan works! It is done with a Court order and if they had done the same thing a year-and-a-half ago, and they would have
saved $14,000.00.

If you want the truth and some real solutions, contact us and let us show you some real options, done by real attorneys, who know what they are doing.

9 Responses to Debt Consolidation Can Offer No Debt Relief

  1. I HAVE BEEN USING FREEDOM DEBT RELIEF FOR ALMOST 3YRS.ALL OF SUDDEN THINGS SEEM TO BE CHANGING IN REGARDS TO MY SEEING ANY PROGRESS. I WOULD LIKE TO SEE ,WHAT IS GOING ON.I WOULD APPRECIATE YOUR HELP. THANKYOU.DAVE GITTLEMAN

  2. Do you do any debt settlement, or only bankruptcy? Can you recommend a debt relief/consolidation/settlement company if you do not deal with these options?

  3. I have been sending money to Debt relief company and now all of a sudden nothjn g is happening and i winder what is happening to my money

    I believe that Discover and synchrony bank have filed suit
    Not sure

    I am in dire need of help
    Thank you

    • Dear Ms. Pusateri,

      The question you have about debt settlement agencies is a common one. It sounds like it would be in your best interest to speak with an attorney.

      Thank you for your interest in Steidl & Steinberg. An attorney will be contacting you regarding your financial situation.

      Thank you,
      Tom Rose

    • Dear Mr. McCartney,

      Bankruptcy fees vary by the client’s situation but, when you consider the alternative, it can be a very worthwhile use of your money to eliminate the debt that is creating the stress in your life.
      Thank you for your question and interest in Steidl & Steinberg. An attorney will be contacting you regarding your financial situation.

      Thank you,
      Tom Rose

  4. I need friggin help! I owe a ton in credit cards and I’m past due and in collections. I am super stressed and can’t do debt consolidation in no way. Can you help me?

    • Dear Ms. Kotvas,

      Thank you for your question and interest in Steidl & Steinberg. An attorney will be contacting you regarding your financial situation.

      Thanks you,
      Tom Rose

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