reviewer
ladygray
Richmond, VA

Debt solution programs don't work well

1 star rating

in debt

JUL
25
2008
Just got back from the courts.  I found out that most debt solution programs are not good.  They take your money and do little or nothing to really solve your problems.  The Judge has seen it many times.  I figure my "lesson" has cost me over 900.00  I know I lost all the "fees" but I may lose what little I have supposedly "saved".

I signed up with Renaissance September 2007.  They have not contacted a single creditor I listed.  One of the creditors, Capital One took me to court.  I found that contrary to what they say most creditors will accept less than the 10% they home for.

My best advice is go to the local community based groups that help you set up payment plans and get you real help.....FOR FREE!



I_thumb_down Renaissance Debt Solutions is not recommended by ladygray

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I_comment_shdw24 Comments about ladygray’s Review

 


DebtBeGone wrote on Feb 13, 2009 at 10:16PM

Our Company has clients in the FBI, IRS, Dept. of Treasury, DEA,
Sheriff's, Police Officers, Teachers, Business Men, retireree’s, college students, &
employees from some of the major banks, etc.....

There are good Companies out there. I admit it is sometimes

confusing and annoying to have to sort through all the crap to find

a gem. I do agree with you though that Renaissance Debt

Solutions is the wrong Company to help anyone.

I won't mention the Company i work for. This is not about

self-advertising. Just trying to correct your BAD ADVISE.

And unlike other companies, we do provide proof of our

settlements......so your claim again that they only accept 10% is

grossly incorrect.....we settle from 10.8 cents on the Dollar(Bank of America) to

40 cents on the Dollar.

If you with the right Company, going to court would of been a good

thing for your program.

I sympathize with your misfortunate, i wish we would of talked

before you went with Renaissance.....

Please feel free to comment. Happy to answer or help anyone with

their debt problems.

DebtBeGone wrote on Feb 13, 2009 at 10:13PM

You wrote: My best advice is go to the local community based groups that help you set up payment plans and get you real help.....FOR FREE!

....first, name one community based group that can do better than this..just an example based on an average debt settlement client with a good company : at the very least, after fee's, you will pay back at worst, half of what you owe. There are thousands of people who have successfully completed such programs. Companies with perfect BBB reports and Zero complaints from their clients. Companies that have been in for decades and not one
complaint! Your advise is go to these community based groups is code word for Non-Profit DMP's( Debt Management Program).In these programs you end up paying back more then you owe, because you're sending your monthly payment to them, and they are sending it to the Creditors, it gets reported on your Credit Report that a third party company is managing and paying your bill's for you. Looks just as bad as a Bankruptcy and Foreclosure.
The programs last as long as 5-6 years. It is devastating to your credit report, but some people do need this type of service. A debt settlement program, done by a qualified, regulated company, is going to save you at least 50%, lower your monthly bill by Half and have you out of debt in as little as 6 months or as long as 3 years.
A lot of people need and are taking advantage of this type of help.

DebtBeGone wrote on Feb 13, 2009 at 10:13PM

It is a common mistake...a lot of people do it; We go into something without doing any research on the company we mean to do business with.

Your lesson did cost you money.

It could of cost you a lot more.

My question for you is this: Who are you to lay any judgement on an industry that you know barely anything about. Are we supposed to follow the advice of someone because they got burned by 'one company' Now you're an Expert....please explain.

I just heard about the company today, and in 30 minutes have seen enough to know that this company is too small, too inexperienced, and not even a member of Tasc ( http://www.tasconline.com/ ). They also have very questionable fee collections and not the most impressive track record of success. And few clients, evident by their financial report of only clearing 500,000 a year.

Maybe if you would of checked out their BBB report you wouldn't of became a victim of this small and inexperienced company.
here's a link to the BBB report http://greatermd.bbb.org/WWWRoot/Report.aspx?site=41&bbb=0011&firm=90004649

Also, you could of checked them out on Rip-off report, http://www.ripoffreport.com/reports/0/385/RipOff0385159.htm