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Fidelity Debt Solutions / Stay away

United States Review updated:
4.65
Contact information:

The biggest mistake of our lives was the day my husband and I joined Fidelity Debt Solutions in order to lower our credit card bills. Their website and their reps. mislead you and misrepresent what they are able to do. We were given a monthly payment plan and told that they could lower our credit card balances by up to 60%. Our plan was for 30 months. They charged us very high fees also. Long story short, 8 months into the program these accounts went to collections and one got a money judgment on us. The entire time the collection agencies were contacting us Fidelity convinced us that all was well and they rarely ever took anyone to court. BIG lie, both of them have. We were faced with garnishments. We had no choice but to file bankruptcy. Fidelity has ruined us financially. You see... before we joined Fidelity we had only been late a couple times on one account, the other always on time. The problem was we were without income for almost a year and had to use the cards to get by. Once the income started up again we knew we had to find a way to lower our monthly bills in order to build up our savings again. We never wanted to get in the position again of not being able to meet our bills. Only on Fidelity's advice did we stop making payments. They told us once we joined their debt management program we had to stop paying the credit card bills because of the negotiations. Well sadly and too late we realize that the credit card companies will not work with these types of debt solutions. We were under the impression that payments would start right away. That is not true. Fidelity does absolutely nothing until you have built up enough funds in their special account to make the creditors an offer. And guess what??? They do not wait for you to get enough money, they turn your accounts over to collections and the next thing you know you are being sued for money judgments and the creditors always win. Then they can proceed with garnishments. And I learned that just because you are self-employed you are not protected from garnishments. They can garnish a checking account! I called Fidelity many many times and was very upset and frantic because things were really heating up. They always told me not to worry, nothing was going to happen. They also told me the only thing they could do if they got a judgment was put a lien on my house and as long as I was not planning to sell it, it meant nothing. Not one time did they say they could garnish wages or bank accounts. We have filed a complaint against them with our state attorney general. I know nothing will come of it, but at least Fidelity knows the complaint will be on record. If you ever want to do a debt solution there is only one that can help you. It is Consumer Credit Counseling Service, which is a non-profit organization. They do start payments immediately but it works best when you do it before accounts are given to collections. We tried but the collection agencies would not work with them. Therefore our only recourse has been bankruptcy. We are hoping that our future will be brighter and happier soon! Stay away from any debt solution agency you find online. They always charge huge fees too. CCCS does not charge much at all. Fidelity Debt Solutions website is online and they are based out of Irvine, CA.
Ba
0

Comments

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Ja
  22nd of Sep, 2008
Agree Disagree +1 Votes
I don't really believe this story. Why would you pitch Credit Counseling to someone and advertise a product you have no knowledge about and not tried. YOu said you filed for BK, so why would you all the sudden sell or advertise a CCCS program?
Ba
  1st of Oct, 2008
Agree Disagree -1 Votes
I am the person who wrote this complaint and IT IS ALL TRUE! I am not pimping CCCS, I am trying to explain to people that there is a big difference in how CCCS operates and how most of these other debt solution places operate. CCCS immediately starts making monthly payments to your creditors, the others do not! All they do is hold your money in an acct. until you have enough to pay your creditors. Only problem is the creditors will not wait 2-3 yrs for their money. And the whole time you are trying to build the bank account to pay them off they continue to add late fees and penalties, which in 10 months with Fidelity added thousands of dollars to what we already owed. That is why we are now in bankruptcy, there were money judgments, and garnishments within 10 months of starting the Fidelity program! We did try CCCS, (after Fidelity) but by the time we realized that they operate differently then Fidelity, it was too late, the creditors had already started the judgment/garnishment and would not settle for the payment plan that CCCS offered, which was determined by what CCCS felt we could afford to pay. So DO NOT sit there and tell me I know nothing about CCCS!
Ja
  5th of Nov, 2008
Agree Disagree -3 Votes
Fidelity Debt Solutions is a scam. They used to have their accounts serviced by a reputable back end servicing company called QSS. They stole information and personnel to try and capitalize on people like you without having to do the job correctly. I am sorry for your loss. I am an investigator hired by TASC to seek out companies that are giving the industry a bad name and Fidelity has been on our radar for months. We have an open file with them and several requests for an investigation submitted to the FTC. Their advertising is also run by Engine Ready out of San Diego. They currently advertise for American Financial Service as well. Sorry to hear about your BK. Please file a complaint with the Attorney General of your state so that you can block them from doing business there again.
Dr
  13th of Jan, 2009
Agree Disagree -1 Votes
This woman's story is 100% accurate, as my experience is EXACTLY THE SAME. EXACTLY. At this point, I am now filing bankrupcty to save myself in any way that I possibly can. My attorney told me that these places are a scam and to file a complaint with my Attorney Generals Office as well. After I file bankruptcy and get through this mess, regain some energy, I plan to do so. I did file a complaint with the Better Business Buerea. I received a response back from Fidelity, much of what they wrote were lies. I guess after they rip off people all day long, they need to lie to help themselves sleep at night. Seriously, avoid this company. If our messages save even one person from getting ripped off from this organization, then I will feel a little better.
Sh
  20th of Jan, 2009
Agree Disagree -1 Votes
Thank you for this information, my husband and I, have been talking with Fidelity, and actually were considering going through with them, I am so glad, I found this web site, thank you so much, I'm sure you saved us a lot of STRESS, you mentioned CCCS? I have tried looking them up, and there is so many, even Fidelity came up under that, do you happen to have a good website, or maybe know where they are based out of? I would appricaite any information, anyone has to offer. I am so sorry, for what you had to go through, I hope things get better for you and your husband.

Thank you!
Vo
  12th of Feb, 2009
Agree Disagree -1 Votes
PLEASE STAY AWAY FROM FIDELITY.
My parents got involved with them 1 year ago with the intentions of paying their debt. However a year later the phone calls from collection agencies increased. Court dates notifications start to arrive. Fidelity does not do anything, they are taking monthly payments from you and pretend that they are trying to negotiate with your creditors.
Your creditors on the other hand are trying to inform you that no one from Fidelity has try to contact them.
PLEASE DO NOT GET INVOLVED WITH THEM. THIS WOULD BE YOUR BIGGEST MISTAKE.
I am trying to find a legal way to report this scam and get my parents money back. I can't imagine seeing my mom crying all the time.
Ch
  16th of Feb, 2009
Agree Disagree -1 Votes
I am sick to my stomach, wish I would have researched this FDS b4 joining up. I have a court date tomorrow with a creditor. FDS kept assuring us that the creditors would not go to court and garnish wages. If I find out they never contacted these creditors, who are taking me to court now, I will sue them for all back. Thx for the heads up all.
Ji
  19th of Feb, 2009
Agree Disagree -1 Votes
I am seriously considering a class action lawsuite.

If you are also a victim, and would like to join me, please send a private email to:
jimnorton@wlbiz.com
Ja
  24th of Feb, 2009
Agree Disagree 0 Votes

Fidelity Debt Solutions - Scam
fidelity debt solutions
Florida
New York
United States

I have signed on with fds and I was served with papers from one of the credit card companies today they are sueing me. I then called fds who preceeded to tell me to fax everything to then and not to worry. I have now found this website and am reading all these complaints and think at this point I need ro file bankruptcy so I can stop paying these crazy fees to fds. They seem to collect all their fees up front and leave you nothing to work with to settle with the credit card people. What do I do fds tells me not to worry that they can still help me.
Da
  27th of Feb, 2009
Agree Disagree -1 Votes
I just joined FDS over the phone and was supposed to receive a welcome package in the mail to sign, etc. I have not received the package in 2 weeks and today I noticed they have already taken money out of my checking account. I was under the impression that I had to sign something to authorize them to take money out. Evidently I agreed to this during our phone call - I do not recall agreeing to it and believe they should not be able to take money unless I sign an authorization. Anyway I have filed a complaint with the fraud unit of my bank so I can get my money back and I have left a message with the contact person at Fidelity to attempt to straighten this out. While waiting for their welcome package I received a threat from one of my creditors of legal action. This prompted me to look into Fidelity a bit more and I found this site. Glad I did. I have contacted ClearPoint Financial and now have a solid plan to pay my debt in 4 1/2 years, saving me about 70 years of minimum payments and $96, 000 in interest fees, while at the same time keeping me out of court as the creditors happily work with ClearPoint to resolve the accounts. Still waiting on return call from Fidelity to get my money back, but I do have the Fraud unit at my bank involved so I am hopeful I will get it back soon.
De
  10th of Mar, 2009
Agree Disagree -1 Votes
Thanks to all of you who wrote in on this. I literally had just written an email to the representative at FDS and have scheduled to speak with him at 5pm today. Well, that's not happening! I'm so sorry for those of you who got so screwed by this company, that's just awful! I pray that you recover from all they've done to you. Funny thing is, I've been skeptical for 2 weeks while talking to this guy and today I said, hell I'm going to call. Yet, I decided first to check out their website and came across this one...thank GOD! And, thank you all again.
Vl
  1st of Apr, 2009
Agree Disagree 0 Votes

Fidelity Debt Solutions - Unauthorized charges
Fidelity Debt Solutions
United States
fidelitydebtsolutions.com

On September 25th of 2008, I signed up with Fidelity Debt Solutions to handle my mounting debt and inability to pay creditors due to a medical leave from work. I was told they would start to work on my creditors as soon as the first two inflated installments were made. It is now three months after the fact, and I have Creditors filining legal action against me. Fidelity's answer? Just ignore them, they are just trying to scare you into paying. I have filed with my state's Attorney General, and I am getting ready to file with the FTC.

I strongly advise anyone thinking of using this company to go elsewhere, I did and I am happy with them.
Ba
  5th of Apr, 2009
Agree Disagree -1 Votes
Hello, I am Babs who wrote the complaint about Fidelity Debt Solution back in Sept.'08. I have not been back on this site for a long time. After writing that I filed a complaint with the Ohio Attorney General's office. The OH. A.G. was super. They told me they have so many complaints about these debt solution companies, but none on Fidelity. Probably because they are out in CA. Anyway I have to say that once the A.G. got involved we had FDS 's attention. Long story short we got about 80% of our money back. Interesting huh? Proves to me they are nothing but a bunch of crooks and scammers! I urge all of you to contact your state attorney general and file a complaint. We did indeed go through the bankruptcy and got our discharge. Now we are trying to put our lives back together.
One of you asked about CCCS. That simply is Consumer Credit Counseling Service. I think they are in most states. The difference is the one we went to has been in business for over 50 yrs. And they are a non-profit organization. They do not promise you those unbelievable results like FDS. They can only negotiate lower interest rates, and reduced or eliminated penalties. BUT you will have the best results if you contact them BEFORE your credit card companies or other creditors turn your accounts over to collections. Those people do not work with CCCS. From what I can tell they do not work with anyone. So don't let it get to the point that it goes to collections.
I wish I knew then what I know now. I am not normally a naive person. I think the feeling of despair and panic caused me to tune out that little voice in my head that said if it sounds too good to be true it probably is! Like some of you it was the same with us. When the collection calls and all their threats started we were told by FDS they were just trying to scare us and almost never took legal action. Let me tell you they all did! And now to hear they did with you, I know I was not the exception!
The sad irony of this whole thing is CCCS recommended payments to our creditors. One was 100.00, another was 150.00 and another 250.00. They all refused to accept that amount. They said they required at least double what CCCS told them we could pay. They wanted more money and wanted it quicker then the 4 yrs CCCS had set forth. We are on a repayment plan through the bankruptcy and we are paying far less then the approx. 700.00 we would have been paying if we agreed to pay what the creditors insisted on. They would have had that amount over a 4 yr period. Now we are paying 300.00 per month for 3 yrs. So they will end up with far less then they would had they worked with CCCS. Don't misunderstand, I am not recommending bankruptcy for any of you. It has wrecked out credit and it will be a long time before that goes away. My point is that it is so awful that we were forced by our creditors to file BK and for what? They sure did not come out ahead! And the only thing we benefited from was it stopped all legal action and the pending garnishments. I hope all of you who have written comments have had a better outcome then we did. I would not wish this on my worst enemy. It sounds like I may have helped a few of you, and if so I am glad some good came of our tragedy.
Ja
  7th of Apr, 2009
Agree Disagree 0 Votes
I had the same thing happen, however i had enogh money in my account to settle two of my debts, one in which sent me a legal notice that they were going to sue. i told my rep about it and they advised that they would get it resolved immeditly, three months had gone by and nothing had been done, they told me that they had been working with the debt collecter and are getting close to a settlement. i was getting concerned so i called debt collector, who were also an attorney's office and they advised that they had never recieved anything from Fidelity debt solutions, not even a letter saying they were handeling the account. I settled the account on my own, and was then told that if i would have waited two more days they were serving me with a court summons, which i would have lost in court, and have an additional 230 dollars added to teh full balance. Fidelity Debt Solutions will only take your money, lie, and screw your world up. Stay away from this company!!!
Vl
  13th of May, 2009
Agree Disagree -1 Votes
Hi can some one tell me a good debt company I can go true
Da
  16th of Jun, 2009
Agree Disagree -1 Votes
I actually did my research on Fidelity before joining 6 months ago. They did not have any Better Business complaints and seemed reputable. Six months now and they have not settled anything with anyone. They are going to wait until they are fully paid the 14% before they do anyting. Looking to get out. I looked at my account and more than half of what I have paid has gone to fees. No creditor has been contacted yet.
Fi
  27th of Jun, 2009
Agree Disagree -1 Votes
I have just been issued a summons. Like every other person that has complained about Fidelity on here, my story is the same.

I agree with one of the above users, there should definitely be a class action suit against Fidelity. If I would have worked with a legitimate company, my problems would not be so big. Now, sadly I must file bankruptcy. :(
Cl
  31st of Aug, 2009
Agree Disagree -1 Votes
If anyone is interested in filing a class action lawsuit against these guys, email info@iavla.org
Sa
  21st of Sep, 2009
Agree Disagree -1 Votes
I agree with all you people. I was issued two summons and these people did nothing to help. They tell you to fax copies of the summons and they just ignore you and your calls. I am trying to get all my money back but they are trying to tell me that I can't get my fees back. I agree there should be a class action suit filed against them. I am going to see how you go about doing so.
Cl
  23rd of Sep, 2009
Agree Disagree -1 Votes
I agree with all you people. Can we make a class action suit filed against them together?

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