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My Debt Choice / Bogus Monthly Fee

1 WV, United States Review updated:

Consumer. Beware! Like a fool, not only did I neglect to listen and read carefully enough, I didn't even notice, until months later, that My Debt Choice was charging me a bogus $20/month. Let me explain...

I needed help to reduce my debt, and heard CREDIT ANSWERS on the radio, who reviewed my situation and hooked me up with MY DEBT CHOICE, who reviewed my mountain of debt and hooked me up with CONSUMER'S ALLIANCE.

Now, of course, I could expect a fee from MY DEBT CHOICE for their work... but a MONTHLY FEE?? Once they passed me to Consumer's Alliance, they were through with me. Well, I just spoke with Angelina Medrid on MY DEBT CHOICE [protected] x2112) and she is refunding four month's worth of charges from when I originally made the reques that the charges be discontinued. I asked her what sort of service her company provides on a monthly basis. Her reply? "Monthly communication" and referral service, in case I needed a bankruptcy lawyer, etc. "What monthly communication?" I asked. She said they monitor the accounts to see whether consumers are on time or whether they fall behind in their payments. "And what, " I asked, "action does MY DEBT CHOICE take if a customer does fall behind?" None. So, in other words, just like I thought, THERE IS NO PURPOSE FOR THE $20 MONTHLY FEE, except to make money.

Hey, I have no problem making money. But I support folks who make money ethically. So, I will spread the word to be wary about MY DEBT CHOICE.

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  • Ma
      18th of Apr, 2009
    +1 Votes

    So Tom, when you first called did you have the information available and ready so the consultant could give you an accurate qoute, or did you make them pry it out of you over a period of time? I bet you never go to the car wash without your car. When they plugged in all the numbers did they tell you that there was a "clear and obvious" benefit? If there is not a "clear and obvious" benefit the consultant knows that the file will be rejected and all the time spent on you will be for nothing. Did someone explain how much money you will pay over the course of a long period of time because of the interest rates you are being charged? When they explained that the program did offer a considerable reduction in interest rates and that in a definitive amount of time (3 to 5 years) your debt will be paid in full did you miss the part where some of that money saved will contribute to the efforts of those that are helping you? When you realized that $20 a month would go to the people that take a payment from your account each month, distribute that payment to each of your creditors in a timely fashion to insure that your accounts are current, track the book keeping to insure that they hold up their part of the deal ... that must have made you very angry. That feeling that once again some one has a hand in your pocket ... but you were so angry that you couldn't see the money that the hand is putting in.
    So when you stomped your foot and said "I don't understand", My Debt Choice said here is your money back.
    In five years, when you are still struggling to make minimum payments on those accounts that just don't seem to get much smaller, you make sure that you tell everyone, "spread the word", that My Debt Choice wasn't able, despite their best efforts, to help you.

  • Su
      22nd of Apr, 2009
    0 Votes
    My Debt Choice - Unauthorized billing
    Debt Choice
    United States

    Debt Choice is a company I called to help me with my debt situation, thinking that they will give me good non profit advice and assistance. The company was very encouraging and 'fast talking' when I spoke to them. They said a bunch of stuff quickly and wanted me to give them my name, address, phone # and email address. They also want all the credit information also, who do you owe and how much. They do ask also ask for your social security number.

    They send you an email for you to fill out the fields of the creditors or companies you owe, account numbers and amount balances. Once you give them all that info they tell you what you already know; how much you owe total. Now the 'sell pitch' comes as they tell you don't worry, they are going to have you debt free in let say two years.

    Then they ask you questions like how much would you like to contribute each much to eventually how much money are you making, what are your expenses and how much you think you can afford to pay.

    All of this sounds good so far until the finally tell you that your first payment is going to be thier fee.

    They tried to charge me about eight hundred dollars.

    Although they warn you that your credit rating is going to reduce or get worse most likely and that the creditors will still keep calling you (as if they are not getting paid).

    You should not worry just know that you will be debt free in just a thirteen to eighteen months.

    They say if your creditors keep calling (I wonder why) just tell them to call Debt Choice. Your creditors (if they care) will probably tell you that you are being RIPPED OFF. Your creditors will probably tell you that Debt Choice is doing nothing you can easily and freely (no money) do by yourself.

    Your creditors actually are not bad people, they need to get you to pay them back 'yes', but it is in thier best interest that it is a Win-Win situation or else it can easily become a Lose-Lose situation.

  • Ne
      25th of Jan, 2010
    -1 Votes

    Bravo --> Marty C. :)

    My Debt Choice seems to be the ethical choice, I will be calling them for assistance today. Thanks, this has been the best review that I have found researching companies. Seems like a good place to start...

  • Be
      16th of Mar, 2010
    -1 Votes

    Debt Choice is the worst company. I actually worked for them and they made us read a script to the people who call in because they didn't want us to accidentally mention the hidden agenda. It is misleading and we were encouraged to mislead people and make them think that we were actually doing them a huge favor... but it's not like that.
    Actually they don't do anything for you that you can't do for yourself and if you decide to go with debt settlement or consolidation, your first time fee goes strait to Debt Choice or you make a monthly payment to them... so not only are you broke but your not getting any help in the first month. If you really want to help yourself, you can contact your creditors yourself and try to settle the debt. Most are more than happy to oblige, especially on really old debts.
    If anyone comes on here and rebuttles this, they are probably the horrible management over at Debt Choice. The place was run like they thought they worked on Wall Street, but noone there was getting rich other than the owner and his lacking Vice President Steve Brennan.
    I ended up leaving because after working there for almost a year, they offered no time off without losing about 90% of your monthly income, there were no benefits and they were sexually harrassing me. Not the kind of people I wanted to be associated with. So I feel like it's my duty to express to people what they are getting into. I dont know, maybe it's karma but I never felt good about getting people into those programs. Thankfully, I've moved on. Take my advice or dont but be informed.

  • Be
      16th of Mar, 2010
    0 Votes

    Ps. Marty C... you clearly work over there, because you're writing some long drawn out rebuttle that makes little sense and is completely uninformed. If you disagree with the complaint why don't you just move on? You don't know enough about the programs offered to be on here arguing anything. Why even waste your time making that long long long point, unless it directly benefits you... like you work there!

  • Be
      8th of Jul, 2011
    0 Votes

    I worked there. They say they have lawyers working for you but they don't. They encourage employees to get you on the highest payment as that's the commission My Debt Choice gets. Employees work to earn a tier of the monthly payments they pull in. Anywhere from 5-18% of the total monthly payments go to employee and the REST goes to My Debt Choice, not the creditors. Getting out of debt is easier and more affordable if you contact your creditors and work something out. Be persistant. I felt wrong about what I was doing and quit after a few months. Most employees don't last more then a month. It's how they keep the full commission during the employees probation period. Very cold hearted management.

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