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Can't find the Answer you were looking for?
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10250 page views
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Why Does LHDR Still Charge Advance Fees?
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11/4/2010 7:55 PM (PST)
The Federal Trade Commission banned the practice of charging advance fees on 10/27/2010 because it has been proved to be an abusive practice.
All legitimate debt settlement companies have made the switch to a performance based model, that only charges fees upon completion of a settlement, in the true spirit of the law..
My questions ..
Why does Legal Helpers Debt Resolution continue to charge advance fees and retainers after the law has gone into effect?
Why does LHDR think that this new law, that was designed to protect consumers, does not apply to them?
If LHDR truly cares about helping people with their debt, why can't they do the right thing and charge their clients as the law requires, when the debt is settled?
I have never been a client of LHDR so I cannot comment on any specific experience. I do however have enough knowledge of the debt settlement industry to be able to say that hiring ANY company that charges advance fees is playing Russian roulette with your financial future.
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11/5/2010 7:39 AM (PST)
Andy,
Your observations are on point - thanks for your participation in the TrustLink Community. Our CEO, Bill Mitchell, posted an article this past summer on the LABBB's Facebook page called DEBT SETTLEMENT INDUSTRY GETS ITS COMEUPPANCE FROM THE FTC. Here's the link:
http://www.facebook.com/notes.php?id=117568537756¬es_tab=app_2347471856#!/note.php?note_id=455365482194
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11/9/2010 7:24 AM (PST)
Andy F is correct. Any company in the debt settlement industry which charges fees up front (BEFORE providing their service) should be avoided. Attorneys are not to charge up front if they hold themselves out to do debt settlement. LHDR has simply found a loophole in the federal law to continue to prey on hurting consumers.
2 Fully compliant companies I know are Northeast Settlement Group in MA and Active Debt Solutions in FL.
NEVER pay up front for this service!
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12/18/2010 12:09 AM (PST)
They seem to believe that by selling their program over the phone and then pushing someone to a physical document signing is going to allow them the skirt the rules specifically enacted to prevent front loaded fees. I guess we can wait and see if the FTC agrees with Legal Helpers on that or not. It should be interesting.
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4/13/2011 1:26 AM (PST)
Wow, I received 5 dislikes for that nugget of painful truth. I guess we know at least 5 Legal Helpers sales affiliates have read this thread. :-) Lets see if we can get any more.
While you guys are here, why don't you explain to everyone reading this why your front loaded fee structure is beneficial for consumers and how a consumer could possibly benefit by paying legal helpers all of their fees upfront vs enrolling in a program that will not charge their fees until the settlements are achieved or a consumer negotiating directly with their creditors for that matter.
This could get fun if we can find a brave one :-)
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