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Global Debt Management - Is it a good company to settle debts?



mattnangie07

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Sub: Global Debt Management - Is it a good company to settle debts?
Fri, 01/04/2011 07:58

Their website says their office in Washington, D.C., but I talk to someone out of Irvine, California. We have been working with them for a couple of weeks and trying to decide if we want to use them to settle our tremendous debt. We had a business that failed, and are unable to pay our credit cards without some type of debt settlement by us or another company.
I am just nervous from all the stories I read that they are a scam.
How can I tell if they are legit, and what happens if they don't pay my creditors?
Many of our cards are close to taking legal action against us, and I am not sure what that would mean if we are in a debt settlement program.
Also, we have bank accounts with Wachovia, which has just been bought by Wells Fargo. We owe Wells Fargo money, and I am wondering if they would be able to seize our money from our Wachovia accounts? It makes me a little uneasy to leave it there, but I'm not sure how long the ''transition'' to one bank will take.
Any advice?
Thanks.



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Sub: #1 Hello, I usually do not like to post too many things online bFri, 04/01/2011 - 07:58



Hello,

I usually do not like to post too many things online but this I must say that I have to. I am currently a customer of Global Debt Management and I have to say do NOT sign up with them. Their program might work if you only have like one credit card with a relatively small amount owed but do not buy their word on what they will do for you. I just got served a summons from one of the banks that I owe to and now I have to go to court. I cannot believe this is happening to me. Right after I got the summons, I called a GDM rep to just see what I needed to and they told me not to worry that they are just trying to scare me and etc. She said to fax my summons in and that my rep would call me within 72 hours to make sure she gave me some information that might come in handy. Well this morning I got an email - not even a phone call with some very generic information.
I realize they cannot give me legal advice which is fine, but they do not want to get involved and definitely don't want their name out there as the people who are advising people how to get out of debt.

This company will not help you get out of debt, but they will help you ruin your credit score and probably make things worse. They charge a lot of money with a service fee for the first two years and then they start to put more money in your account so they can start to settle your debts.
What's the point? I am going to start dealing with my collections people directly and see what I can work out. The sooner you pay your debt off, the better and your credit will improve with time. I also think if you need any credit counseling or help, please go to a non-profit. I know there is still a fee for these companies to help you but that is the way to go - not a company like Global Debt Management!


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Sub: #2 Three words, scam, scam, scam. Global debt mgmnt sucks ass !! I Sat, 08/07/2010 - 17:23



Three words, scam, scam, scam. Global debt mgmnt sucks ass !! I signed up with them and they did nothing. I got sued by 2 credit card companies and had to hire an attorney to help. When I contacted them to get out of the program and get my money back all of a sudden when I call and put my client number or phone number in I get disconnected. American Express offered me 60 % off my outstanding balance with no help or contact from them. Don't give them a dime. I am now fighting to get my money back. And Noteworl bank sucks, they are trying to charge me over $8,000.00 in fees that they won't give back. They are a scam like all others. Get an attorney, its better


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Sub: #3 Found this out thought I would post it here. Per the BBB any debFri, 05/14/2010 - 14:36



Found this out thought I would post it here. Per the BBB any debt settlement company has a poor rating just because of the type of business they are. They all start out with an F rating


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Sub: #4 so far they have been great with me,it has been a year,i just seFri, 04/09/2010 - 11:59



so far they have been great with me,it has been a year,i just settled 2 accounts, there are 6 more to settle. They keep up with documentation and monthly checks. So far I am satisfied. Good Luck


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Sub: #5 Correction, the BBB does not sell ratings, you have to pay a memTue, 03/30/2010 - 14:30



Correction, the BBB does not sell ratings, you have to pay a membership to keep your account status active, i pay $300 a year and if someone complains it's on my record.


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Sub: #6 I think it is, they have taken care of me very well. I fax everyThu, 03/25/2010 - 00:19



I think it is, they have taken care of me very well. I fax everything to them, and they send an e-mail to me letting me know they got my fax. They type up the cease and desist letters and send them by e-mail and I print them out and mail them off. I have been with them for 8 months and I have not gotten one call from creditors. They not only help you settle your current debts, but they want to make sure that you learn how not to get into debt that you cant handle. They are very personable and treat you with respect. I would recommend them to anyone that is looking for help in settling their debts.


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Sub: #7 I have been with Global Debt Management for almost 8 months. I rThu, 03/25/2010 - 00:12



I have been with Global Debt Management for almost 8 months. I really like their integrity and the way they call you every month, and handle all your faxes and letters for you. Yes their fee is a little high, but I look at the long run of things, my debt will be paid off in 3 years and I will be debt free. Global Debt Management has been there for all my questions and I do believe that they are there for their clients. Even after you settle all your debts, they want you to learn how to save money and not get into debt again. They dont charge any commission, and you do pay their fees up front in payments every month. But after that all your payment goes towards your debts. They have done a great job for me and I would recommend them to anyone. Debt Cure is the one I have heard alot of bad things about, due to one of my family members using them. She is really upset with them. You pay a retainer fee then 25% of any monies that they save you on a debt. They have done nothing for her, like Global Debt Management has for me!!!!


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Sub: #8 I would call 866-833-6398 they are by far the best. They don't cFri, 03/19/2010 - 08:02



I would call 866-833-6398 they are by far the best. They don't charge you a percentage of your debt they just carge you a small fee and they stop all collection activity within a week.


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Sub: #9 BobFri, 03/19/2010 - 07:57



Has anyone completed the process with Global Debt Management? Please let me know.


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Sub: #10 ProprietorFri, 03/05/2010 - 09:37



I am in the Global Debt Management program (2 months now) and would like to hear from someone who has gone through their program successfully. I keep reading that they are not to be trusted and what. Please let me know if they are a legitimate debt settlement company.


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