Global Debt Management - Is it a good company to settle debts?
Mon, 01/19/2009 15:55
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.