Legal Question in Consumer Law in Texas
Debt Consolidation Companies
A debt consolidation company I had contracted with in September of 2003 sent a letter to me on January 25th stating that they were no longer operational and they were voiding my contract (it was set to complete in October of this year, 2006). I have been sending a payment to them every month since 9/03 and I know they did not use it all for their fee or any settlements. What course of action is available to me to get the money they still have returned to me?
2 Answers from Attorneys
Re: Debt Consolidation Companies
This is assuming you are from the State of Massachusetts and they reached into the state to solicit your services, I would be immediately calling and filing a complaint with the attorney general/consumer regulator here and in Texas.
(Example: There was an individual that had been given an unconscionable contract regarding debt consolidation and the individual filed a complaint with the attorney general in Maine and it was forwarded to the Consumer Regulator in Maine. The Maine regulator forwarded the complaint to the company's attorney and that company was in NJ. The conclusion, the individual received his down payment back and that was the end of it. However, for the most part, it does not happen so easily.)
Hopefully, this company has not claimed bankruptcy. I suggest you file a complaint asap. You can file a complaint online, but you will have to send all your documents proving your complaint at some point. I hope this is a helpful start. Good Luck. Feel free to email me if you have any further questions at [email protected] Sincerely, Maria Murber
Re: Debt Consolidation Companies
Ms. Murber gives you very good advice. Last year I had two clients in the same predicament. Both of the companies were shut down. The only persons who received any refunds were the ones who got there first.
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