How Did My Money Disappear?
Debt consolidators will work with your creditors in order to get an affordable monthly payment for you.
You will then make a single payment to the debt consolidator.
They will create an account for which these payments will be deposited.
Your creditor's payments and their fee will be withdrawn from these accounts easily.
All you will have to do is make the single monthly payment.
Many people are desperate to rid themselves of their accumulated debt.
This is why they believe, whole-heartedly, that their deposits that are being made to a 3rd party will be safe under the FDIC insurance.
Your debt consolidators will inform you of all this when you are looking to possibly sign-on with them.
The only problem is that they will leave out the part that should the bank fail you will not actually be insured.
Debt consolidation companies do not generally have a very good reputation, and for good reason.
Many of these so-called debt consolidation companies will seem to want to help you out and will set you up with this 3rd party account to make your deposits.
The only problem is that most people run into issues with the debt consolidators not doing what they promised, them closing up shop and simply filing for bankruptcy.
This leaves people wondering, "How did my money disappear?" It can be devastating and rather frustrating searching for a way to find your money.
Most people are only able to find a way after employing the help of legal representation.
It is important to research your options first, but the only people who have found success have had to do it legally.
Trust company is a rather ironic name for these third party account guards.
They will do whatever is in the best interest for them.
When you discover that your money is not being distributed properly in-order to cover you debt you will most likely be rejected when you request to withdraw you funds from the trust company.
They will claim that they are in charge of protecting both you and the debt consolidator and not just one of you as their reasoning.
Debt consolidation companies and trust companies that get involved with them know exactly what they are doing when they create these accounts.
They know that it will be easy to move on or avoid paying back these funds, or that they will be able to justify how much is owed to them in fees.
They also know that it is unlikely that the customer will be able to afford the court costs associated with being able to sue their company in order to acquire their lost funds.
This really makes almost the perfect scam.
How can this nightmare be avoided? The answer is simple.
Don't get involved with a debt settlement company that requires you to send them money to deposit in a "trust" account!
You will then make a single payment to the debt consolidator.
They will create an account for which these payments will be deposited.
Your creditor's payments and their fee will be withdrawn from these accounts easily.
All you will have to do is make the single monthly payment.
Many people are desperate to rid themselves of their accumulated debt.
This is why they believe, whole-heartedly, that their deposits that are being made to a 3rd party will be safe under the FDIC insurance.
Your debt consolidators will inform you of all this when you are looking to possibly sign-on with them.
The only problem is that they will leave out the part that should the bank fail you will not actually be insured.
Debt consolidation companies do not generally have a very good reputation, and for good reason.
Many of these so-called debt consolidation companies will seem to want to help you out and will set you up with this 3rd party account to make your deposits.
The only problem is that most people run into issues with the debt consolidators not doing what they promised, them closing up shop and simply filing for bankruptcy.
This leaves people wondering, "How did my money disappear?" It can be devastating and rather frustrating searching for a way to find your money.
Most people are only able to find a way after employing the help of legal representation.
It is important to research your options first, but the only people who have found success have had to do it legally.
Trust company is a rather ironic name for these third party account guards.
They will do whatever is in the best interest for them.
When you discover that your money is not being distributed properly in-order to cover you debt you will most likely be rejected when you request to withdraw you funds from the trust company.
They will claim that they are in charge of protecting both you and the debt consolidator and not just one of you as their reasoning.
Debt consolidation companies and trust companies that get involved with them know exactly what they are doing when they create these accounts.
They know that it will be easy to move on or avoid paying back these funds, or that they will be able to justify how much is owed to them in fees.
They also know that it is unlikely that the customer will be able to afford the court costs associated with being able to sue their company in order to acquire their lost funds.
This really makes almost the perfect scam.
How can this nightmare be avoided? The answer is simple.
Don't get involved with a debt settlement company that requires you to send them money to deposit in a "trust" account!
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