Economy Affects Everyone
So where do you go for help with your bills when the place
you were going to go to for help can’t help you because they
have filed for bankruptcy? This is exactly what happened to
Debt Relief USA.
The debt consolidation and assistance company has filed for
bankruptcy and has shut down their business. The company,
also known as No Debt USA was unable to help themselves it
would seem out of their own financial mess, never mind
helping anyone else.
Those people who have paid the company for debt
consolidation or relief services are now out of their money
as they have completely closed down. They filed Chapter 11
bankruptcy protection in June and are showing $5 million in
total liabilities and $4.65 million for assets.
Their web site simply says that they are recommending that
their current clients get an attorney, and that “one of the
unfortunate consequences is that you are left without the
service you have paid for.” Unfortunate does not really seem
to be the word when you are sitting holding the bills and
the company you paid to help you is out of business.
The debt consolidation company is also facing investigations
from the Federal Trade Commission and several states’
Attorney Generals are looking into them as well. However,
none of this gets their clients’ money back that they paid
into the business, nor does it take care of their bills.
Hopefully their attorneys will be able to help them, and
they will get some money out of the bankruptcy hearings.
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