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Thursday, July 9, 2009

How Bad Is The Economy When a Debt Consolidation Co Files Bankruptcy?

"One of the unfortunate consequences is that you are left without the service you have paid for," its Web site no reads, directing current clients to reach out to their own attorneys.

How can you help others if you can't help yourself? Debt Relief USA, also known as No Debt USA, couldn't even help itself any longer. Last month the debt consolidation company filled for Chapter 11 bankruptcy protection. The company has not only filed for Chapter 11, it is completely shut down, leaving customer without help, while it files for protection with $5 million in total liabilities and $4.65 million in assets.

The company may be facing investigations from the Federal trade Commission and by the Attorneys General of several states according to their Website.

Isn't crazy when those who are there to help with your debt go out of business?






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