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About Ontrack Financial Group llc
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With the credit market on a brink of collapse, the future of having good credit will be paramount. Loans will be near impossible to obtain with strict lending practices around the corner. Debt collectors and Law offices will use even stronger tactics to recover more of your hard earned money. Protecting you and your credit has to be a top priority. In 2000 Ontrack Financial Group llc founded the credit arbitration movement. More and more companies entered into the arena and new business models joined old ones. Only one company has the attitude and aptitude to truly assist our clients. Ontrack Financial Group llc is that company! With our proven credit arbitration solution, you can become Charged Off Debt free within three years or less. Our clients have eliminated their Charged Off Debts with our service and avoided communication with collection agencies and law offices in the process. Since the inception of Ontrack Financial Group™, we have continued assisting our nation-wide clientele with their burdensome unsecured debt and has enrolled thousands clients in its programs, managing millions of debt for its clients without one complaint. Ontrack Financial Group™ is a for-profit, private company and is not affiliated with the credit bureaus or the credit industry. As a result, our services are unbiased and independent, which allows us to better serve the consumer.

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Please read about us at Https://www.OntrackFinancialGroup.com/Q&A.html

 
   

You are here:  Experts > Business > Corporate Law > Collections Law > CREDIT CARD SETTLEMENT COMPANIES

Collections Law - CREDIT CARD SETTLEMENT COMPANIES


Expert: Ontrack Financial Group llc - 6/25/2009

Question
What should you do if you have invested over $3500 in a debt legal settlement company but then they declare bankruptcy?

Answer
Dear Erin,

Thank you for your question.  



As an unsecured creditor you're pretty much at a loss. You can file a claim with the bankruptcy court to recover a portion of the money paid.   



The article said:

“Debt Relief USA anticipates sending written instructions to its customers, most former customers, creditors and known potential creditors with instructions on any steps you need to take to protect your interests,” the company said on its Web site, www.drusabankruptcy.com… The bankruptcy filing won’t affect any debt settlements the company has reached with a client’s creditors, he said. On client deposits at Debt Relief, Armstrong said, “Our intention is to refund them as much as possible, but it’s subject to bankruptcy court approval.”

Michael Moore

Ontrack Financial Group llc  

888-686-6834 ext 8013  

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