Expert: Regan Shinski - 9/18/2009

Question
In 2004 I contracted with EDR for debit consolidation. Since that time, 1/2 of all funds paid to EDR were put into an acct in Rocky Mtn bank.
One of the CC companies sold my acct to collection firm in VA have since tracked me down. I am now a defendant in Court of Commons pleas and sched for trial 11/06/09 to pay the debt that EDR lawyers worked on for years.
I have no way to contact EDR and no way to get my $3,000.00 out of Rocky Mtn Bank (which is being reduced by $7.50 each month).

Answer
Hi Susan:

I'm not sure I fully understand your case.  Are you saying EDR has disappeared on you or gone out of business?  I think that is what you are saying.  I'm proceeding in this answer on the assumption that is the case.

Therefore, I'm assuming you have contacted Rocky Mountain Bank without success?  I would obviously start there.  There are other steps I would take - in no particular order:

* Contact your state's attorney general.  Try to get information and advice on EDR and how to get your funds from Rocky Mtn Bank.

*  Similarly, contact the better business bureau, state's consumer advocacy hotline, and similar agencies in the other states this case involves.

*  Banks are regulated by the Federal Reserve Board.  Your funds should also be protected by the FDIC.  I think a call to them may be on order.

*  An attorney may be needed at some point.  Free initial consultations may be available and yield information to help you proceed on your own.

*  At some point before the trial, seek a delay with the court.  These procedures vary by jurisdiction.  They also have to sue you in your state, so ask the court for the case to be dismissed if it is out of state.

*  Contact the higher ups at Rocky Mountain Bank.  Threaten legal action if your funds are not released.  Demand the service fees back.  Is the account in your name?  (Not fully understanding how this was set up.)  Start a paper trail by sending certified letters as needed in addition to documented phone calls.

I think you are a perfect candidate for credit repair.  Honestly, not trying to sell you services.  This is work you can do on your own but we are a credit repair company that has deleted literally hundreds and hundreds of accounts, collections and other bad information from consumer's credit reports.  Whether with us or on your own, you need to start this immediately.  This is because often the credit repair leads to elimination of the debt - it's difficult to explain in detail - but properly completed credit repair often catches collection agencies in violation of federal and state laws.  This violation is turned into a negotiated settlement to eliminate the debt and clean the credit report.  

Please call me if you have any further questions.  I know this is completed and stressful.  Regardless, I wish you luck and hope it works out :)

Regan
813-454-1459