I was enrolled with Preferred Financial Services (PFS) to help get a handle on my debt. I completed the program over 2 years ago. I received a letter from PFS that I completed the program and that all my debts were settled. Here it is, 2 1/2 yrs later and I've received a letter from an attorney that a motion to attach my wages has been filed in court on behalf of Citibank. I researched this and from what I found out, the settled amount of $683.00 was never paid to them. Now Citibank wants $1000.00 from me. PFS also charged me $75.00 as a settlement fee on this account. I've sent the letter to PFS, I've called PFS, I've emailed PFS and no one will get back to me.
Consumer Complaints & Reviews
I had perfect credit. In 2008, the banking industry collapsed in NY. In 2009 I realized I had gotten over my head in debt. I contacted Preferred Financial Services. They told me they could help negotiate and consolidate my debt, and since I did not have one late payment in my credit history it would not affect my credit. I paid them about $225 a month. A year later, I was sued by two creditors and had only paid off one of them.
My credit has been destroyed. My debt has increased by several thousand dollars due to late fees. I contacted the two suing me and started paying them monthly. I had to stop paying them after they wiped me out. Now I'm waiting to be sued again because I cannot afford to pay the amounts they are demanding from me.
On around 3/1/2007, I signed on with this company to cut and eliminate my consumer credit lines. A little time passed after all the collectors stopped harassing me with calls but it was not long after that "PFS" would call occasionally asking if I had additional funds available. Unfortunately, I only had the monthly payment of $257.86 we agreed upon paying my debt load of roughly 15k in 4 years.
Of course, they said that could reduce the total amount in half but that never happened. The ending of business relations with PFS came a little after I was served legal documents at my place of employment on behalf of a creditor seeking payment of almost double what I originally owed! Having no financial recourse, I was forced into chapter 7 bankruptcy. As a result of this company not performing their agreed upon duties to me the consumer, I have endured tremendous financial hardship through out this period of time associated with preferred financial services, taking my hard earned money every month and not providing the services promised. I would like for this company to be investigated. If possible, I would like civil legal action to be taken against this company.
I have not contacted the company yet as I wanted to talk to someone about my situation. Preferred Financial Services is a Debt Settlement company. They are charging me heffty fees up front and none of the money is going toward my credit card debt. I already issue a stop payment with my bank to stop future withdrawls. I only made 5 payments of 627.02 before I realize that I'm being scammed. Is there anyway I can get my money back from this company?
