Pacific Debt IncConsumerAffairs Accredited Brand
Pacific Debt was founded in order to address the growing tide of consumer debt in America. Today, Pacific Debt is a leader in the debt settlement field. The company settles millions of dollars in consumer debt each month, while maintaining the original vision of a consumer friendly experience. Above all, the biggest difference between Pacific Debt and many of its competitors, is the personal level of service the consumer receives throughout the process. From enrollment to client care and account management, Pacific Debt cares about their customers and their satisfaction.
Pacific Debt can service the following states: Alabama, Alaska, Arizona, Arkansas, California, District of Columbia, Florida, Hawaii, Idaho, Indiana, Iowa, Maryland, Massachusetts, Michigan, Minnesota, Montana, Nebraska, New Mexico, New York, North Carolina, Oklahoma, Pennsylvania, South Dakota, Texas, Utah and Virginia.
My wife and I had credit card debt, and we did a lot of research on the debt relief industry. We initially reached out to National Debt Relief, but Pacific Debt’s customer ratings were higher than theirs. There are some big players out there that advertise on the radio excessively, but Pacific Debt’s rates are lower than some of the other brands. There was a $2,000 disparity in the cost of the program between National Debt Relief and Pacific Debt, which is why we went with the latter. The Pacific Debt team was really encouraging in the beginning. It erased any embarrassment associated with what we were doing, and they helped us talk through that. They also explained the process and how they settle the debt and how they are compensated, so I got there pretty clear. After that initial interaction, we didn't need as much contact with them, but whenever there was a settlement, they were very quick to contact us.
Our account manager was changed twice because one gal was no longer with the company, but we were very comfortable with each of them. The payment plan was reasonable, and it was their desire to keep it low. For example, we got a dollar amount that we like, but sometimes settlements tend to be made quicker if we were to increase that. I let the second account manager know that it was okay with my wife and me that they contact us to increase the monthly amount if it meant that we could settle quicker. However, we didn't get a phone call regarding that, and we contacted them because the window they gave us was well beyond six months for all accounts to be settled.
Pacific Debt has been very good at what they do. It's an intimidating process to work with the creditors, and it was nice to have someone as an in between to help us navigate it. I would recommend to my friends to go with Pacific Debt for their debt relief, not only because of the cost associated with the service but also because they are professional and can handle the amount of debt that one might have even though they may not be advertising on the radio.
I had a bunch of credit card debts, so I consolidated them and then put the payment plan together with Pacific Debt. They had a really good rating online as far as their reviews, and then I talked to a couple of people down there and they seemed to be good and knowledgeable. I went with Pacific Debt because I handle it myself online and I could do most of it over the phone, which worked out pretty well for me. They're in San Diego, so it's the same time zone, and I enrolled and we started rolling it from there. My agent, Josh, is really nice, and he knows a lot about what I needed and how the system works. He did really well, and I was happy with him. We spoke on the phone once a month and went over everything, and then my statement came up online and I could look on it on my phone and talk to them. They might have moved because they changed their address.
I've paid off several of the cards, and I still have one that’s still outstanding. We're working on that right now, and it should be over with probably this year. When you do debt consolidation, your credit rating always gets hurt, but I knew that going in. The program has run smoothly, and hopefully, it will go all the way until the end and have no problems. Pacific Debt did a very good job, and they kept my statements on track and up to date. The payments I make and the cost of their service were reasonable. I would recommend them if anybody asks, and I would tell my friends to go ahead and do it.
I liked the credentials of Pacific Debt and the process was not that difficult. I had no bill collectors to begin with but my issue was nobody would work with me. I was not late with my payments so it was hard for me to get all the bill collectors calling me because I never had that happen before. Other than that, their programs have been fine. I'm halfway through completing the program with them and they seem to be doing their job. They call me when there’s a problem and inform me if I need to be informed. The cost is well worth it. Those at Pacific Debt are very thorough and helpful. I did what they asked me to do and I followed through.
We started out okay but soon determined filing bankruptcy was in our best interest. At first our customer service rep was great but apparently she resigned. The next was very good, Nicole **. I would say for those with a LOT of debt this is not a good program.
Service was excellent. My Account Manager was most helpful, informed, non-judgmental. Your staff prior to signing up were all completely profession, informed and made access to your program easy. Luis ** was my manager. I would have made a recommend on another site provided, however I could not navigate. This was a success for me. Thank You.
I have been with Pacific Debt for about 2 1/2 years, as they are settling a number of accounts for me and have reached settlements with 5-6 of those accounts with about 4 being paid off. I have been very pleased with their service and would not hesitate to ever use them again.
Two credit cards got out of hand and we're on a fixed income. The situation got more than what we could handle. I did some research on the internet and found out which companies are considered good, and we also wanted to see who'd be the ones that fit our needs. Pacific Debt provided us a program to clear up the debts. They're paying off one at a time as soon as the money comes in. We pay two of the cards monthly, and then they take care of pushing it. We had just got a judgment filed on one of the card companies and now they think they're going to get money. But all we are is Social Security, so we have Nicole, Pacific Debt account manager. The problem is that same attorney's been working on one of the credit cards, and we cleared it up. But he would not accept waiting for the other one. Nicole's been in contact with the office, but as I'm concerned, the attorney is a jerk.
Nicole has all that information in there because as soon as we get something, we send it to her. She's the one that's taking care of it. Nicole is very honest about everything and she is straightforward. We send something, she always replies, even if it's a phone call. I'd encourage friends who might ask about Pacific Debt because the company did a good job for us. Pacific Debt has done everything that I want them to do, and they've been right there to answer everything.
It has been great working with Pacific Debt. The peace of mind I have now is all thanks to them. They have worked tirelessly to get me out my debt and I am grateful. Everyone there has been a real treat and I can't wait until I am done and completely debt free again.
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Pacific Debt has been handling my debt payback to multiple credit companies for almost 2 years now. I appreciate the professional and down to earth approach when dealing with me and my personal debts. Tina and her team really went to bat for me when 2 companies filed to sue me for the balance I owed. Pacific Debt arranged a settlement for payback, and stopped the lawsuit! And over the course of time with Pacific Debt, my credit rating has improved dramatically! Thank You Tina and everyone at Pacific Debt.
Would not use this company in future. The account manager assigned to my account did not return my phone calls. I would be the one to have to keep calling. They also did not settle my accounts in a timely manner, I ended up settling two accounts on my own.
Was very pleased at first with Anisa, who is no longer there. She encouraged me and kept me from crying about my situation. She worked quickly and out of 5 creditors have been paid in full and I just filed my taxes and all 3 had submitted 1099-C forms which I dealt with. Ellen my new rep is very nice but doesn't seem as aggressive as Anisa, and doesn't stay in touch and seem to care about me or my situation. I feel like a number to her and not sure my best interests are being cared for - She is nice but I have to beg for info. I can't find my balances on each account at Xroads, and so far have not gotten the help to find them.
Overall, I am glad I chose Pacific Debt to help me, but would like to get the one last creditor on board, but I worry about Ellen getting the best deal for me. I don't want to rate you as my being dissatisfied - I think it is just the differences in the two young ladies I have had dealings with. I would love to get this done as soon as possible but because f the 1099-C maybe we should not pay off but one creditor in a calendar year.
As of today, Pacific Debt has settled several of my accounts. I am currently waiting for them to settle the final 3 and then I will be finish with the program. Nicole and Quiana have been very helpful and have kept me up to date on my accounts. I would recommend Pacific Debt to others but advise them to be prepared for their credit score to drop but it will go back up slowly.
ALL IS FINE. To me I need a little more explanation. Your settlement will done in 100 years or 10 months. Looking for that horizon, even though they do send settlement info... Where's the light at the end of the tunnel.
I have been getting emails and letters on the mail from debt relief companies saying that they can take my debt and make it half what it currently is so I reached out and checked a couple and then I chose Pacific Debt. They're working with my creditors to come to an agreement, like a debt reduction. Then I pay them a monthly fee and they pay the creditors from that. However I'm not happy with something they did. When I went to them my credit was in a really good shape. But one thing they fail to tell me is that in order to move forward with negotiating with the creditors they have to let my old accounts go delinquent.
I found that out when I saw that my credit score decreased in Experian quite a bit. And that was due to the fact that Pacific Debt quit paying my bills, which I understand it had to be done. But they never told me that and had I known that I would have never gone with the program. After it happened I reached out to the guy who was assigned to my account and told him. He said that they had to do that in order to negotiate. At that point the damage was done. I wish they could have been a little forthright with that.
As for the program I'm at the midway point. I'm seeing some accounts being handled and settled in full. My personal account manager, Josh, has been very responsive. We don't contact each other that often but whenever I send something to him he responds whether it's email or phone call. He's been good and I'm very comfortable working with him.
For my payment plan they work with the creditors. They contact me to see if I agree with it or not and then they do a recording session if I agree with it. It was based on all my debt and the percentage of what they thought they would need in order to look at what they thought they could work it down to. Since working with Pacific I'm only writing one check and it's a direct deposit versus going online and making all the bills. The program works but you have to make sure it's really what you want to pay all your creditors.
Pacific Debt is one of the top rated companies that provides debt settlement. I'm now halfway through their program which is phenomenal. The cost is great and the account manager, Carly, is fabulous. She always sends me emails me and always checks in. If I can't make a payment, she does what she can. I ask her to hold it even if it's like a week before 'cause it's supposed to be a two week period. She definitely pushes everything through for me, so she's great.
In addition, their people are great and they're looking out to help you and settle everything for you instead of shamming you over and not getting in contact with you like some creditors and gnarly settlement people. On the other hand, the process is a little scary especially with my credit and stuff being ruined, but over the three years’ time, it's pretty much worth it compared to being in debt for about 15 years of my life. I'd rather take bad credit and build it back up than be in forever debt. I will recommend Pacific Debt.
If you need to get into a type of program to consolidate your debt, I would recommend Pacific Debt. Although there were good and bad things about getting into a program, I was happy with the way they handled my situation. At the start, I was comfortable with the way they presented their program and how they could help with my debt issues. They discussed with me the payment options and asked if I was comfortable with the numbers that they came up with, which I had to pay and if anything was to change in my salary.
In addition, I liked that they handled all the transactions between the debts that I have and they also communicated and explained what they were going to do, and the expectations of the debt settlement program. They also kept in contact with me as far as what was going on with the settlement. So far, I'm almost halfway done. The positive part about getting into their program was I could eliminate all these debts further down the road. The negative side was that my credit rating went bad. That was to be expected though. Overall, Pacific Debt has a smooth way of trying to pay off and consolidate my debt.
My parents passed away and I got stuck with everything. I was using my credit card to take care of their stuff and my stuff as well, and my bills had built up from there. I looked at the internet for the ratings. Pacific Debt had really good ratings so I went to check it out. So far, they are doing a great job. I have one bill instead of four. They have a special account for me where every month, they take out something for the bills and they send an email to tell what was paid. My personal account manager is doing a great job as well. Her name is Ellen and once in a while, I call to ask what is going on. She keeps me informed all the time.
Eventually, the costs balance themselves out and right now, Pacific Debt had settled two of my bills. They're on the third, and then they’ll do the last one. Overall, I have a very good experience with them. And even though my credit score bites right now, I’m not worried about that. I've got what I got. I would tell friends to call Pacific Debt so they can work with them.
The debt relief program I have with Pacific Debt has been very beneficial and worth it for me. I have about a year left. I provided them the financial statements that I had concerns with and they took over on contacting those individuals and setting up a basic payment program. An account was set up and a monthly deduction gets sent to that. They handled matters through the debtors that way and the program helped me out tremendously. Nicole, my personal account manager, was very professional and I would highly recommend anyone to her. I was impressed with the way she conducted herself and provided the information on the overall process and how things would be executed. I'm very comfortable working with her. I've also been satisfied with the services and guidance that they provided for me. If anyone is in the same situation I was in, Pacific Debt would be a good point of contact.
I was in an overwhelming debt and I saw that Pacific Debt was an option of reducing that debt and giving me a one monthly payment. They took care of everything and reduced my debt by negotiating with my creditors and then they came up with one easy payment for me to make per month. When I'll be late on my payment, I call and let their personal account manager know that I can't pay it on the date that I’m supposed to. Her name is Nicole and I tell her that I can pay it three days later.
Then they come up with a way for me to either pay my creditors directly a little later since they get all the funds together and then pay it out. Sometimes, she arranges for me to pay my creditors directly which is super helpful. They charge a couple of percent to take care of stuff for me. And while I could have negotiated less if I did it on my own, I didn’t have to go through all the hassle of doing that. I have recommended Pacific Debt to other people. A guy I work with is in the same boat as I was and he was thinking about bankruptcy. I told him to call Pacific Debt and see if they can help him out.
Everything is going smoothly so far. We're a year and a half into the program and have already closed some accounts. We were able to set up an escrow account to make the payments whenever negotiations work. In addition, my account manager was very customer-friendly. She listens patiently, gets all of our questions answered, and returns calls on time. We're very happy with her. Working with Pacific Debt has taken off some stress, knowing that we were going to be out of the situation soon.
I had an account manager for a long time that kept me informed. Recently my manager has been changed and I am not impressed with her. She does not keep me informed and when she says she will let me know something in a day or two, I have to contact her in 2 weeks because I still have not heard from her. I would like a new account manager please.
I looked up debt companies for Missouri and Pacific Debt came up as the top one. I have been with them for almost three years and so far, everything has been alright. They have performed the way they told me they were going to. During the debt settlement process, they told me how much my total debt would be after I told them what I owed. Although it's costing me a little trouble, they kept telling me how much I had and what we were trying to pay off for me not to miss any payments. They told me when they computed it out that it was going to take about 33 to 36 months. They were able to clear my debts and I’m on my last one now.
Although my personal account manager changed twice, they have all been good. They answered my questions, called me and kept me up to date with settlements. The only thing I didn’t like was the bank that they use as far as their statements that come out on the internet. I couldn’t understand them. So when they come out, I call Pacific for them to explain and it always comes clear. Overall, Pacific Debt has done a good job and if I want to talk to somebody, all I have to do is call, tell them and they talk to me about the account or whatever I'm asking. There was nothing that I called them and asked for that I didn’t get.
I've been very comfortable working with Pacific Debt. It made my life less stressful, too. I'm on their debt settlement program and it makes me able to pay all my debt up. We figured out a payment plan and the cost is good. It fell down to one payment instead of three different ones. Their representative walked me through the process and I found out what I wanted to do and what I needed to be done. And they did most of it for me. All my questions were answered, and I'm impressed with my account manager's communication.
Pacific Debt advertises as the best in the business. I had gotten cheaper rates from other debt consolidation companies, but I thought I would go with the top rated one which is Pacific Debt to help me with bad credit. If the best costs a little bit more, then I’ll pay a little bit more. They're drawing $255 out of my account every month and they keep an account at their place. When they make a settlement with somebody, they have to call me and let me know.
Their program has been a little iffy because I keep getting things where we could have settled for a lot less money. Now, it’s going to collection agencies which means that they get less of a commission and I don’t quite understand why they follow that policy. I’m also a little concerned because I keep on getting notices that the amount that’s payable now keeps going up because they’re not responding to the debts that I have and I’ve sent them every one of them. I was told by Pacific Debt not to get in touch with these people and I did.
Another thing that bothers me is that every two months, I get a new officer in charge of my account. It’s weird that they keep shifting people around. The first officer who I told I wanted to pay one of the debts off and I would be willing to pay cash to help them out with it, never got back to me and it went to collection. I’m confused not knowing what the specifics are of the arrangements. I’ve called them three times today and I have gotten no response. When I call up, at least 80% is always voice mail. I get people getting back to me but it’s not timely.
They made an agreement specifically with Discover card which is probably the most aggressive in pursuing payment from me, the original debtor. When I went to the bank yesterday, it was as if they had no commitment at all to Discover, plus Discover had me as a big credit risk. Once the operations are settled, the debt is enforced three months ago, I should not be listed anymore as a credit risk for my bank. So, they need to address that issue. When something has started with a payment schedule with a specific debt collection agency, that should automatically go to my bank where they are taking the money from my account. I should be eliminated from outstanding debts and it was no longer my debt. It’s Pacific’s debt.
The only thing I’m concerned about is that I made a contract agreement with them to do $9,000 over the next three years which is fine with me. I’m concerned because they are going to be paying more on these debts, but they’re getting less of a commission. Does that mean that my original contract is not valid and I’m going to end up paying more money because they’re not taking care of business in a prompt and fashionable manner? I’m a little disappointed.
I just sent them a thing from Nationwide Credit, so I was wondering why I’m still getting these things. Also, I went to my bank yesterday and they have Discovery and three other credit cards that are unresolved. So, my credit regarding any kind of loans or anything I want to get is going to be biased because the bank has not been told that these things are being taken care of by Pacific Debt. So, I don’t know what they’re getting their credit rating from, but the fact that we are consolidating the debts and making payments are the things that should be addressed. Now, I’m halfway through my debt settlement and through the three year period. I stopped getting phone calls, but I’m still having issues and I’m still getting collection agencies bothering me with the mail.
One of them was nice enough to tell me that they already had started a settlement with Pacific Debt after I emailed them. But the collection agencies are rogues and will continue to do whatever they want to do once they get the approval to go into debt collection. They make demands and they threaten me with lawyers. Once a collection agency is notified that this arrangement’s being made through debt consolidation company, that they should deal with them and not with me. People should be informed as to the confusion and lack of stability in Pacific.
Edward, thank you for your detailed feedback and taking the time to complete a review. I've forwarded your review to our department manager and one of our team members will be reaching out to you asap to address your concerns.
I had a lot of credit card bills and I wanted to consolidate them. I then went to the Better Business Bureau website and did research. I looked up Pacific Debt and they had a lot of good reviews. I then had them pay off my credit card. The first thing they did, I assigned them how much money I can afford to pay them a month. They set up $324 a month, which they'll deduct from my bank account every 28th. Every time I got a bill, I had to first tell them all of the credit cards that I have of the company with the account number. Then, I email them all statements. Once they go through the settlement and they start sending the bill, they will call me to say if it’s okay to pay that amount. So if they send one for $800 and they settle for $40 a month for 12 months, they will ask me am I okay with that. At first I was okay with their service because they were good. I saw that they were paying the creditors.
But as of late, I feel like they don’t care about me, the customer, and they just want their money. I don’t feel they are 100% telling me what’s going on. I had a male rep at first but he left. I then had a lady assigned to me. She was okay and understanding, but as of December, I'm finding a little attitude in her. We agreed to pay a credit card, but they had to get a fee of each settlement which I thought would be just one big fee at one time and that’s it.
I got a letter from a creditor and she thought it wasn’t a judgment as of yet. But it was a threatening letter. I sent it to her and she didn't respond. I had to call out to her for her to reach out to the new creditor to see what could be done. I asked what we could do and she said my funds were tied up. How was that possible if we just paid off the credit cards in January? She said it was because they had to take out fees because my funds were tied on those two payments.
I asked her about the fee and how much they were getting paid and she told me, “You don’t look at your account?” I told her I didn't but once I looked into that, I saw a lot of stuff I didn’t like. When we do pay somebody, there's a $10 maintenance fee every month for that account. I’m currently paying Capital One which is $100 a month. Then, every time she makes the payment to the Capital One people, they do it in two days and they charge me another $15. And after their fees and the Capital One payment, they didn’t have enough $44 to pay these other people and said if I could come up with more money to pay that.
I agreed to $44 for 12 months but the thing is I don't know how much of that $44 is payment for their services. Her fee for Pacific Debt is not even listed and I never called the bank because I was frustrated. I will have to pay not as the fees that I send them every month. I will have some in my bank, pay $44 and get directly to the creditors. I was very upset with her and I told her that I don't like how that goes. I haven’t called them back. They're not for me anymore. I'm disenrolling by May. I worked my own payment out with the creditor for the last three months because as of December, I was very upset how she treated me. Now they want to go look at the account. She noticed that a customer had said something about dis-enrolling.
We’re on social security and I have some medical problems, too, and it got too much. I researched different debt companies and sought Pacific Debt’s services. Their representative has always been great, and I’m very pleased with her communication. She still emails me occasionally and lets me know that she’s there if I have any questions. I also still send her copies of my bills. We’ve eliminated three debts and they would like to beat them quicker but I couldn’t contribute anymore quicker.
I have one American Express bill left which the account managers focused on because it was the stickiest. And as far as the time element and when people are paid off and the agreement they made with American Express, it was a tremendous relief. They’ve done everything they can in a timely manner. There’s a cost of communication and contact and merits a very personal concern and I felt very as guilty as I felt. But they made me feel relaxed about the whole thing. They were very nice. I would recommend them highly. It’s a very difficult step to take, but once your debt is behind you, the relief is incredible.
We were needing some help and when we talked to Pacific Debt's people, they sounded like a good company. We signed up for their debt settlement program and we’re still going through it. It’s a really good program and it’s helping us pay off some of our debts. We keep in contact with Pacific Debt's reps and they let us know what’s going on. And if we have any questions, we contact them as well. I’m happy with Pacific Debt's service. They worked with us on our payment and we weren’t left with nothing. I would tell others to go with Pacific Debt if they needed help.
I was in the hospital and I was out of commission for almost three years because of a brain injury, and I got behind financially. I was with a different company before that didn’t do a thing in four months, so I got all the money back. I was searching and came across Pacific Debt. The first guy that handled my case didn't keep me in the loop, but the new lady that handled it did a good job. She was nice, and she texted me once a month and asked if I had any questions. Pacific Debt charged too much, but the cost was okay.
I had medical concerns and I went with Pacific Debt because they have the best reputation. I'm in the hospital right now, and I'm probably a year and a half in into the four-year program. My account manager has been really nice and upfront, and she takes care of things and makes good deals. She took over when the one I had before left. The account managers are very professional and they work hard as far as settlements. I make auto-draft payments every month. Pacific Debt has been really good, and their program helps me clear everything up.
We had some credit card debt that was more than what we could handle and Pacific Debt Inc made it sound like they could help us with it. It has not gone well. We got enrolled in a program and seemed that it was going well. They negotiated with Citibank for us and it seemed like a decent settlement. Not wonderful but we were willing to go with it for a fairly large amount. We'd been going along and making payments for more than 12 months. There had been a couple of months where we asked them to dip our payment for a month when we had other financial things come up that we needed to handle, but for the most part, we never missed a payment or nor where we're late with the payments.
Last October, I noticed nobody ever contacted me about this. I contacted PDI about it and I noticed that our special account where the money had been coming out every month suddenly, three months’ worth of money went back into it. I called and I said, “What's going on?” And they said, “Oh, Citi quit drawing payment from us.” I was like, “That doesn’t sound right. We'd been going along really good.” They're like, “Oh, well, we just need to renegotiate with Citi." Citi was no longer dealing with them and I had to go through a third party collection company Citi was using. I have a written contract from Citi that PDI negotiated for us and the payment would be made every month. Then, after a certain amount of time, everything would be taken care of. I was like, “That’s a violation of their contract. How can they do that?”
My husband and I contacted Citi. They said, “That doesn’t sound right. We would never quit drawing a payment on an agreement that’s standing. Even if we quit dealing with those people, we would do the actual contract.” I ended up going through another collection company that Citi uses. Now, they want a whole amount again. The payments that we made to them went to them except for the $7,000 that we paid PDI to negotiate this. Then, PDI called us and said, “Oh, well, just sign another power of attorney over to our attorney and we'll renegotiate it and I think we can get you the same deal.” I said, “Why in the world would we do that? We will never deal with you guys again. If it can happen once, it can happen again.”
Right now, we're not making payments to Citi. We have that special account with money sitting in it that we're going to want to use to negotiate because we kept making payments there for a while thinking this would work itself out but we left all that money in the account. There are a few thousand sitting in that account for us to negotiate with Citi on our own. Last month, we negotiated the Chase account that we were supposed to be doing with PDI and we got a much better deal than what they said they can get us.
We won't deal with PDI anymore. I sent them a letter telling them we want our money back that they charged us. If I didn’t hear from them within a given amount of time, we would get our local attorney involved because they won't respond. None of this will they put in writing. I had to really force PDI to acknowledge some of these in writing and they still have not resolved it. They still try every month to draw out of our personal account.
We're out $7,000 that unless we sue PDI for it. We will contact the Better Business Bureau, we will contact any professional organization that they're part of and file complaints everywhere we can because I don’t want anybody else to get into that thinking that they're going to help them when all they did was take our money. We're back in the same boat we were in there years ago. They're just a bunch of crooks. I can't ever deal with them again and I would highly advise anybody else not to deal with them.
I have had minimal contact with my account rep (which by the way has changed several times over the last year and a half) and often times it is because she made some sort of financial error and wants more money to fix it (miscalculated a settlement offer). That said, the customer service is not the worst. In fact, I feel like they have quite the sales team because man can they pitch their service. Here is my warning about my experience: If you use this company, make sure you fully understand how they operate. Do not let them summarize the contract over the phone, get off the phone and read it word for word.
Their services do nothing that you can't do yourself. They will not settle your debts and have you pay them back. They set up an escrow account and will settle debts as your funds become available (after you start accumulating money in the account) and they will only settle with what you have available. So if you put in the minimum amount, they will only work with one or two of your creditors. They charge MASSIVE fees. I am charged almost 1/3 in fees of what I am putting in to the account, have been working this resolution for over a year and have creditors still threatening judgments. I am paying $92.00 a month in settlement fees (they CHARGE A FEE OF TWENTY-TWO PERCENT "22%" of the original debt at the time you enroll in the program- it is not based on the amount they settle it for), I pay a $10 for a monthly service fee, another $10 for a check payment fee and a $3 phone fee (??? No clue what that is).
I could have saved that money each month to go towards my debts and paid them down much faster. It’s a shame that I didn’t read the fine print, but I was just so excited by the thought of freeing myself of this debt burden and honestly was worn down and didn’t want to deal with it. I will be closing my account with them to prevent them from settling any other debts and add extra cash to the account to pay off my settlements quicker to save myself those extra monthly fees. I would recommend you just open a separate account that you won’t touch and throw a few hundred in there each month and work with your creditors yourself. They don’t stop the calls, they don’t expedite the recovery, they start by working with collection agencies they have good relationships with and settle the debts at what I would figure are higher rates than you could probably do yourself.
Having excessive credit card debt, I searched online for companies that would do a consolidation that would be safe and ended up with Pacific Debt. I wasn’t late on anything and they had me not pay any payments until the point that my creditors were putting me in collections, which I hated. I sent in all my statements then Pacific Debt consolidated it to one payment. But there were four cards at the time and they only settled one. So, I have this really large payment that I thought was going to replace the four payments but I actually only replaced one. Now, I find myself even further in debt than I was and I haven’t been real tickled with that.
I’ve been paying for a couple of years now and have communicated with my account manager via emails back and forth. There was sincerity in our phone calls and emails. I felt like they were really concerned about me individually and in helping me get out of debt. However, they could’ve been more upfront with everything in the beginning and went down the pros and cons. Now, my credit is ruined because of all those that I’ve let go and quit paying. Also, I did not know about the 25% that they were going to take from what they settled. That was buried in the fine print. So, I wasn’t happy about that because that’s just adding a big chunk of debt that I didn’t have. And that was the problem to start with, that I had too much. I could see them doing up to five percent, but 25% is a lot.
Some medical instances came up, then we got in over our heads. I had reached out to a couple of different companies and Pacific Debt's follow-up email to the initial phone conversation was the most professional. They seemed the most willing to work with us and get to know us. I did debt consolidation with them and they guided us through, notifying us that we were doing this. They helped us set up a payment plan, created the account for us to put the money in every month and then now, we’ve been working with Brian, our account manager, for almost two years.
Every couple of months, he lets us know how things are going. When we first started working with him, it was two or three times a week trying to figure out the best way for us and him to get things negotiated. I worked for a small business and my husband had medical issues. Brian got to know us and our situation. I felt like I have a personal relationship with him, not just business. When I call him, he calls right back.
I don’t feel like I’m just another case on his desk. Right now we’re just making the payments on the ones that we’ve settled. I feel the work that Pacific Debt put in has been very worth the money. There is no way I could have done this by myself and they have taught us a little bit more responsibility. Do your research. It’s not just a loan that’s going to hurt your credit and you’re going to have to pay the taxes, but when you’re in over your head, Pacific Debt's the alternative.