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Review 7/17/2009
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Thank you American Debt Foundation:
Four years ago, my wife and I were in serious financial trouble. With the job market for engineering collapsing where we had previously lived and with my wife's numerous health conditions, we were forced to let our home go into foreclosure--a home in the mountains west of Denver that I had spent four years in building. We moved to New Mexico to start over, determined to keep the rest of our debt current and try to salvage our credit score. We were current in all of our credit cards and even trying to pay off some of the $30k that we owed for medical and moving expenses. But because of the foreclosure, the bank used that opportunity to raise my interest rates on the cards. In May of 2005, we received two notices in the mail that our interest rates would increase from 9% to 29%! After some research, we called The American Debt Foundation.
Your debt counselors were very professional and helpful. At first the phone calls from the bank and collection agencies were unnerving and distracting. American Debt, helped me to concentrate on making money and providing for my household while they kept the collection-agency sharks at the other end of the pool. The peace of mind and negotiation skills of the folks at ADF helped me to sleep better at night and soon the letters and phone calls ceased all together. Within about a year, I got a call from ADF that they had negotiated a settlement for the first of my three debts. The negotiations for the second debt happened the next year. The last debt took a little longer than expected, but after four years we are finally debt free!
ADF settled for my debts at an average of 34 cents on the dollar. Even with ADF's reasonable fees, my $36,000 debt was negotiated down saving me over $21,000 out of my pocket. Thank you again ADF, it's been a long road but we are finally at the end of it.
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