New Beginnings Debt Settlement llc - Need info about this company

New Beginnings debt settlement LLC is a member of the BBB and have an A rating. They are also members of USOBA. They are certainly one of the higher rated settlement companies out there.

I recently cancelled my account with New Beginnings Debt Settlement. If they're one of the best I'd hate to see the worst. They will take more than one account but they can't protect you from lawsuits or wage garnishment. Another thing is they tell you to disregard any letters or calls you get from your credit card companies. I did this w/ Bank of America for 4 mths and it was only until I talked to a rep in earnest did I find out it was going into lawsuit status. I talked to my apathetic acct. manager today and he was like "Oh, BoA is one of the worst ones to deal with, as is Amex." Now he tells me... Nicobear, if I was you, I'd try and work out a payment plan with your creditors like mine have. Just putting in my 2 cents, hope this helps.

I am sorry to hear that Bank of America is suing you. Some times creditors can be aggressive when they used to not be. It used to be Citi Bank that was the most aggressive and Bank of America was the easiest to work with but now they have seemed to swapped places. Unfortunately no settlement company in the world can protect you from lawsuits or wage garnishment. When this does happen , usually the purpose is to force a settlement. All is not lost however. I would suggest you show up to court with your budget showing hardship and your contracts showing your had New Beginnings Debt Settlement contact them and tried to reach a compromise to resolve your debt. Let the judge know you had full intentions of taking care of your financial obligations without having to file bankruptcy. A lot of time the judge will throw the case out and tell the creditor to work with you. A settlement company like New beginnings can still typically settle on an account that has a judgment even if you go to court and lose. It will likely settle at a higher % but they can at least work something out and start working on the rest of the accounts you owe on.

How much do you owe them? I'm afraid too cuz my debt settlement company is on longer with BBB. They are still with TASC thou. I owe BOA about 20K. My debt settlement company, New Beginnings Debt Settlement, told me that they will do a something like "motion of repell" to delay the court. I may have spelled that wrong. I couldn't recall what they told me. They said they will do something like that so it will delay it for 2 years. I won't need to go to court. Then, they will work something out quickly if they sue.

I assure you New Beginnings Debt Settlement are members of the BBB.

I sent this company over $4000.00 dollars they sent me cards
to send to my creditors to close those accounts along with a
form letter. I could not afford to keep paying them because I
lost my job, so I ask if I mite get some money back, they said
no. so I ended up paying a lot for nothing. Be careful with this
company.

There is never a reason to use a debt settlement company. All they do is take money from you every month and set it aside while they let your accounts get far enough past due that the companies will negotiate settlements. They do not have any more leverage or negotiating power than you do and many companies will not work with them as willingly as they would work with you directly.

They send out a lot of form letters and swear to you that the companies have to stop calling you, which legally they usually don't have to stop. Other than that, they serve no purpose. Most companies have a settlement matrix already in place that will start sending offers automatically to customers based on their FICO and level of delinquency. If you were to start putting that same amount into your own savings account and started trying to work with the creditors yourself after letting your accounts get 5-6 months past due, you would find that they would probably offer to settle with you for anywhere from 15% - 60% on each account.
You do NOT need an agency to settle for you and charge you a fee to do it. If you are in that hard of a situation, why part with extra money to pay them to do what you CAN do yourself. Credit card companies settle all the time once an account goes far enough past due - these companies are not working any deals or doing anything special for you. Their reps rarely, if ever, will even call your creditors for you -- they just send mass form letters to the creditors offering 40% settlements over and over again... eventually the cards all get far enough past due and your credit sucks enough that the companies accept the offer... tell me how they do anything that you couldn't do yourself. DO NOT use a settlement company unless you want to piss away even more money....

Yes you can settle debts on your own. However to say that by hiring a debt settlement company you are pissing your money away is ludicrous. With that mentality I suppose anyone who hires a mechanic to work on their car is crazy. All they do is take your money . Not everyone wants to take the time to do all the dirty work negotiating and settling. Just like not everybody has the time and knowledge to fix their car.

I have used New Beginnings Debt Settlement llc and am extremely pleased with the results thusfar. One thing you need to understand going in is that NO COMPANY can prevent you from being sued. Teh primary creditor always has that right. However, New Beginnings was very helpful in getting me out of debt, and especially helpful when it came to dealing with the collection companies. It was a scary part of my life and they were a lifesaver. I am sure there are several very good companies out there, but I only know what I dealt with and these guys were great. Highly recommended.

Actually I am of the attitude that you are pissing your money away by hiring debt settlement companies. The credit card division of the company I used to work at always gave better and higher settlements to debtors calling in to settle their debts. Almost all card companies gave them blanket settlement authorizations that they could settle up to a certain amount. They never gave people using these companies as big a settlement cause because you are basically telling the CA you have extra money to waste plus you dont have the balls to cal in and deal with/settle your own debts. Comparing them to a mechanic is a little way out in left field...mechanics have hands on training. Settlement companies send out form letters and their bottom line is profit for their owners/shareholders. They really dont give a hoot about their customers.

I have worked for the credit card industry myself and I now currently work for a settlement company and yes we do care about our customers.

Quote:

i didnt work for a credit card company...I worked for a collection agency for many years. Our credit card collectors had blanket settlements....and they would pick how much they wanted to settle for when settlement offers/requests came in. We did the same in the student loan division...when a borower was represented by an attorney, we would never give them the lowest settlement we were capable of giving.

i didnt work for a credit card company...I worked for a collection agency for many years. Our credit card collectors had blanket settlements....and they would pick how much they wanted to settle for when settlement offers/requests came in. We did the same in the student loan division...when a borower was represented by an attorney, we would never give them the lowest settlement we were capable of giving.

Well as far as the mechanic reference, I completely agree - but this is how I look at it.

If I were hard up for cash and in a tough situation, would I open the hood and start trying to replace the entire air conditioning unit or the airbag -- probably not. However, would I bypass the Lube shop and change my own oil or check out the manuals and change my own plugs and wires - yes, I would do that.

Do I enjoy taking time out of my day to scrub my own toilet, No! Can I hire someone else to do it, surely - but if I'm struggling to fill my refrigerator and can scrub my toilet just as sparkly clean as Merry Maids can - doesn't it make more sense to save my $$$ and scrub the toilet myself?

Settling your own debt is NOT complicated AT all. A quick Google search or a visit to a site like this can easily provide you with all the resources and information you might need. Therefore, to me, it seems truly insane to tell someone who can't pay their bills in the first place, to try to eek out money to pay a company to do something they can very easily do themselves.

New Beginnings Debt Settlement llc took $3000 of my money as Fees. I am really pissed since they did not settle with the creditor that eventually filed a civil lawsuit against me.
I would need help. Can I file a claim against New Beginnings in a small court? Since they did not settle my debt, why would they charge me so much in fees? I felt I pissed all of my hard earned money away to these rotten scoundrels!!! And I am in even deeper debt than before! No wonder this country is going to dogs!!!!

Well i check the BBB and there rating and reviews are A+ and plenty of reviews stating they are a very good company. Hope it goes well for you.

i would like to just say that if you can settle your debts on your own you are better off. However some people are just not comfortable and cannot handle this type of stress i was one of them. Some people like my husband and i were both working 2 full time jobs. Hard to talk during normal business hours and when we could have we were too exhausted. To say that one is better than the other no one can really say because it all depends on your own personal situation just like not all issues should be delt with settlement, consolidation, or even bankruptcy. Every situation is different and need to be treated as such.

What i can say is that to say that settlement companies dont give a hoot about you i would say is incorrect. I had a very positive experience .with the company i used(even though the whole thing was very stressful). I recieved a copy of every single letter they sent out, and i myself would call them about 1 day a week to find out progress and who they worked with that week. They were always polite never annoyed with me and explained what went on that week.

I would say that if the BBB rating is good, all complaints are resolved, if they are a member of the tasc, and you have googled thier name many ways to find what people are saying and are satisified, then this is your personal decision if you feel that this company is good or not.

In the end, you must weigh the options for yourself. Remember the road is not easy. Know about debt settlement and how it works. No company can promise you that you wont get sued, they cant promise a $ amount that will be settled, and they cant promise a time limit. you may be done in a year it may be 3.

And to say that a individual can get a better settlement than someone in a settlement company, i cant say for sure but i really dont agree with that. I was very happy with my settlement results. i had 1 that gave me problems but the rest were very willing and gave me very good settlements.

Roger you have already posted the exact same thing on another topic. http://www.debtconsolidationcare.com/settlement/newbeginning-claim.html

Quote:

They no longer have an A rating, it's a B-. Do not work with them unless you have a very small amount of debt.

Lori , you have no clue what you are talking about. It is extremely hard for a settlement company to get a rating higher then a C- with the BBB. To have a B is very good in the settlement industry. TASC has an excellent article regarding the new ridiculous BBB rating standards for the settlement industry. They only have 19 complaints with the BBB and all of them resolved. You will have a hard time finding a lot of settlement companies with a better reputation.

I do know what I am talking about, I speak from experience.

And what experience is that because you opinion is extremely biased ?

It was an experience with them. Have you worked with them?

If you could offer some advice on this, I'd appreciate it. Thank you.

I know a lot of the people that run that company from TASC and USOBA conferences. Plus one of my best friends is an active client with them right now and has had excellent results thus far.

What we owed was a higher balance on one account and several smaller ones. So the one company sued us. NB were not able to help and that was over 70% of our balance they were going to help us with. They still took our money even though they did not help on that account and will not refund.

There must be more to the story than because I know for a fact that the New Beginnings Debt Settlement LLC in Jupiter Florida has a money back settlement guarantee. If they can't settle the balance of an account for at least 55% or better they refund your the fee to settle that debt. They are pretty much one of the only settlement companies that even offer a guarantee like that. I am sorry you got sued but that is not their fault. They didn't get you in that hardship that caused you to need the services of a settlement program. There is not a single settlement company that exists that can promise that you won't get sued and if one promises you otherwise than they are lying.

I know it's not their problem we got sued. I understand and delt with it but they still took our money. I just want the money back from them for the accounts they did not help us with. The BBB tried working with them as well for us.

New Begginings sounds like a wonderful oppurtunity, but they fail to give you ALL the little details in your contract. They didn't disclose to me everything that I needed to do and now after trying to work with them for a year I have to file for BANKRUPTCY! All they did was take my money, (with they are not standing by their 100% money back guarentee) and let me fall further behind in my debt, I am now going to loose my house as well as the majority of my paycheck to garnishments. I HIGHLY WARN ANYONE TO NOT WORK WITH THEM! Your better off filing for bankruptcy in the first place.

New Begginings sounds like a wonderful oppurtunity, but they fail to give you ALL the little details in your contract. They didn't disclose to me everything that I needed to do and now after trying to work with them for a year I have to file for BANKRUPTCY! All they did was take my money, (with they are not standing by their 100% money back guarentee) and let me fall further behind in my debt, I am now going to loose my house as well as the majority of my paycheck to garnishments. I HIGHLY WARN ANYONE TO NOT WORK WITH THEM! Your better off filing for bankruptcy in the first place.

New Begginings sounds like a wonderful oppurtunity, but they fail to give you ALL the little details in your contract. They didn't disclose to me everything that I needed to do and now after trying to work with them for a year I have to file for BANKRUPTCY! All they did was take my money, (with they are not standing by their 100% money back guarentee) and let me fall further behind in my debt, I am now going to loose my house as well as the majority of my paycheck to garnishments. I HIGHLY WARN ANYONE TO NOT WORK WITH THEM! Your better off filing for bankruptcy in the first place.

New Begginings sounds like a wonderful oppurtunity, but they fail to give you ALL the little details in your contract. They didn't disclose to me everything that I needed to do and now after trying to work with them for a year I have to file for BANKRUPTCY! All they did was take my money, (with they are not standing by their 100% money back guarentee) and let me fall further behind in my debt, I am now going to loose my house as well as the majority of my paycheck to garnishments. I HIGHLY WARN ANYONE TO NOT WORK WITH THEM! Your better off filing for bankruptcy in the first place.

I worked for this company for almost a year, before finally being fed up with the way they treat their customers.

1. This company is a back end center. They outsource their ???salesmen??? in offices across the U.S. These ???sales??? offices all advertise under different names that are constantly changing. Once you are sold on the program, the sales offices send your info to NB and their people start contacting you. Why is this bad? Because they do not tell you this, and a lot of clients do not figure it out, so if you have a complaint and want to file with the Better Business Bureau or the Attorney general, you are going to file under ???generic sales office name??? not NB. NB has a Better Business Bureau rating of B- with few complaints, but their leading sales affiliate has an F rating with over 100 complaints, which has changed their name already.

2. All they are doing is talking and not talking with your creditors, therefore they aren???t hiring too many college graduates. The company is not going to hire a qualified finance manager at $20 an hour when they can pay an 18 yr old kid $10 to do the same thing. Now when you enter a settlement program you are giving them your SS#, all your bank and credit card info, and they require you to sign a limited power of authorization???.OVER THE PHONE AND FAX. Think about a revolving door office full of 18-21 yr old kids passing around your SS#. Any informed consumer would say " NO WAY"

3. Take some of these post and sanctions such as TASC with a grain of salt. Debt settlement companies pay TASC directly to be affiliated, along with other accredidations such as USOBA. If you are reading a comment that says " It's a good company blah blah" , it is most likely a sales pitch from someone still working in the industry.

I???m out of time now, but I???ll try and post some more info later on.

Looks like a disgruntled employee trying to smear their former employer.

Before signing on with New Beginnings, please check out the amount they charge. In my case they were setting me up with a five year plan. This would include their
monthly $49.00 coupon = 5 yr total 2940.00
the one time enrollment fee = 1495.00
hiden in your monthly ded is a min $100 fee = 5 yr total $6000.00.
So over the 5 yr term you will pay 10,435.00 to new beginning. This is their fee which none of it has been applied to your debt.
Then try to cancel out of the agreement, nearly imposible.
They give you a 45 minute run around.
Watch out!!!!

Be careful with this company. I signed up changed my mind and have spent the last two days trying to undo it. They withdrew money out of my checking acct even after I canceled and when you call you can never get a response. Don't wait for them to call you because they won't. You are probably better off dealing with your creditors yourself.

Thanks to you all for your posts. I recently lost my job and, while not quite to the point of desperation, I am looking for a way to resolve my debt of over $30K. It's scary since I have virtually no savings and my unemployment benefits are barely enough to pay my expenses. My girlfriend suggested New Beginnings because she heard them on a Christian radio station here in Orange County, California. I thought about doing a little research on my own and, so far, from what I read, it seems that you are better off trying to negotiate with the credit card companies on your own. According to MSNBC, the credit card companies are typically only willing to negotiate if you are three months or more in default. They are less likely to deal with you if you pay your bills on time. However, I did see one story on NBC news in late July 2009 that a couple that had a credit card debt of $60K was able to negotiate 70% off their total debt after the husband lost his job. Their liability would only be 30% of what was originally owed. (It's possible that I may have misunderstood and that the couple actually negotiated the debt to 70% of the original amount, but it would still be a reduction of 30%.) Unfortunately, I can't find this news story on the NBC News/MSNBC website. There are two conclusions I have about the blogs in this post: 1) I'm suspicious of mobile0311 and I wouldn't trust him. He sounds like he's an actual employee of New Beginnings and the answers he gave to two of the posts were very similar in response to where the New Beginnings customers were sued and they weren't able to recover their fees from New Beginnings. It almost sounded like a "rubber stamp" answer. I also couldn't help but notice how defensive or protective he became whenever New Begginnings was criticized. 2) The blogs that were negative of New Beginnings, based on their own experiences, seemed more credible and believable. Their experiences have swayed me to stay away from New Beginnings. I'm still convinced that most, if not all, debt consolidation companies will have a cloud of suspicion over them for one reason or another.

Go to this website:
http: // answers.yahoo.com/question/index?qid=20090623100100AATO1mC

This blog has a lot of helpful information regarding New Beginnings or any other debt consolidation company for that matter. I've heard a lot more negatives than positives when it comes to these companies.

Well, I have been with New Beginnings for 2 years. I'm in the process of trying to get my fees reimbursed. In their original paperwork they tell you you will save so much... In my case it was $5000. Bottom line, I finished the program early - and they will tell you I did EVERYTHING they instructed... But I saved a little over $1000. Considering the fact I paid New Beginnings $1,800 in fees, I LOST MONEY AND RUINED MY CREDIT. I did not go into this with accounts that were behind and lawsuits about to be brought up against me or ANYTHING like that. I was working two jobs and got hit with a huge financial need and went with New Beginnings because I was afraid I was going to be in a pickle. They promised (guaranteed) but are not sticking to their promise. I don't care what organization they belong to - if they guarantee something and don't provide and then won't refund what you paid them, they are LOOSERS! PERIOD. I found in requesting a refund of fees they play SERIOUS run around... Claim their promise to save and claim that they have a 100% success rate is because they can get a 50% settlement of NOT your original debt, but what you end up owing on your accounts. Well, if you follow their instructions to stop paying on accounts then the accounts - whatever banks they are with - seriously jack up the interest rates and fees. So when you are ready to pay them you owe them a ton more than you originally did... So when they take 50 - 75% that may be more than what you originally owe. I know hind sight is 20/20 but I will NEVER use a debt settlement program again. Like I said, I started with decent credit - just $12,000 in debt... Ended up paying $13,000 and having horrible credit. RIPPED OFF!!! DON'T DO IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

You said: "If they can't settle the balance of an account for at least 55% or better they refund your the fee to settle that debt. They are pretty much one of the only settlement companies that even offer a guarantee like that."

They say they will guarantee this BUT THEY DO NOT! I KNOW FROM PERSONAL EXPERIENCE!!! And from looking over these responses, I'm not the only one who had them NOT KEEP THEIR GUARANTEES AND END UP PAYING MORE THAN I ORIGINALLY OWED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! You seem to be the only supporter... Work for them???

Sorry, I pulled that last quote from MOBILE's response to someone... So it was MOBILE who I wonder if they work for New Beginnings... If you do, there's a lot of people out there wanting New Beginnings to keep their guarantee - maybe you can do something for us! LOL!

Pretty much all reputable settlement companies like New Beginnings require a budget from the client that is considering their services to make sure they are even a good candidate for debt settlement . If you are not overextended and thus have no hardship they will not enroll you and will suggest you consider a debt management program with a non profit consumer credit counseling company. By the way ,did you actually read the contract ? I know for a fact the contract does explain the risks involved with debt settlement. Also most good settlement companies like NB have a compliance department you must speak with after signing the contract before they will enroll you . They have this department to make sure you have a full understanding of the pros and cons of the debt settlement program and to make sure the sales rep did their job explaining everything. Of course they also have this to cover them selves from clients like yourself that tend to have selective amnesia if the settlement process doesn't go perfect. If what you say is true about them not honoring the 55 % settlement guarantee than file a complaint with the BBB. They are members and will help resolve the dispute. There are two sides to every story and I have a hard time believing a lot of what you say.

FYI : I don't work for New Beginnings. Although I wish I did. Jupiter Florida is a beautiful city.:D

I just finished the program 3 months ago. It was great and they did everything they said they would. There was $$ left over and they sent it back to me. I would highly recomend this company to anyone.

Well, I guess New Beginnings is not very reputable as you suggested... They did not suggest I use a debt management program... It seems to me they were more than happy to take my money and tell me to stop payment on all accounts, ruining my credit when it had not been ruined until then. Yes, I read the contract!! The risk with my credit, well, I specifically asked about this issue when I enrolled and they said it would affect my credit negatively at first, but once finished with the program my credit would be restored in about six months. Considering two accounts were not settled for less than what I originally owed, I will be paying them out for several years. As a result, though I'm finished with the NEW BEGINNINGS PROGRAM, my credit won't look better within six months... Maybe six months after I finish paying the last of these accounts it will begin to improve... As far as their guarantee and a refund - I'm working on it. I keep calling only to never hear back. I'm sending an official letter today with copies of the contract, the quarantee highlighted, etc... If they don't refund my money I will be contacting the BBB... Again, it's not right they guarantee a certain amount of savings if they don't deliver!

Very Happy Guest... I'm so glad for you!!!!!!!!!!!!!!!!!!!!!!!!!! Maybe they'll quit giving me the run around and actually stick to their guarantee, refunding my money... That would be nice! I would change my tune if they'd just honor their word...

You should report this to the Attorney General as well as the FTC.

Click on the link below to read an article about debt settlement companies, it looks like New Beginnings Debt Settlement, LLC got in trouble in Colorado.
http://www.ago.state.co.us/press_detail.cfmpressID=957.html

What state are you in LadyE?

Ok... I AM VERY SORRY!!!!!!!!!!!!!!!!!! I WAS WRONG!!!! I'm SO GLAD I WAS WRONG! HERE'S HOW...
THE PERSON WHO WAS SUPPOSED TO BE HANDLING MY DEBT WITH NEW BEGINNINGS WAS THE ONE WHO WAS THE PROBLEM. They gave me the serious run-around and everything else when I started asking for them to actually keep their guarantee... WHEN I WAS FINALLY ABLE TO SPEAK TO SOMEONE ELSE THEY FIXED IT!!!!!!!!!!!!! YIPEEE!!!! THANK THE LORD!!!!!! ETC... It took them a few days because they said there was a ton of stuff in my file to go over... However, true to their word, they agreed they owed me money back!!!!!!!!!!!!! They said they'd have the money in my account within a few days... It's there already!!!!!!!!!!!!! I was SOOO IMPRESSED AND PLEASED AND EXCITED THAT THEY KEPT THEIR GUARANTEE!!!! THE LONG AND SHORT... I THOUGHT I WAS "TAKEN" BY NEW BEGINNINGS... IN THE END THEY WERE FAITHFUL TO THEIR WORD THOUGH!!! THUMBS UP TO THEM!!!!!!!!!!!!!!!!!!!!!!! Forgive my premature frustrated comments earlier! Looks like I won't be having to contact BBB or any Attorney Generals!

Has anyone ever heard of "A New Beginning Financial"? Not to be confused with New Beginnings, I wanted to see if anyone has heard about this Christian-based organization. I am currently researching debt consolidation companies. Here's the link for A New Beginning Financial:

[COLOR=Red] link removed per forum rules[URL="http://anewbf.com/"][/URL]
[/COLOR]
Any info would be appreciated. I'm hearing a lot more negatives than positives about these debt settlement companies, so I may consider filing for bankruptcy as an option. Thanks.

Task is not really for accredieted companies if they are not with the BBB dont do it and make sure that the company has many years experice like tthe company I worked with they average getting people out of debt for atleast half of what you owe and they get the creditors to settle and report it to your credit as paid in full and that helps big time. Most companies will have it reported as settled or paid as agreed and that is not good!!! They even give a written Gaurentee that you will save a min of 25% of what you owe or they refund your fees they have been around 12 years and were featured on the Montel Williams show as the priemier debt settlement company in the country. And they do get better settlements the doing it yourself I tried, they did a great job they unlike any other company really fight for the best settlement because they dont charge flat fees they charge you a percentage of what they saved you so they are truly on your side the more they save you the more they make so that is why they try to gey you the best , lowest possible settlement ! Yes there are some companies that dont fight for you as hard as others so be carefull its like going to the Dr always get a second opinion and make sure that the DR has expereince, and who really has the time to sit on the phone for hours day after day fighting with creditors it is a service just like everything else you pay for people to do for you just choose the best one you feel will work hard for you!! I love the people at Debt Negotiation Services they saved my life. I was able to eat 3 meals a day again, and sleep at night and took a load of my shoulders that wasjust unbearable if any one needs a real good company call them they are the best in my opinion!!! Look them up online at havedebt.com

although that sounds really great, and im glad it worked for you, no settlement company can promise you anything. and they really cant promise you that it will be marked paid in full on your report, they can try but that doesnt mean it will work out. Although i do agree its best to choose a company that takes a % of what they saved you cause this means they work harder for you, harder for thier commission. But any settlement company that promises you for a fact is something that you should be leary of.

credit card companies will get to a point were they will no longer negotiate and take you to court period. the end. now you can still try to settle or negotiate but that doesnt mean they will. if they are stuck on getting 30% out of you thats what they are gonna do.