I started with Anchor Law Firms debt resolution program in April, 2018 due to several health issues that forced me to live off credit cards. The amount of debt enrolled was $50,009. My total cost for the service was $33,602 with estimated settlement amount of $21,003 going to creditors. I was told multiple times that I would pay the $33,602 and my obligation would be finished, that I would not have to pay anything more. My savings was supposed to be around $16,407. The contract was for 52 months, paying $646.10 per month. After the 52 months passed, and the amount $33,602 paid, I was told I needed to keep paying since the total debt had been resolved. The estimate After 52 months, 21% of enrolled debt had been settled and 33% of creditors resolved. The amount of the one debt that had been resolved was $14,192. I agreed to a settlement amount of $9320.00. On their customer portal, I can see general information for this debt. There is a line called “Adjusted Balance”. The amount in this line is $10,351.79. I called and asked about this but was not given an explanation where the adjusted balance came from. The total settlement amount to this creditor was $19,551.79 - I actually paid more than the amount enrolled. This was due to Anchor allowing this to go into litigation with the creditor. The amount of the debt wasn’t negotiated down and I got stuck with the plaintive’s attorney fees. I have not received any documentation or explanation as to why the resolution was nearly double the settlement amount that I agreed to.After the 52 months Anchor was still withdrawing the monthly payments from my account. I called multiple times about this. The first time I called, I was told I had 3 more payments due and then I would be done. The second time I called I was told that I had to keep paying until all the debts were settled. During this call I was told the debt for $23,598 would take another 3 years to resolve and that I was expected to continue paying until that was resolved. I was also told at that point that the total amount I would have to pay around $27,000 since this debt had gone into litigation and I would have to pay the plaintiff’s attorney fees. Again, Anchor allowed this to go into litigation. I am looking at paying the total amount of the debt, plus plaintiffs attorney fees.The debt for $11,469 could have been resolved 2 years into the program. When a creditor makes an offer to settle the debt for a lower amount, Anchor is supposed to call and email to get approval from me. The creditor offered a settlement of about half of that debt, however Anchor never contacted me about this offer. I became aware of the offer via email to let me know the offer has expired. There was no contact prior to this.This has been a horrible experience. After paying Anchor over $33,000, my struggle with debt still continues. Stay away from these guys - your better off dealing with your creditors on your own.
Claim your business profile now and gain access to all features and respond to customer reviews.
Anchor Law Firm represent clients who require legal services in the areas of bankruptcy, credit reporting, defective products and more. Anchor provides exceptional legal representation designed to protect all of your rights under the law. Aggressive legal services are often required when dealing with complex cases or litigation that involves large companies.
