Small Business Debt Relief Program

This is one of the debt relief companies, currently run by Tim Wright that promises you the world and delivers little. This is an area that I know a great deal about so read carefully and I will protect you from being taken advantage of.
For years there were debt resolution companies that would solicit people with credit card debt. Here is how they operated: (1) they would instruct you to set up a bank account and place a certain amount of funds therein each month, (2) the company would then send «cease and desist» letters to your creditors informing the creditors that the debt company now represents you, (3) you are then instructed to stop making monthly credit card payments, and (4) as your bank account grows to the point where it contains at least twenty five percent of a given debt the debt company would begin negotiating on your behalf. By the way, while this was going on you were paying this company negotiation fees up front, before they ever negotiated a single deal.
This sounds great except that while the entire process of you building a bank account is going on the credit card company or debtor may sue you and the debt company is powerless to stop it. Additionally, your credit score takes a huge hit every time you fail to make a payment. Finally, the companies were unregulated in most states and operated from call centers that could be easily closed down in the event that you tried to commence legal action against them.
States like North Carolina began regulating these agencies and demanded that a lawyer be involved. Other states required licensing. Finally the FTC stepped in and began regulating the industry. Why is the Small Business Debt Relief program in business? The answer is simple, they have at least one lawyer that they are affiliated with and then tell you that their advisor is working under the supervision of a lawyer. They simply hire a lawyer, who has little or nothing to do with the everyday activities and they are continuing the very practices that the FTC is trying to stop.
Interestingly, they send out facsimiles in violation of FTC rules in that there are no return facsimile numbers. At the bottom of the fax they say «No longer interested? Please call 866−355−1080. They write this to make it look as if they were responding to your request knowing full well that they send the facsimiles out based on «lead lists» that they purchased.
Here is the bottom line; this company is violating the spirit of the FTC regulations relative to debt arbitrators. If you get involved with them I would clearly get the name of the attorney that is «representing» you and check the American Bar Association for complaints. In my view, the safest course is to stay far away from these bottom feeders.