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Wolpoff and Abramson threats
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Posted by WA Victim (208.246.35.241) on July 13, 2004 at 20:25:59:
I've been reading old postings here about people struggling with Wolpoff and Abramson. Unfortunately, the more I'm finding out now, the more I wish I had been informed sooner. In brief, W&A contaced me continuously last year over a credit card debt owed to MBNA. Naive and intimated, I agreed to their threats and intimidation practices, and have been paying them $275 a month since then to pay off the amount. It is now around $1,500, roughly, and in 6 more payments will be paid off. Since then though, I've tried to clear up other debts that I owe from unwise spending in college, and went the route of debt consolidation. This all just happened rather recently. Currently I'm signed up with the consolidation company to make payments through them to my debtors, and under that agreement W&A will only be receiving $55 a month towards the amount I owe them. I contacted W&A today expressing my intentions to change my method of payment and no longer pay such huge monthly amounts to them. Upon hearing this, I was informed by the "attorney" that if I refuse to pay $275 a month, I am defaulting on my settlement with them, and they will be forced to take me to arbiration with, big surprise here, the National Arbitration Forum. Following everything I've read about arbiration with the NAF, I am understandably concerned about letting it get to that point. I do not want to get into legal proceedings of any kind with W&A, but also can no longer afford to pay them $275 and ignore my other debts every month. I was told by my debt counseling agency that should they refuse the amount of $55, and I make 3 good faith attempts to negotiate a comprised reasonable price (i.e. $100/month), and they still insist on arbitration, I should, in essence, call their bluff. This strategy also makes me nervous. Since you seem to be informed on this topic, I was hoping you might be able to enlighten me a bit on what my next step should be. I thank you in advance for any help you can offer. Thanks, Marla Keethler
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