David Merbaum of Merbaum & Becker, P.C. interviewed as a contributor for an investigative journalism article by Fox5 I-Team.
Family Paying Down Debt Ends Up in Deeper Than Before
The I-Team’s Dana Fowle has the story from a local woman who is now left asking, “What do I do now?”. She’s from a young family who went to a debt consolidator to ask for help. After months of payments, the family is now deeper in debt than when they started.
Attorney David Merbaum has lots of experience in these cases and here’s a list of things to consider.
Make sure you get a copy of every check that the consolidator is sending on your behalf.
Better yet, he says, after the consolidator negotiates the deal for you, write the check yourself.
Do not sign over your Power of Attorney to the consolidator. This takes the debtor out of direct contact with the credit and that’s dangerous.
Original article updated January 17, 2014. This article is no longer available online. Use the following link to the a PDF copy of the original news story.