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Bob wrote to me and asked the following question.

“Dear Steve,

After ever increasing interest charges on our accounts, we found that we could not keep up the monthly payments. We thougtht if we could space them out that we would eventually pay the bills. Allegro Law made this sound as if it was the answer to our problems. So far, we have had no help from them.

Is there any way for us to recover any of the more than ,000 that we have paid into Allegro since December 2008. To date they have paid 0.00 on one of our accounts. My debts are 0,000. We believed Allegro that we could pay our creditors over a period of five years. So far all that we have been told is that our money is going for lawyer fees. We have 7 in Escrow.

Please help. We do not know where to turn.

Bob”

Dear Bob,

I am so sorry to hear about your experience. It is unfortunately not uncommon when working with a debt settlement company. Allegro Law has been in trouble lately and in fact it’s lawyer owner has lost his law license for three years.

The folks that you have been primarily dealing with are probably working for Americorp in New York, the underlying service provider. There is a very interesting post about this online.

Based upon the experience of others, I would suggest that if you want any chance at getting some of your money back that you contact Allegro and let them know that unless you get a refund you will contact the Attorney General in the state where you live and Alabama, along with the BBB to file a formal complaint against them. And if they refuse, then file the complaints.

It is doubtful that your debts are going to get settled in this program and unless you can afford ,400 a month in a debt management program payment you are probably headed towards bankruptcy. But what the hell, after this experience your credit is already shot and bankruptcy will only begin to clean it up.

I’m very interested in what happens and what Allegro Law says when you ask for your refund. Please keep me posted in the comments section of this question.