I was taken for a ride by 4 Pillars Consulting Group. This company blatantly claims that their client’s financial debt will go down once they work their magic. They will supposedly help in removing big chunks of the debts of their clients through a financial restructuring plan. I contacted them since I was looking for some assistance with my taxes which were in arrears for roughly 6 months. My credit rating, however, was R1 which is very good as you all know. My creditors were quite satisfied and it was only the taxes that I owed at that moment. Maury was the person I met at the 4 Pillars Consulting Group office. He assured me that my debts would go down by close to 50%.
This stunned me and I was a little anxious about the truth of the claim although Maury reassured me that there was nothing to worry about. I told him that I did not want to escape from paying my liabilities. He then saw what I owed in taxes as compared to my income. He told me that no cash flow was there and hence I had to lower my debt levels in order to have a little cash in hand. He asked me to stop worrying about my creditors since these debts are written off by them. I was charged $3, 000 and I could only pay $1, 000 each month for a period of 3 months. My proposal could not be fully finished and ready for the trustee till the final payment would be made.
Maury then asked me to just stop paying all my creditors which I did not listen to but then I stopped paying them after the final payment was made to this company. My proposal should have been READY but it was not. Thereafter, my creditors kept the phone calls coming and I got really anxious. However, 4 Pillars did not finish my proposal and in spite of all my emails, they got back to me a month later. I was taken to another consultant named Scott. I got 10 minutes to see the proposal before the trustee would sign it.
Now came the hook- I would have to pay $320 per month for the payment on the proposal. After a couple of months, the trustee sent me a letter where he said that I would have to meet at his own office and also that the proposal was filed. I met him and was told that there is a revised proposal to sign. They wanted $900 each month for a period of 5 years. Also, if did not accept the proposal and went fully bankrupt, then they will need $1, 500 per month. You can imagine how jittery and shocked I was! Not only did I fork out $3, 000 earlier, I was now having to pay thousands which was higher than the money I originally owed. And my credit rating came down to R7. I called 4 Pillars and asked for a meeting with Scott and Maury although the latter did not come. Scott said that the creditors would not listen. He tried to lie to me about the facts and figures. I also asked about a refund since 4 Pillars did not lower my debt and instead lowered my credit score while increasing my debt levels at the same time.
I was again shocked when Scott told me that there was no guarantee that 4 Pillars’ proposal will be accepted by the creditors in spite of Maury’s false promises earlier, asking me not to worry at all. Now I have zero chances of obtaining any credit or purchasing my home in the future thanks to these sly crooks. Service was horrible, they took money and they did not do anything for me and instead put me in a pit from where it will take me a really long time to come out. The guys have not even put in an apology, let alone rectifying the situation. It’s a horrible company. And debt reduction claims? It’s just a good joke!