5/19/2010 8:48 AM (PST)

Jane,

Barron Document Processing Center appears to operate as a referral agency to various law firms or other companies for debt settlement, credit repair and loan modification services but they are not the company you would end up doing business with. These referral arrangements are “pay to play” deals, meaning that the referring agency receives some sort of consideration by the law firms for their referrals. This is a whole issue in and of itself, but more importantly, if you have read any previous posts here you will know that the experience of the BBB with debt settlement firms has been decidedly negative. Most people who complain about these companies state that their debts weren't negotiated, they were told to stop making payments, and the result is that they're in worse shape than when they started. Many are sued and are forced to file bankruptcy to rid themselves of the lawsuits.

There are many reasons why the debt settlement and loan modification industry is under scrutiny by the FBI, Secret Service, State Attorney Generals, and other financial crime regulators. These industries are using predatory fee models and deceptive advertising. Don't fall for the ads that are all over television: they are produced by slick third party lead generators and often times if you call the phone number you see on TV you will be speaking with the lead generator who will screen your call for distribution to any referral receiver who will pay. The FTC’s proposed rules will shut down the industry as it stands today - for good reason.

If loan modification services are what you are looking for, have you tried calling a HUD-approved nonprofit housing counselor? You can speak with a certified counselor by calling 888-995-4673. They can evaluate your housing options, open lines of communication with mortgage lenders, negotiate a loan modification, and help you with household budgeting, all at no cost.

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For debt negotiation services are what you need, have you tried a nonprofit credit counselor? Check out www.nfcc.org to be connected to a local accredited agency and also check out their "Debt Settlement Consumer Alert". Their national hotline is 800-388-2227.