Debt settlement companies have gained significant popularity in recent years, offering individuals the promise of reducing their debts for less than what they owe. One such company that has garnered attention is Golden Law LLP. However, when it comes to debt settlement companies, not all are created equal. In this article, we will take a closer look at Golden Law LLP, examining its services, reviews, and legitimacy.
What is Golden Law LLP?
Golden Law LLP presents itself as a law firm specializing in debt settlement. Additionally, they claim to offer services in areas such as bankruptcy, Fair Credit Reporting Act (FCRA) issues, Fair Debt Collection Practices Act (FDCPA) issues, and real estate law. Located at 2447 Pacific Coast Highway, 2nd Floor, Hermosa Beach, California, 90254, the company’s address corresponds to an office building with lease options ranging from one day to a year.
Interestingly, debt settlement is not prominently featured on their website, which can be found at goldenlawllp.com. While they provide their office phone number and address, the website lacks comprehensive information about their services, with only brief descriptions near the bottom.
Golden Law LLP Reviews
To understand the reputation and reliability of Golden Law LLP, we turn to two unbiased sources: Better Business Bureau (BBB) reviews and complaints, and Google reviews. While it’s important to note that these sources may contain a degree of subjectivity, they offer valuable insights into the experiences of customers.
BBB Reviews and Complaints
According to BBB, Golden Law LLP currently holds a 1.25 rating based on 12 reviews and an A+ rating. Over the past three years, they have received 21 complaints, with seven of those being closed within the last 12 months. Many of the complaints revolve around issues regarding the debt settlement process and a lack of upfront information provided by Golden Law LLP.
However, the company appears to respond promptly to complaints, striving to find resolutions that satisfy both parties. While their responses respectfully disagree with the complaints, they do not provide substantial additional information to aid individuals in further research. A company with a rating of 1.25 based on five reviews should consider evaluating its processes to identify areas for improvement.
According to BBB, Golden Law LLP has been in business since 2007, although their BBB profile was created in 2017. There seems to be a connection between Golden Law LLP and Chabner Legal Group, which merits further investigation.
The company is a rip-off.. they don’t help you. They rob you. I’m more in debt and my credit is ruined. Made payments for months and they didn’t settle anything. And of course nothing in escrow and they said it was used for their fees. All lies
I was told that all my money paid into an account would be used to pay off all my debt. I was told that it was my money and could take it out whenever I wanted. As time went by I had paid in approx. $3000. As time passed * could no longer afford the payments so I had to pull my money out. All they gave me was $498. They said the rest was used for fees. They had told me they would not talk to any of my creditors until they had all my money so why was there around $2500 worth of “fees”? They know I don’t have the money to hire an attorney so I am just out all that money and even deeper in the hole. Don’t trust what they tell you.
After deciding to use a debt consolidation relief program with Golden Law, I was told none of my credit debts had been handled and I need to enroll for two more years. They do not provide you with any sort of documentation with a full breakdown of payments you’ve made or what has been settled if ANYTHING. Feels like I’ve lost money to this company that I could have called to try to negotiate with creditors on my own terms without my pockets being burdened by their system further.
Surprisingly, a search for Golden Law LLP on Google does not yield any reviews or even a Google My Business profile. Despite conducting a thorough search, including verifying the accuracy of the listed address, no user reviews or ratings were found. This lack of online presence raises questions about the company’s reputation and the absence of public feedback.
Similarly, a search on Trustpilot does not reveal a profile or any reviews for Golden Law LLP. While it is worth mentioning that some companies actively direct customers to leave reviews on Trustpilot, the absence of any feedback on this platform, coupled with the lack of Google reviews, is cause for further scrutiny.
Evaluating Your Options
Now that we have examined Golden Law LLP and its reviews, let’s explore the options available to you as a potential client.
Review the Client Services Agreement
If you are currently enrolled with Golden Law LLP and wish to continue, it is essential to review the client services agreement carefully. Pay attention to factors such as fee structures and whether the company charges upfront fees before settling debts, as they identify as a law firm. Furthermore, researching their track record in successfully settling accounts is crucial to determining their effectiveness.
If, based on the information available, you decide to cancel your association with Golden Law LLP, reaching out to them directly might be your best course of action. Discuss your concerns and reasons for cancellation with their customer support or legal team.
What are some common concerns or complaints raised by clients about Golden Law LLP’s debt settlement services?
Clients have expressed concerns about a lack of upfront information regarding the debt settlement process, potentially leading to misunderstandings or unexpected outcomes. Some individuals have also raised issues related to the communication and responsiveness of Golden Law LLP during their engagement.
Are there any restrictions or limitations on the types of debts that Golden Law LLP can help with?
Golden Law primarily focuses on unsecured debts, such as credit card debts and personal loans. However, they may have limitations or restrictions on assisting with certain types of debts, such as secured debts or certain tax-related debts. It is advisable to consult with Golden Law LLP directly to determine the scope of their services.
Does Golden Law LLP guarantee specific results or outcomes in the debt settlement process?
No, Golden Law does not guarantee specific results or outcomes in the debt settlement process. The outcome of negotiations with creditors can vary based on individual circumstances, creditor policies, and the overall debt situation. They work diligently to achieve favorable settlements but cannot guarantee specific results.
Are there any potential risks or drawbacks to consider when engaging Golden Law LLP for debt settlement?
Engaging any debt settlement company, including Golden Law LLP, carries certain risks and drawbacks. It is essential to consider factors such as the potential negative impact on credit scores, the possibility of legal action from creditors, and the fees associated with the services. Conducting thorough research and weighing the pros and cons is crucial before making a decision.
6. Can Golden Law LLP assist individuals in avoiding bankruptcy through debt settlement? Golden Law LLP aims to help individuals explore alternatives to bankruptcy, including debt settlement. However, whether debt settlement is a suitable alternative to bankruptcy depends on the individual’s specific financial situation and the advice of legal professionals. Golden Law LLP can provide guidance in assessing the viability of debt settlement as an option.
How does Golden Law LLP determine the feasibility of debt settlement for a specific client?
Golden Law LLP evaluates the feasibility of debt settlement on a case-by-case basis. They consider factors such as the client’s total debt amount, income, creditor policies, and other relevant factors to assess the potential for successful debt settlement negotiations.
Are there any potential legal implications or risks associated with debt settlement through Golden Law LLP?
Debt settlement involves legal and financial considerations, and there may be potential legal implications and risks. It is crucial to consult with legal professionals and understand the potential consequences before proceeding with debt settlement through Golden Law LLP or any other firm.
How can individuals verify the credentials and track record of Golden Law LLP before engaging their services?
Before engaging Golden Law LLP’s services, individuals can verify their credentials, track record, and any relevant professional affiliations by conducting independent research. This may involve checking their standing with the Better Business Bureau, researching online reviews and testimonials, and seeking recommendations from trusted sources.
In conclusion, Golden Law LLP is a debt settlement company that presents itself as a law firm offering a range of legal services related to debt, bankruptcy, and real estate. However, the available information and reviews about the company raised some concerns.
While Golden Law LLP holds an A+ rating from the Better Business Bureau (BBB), its overall rating is relatively low at 1.25 based on customer reviews. Complaints indicate that the company may not always provide clear and upfront information about the debt settlement process, leading to dissatisfaction among some clients. However, it is worth noting that Golden Law LLP seems to be responsive to complaints and aims to find resolutions.
One notable aspect is the lack of online reviews on platforms such as Google and Trustpilot. The absence of feedback from previous clients makes it challenging to assess the company’s overall reputation and the experiences of others who have used its services.
Therefore, when considering Golden Law LLP as an option, it is crucial to conduct thorough research, carefully review their client services agreement, and evaluate your specific financial situation. It may also be beneficial to seek alternative options and compare them to make an informed decision.
Ultimately, engaging the services of any debt settlement company requires careful consideration and due diligence. It is advisable to consult with financial professionals, explore multiple sources of information, and consider personal reviews and recommendations before committing to a specific firm. By making an informed choice, you can increase the likelihood of finding a reputable company that aligns with your needs and financial goals.