Lincoln Credit Group

Has any one of you have tried to use this LINCOLN CREDIT GROUP service for debts settlement ? please share your experience with me ,thanks !
:confused:

20 Answers

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I also have terrible experience with this company and am thinking to sue them for false advertising.  Do you know if anyone has filed the claim?


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This compan y is a rip off.  First they make an effort to make their letter look like a Officail USG document with a US Eagle emblem on the front.  The language inside states " Our records indicate... A call is REQUIRED..."  making it seem as though this is official correspondance.  Only when you get to the fine print do they disclose they are not a creditor nor collector - and are not part of any State, Local or Federal Government .


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They have a lot of commercial going on whether at Television or AM1430 radio. Sound very great that $50,000 negotiate to only pay for couple thousand dollar. I am not sure whether that's true or nto of their recent commercial on AM1430.

ONE THING FOR SURE THAT LINCOLN CREDIT GROUP DID NOT TEL ME THAT IS THE AMOUNT WAIVED FOR DEBT, I HAVE TO PAY TAX FOR IT. AT YEAR END, ANY AMOUNT WAIVE FOR YOU MORE THAN $600, YOU HAVE TO FILE 1099C, AND THE TAX YOU HAVE TO PAID EQUAL AS THE TAX FOR YOUR ANNUAL INCOME.

They waived for me $20,000 on 6 credit cards, I had to pay tax for these $20,000 debt waive and add these $20,000 under my annual income and turned out, I have to paid tax for it. So remember to ask for the question about 1099C when you met with those consultant at this company.

One more thing, they said after you paid, your credit scored will go back to normal and you can even buy house or car with no problem on credit approval. That's not true. I can't apply for credit card or anything cause it said CHARGE OFF on my credit report. And some said "LEGAL PAID BUT LESS THAN THE FULL AMOUNT". It will not considerated as PAID OFF. The right term is 'SETTLE". Most of my credit card that now are showing the RECORD WILL KEEP FOR 7 YRS.

Customer services department at this company are really poor. They will ask you to do things by yourself after all. I sent them 3 times the notary that I agreed they represent me to negotiate. They could left it somewhere and asked me to do it again and again till the 3rd time. Because some already expired.

They will hold your account for a while and then negotiate with the credit card company to ask them low the payment. Let said if you owe the debt of $3,000, they will wait for more than 6 months, then now plus all the late fee and interest, you will end up owe the debt for $5,000. They could tell you that the settlement is $2,000, that count as they are successful negotiate the deal to lower than 50%, but the true is, you didn't owe $5,000. You owe only $3,000.

Then the amount they waive for you considerated as $3,000. At year end, don't feel surprise to receive the 1099C for $3,000, if you go to CPA for filing tax, they will add this $3,000 as your income and calculate all the tax.

One thing I didn't like that is they did NOT tell customer at the beginning and they way they do stuffs are very mess up in the customer services department.

Hope this could help.


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DON'T EVER JOIN TO PROGRAM FROM THIS COMPANY.

THEY'RE GOING OUT BUSINESS, YOU COULD LOST YOUR MONEY IT YOU DON'T BELIEVE ME


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I am freaking out.. it seems like the company is a scam.. I would like to know who else are in it and please tell your expiriance please.. 


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I am freaking out.. it seems like the company is a scam.. I would like to know who else are in it and please tell your expiriance please.. 


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if there so credible why is so tough to find a phone #? and whats up with the website? thumbs down


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i dont know. i think it's kinda good.i am their client too.. they already settled 2 accounts for me, save around 8k. still have 1  left.. let see....  


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The BBB gave Hamas the terrorist group an A-... I would be happy to be an F taking that into  consideration and that you can pay for an A rating.. check out utube 20/20 investigation on the BBB or Google Hamas and the BBB


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I'm not sure about this Lincoln Credit Group, but some of the information on this thread is really outdated. Now that the Federal Trade Commission has regulated the debt settlement industry, a lot of the bad companies are no longer existent. Of course, every industry has its bad guys, but there are definitely some very legitimate companies out there.

Also, as long as a debt settlement company has a favorable rating with the BBB, and no complaints, you can feel relatively comfortable working with such a company.

Just putting in my 2 cents.

Marie Megge

http://www.debtconsolidationcare.com/companies/donaldson-williams-inc/

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