Dena Standley | January 26, 2023
Edited by Hannah Locklear
Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.
Summary: Global Holdings has been helping consumers make debt settlement payments to creditors for 20 years. However, they are also known to mismanage consumers' money and charge high service fees. Luckily, you can use SoloSettle to settle your debts by yourself and move on with life for good.
Getting a debt settlement deal can turn a terrible debt situation into a manageable one. Debt settlement should help ensure you pay a lowered debt amount or get a better payment plan. Companies like Global Holdings LLC help to get the payments done without dealing directly with the creditors.
When you enroll in a debt settlement program, the debt specialist informs you that you must open an account to make deposits. Global Holdings is among the leading companies in the United States that offer these services. They handle the deposits and make payments to creditors and debt collectors. Today, SoloSuit will take a closer look at Global Holdings' debt settlement reviews and its business practices.
Before we dive into it, let's first understand how Global Holdings works.
When you successfully enroll in a debt settlement program, you want a guarantee that the money you deposit is safe and will be used to make the payments as agreed. Global Holdings LLC boasts of being a trusted company that ensures your money is well managed.
Global Holdings guarantees that you have control of the funds in the account even though they will make the payments on your behalf. In addition, all the accounts are insured by the Federal Deposit Insurance Corporation (FDIC). The following is a summary of the payment process laid out on Global Holdings’ website:
Despite the straightforward and seemingly safe process laid out for its clients, Global Holdings has disappointed many consumers. Let's look at some Global Holdings debt settlement reviews.
Negative Global Holdings debt settlement reviews have caused consumers and debt settlement providers to doubt their payment processing services. The Better Business Bureau (BBB) and other customer review platforms have recorded hundreds of negative reviews from this company. These reviews mention issues such as:
Global Holdings has a star rating of 1.17 out of 5 on its BBB profile. Below is an example of one customer’s negative experience with Global Holdings debt settlement services:
“I started with Global Holdings to help reduce my debt and get them paid. They did help to reduce my debt. In 2 years, I have deposited $18,366.71 into my account. My total debt to be paid was $8,511.59. They are now telling me I don't have enough money in my account to pay them off. Their reason is that there are fees to manage my account, which I can understand. My complaint is how the fees can be more than my debt. My debt is $8511.59, and your fees are $9,855.12. Can someone explain this to me? Am I being scammed?”
Despite the numerous negative Global Holdings debt settlement reviews on its BBB profile, Google Reviews shows more positive ratings, giving the company 4.3 out of 5 stars.
Global Holdings should not get away with mishandling money from consumers who are already struggling financially.
If Global Holdings has mismanaged your account, you should submit a complaint to the Consumer Financial Protection Bureau (CFPB), BBB, and the Fair Trade Commission (FTC). These organizations will follow up to ensure they resolve the issue.
The CFPB successfully sued Global Holdings in 2014 on behalf of consumers for charging exorbitant fees and mismanaging their money. CFPB won the case, and Global Holdings was ordered to return the fees and pay damages. If Global Holdings has harmed you, take action, and do not let them get away with bad business practices.
If you want to settle your debt once and for all, but you feel skeptical about working with a debt settlement company, you should consider using SoloSettle.
SoloSettle is a tech-based approach to debt settlement that helps you send and receive settlement offers to creditors and debt collectors through a structured software program. Our software makes it possible for you to negotiate a debt settlement on your own without having to deal with creditors and collectors directly.
When you reach a debt settlement agreement, SoloSettle helps you manage the settlement agreement documentation. Then, we process your settlement payment for you so you keep your financial information private and secure from sneaky debt collectors.
SoloSettle, powered by SoloSuit, is different from traditional debt settlement companies. Here’s how:
Let’s consider an example.
Example: Lucas is being sued by a debt collection agency for an old credit card debt of $3,000. He uses SoloSuit to respond to the lawsuit, giving himself time to look into debt settlement options. After taking a close look at his finances and budget, Lucas decides he has enough to settle the debt for $1,800 (or 60% of the debt). He uses SoloSettle to send an offer and kickstart negotiations, starting low at just 30% of the debt, or $900. After a few rounds of counteroffers, the collection agency agrees to settle for 55%, or $1,650. In the end, Lucas saves money, gets the lawsuit dismissed, and gives himself a financial restart.
As you can see, SoloSettle empowers everyday consumers to take matters into their own hands and settle their debts for good. Check out this review from a real SoloSettle customer:
“I'm very thankful for SoloSettle. Having a third party negotiate the settlement was instrumental in resolving this case and saved me from two giant headaches: 1) I didn't have to deal with the plaintiff's lawyer and 2) I didn't have to go to court. I also love that the payment was processed through SoloSettle. I was nervous about sharing my personal financial data with the other side, but SoloSettle protected that for me. I hope I never get sued again, but if I do, I would use SoloSettle again in a heartbeat.
SoloSettle really saved me a ton of time and heartburn and kept me from having to be my own lawyer in court.”
Check out this video to learn more about how you can settle your debt for good:
SoloSuit makes it easy to fight debt collectors.
You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.
SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.
>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)
>>Read the MSN story about how SoloSuit can help you settle your debt
Here's a list of guides for other states.
Being sued by a different debt collector? Were making guides on how to beat each one.
You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now are are just look for support, we're here for you.
Is your credit card company suing you? Learn how you can beat each one.
Going to Court for Credit Card Debt — Key Tips
How to Negotiate Credit Card Debts
How to Settle a Credit Card Debt Lawsuit — Ultimate Guide
Need more info on statutes of limitations? Read our 50-state guide.
Why do debt collectors block their phone numbers?
How long do debt collectors take to respond to debt validation letters?
What are the biggest debt collector companies in the US?
Is Zombie Debt Still a Problem in 2019?
If a car is repossessed, do I still owe the debt?
Is Portfolio Recovery Associates Legit?
Is There a Judgment Against Me Without my Knowledge?
Should I File Bankruptcy Before or After a Judgment?
What is a default judgment?— What do I do?
Summoned to Court for Medical Bills — What Do I Do?
What Happens If Someone Sues You and You Have No Money?
What Happens If You Never Answer Debt Collectors?
What Happens When a Debt Is Sold to a Collection Agency
What is a Stipulated Judgment?
What is the Deadline for a Defendants Answer to Avoid a Default Judgment?
Can a Judgement Creditor Take my Car?
Can I Settle a Debt After Being Served?
Can You Appeal a Default Judgement?
Do I Need a Debt Collection Defense Attorney?
Do I Need a Payday Loans Lawyer?
Do student loans go away after 7 years? — Student Loan Debt Guide
Am I Responsible for My Spouses Medical Debt?
Should I Marry Someone With Debt?
Can a Debt Collector Leave a Voicemail?
How Does Debt Assignment Work?
What Happens If a Defendant Does Not Pay a Judgment?
How Does Debt Assignment Work?
Can You Serve Someone with a Collections Lawsuit at Their Work?
How Many Times Can a Judgment be Renewed in Oklahoma?
Does Debt Consolidation Have Risks?
What Happens If You Avoid Getting Served Court Papers?
Does Student Debt Die With You?
Can Debt Collectors Call You at Work in Texas?
How Much Do You Have to Be in Debt to File for Chapter 7?
What Is the Statute of Limitations on Debt in Washington?
How Long Does a Judgment Last?
Can Private Disability Payments Be Garnished?
Can Debt Collectors Call From Local Numbers?
Does the Fair Credit Reporting Act Work in Florida?
The Truth: Should You Never Pay a Debt Collection Agency?
Should You Communicate with a Debt Collector in Writing or by Telephone?
What Happens After a Motion for Default Is Filed?
Can a Process Server Leave a Summons Taped to My Door?
Need help managing your finances? Check out these resources.
How to Make a Debt Validation Letter - The Ultimate Guide
How to Make a Motion to Compel Arbitration Without an Attorney
How to Stop Wage Garnishment — Everything You Need to Know
How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)
Defending Yourself in Court Against a Debt Collector
Tips on you can to file an FDCPA lawsuit against a debt collection agency
Advice on how to answer a summons for debt collection.
Effective strategies for how to get back on track after a debt lawsuit
New Hampshire Statute of Limitations on Debt
Sample Cease and Desist Letter Against Debt Collectors
The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah
West Virginia Statute of Limitations on Debt
What debt collectors cannot do — FDCPA explained
Defending Yourself in Court Against Debt Collector
Arkansas Statute of Limitations on Debt
Youre Drowning in Debt — Heres How to Swim
Help! Im Being Sued by My Debt Collector
How to Make a Motion to Vacate Judgment
How to Answer Summons for Debt Collection in Vermont
North Dakota Statute of Limitations on Debt
ClearPoint Debt Management Review
Indiana Statute of Limitations on Debt
Oregon Eviction Laws - What They Say
CuraDebt Debt Settlement Review
How to Write a Re-Aging Debt Letter
How to Appear in Court by Phone
How to Use the Doctrine of Unclean Hands
Debt Consolidation in Eugene, Oregon
Summoned to Court for Medical Bills? What to Do Next
How to Make a Debt Settlement Agreement
Received a 3-Day Eviction Notice? Heres What to Do
How to Answer a Lawsuit for Debt Collection
Tips for Leaving the Country With Unpaid Credit Card Debt
Kansas Statute of Limitations on Debt Collection
How to File in Small Claims Court in Iowa
How to File a Civil Answer in Kings County Supreme Court
Roseland Associates Debt Consolidation Review
Do Debt Collectors Ever Give Up?
Can They Garnish Your Wages for Credit Card Debt?
How Often Do Credit Card Companies Sue for Non-Payment?
How Long Does a Judgement Last?
How Long Before a Creditor Can Garnish Wages?
How to Beat a Bill Collector in Court
Out Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.
"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" - Heather