Alaadin
After ~1 year: only $515 labeled as creditor “Settlement Payments,” while $2575 was deducted as fees — lack of transparency
Settlements voided by Swift Debt Relief after one late payment, then immediately offered “re-negotiation”— I’m concerned about being charged the legal fee (29% of the enrolled Credit balance) again. I joined Swift Debt Relief expecting transparent settlement execution and clear, written proof of what was paid to my creditors. After nearly a year, I’m still dealing with confusing accounting and incomplete documentation. Based on posted transactions, the net amount withdrawn from me (posted) is $3,090. How much was actually paid as “Settlement Payment” to creditors (after ~1 year)? Across the entire statement period, the line items labeled “Settlement Payment” total only $515.64. How much Swift/CDP appears to have taken as fees/charges? The same statement shows large debits labeled “Debt Program” totaling $1,869.91, and what concerns me is that one debit labeled “Debt Program” of $1,269.91 equals 29% of the enrolled Credit balance ($4,379.00 × 0.29 = $1,269.91), which strongly resembles the program’s 29% settlement legal fee rather than a creditor payment. In addition, the statement includes other charges such as: - EPPS monthly fees (total debits): $201.89 - NSF fees: $90.00 - Settlement check fees: $78.00 Despite repeated requests, I have not received a complete written, itemized ledger showing exactly how much was paid to each creditor, on what dates, and with which confirmation/reference numbers (ACH trace or cleared check copies). I repeatedly asked a simple question: How much of my net payments ($3,091.84) has actually been paid to creditors? Settlements and cancellation: on December 8, 2025, I received an “Important Alert Notification of Missed Payment” stating my most recent payment was returned due to insufficient funds and that missing a draft can put the account in a paused status and may risk voiding settlements. Minutes later, I received an SMS indicating the creditor agreements were voided. What concerns me is that immediately after voiding the agreements, Swift indicated they would re-negotiate once funds were available. From a customer perspective, this raised a serious concern that the process could restart in a way that results in the settlement legal fee being charged again from the beginning, even though the settlements had already been approved before. I’m posting this to warn others: before paying for months, insist on written proof of creditor disbursements, a full and clear fee ledger, and a written explanation of what happens to fees if a settlement is voided and then re-negotiated. If Swift resolves this by providing full documentation and correcting any improper fees, I will update my review.