• Report: #504565

Complaint Review: Universal Debt Management

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  • Submitted: Mon, October 05, 2009
  • Updated: Thu, November 05, 2009

  • Reported By: Anonymous — USA
Universal Debt Management
5050 Quorum Drive Suite 700 Dallas, Texas United States of America

Universal Debt Management Company is owned and operated by some of the same shareholders, partners, former employees and settlement team that ran Debt Relief USA into the ground. Glen Hines Valerie Leath, Matt Oliver. This is the same group of employees and shareholders that were operating under Debt Relief USA in Addison, TX that is filing bankruptcy. The main founders job duties at Debt Relief USA was to oversee Dallas, Texas

*REBUTTAL Owner of company: Not quite Correct

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   The company Universal Debt Management LLC, is owned by the same group of employees and shareholders as Debt Relief USA that is in the process of filing for bankruptcy. You can go to www.drusabankruptcy.com for more information. On this site, you will find transfers to Insiders to both Matt Oliver and Valerie Leath.
   In fact, Glen Hines, who helped form this corporation, was in charge of the debt settlement department. Ironically, he could not settle the client's debt at Debt Relief USA. Now he has the audacity to form a new company. Shame on you! Former Debt Relief USA clients should call Glen to help finish settling the debt he just left them hanging with that they already paid for!
   Matt Oliver, also a former shareholder and employee of Debt Relief USA is now listed as a shareholder of this Universal Debt Management. His position was a debt consultant at Debt Relief USA.
   Oliver, Matthew C.
   ADP Direct Deposit 07/04/2008 Direct Depos Payroll for Period of 06.16.08 to 06.29.08 1,997.97
   Check 07/07/2008 64138 Special Sales Bonus - worked night 7-3-08 - approved KReilly 75.00
   Check 07/10/2008 64153 Distribution of Profits - JUN 2008 1,400.00
   ADP Direct Deposit 07/18/2008 Direct Depos Payroll for Period of 06.30.08 to 07.13.08 1,492.23
   Check 07/31/2008 64228 Partial Distribution of Profits - July 2008 600.00
   ADP Direct Deposit 08/01/2008 Direct Depos Payroll for Period of 07.14.08 to 07.27.08 1,301.82
   Check 08/14/2008 64286 Partial Distribution of Profits #2 JULY 2008 600.00
   Page 5 of 6
   Debt Relief USA, Inc.
   Schedule 3.c
   Transfers to Insiders
   Employee Payment to: Type Date Num Memo Amount
   ADP Direct Deposit 08/15/2008 Direct Depos Payroll for Period of 07.28.08 to 08.10.08 1,301.82
   Check 08/25/2008 64303 Special Sales Bonus wk. ending 8/22/08 (15 sales) 75.00
   ADP Direct Deposit 08/29/2008 Direct Depos Payroll for Period of 08.11.08 to 08.24.08 1,491.97
   ADP Direct Deposit 09/12/2008 Direct Depos Payroll for Period of 08.25.08 to 09.07.08 563.65
   Check 09/22/2008 64410 Special Sales Bonus W/E 9/19/08 15+ Sales per KER 100.00
   ADP Direct Deposit 09/26/2008 Direct Depos Payroll for Period of 09.08.08 to 09.21.08 1,139.47
   ADP Direct Deposit 10/10/2008 Direct Depos Payroll for Period of 09.22.08 to 10.05.08 901.13
   ADP Direct Deposit 10/24/2008 Direct Depos Payroll for Period of 10.06.08 to 10.19.08 471.30
   Check 10/28/2008 64582 Special Sales Bonus: 5 or 5+ Sales 10/28/08 per KER 75.00
   Check 11/06/2008 64631 Special Sales Bonus: 5 or 5+ Sales-11/05/08 per KER 75.00
   ADP Direct Deposit 11/07/2008 Direct Depos Payroll for Period of 10.20.08 to 11.02.08 503.94
   ADP Direct Deposit 11/21/2008 Direct Depos Payroll for Period of 11.03.08 to 11.16.08 1,331.69
   Check 11/24/2008 64707 Special THANKSGIVING Bonus - per KER 30.00
   ADP Direct Deposit 12/05/2008 Direct Depos Payroll for Period of 11.17.08 to 11.30.08 209.46
   Check 12/11/2008 64818 Special CHRISTMAS Bonus per Kelly, Jim , and Al 75.00
   ADP Direct Deposit 12/19/2008 Direct Depos Payroll for Period of 12.01.08 to 12.14.08 140.72
   Check 12/23/2008 64889 Special Sales Bonus to Balance Pay at Year End 500.00
   ADP Direct Deposit 01/02/2009 Direct Depos Payroll for Period of 12.15.08 to 12.28.08 15.86
   ADP Direct Deposit 01/16/2009 Direct Depos Payroll for Period of 12.29.08 to 01.11.09 923.50
 
         Valerie Leath, also a former employee and shareholder, of Debt Relief USA, was the Vice President.
   Leath, Valerie S
   ADP Direct Deposit 07/04/2008 Direct Depos Payroll for Period of 06.16.08 to 06.29.08 1,693.98
   Check 07/10/2008 64151 Distribution of Profits - JUN 2008 2,100.00
   ADP Direct Deposit 07/18/2008 Direct Depos Payroll for Period of 06.30.08 to 07.13.08 1,693.99
   Check 07/31/2008 64226 Partial Distribution of Profits - July 2008 900.00
   ADP Direct Deposit 08/01/2008 Direct Depos Payroll for Period of 07.14.08 to 07.27.08 1,693.99
   Check 08/14/2008 64284 Partial Distribution of Profits #2 JULY 2008 900.00
   ADP Direct Deposit 08/15/2008 Direct Depos Payroll for Period of 07.28.08 to 08.10.08 1,693.98
   ADP Direct Deposit 08/29/2008 Direct Depos Payroll for Period of 08.11.08 to 08.24.08 1,828.97
   ADP Direct Deposit 09/12/2008 Direct Depos Payroll for Period of 08.25.08 to 09.07.08 1,693.98
   ADP Direct Deposit 09/26/2008 Direct Depos Payroll for Period of 09.08.08 to 09.21.08 1,693.99
   ADP Direct Deposit 10/10/2008 Direct Depos Payroll for Period of 09.22.08 to 10.05.08 1,693.99
   ADP Direct Deposit 10/24/2008 Direct Depos Payroll for Period of 10.06.08 to 10.19.08 1,693.98
   ADP Direct Deposit 11/07/2008 Direct Depos Payroll for Period of 10.20.08 to 11.02.08 1,524.49
   ADP Direct Deposit 11/21/2008 Direct Depos Payroll for Period of 11.03.08 to 11.16.08 1,693.99
   Check 11/24/2008 64727 Special THANKSGIVING Bonus - per KER 30.00
   ADP Direct Deposit 12/05/2008 Direct Depos Payroll for Period of 11.17.08 to 11.30.08 1,691.69
   Check 12/11/2008 64838 Special CHRISTMAS Bonus per Kelly, Jim , and Al 75.00
   ADP Direct Deposit 12/19/2008 Direct Depos Payroll for Period of 12.01.08 to 12.14.08 1,688.25
   ADP Direct Deposit 01/02/2009 Direct Depos Payroll for Period of 12.15.08 to 12.28.08 1,702.60
   ADP Direct Deposit 01/16/2009 Direct Depos Payroll for Period of 12.29.08 to 01.11.09 1,702.59
   ADP Direct Deposit 01/30/2009 Direct Depos Payroll for Period of 01.12.09 to 01.25.09 1,837.58
   ADP Direct Deposit 02/13/2009 Direct Depos Payroll for Period of 01.26.09 to 02.08.09 1,702.60
   ADP Direct Deposit 02/27/2009 Direct Depos Payroll for Period of 02.09.09 to 02.22.09 1,702.59
   ADP Direct Deposit 03/13/2009 Direct Depos Payroll for Period of 02.23.09 to 03.08.09 1,702.60
   ADP Direct Deposit 03/27/2009 Direct Depos Payroll for Period of 03.09.09 to 03.22.09 1,723.10
   ADP Direct Deposit 04/10/2009 Direct Depos Payroll for Period of 03.23.09 to 04.05.09 1,723.09
   ADP Direct Deposit 04/24/2009 Direct Depos Payroll for Period of 04.06.09 to 04.19.09 1,723.10
   ADP Direct Deposit 05/08/2009 Direct Depos Payroll for Period of 04.20.09 to 05.03.09 1,758.08
   Check 05/22/2009 65297 FINAL PAY - 3 weeks Vacation 2,643.98
If you really want to know these peoples true track record and how they do debt settlement, just look up Debt Relief USA and you can see for yourself.

This report was posted on Ripoff Report on 10/05/2009 12:20 PM and is a permanent record located here: http://www.ripoffreport.com/r/Universal-Debt-Management/Dallas-Texas-75254/Universal-Debt-Management-Company-is-owned-and-operated-by-some-of-the-same-shareholders-504565. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

Not quite Correct

AUTHOR: Glen - (United States of America)

Well "anonymous", it looks like you have done some research, but you have several facts wrong. Universal Debt Management was founded by me Glen Hines. I was in no way an owner or stockholder in Debt Relief USA, which means when they filed bankruptcy I lost my job. Debt Relief USA was owned by Kelly Reilly (president), Al Bell (Vice President), and Jim Wojcik (CEO). They owned well over 90% of the company and made all business and operational decisions. While Matt Oliver was a founder of Universal Debt Management, he is no longer a partner in this company. At Debt Relief USA I was the Settlement Director, my department settled well over $1,000,000 worth of debt per month for our clients, at a percentage much better than the industry average. I got paid according to how much my team settled (seems fair). Debt Reliefs problems came from them operating in states that prohibited debt settlement. These were decisions made by the principals of DRUSA not the settlement director. As far as having prior clients from DRUSA contact me for continued help in settling their debts that would be great! We have enrolled many previous DRUSA clients with no administration fee, and have continued to settle their debts for them. As Far as Valerie Leath goes she was not the V.P. of DRUSA, she was involved only in the marketing aspect of the company. For this she was given a very small share of DRUSA, 2-3%. The truth is we are a smaller company that operates in less than half of the states as DRUSA. We do not hold any of our clients money. Each client has their own FDIC insured bank account. We want to help DRUSA clients!! We have already contacted over 3000 previous DRUSA clients who were as part of the public record on the Texas Northern Bankruptcy website.

 P.S. I see where you posted Valeries Thanksgiving bonus -$30 and her Christmas bonus -$75. It was amusing! What a shareholder bonus! She was raking it in.

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