Ferry & Nicholas going out of business in Alabama? What do you do now?
If you have been sued by a debt collector or credit card company in Alabama, you’ve probably received a letter from a company called Ferry & Nicholas (F&N), a debt settlement company.
They describe themselves as a “mediation” company which is bogus — they are a debt settlement company.
You may have hired F&N. It has come to my attention that F&N may be revoking their power of attorney’s in court cases and with various collection attorneys and agencies across Alabama.
Apparently the owner of Ferry & Nicholas has passed away and the business is being shut down at the end of June.
We’ll continue to monitor this situation and see if this is still true or if anyone from F&N tries to pick up the pieces. Start a new company, etc.
What does this mean for you?
It means that to the extent Ferry & Nicholas was acting on your behalf, they no longer will.
If you were sued by say Midland Funding, and F&N was helping you, they no longer will help you. You will need to make sure you are protected.
(Note: I think Ferry & Nicholas did a lousy job of helping Alabama consumers. They were in the business of practicing law without a license — like a guy offering to do surgery who is not a doctor. It normally ended in disaster. But putting all of that aside, you need to figure out what to do next.)
What can you do now?
You can handle this on your own.
Frankly, this would have been a better choice for you from the beginning but you can certainly do this now. If you have not made a deal with the debt collector, then you can call the lawyer who sued you and settle this.
Keep in mind when you settle with a debt collector, the collection account will normally stay on your credit report. And you may also get hit with taxes after you settle.
Or you could fight the debt buyer on your own if you haven’t already made a settlement. It is sometimes doable (and sometimes not doable) to fight on your own.
You could also hire a lawyer to fight or settle.
If we fight a case, our intention is to win it completely. So you don’t owe any money and this will be removed from your credit reports.
When we settle these cases, we remove the debt collector from the credit report. And we settle (if we don’t fight) where there is no money paid and no taxes owed.
Depending on where you are in the process, you may still be able to choose from among your five options when sued by a debt buyer.
Call us immediately to discover your options now
If you or someone you know has hired F&N, please call us immediately at 205-879-2447 for a free consultation to review your case and discuss your options. ALL calls are FREE and no obligations. We are here to help you in this unfortunate situation.
And if you have not yet hired Ferry & Nicholas, then consider yourself lucky. But you still need to make a choice among your five options. Call us at 205-879-2447. We can help you see which option is best for you.
Thank you for reading this and I look forward to chatting with you soon.