Financial Rescue Services ratings, reviews and complaints - Debt Relief Services - non-compliant with FTC Rule

Complaints and Resolutions

Complaint Experience

N/A

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

We have received a significant number of complaints against this company. In at least some cases, the complaint allegations are very serious.

Complainants generally allege unfullfilled contracts. Most customers report creditors are not paid or are not contacted by the company. Some customers complain they continue to receive collection calls, and in some cases are advised by creditors that they are unable to contact FRS. Other clients allege they are sued in court, had to file bankruptcy, or, their balances increased due to fees and interest while waiting for debts to be settled. Most customers request refunds.

The company responds to some complaints by denying most refund requests based on the complainants not accumulating sufficient funds to pay creditors, or that significant work was performed to justify fees. In a few cases, the company did issue full or partial refunds. The company addresses other complaints by denying refund responsibility to the client as it operates as a sub-contractor, and it received no money directly from the complainant.

Our complaint services are free and our team of expert mediators will assist in resolving complaints with businesses.

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Complaint Closing Statistics

0 complaints against Financial Rescue Services closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
0	Unanswered

Other Information

Company Info

This company's business is providing debt negotiation services.

Primary Contact:	Joseph Lisa (VP Corporate Affairs)
Business Started:	2/1/1999
Social:

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Licensing

California law requires bill paying services, and pro-raters accepting money from clients to be disbursed to creditors on behalf of the debtor, to be licensed by the California Department of Business Oversight and file a $25,000 bond.

To verify licensing, contact the California Department of Business Oversight (DBO) by writing to 1515 K Street, Suite 200 Sacramento, CA 95814-4052, by calling (916) 445-7205, (866) 275-2677 or (866) ASK CORP. Prorater licenses can be verified on-line, by accessing the DBO website at http://www.dbo.ca.gov.

For businesses outside of California, please check with the agency that regulates this industry.

Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

According to company materials, this company is an affiliate of National Consumer Council, Inc., London Financial Group, National Consumer Debt Council, LLC., Solidium, LLC., and J.P. Landis, LLC.

This company charges a 3.5% initiation fee on outstanding credit card balances, or $500 whichever is greater. Also, the company requires a monthly maintenance fee of approximately $40. In addition, the company charges 25% debt negotiation fee on any saving as a result of their negotiations. Clients are instructed by the company or its affiliates, not to pay creditors and instead, to make payment to them or their affiliates. Ostensibly, those payments will be used to pay the debt negotiation fees, and the balance of payments will accumulate in an account until there is enough money to offer a cash settlement. According to the company, this may take as long as three years. In the meantime, the client's credit is likely to be adversely affected, interest and other charges will continue to accrue on the accounts, and creditors may proceed with collection actions including lawsuits. Also, if creditors do accept less than the entire balance, the amount forgiven constitutes taxable income.

Other Considerations

Our files show disconnected phone numbers, returned mail or both. The company appears to be out of business. The Bureau cannot trace addresses of companies or principals. General information is available upon request which may assist you.

Industry Resources

Advertising Reviews

Additional Info

DBAs:
There are no additional DBAs.

Websites:
There are no additional web sites.

Contacts:

Owner

Joe Lisa (Customer Service)

Martha Levitsky (Owner)

Addresses:

249 North Brand Blvd, Suite 405, Glendale, CA, 91203

Reputation Report

Financial Rescue Services

Complaints and Resolutions

Other Information